Tru samples 14.3 g/t Au, 368 g/t Ag at Golden Rose
2021-11-24 10:51 ET - News Release
Mr. Joel Freudman reports
TRU PRECIOUS METALS CONFIRMS SECOND DISTRICT-SCALE GOLD TREND THROUGH SOIL SAMPLING PROGRAM AT GOLDEN ROSE PROJECT
Tru Precious Metals Corp. has released its report of recently-received soil sampling results from its flagship Golden Rose project in Newfoundland, Canada.
Golden Rose is a regional-scale land package covering approximately 236 square kilometres in the Central Newfoundland gold belt, including approximately 45 km of strike length along the deposit-bearing Cape Ray-Valentine Lake shear zone between Marathon Gold Corp.'s Valentine gold project to the northeast and Matador Mining Ltd.'s Cape Ray gold project to the southwest.
Highlights
- Confirmation of a district-scale gold anomalous trend over approximately 20 kilometres associated with a district-scale shear zone, which extends onto King George IV area of Golden Rose where TRU is currently drilling;
- Delineation of several discrete clusters of highly anomalous gold values;
- Multiple trenching targets have been identified and gold anomalies are open for expansion;
- Polymetallic signatures in gold/copper indicated in both rocks and soils along this structure.
Barry Greene, vice-president of property development and a director of Tru, commented: "As soon as we plotted the data and looked at it in the context of the regional magnetic geophysical signatures, I couldn't help but think back to the early days at the Valentine Lake project. The scale and scope of this newly identified soil anomalous trend on Golden Rose reminded me of the regional-scale soil anomalous trend I saw when I first started working on the Valentine Lake project in 1988, in the early discovery days. As we were trenching at Valentine Lake and uncovering gold mineralized veins, we were following the soil anomalies along the Valentine Lake regional structural break. It's like looking at the Valentine Lake soils data from 33 years ago."
Sampling results
Tru has received almost all of the soils and rock analytical data collected during the 2021 field season, which has confirmed a new district-scale anomalous gold trend at Golden Rose over approximately 20 km of strike length. This data further solidifies the company's belief in the exploration potential of the shear zone/thrust fault contact between the Windsor Point Group and the King George IV ophiolite and the Rainy Lake complex gabbro along the northwest side of Golden Rose. Tru also believes that the data confirms it has opened a new, previously unrecognized area for exploration.
As the shear zone wraps around the ophiolites, the ophiolites appear to be structurally dissected, creating a distinct series of likely brittle second and third order structures. The structural architecture can be imaged in the aerial magnetic data. This will be a priority for expansion of future soil sampling to fully delineate the anomalous trend.
At the north end of this newly identified regional trend, rock sampling from bedrock and from local float confirms a gold-copper signature at the Jacob's Pond gold prospect. Following along the Jacob's Pond trend to the southwest, in association with this anomalous soils data, Tru's field crews have collected several heavily copper mineralized samples including one sample which assayed 14.3 grams per tonne gold, 11 per cent copper, 368 g/t silver and 0.12 per cent antimony.
Joel Freudman, co-founder and chief executive officer of Tru, added: "I am very pleased that our exploration team has identified a significant and highly-prospective new district-scale structure at Golden Rose. As this is in addition to the 45-kilometre section of the Valentine Lake shear zone transecting Golden Rose, we now have much more high-priority real estate for exploration along this structural corridor, which we think may correlate with the Cape Ray shear zone running up from Matador's Cape Ray deposits. As an added bonus, early indications in our soil and rock samples suggest this structure could have polymetallic potential. We remain hard at work in our efforts to unlock value for our shareholders from our flagship Golden Rose project."
The company is considering an expansion of its regional exploration program in early 2022 along this newly recognized regional structure, which may include an induced polarization survey over the winter ice, in order to lay the groundwork for a spring 2022 trenching and/or drilling program on newly advanced targets.
National Instrument 43-101 disclaimers
Note that soil, rock and float samples are selective by nature, and values reported may not represent the true grade or style of mineralization at Golden Rose. Readers are cautioned that these potential grades are conceptual in nature; there has been insufficient exploration by the company or its qualified person at Golden Rose to define a mineral resource or mineral reserve; and it is uncertain whether further exploration will result in these targets being delineated as a mineral resource or mineral reserve.
Barry Greene, PGeo (NL), 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 TSX-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.