Tru Precious identifies visible gold at Golden Rose
2021-11-04 09:59 ET - News Release
Mr. Joel Freudman reports
TRU PRECIOUS METALS DRILLS VISIBLE GOLD AT GOLDEN ROSE PROJECT
Tru Precious Metals Corp. has encountered visible gold early in its 5,000-metre diamond drill program currently under way at its flagship Golden Rose project, in the Central Newfoundland gold belt.
Tru's co-founder and chief executive officer, Joel Freudman, commented: "We are ecstatic to report that multiple specks of visible gold have been observed in a completed drill hole in our recently announced drill program at Golden Rose. While assays are pending and the drilling continues, we are encouraged and feel that these early observations further bolster our belief in the prospectivity of Golden Rose and provide early validation of the extensive work that our team has dedicated to this program. We look forward to reporting additional results as drilling continues."
Woods Lake itself is situated on a 2.5-kilometre-long by 0.5-kilometre-wide Z-shaped flexure in the Valentine Lake shear zone. Drilling to date has been focused on the Woods Lake gold zone (WLGZ). While infill drilling on a potential hinge area of the shear zone, drill hole WL-21-05 successfully encountered several flecks of visible gold at 52.79 m and 55.04 m down hole. The visible gold is in thin fractures absent any appreciable sulphides. This is the first reported visible gold encountered in this area of the WLGZ. Hole WL-21-05 is located approximately 800 metres from historic hole ST05-004 where visible gold was observed and which ultimately assayed 19.4 grams per tonne Au over 1.5 m.
Golden Rose is a regional-scale land package covering 215.25 square kilometres, including approximately 45 km of strike length along the deposit-bearing Cape Ray-Valentine Lake structural corridor between Marathon Gold Corp.'s Valentine gold project to the northeast and Matador Mining Ltd.'s Cape Ray gold project to the southwest.
Barry Greene, vice-president of property development and director of Tru, further commented: "It is rewarding to see visible gold in drill core this early in the drill program. As we explore new ideas and test new ground, we are continuing to see good signs, not only at the Woods Lake but property wide. Golden Rose is really shaping up as a significant project of merit."
The observation of visible gold flakes in the core is positive but not necessarily indicative that assay results with significant gold mineralization will be received.
Qualified person
Mr. Greene, PGeo (Newfoundland), is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the contents and technical disclosures in this press release. Mr. Greene is a director and officer of the company and owns securities of the company.
About Tru Precious Metals Corp.
Tru is drilling for gold in the highly prospective Central Newfoundland gold belt and has an option with a subsidiary of Toronto Stock Exchange-listed Altius Minerals Corp. to purchase 100 per cent of the Golden Rose project, located along the deposit-bearing Cape Ray-Valentine Lake shear zone. Tru also owns 100 per cent of the Twilite gold project, located along the same shear zone, and earlier-stage properties in the region. Tru's common shares trade on the TSX Venture Exchange under the symbol TRU, on the OTCQB Venture Market under the symbol TRUIF, and on the Frankfurt exchange under the symbol 706.
Tru is a portfolio company of Resurgent Capital Corp., a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and prepublic microcapitalization companies listing on Canadian stock exchanges.