Tru Precious samples up to 7.6% Cu at Golden Rose
2023-12-05 11:59 ET - News Release
Mr. Joel Freudman reports
TRU ANNOUNCES FURTHER COPPER AND GOLD ASSAYS FROM FALL 2023 PROSPECTING AT GOLDEN ROSE, INCLUDING 7.6% CU AND 3.1 G/T AU
TRU Precious Metals Corp. has released further gold (Au) and copper (Cu) results from additional prospecting and bedrock sampling conducted on its Golden Rose project in central Newfoundland. The fall 2023 prospecting and reconnaissance soil sampling program was focused on the discovery of new gold and critical minerals targets at Golden Rose, and guided by recently acquired high-resolution satellite and remote sensing data over the entire property. These additional grab sample results continue to prove the rich gold and copper endowment along the highly prospective Cape Ray-Valentine Lake shear zones.
Significant assay results from the fall bedrock sampling program are shown in the table entitled "Table of significant assay highlights from the fall 2023 bedrock sampling program."
Highlights:
- Two bedrock samples collected along the southwestern shore of Victoria Lake, approximately six kilometres northeast of the Ryan's Hammer gold prospect, and along the Valentine Lake shear zone (VLSZ) returned assay values between 2.87 grams per tonne and 3.10 g/t Au, further confirming the extensive gold mineralization present along this important structure which extends to Marathon Gold's Valentine gold project.
- Follow-up bedrock sampling less than two km north-northeast of the Mark's Pond target along the Cape Ray shear zone (CRSZ) returned between 0.58 per cent and 7.60 per cent Cu, and 0.9 g/t to 5.3 g/t silver (Ag). Based on these additional high-grade copper results, this area is considered a high-priority critical minerals target for future trenching, channel sampling and drilling.
- Ground truthing of recently acquired data from high-resolution satellite and remote sensing technology through reconnaissance soil sampling over select targets has been successful at determining the applicability of this technology as a regional prospecting tool, and resulted in the identification of new gold and critical minerals targets for follow-up exploration work in 2024.
TRU Co-Founder and CEO Joel Freudman commented: "We are very encouraged by these additional bedrock sample assay results along both the Cape Ray and Valentine Lake shear zones. We remain excited about the gold and critical minerals potential throughout Golden Rose, further bolstered by satellite and remote sensing data which we continue to ground truth and interpret for drill hole targeting purposes.
Our next step is to develop an exploration and drilling program for summer 2024 based on our interpretation of the assay data from our recent trenching, channel sampling, prospecting, and soil sampling programs. These latest positive assay results cap off a very successful 2023 field season where we discovered new high-grade copper prospects in the northeastern part of Golden Rose and firmed up the high-grade gold potential at Mark's Pond - Northcott Gold Zone, Rich House, and other prospects along the southwestern shore of Victoria Lake." Figure 1: Significant assay highlights from the fall 2023 bedrock sampling program at Golden Rose
Technical Summary
TRU recently completed its fall 2023 exploration program and collected a number of bedrock (grab) samples from several locations along the Cape Ray-Valentine Lake Shear Zone with minimal to no historical exploration work. Assay highlights from the bedrock sampling program are shown in Figure 1 and Table 1 above.
Bedrock samples collected along the CRSZ in the northeastern part of Golden Rose included dark grey to green, strongly chloritized and sheared mafic volcanics with abundant to massive chalcopyrite (varied from 3% to 15%), pyrite (2-3%), and minor malachite producing high grade copper results. Bedrock samples with rusty weathered surfaces collected on the southwestern shore of Victoria Lake along the VLSZ included fine grained meta-sandstone and siltstone with abundant veined pyrite, arsenopyrite, and stringer chalcopyrite.
Sampling, QAQC, and Analytical Procedures
For the fall 2023 exploration program, all rock samples were either collected from outcrops (bedrock) or as float samples and put into sample bags with unique sample tags by TRU prospecting and geological staff. The exact location of the collected grab sample was taken using a handheld GPS unit and field notes were taken by TRU staff on lithology, structure, and mineralization. The rock samples were securely transported by TRU staff to Eastern Analytical Ltd.'s (Eastern Analytical) laboratory in Springdale, NL. Eastern Analytical is a commercial laboratory that is ISO/IEC 17025 accredited and independent of TRU. The laboratory pulverized 1,000 grams of each sample to 95% < 89 mum. Samples were analyzed using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP-OES analysis. Samples sent to the lab with visible gold or assaying above 1.00 g/t Au were further assayed using Total Pulp Metallic analysis (metallic screening) to mitigate the presence of the nugget effect of coarse gold.
Total Pulp Metallic Sieve Procedure: Crush entire sample to approximately 80% (-10 mesh). Total sample is pulverized to approximately 95% (-150 mesh) in 200-300g portions. Sieve all pulverized material through 150 mesh screen. The total (+150 mesh) fraction is all fire assayed as one sample and the weight recorded. The entire (-150 mesh) fraction is rolled to homogenize and stored in a plastic bag. The entire weight of the (-150 mesh) fraction is recorded. A 30g sample is fire assayed from the (-150 mesh) portion. The two fire assay results (+150 and -150 mesh) are calculated (with the total weight of the sample to provide a weighted average of the sample) and the weighted average Au result is reported.
The TRU exploration programs are designed to be consistent with mining industry best practices and the programs are supervised by Qualified Persons employing a QAQC program consistent with requirements under the CIM Mineral Exploration Best Practice Guidelines (2018) and National Instrument 43-101 ("NI 43-101").
Cautionary Statements
Please note that soil, till, and rock 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 to define a mineral resource or deposit; and it is uncertain whether further exploration will result in these targets being delineated as a mineral resource.
The reader is cautioned that descriptions of mineralization reported in this news release are preliminary and/or early-stage results. While these results are considered encouraging, there is no guarantee that they indicate significant mineralization will be intersected in future drilling programs completed by the Company.
Qualified Person Statement and Data Verification
The scientific and technical information disclosed in this news release has been prepared and approved by Paul Teniere, M.Sc., P.Geo., Vice President of Exploration for TRU, and a Qualified Person as defined in NI 43-101.
Mr. Teniere has verified all scientific and technical data disclosed in this news release including the bedrock sampling results and certified analytical data underlying the technical information disclosed. Mr. Teniere noted no errors or omissions during the data verification process and TRU's Exploration Manager has also verified the information disclosed. The Company and Mr. Teniere do not recognize any factors of sampling or recovery that could materially affect the accuracy or reliability of the assay data disclosed in this news release.
About TRU Precious Metals Corp.
TRU (TSXV:TRU) is on a mission to build long-term shareholder value through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, originally optioned from TSX-listed Altius Minerals. Golden Rose is a regional-scale 264.25 km2 land package, including 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold's Valentine Gold Project and Matador Mining's Cape Ray Gold Project. In addition, TRU has an option to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2 including a 12 km strike length along the Shear Zone within Golden Rose. TRU is approximately 36%-owned by European strategic investor Ormonde Mining plc (AQSE:ORM).
TRU is a portfolio company of Resurgent Capital Corp. ("Resurgent"), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges.
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support through the Junior Exploration Assistance Program and the Federal Government for its critical mineral assistance funding for the exploration activities at the Golden Rose Project.