TRU Provides Update on 2022 Exploration Program at Golden Rose Project
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to provide an update on its 2022 exploration program, previously announced on March 22, 2022, ongoing at the Company’s flagship Golden Rose Project (“Golden Rose”) located in the Central Newfoundland gold belt on the deposit-bearing Cape Ray-Valentine Lake Shear Zone.
Soil Sampling
The soil sampling program is designed to identify new gold mineralization and provide additional targets for TRU’s 2022 trenching and drilling programs at the developing Jacob’s Pond target area at Golden Rose. The Jacob’s Pond area is a target-rich corridor of low- to high-grade gold-copper-silver mineral occurrences which have strong IP geophysical anomalies and soil anomalies which extend over four kilometers.
The work is focusing on completing and infilling gaps in soils coverage over the two primary deep seated structural corridors that have been delineated over much of the strike length running through the property.
The program will collect about 3,000 samples, reduced from an initial 10,000 to reallocate funds to drilling. Approximately 1,000 of the samples will be conducted over the Jacob’s Pond-Bear Pond structural corridor by extending grid lines from the 2021 soil sampling program to close off and fully define a multi-element (copper-lead-zinc-gold-silver) soil anomaly. The results of these samples will be incorporated into the upcoming Jacob’s Pond drill program.
TRU VP of Property Development and Director Barry Greene commented: “The Jacob’s Pond corridor of the Golden Rose property contains most, if not all, of the ingredients normally found in advanced orogenic gold prospects and deposits. I have seldom been as enthusiastic about an exploration project.”
The remaining approximately 2,000 samples will be done over the numerous known gold bedrock showings on which minimal previous geochemical or ground geophysical coverage is available, and which are located on primary, secondary or tertiary order structures which emanate from a crustal scale shear zone. Of particular interest in the southwest are the Glimmer Pond, Mink Pond and Falls Zone gold showings, which display a combination of quartz veining and/or regional silicification. Historical prospecting in the Glimmer Pond area did identify a quartz rich float sample with visible gold with a grab sample which assayed 213.8 grams per tonne (g/t) gold.
Drilling
Drilling is anticipated to commence early in the third quarter and will focus on the Jacob’s Pond area. Approximately 10 drill holes are proposed consisting of 2,000 metres.
Corporate Strategy
TRU Co-Founder and CEO Joel Freudman commented, “We expect this to be an exciting summer as we continue to advance Golden Rose. As TRU continues its evolution as a junior mineral explorer, we are evaluating a wider range of exploration and corporate opportunities and strategies consistent with our stated mission to build long-term shareholder value through prudent natural resource property development and transactions. The asymmetric exploration potential of Golden Rose, driven by the drill bit, remains TRU’s key value driver. To supplement our exploration plans and fortify our balance sheet, we also continue to assess corporate initiatives, such as monetizing non-core properties, that will support TRU’s efforts to generate revenues and cashflows through building a diversified portfolio of inflation-resistant natural resources assets.”
The Company also announces that, subject to regulatory approval, on June 1, 2022, it granted an aggregate of 4,560,000 incentive stock options (“Options”) to its employees and consultants in accordance with the Company’s stock option plan. All such Options have an exercise price of $0.14 per share and a 3-year term. These grants are intended to foster long-term personnel retention as well as corporate and exploration performance. Of these Options an aggregate of 1,115,000 vested immediately; 2,230,000 vest in 12 months from grant date; and the remaining 1,215,000 vest only upon the achievement of a variety of specified corporate milestones.
Qualified Person
Barry Greene, P.Geo. (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 (TSXV:TRU) (OTCQB:TRUIF) (FSE:706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including a newly discovered 20 km district-scale structure and an additional 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.
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. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Twitter
https://twitter.com/corp_tru
LinkedIn
https://www.linkedin.com/company/tru-precious-metals-corp
YouTube
https://www.youtube.com/channel/UCHghHMDQaYgS1rDHiZIeLUg/
- Published in Mining, News Home, Tru Precious Metals
TRU Releases 3D Model of IP Survey for Jacob’s Pond Target Area at Golden Rose Project
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce additional results of its Induced Polarization (“IP”) survey at the Company’s flagship Golden Rose Project (“Golden Rose”), further to its announcement of April 13, 2022. Golden Rose is located in the Central Newfoundland gold belt on the deposit-bearing Cape Ray-Valentine Lake Shear Zone.
TRU retained Simcoe Geoscience Limited (“Simcoe”) to deploy Simcoe’s next-generation wireless, high-definition Alpha IP technology to conduct a survey comprising 56 line kilometres (km) of wireless time domain IP on newly-defined plus underexplored historical gold exploration targets at Golden Rose. The results in this press release pertain to the developing Jacob’s Pond target area in the northeast of Golden Rose.
Highlights of IP Survey of Jacob’s Pond Include:
- Delineation of an open-ended 4-kilometer-long IP anomalous trend associated with copper-gold-silver-zinc-lead in soils, correlating with chalcopyrite in outcrop and in sheeted quartz veins along the Jacob’s Pond trend.
- 1.6-km-long IP anomaly correlating with the primary high-grade Jacob’s Pond and Rose Gold copper-gold-silver veins, significantly increasing the potential footprint of the mineralized zone.
- Drill target selection has commenced and permits for trenching and drilling at Jacob’s Pond are pending.
TRU VP of Property Development and Director Barry Greene commented: “Having confirmed that the Jacob’s Pond area hosts high-grade copper-gold-silver values in mineralized quartz vein networks at surface, our confidence level was further bolstered when a regional soil sampling survey produced a multi-kilometer anomalous trend in copper-gold-silver-zinc-lead that indicated a potential for much greater distribution to the mineralized system. Now that this 3D IP chargeability model coincides with the high-grade quartz veins and the anomalous soils, we are even more confident in the prospectivity of the Jacob’s Pond area, as we have three different exploration techniques that corroborate the same prospective targets. This IP model is the final layer of exploration data we needed to plan for a comprehensive and systematic trenching and drilling program in the summer and fall of 2022.”
The 3D IP model (Figure 1) shows the shape of the surface and subsurface regions which can hold an electric charge, referred to as an IP anomaly. This method, known as IP geophysics, is regularly used in gold exploration, where gold mineralization is associated with other metals in the ground which can hold an electric charge. The IP anomalies are represented as orange to pink-coloured regions, with hotter colours (pink) representing a stronger IP anomaly.
The existence of gold-bearing rock samples collected from IP anomalies that reach the surface, upgrades the exploration potential of the IP anomalies and provides some context as to the potential size of the overall target. Not all IP anomalies are prospective, therefore, collecting soil samples above multiple IP anomalies can further narrow down areas of interest. If soil is analyzed and is shown to contain gold, plus other metals (such as copper, lead, zinc and silver) (see Figure 2), and those soil samples are situated above areas that can hold an electric charge, then those areas are assigned higher rankings as prospective targets.
When several prospective targets are identified in this manner, exploration then moves to the trenching and drilling stage to define the geometry, grade and continuity of mineralized zones. Accordingly, drill target selection for TRU’s 2022 drill program has commenced.
Figure 1 – 3D model of IP Geophysics in Jacob’s Pond area with copper-gold-silver samples
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5993/125192_cb25292c744f98f4_001full.jpg
Figure 2 – Copper, Zinc, Lead, Silver, Arsenic and Gold in Soils – Jacob’s Pond area
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5993/125192_cb25292c744f98f4_002full.jpg
On May 23, 2022, the field component of the IP survey concluded following the completion of the east Woods Lake area covering the underexplored Sure Shot and Hill Top historic gold showings which contained grab samples of shear hosted quartz veins grading 2.9 grams per tonne (g/t) gold at Sure Shot and 25.8 g/t gold at Hill Top. The analysis and interpretation phase of the IP survey is ongoing.
2021 Drill Program – Final Results Update
The Company is also reporting that results from the final 6 holes of the 2021 drill program have been received; however, there are no additional gold assays of note.
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.
The reader is cautioned that descriptions of mineralization, soil anomalies and IP anomalies reported in this news release are preliminary and/or early-stage results. While these features are considered encouraging, there is no guarantee that these features will return significant gold and/or copper values when drilled.
Qualified Person
Barry Greene, P.Geo. (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 (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including a newly discovered 20 km district-scale structure and an additional 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.
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. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Twitter
https://twitter.com/corp_tru
LinkedIn
https://www.linkedin.com/company/tru-precious-metals-corp
YouTube
https://www.youtube.com/channel/UCHghHMDQaYgS1rDHiZIeLUg/
- Published in Mining, News Home, Tru Precious Metals
TRU Closes $1,468,800 Non-Brokered Private Placement
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce that on May 17, 2022 it closed the non-brokered private placement (the “Offering”) announced on April 26, 2022 and subsequently amended on May 4, 2022.
TRU Co-Founder and CEO Joel Freudman commented: “This capital raise will allow us to continue upon our early success at our regional-scale Golden Rose Project, where we continue to achieve increasingly exciting results in our exploration program as we advance towards drilling at the highly prospective Jacob’s Pond area. I am especially pleased that we raised funds despite these turbulent markets. We are delighted by the support of Sprott Asset Management and welcome the Marquest Advantaged Mining 2022 Super Flow-Through LP as a new TRU shareholder. The broad participation of our management and board in the Offering, and in particular a significant investment by Resurgent Capital Corp., is a clear signal of our faith in our strategy and the discovery potential of Golden Rose.”
The Company raised gross proceeds of $888,600 from the issuance of flow-through units (“FT Units”) at a price of $0.14 per unit. Each FT Unit consists of one flow-through common share in the capital of the Company (the “FT Shares”), and one flow-through common share purchase warrant (a “FT Warrant”) exercisable for one non-flow-through common share in the capital of the Company (a “Share”) at a price of $0.16 for 24 months from the date of issuance. The FT Shares and FT Warrants will qualify as a “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada).
The Company also raised gross proceeds of $387,700 from the issuance of hard dollar units (“HD Units”) at a price of $0.125 per unit. Each HD Unit consists of one Share and one common share purchase warrant (a “HD Warrant”, and together with the FT Warrants, the “Warrants”) exercisable for one additional Share at a price of $0.16 for 24 months from the date of issuance.
The Company can elect to accelerate the expiry date of the Warrants in the event that the volume-weighted average trading price of the Shares on the TSX Venture Exchange (“TSXV”) equals or exceeds $0.30 for the five preceding trading days, in which case the Warrants will expire thirty days after the date that the Company provides written notice of acceleration.
Subscriptions by insiders of the Company accounted for $171,250 of the gross proceeds of the Offering. Participation by insiders in the Offering is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions by virtue of the exemptions contained in Sections 5.5(b) and 5.7(1)(b).
The securities issued are subject to a statutory hold period expiring September 18, 2022. The Offering is subject to final approval of the TSXV.
Eligible finders received cash commission equal to an aggregate of $54,166, and an aggregate of 389,900 finder warrants, each of which will entitle the holder thereof to purchase one Share at a price of $0.16 for a period of 24 months following the Closing Date.
On May 18, 2022, the Company closed a second tranche of the Offering consisting of 200,000 FT Units and 1,316,000 HD units for gross proceeds of $192,500, which was delayed due to settlement timing. Eligible finders will receive a cash commission of $13,335 and 105,000 finder warrants. The securities issued in the second tranche will be subject to a statutory hold period expiring September 19, 2022.
The securities issued pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About TRU Precious Metals Corp.
TRU (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including a newly discovered 20 km district-scale structure and an additional 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.
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. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
- Published in Mining, News Home, Tru Precious Metals
TRU Announces Amendment to Previously Announced $2.5 Million Non-Brokered Private Placement
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) announces that further to its press release dated April 26, 2022, it has revised the terms of its proposed $2,500,000 non-brokered private placement (the “Offering”).
The Company intends to raise gross proceeds of up to $2,000,000 from the issuance of flow-through units (“FT Units”). Each FT Unit will consist of one flow-through common share in the capital of the Company (the “FT Shares”) and one flow-through common share purchase warrant (a “FT Warrant”) exercisable for one non-flow-through common share in the capital of the Company (a “Share”) for 24 months from the date of issuance. The FT Shares and FT Warrants will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada). The Company has revised the terms of the FT Units and FT Warrants, such that the price of the FT Units will be amended to $0.14 per FT Unit, and the exercise price of the FT Warrants will be amended to $0.16 per Share.
The Company also intends to raise gross proceeds of up to $500,000 from the issuance of hard dollar units (“HD Units”) at a price of $0.125 per unit. Each HD Unit will consist of one Share and one common share purchase warrant (a “HD Warrant”) exercisable for one additional Share at a price of $0.16 for 24 months from the date of issuance.
The exercise price of the non-transferrable finder warrants that eligible finders will be entitled to receive has also been amended to $0.16 per Share.
All other terms of the FT Units and FT Warrants remain the same, and there are no changes to the terms of the HD Units and HD Warrants. The Offering is anticipated to close on or about May 17, 2022.
The securities issued pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About TRU Precious Metals Corp.
TRU (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including a newly discovered 20 km district-scale structure and an additional 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.
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. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Twitter
https://twitter.com/corp_tru
LinkedIn
https://www.linkedin.com/company/tru-precious-metals-corp
YouTube
https://www.youtube.com/channel/UCHghHMDQaYgS1rDHiZIeLUg/
- Published in Mining, News Home, Tru Precious Metals
TRU Announces $2.5 Million Non-Brokered Private Placement
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement for gross proceeds of up to $2,500,000 (the “Offering”).
The Company intends to raise gross proceeds of up to $2,000,000 from the issuance of flow-through units (“FT Units”) at a price of $0.16 per unit. Each FT Unit will consist of one flow-through common share in the capital of the Company (the “FT Shares”) and one flow-through common share purchase warrant (a “FT Warrant”) exercisable for one non-flow-through common share in the capital of the Company (a “Share”) at a price of $0.20 for 24 months from the date of issuance. The FT Shares and FT Warrants will qualify as a “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada).
The Company also intends to raise gross proceeds of up to $500,000 from the issuance of hard dollar units (“HD Units”) at a price of $0.125 per unit. Each HD Unit will consist of one Share and one common share purchase warrant (a “HD Warrant” and together with the FT Warrants, the “Warrants”) exercisable for one additional Share at a price of $0.16 for 24 months from the date of issuance.
The Company can elect to accelerate the expiry date of the Warrants in the event that the volume-weighted average trading price of the Shares on the TSX Venture Exchange (“TSXV”) equals or exceeds $0.30 for the five (5) preceding trading days, in which case the Warrants will expire thirty (30) days after the date that the Company provides written notice of acceleration.
The gross proceeds from the issuance of FT Units will be used to incur “Canadian exploration expenses” that are “flow-through mining expenditures” (as such terms are defined in the Income Tax Act (Canada)) related to the Company’s mineral exploration projects, primarily for drilling at the Company’s Golden Rose Project in central Newfoundland. The proceeds from the issuance of HD Units will be used for general corporate and public company purposes.
The Offering is anticipated to close on or about May 17, 2022. In connection with the Offering, eligible finders will receive (a) a cash commission equal to 7% of the gross proceeds raised from subscribers to the Offering who were introduced by such finder, and (b) such number of non-transferrable finder warrants (“Finder Warrants”) as is equivalent to 7% of the number of FT Units and/or HD Units, as applicable, issued to such subscribers. Each Finder Warrant will entitle the holder thereof to purchase one Share at a price of $0.20 for a period of 24 months following the Closing Date. All securities issued under the Offering will be subject to a four-month and one day statutory hold period in accordance with applicable securities laws. Completion of the Offering remains subject to TSXV approval. The maximum gross proceeds under the Offering is $3,000,000.
The securities issued pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About TRU Precious Metals Corp.
TRU (TSXV: TRU) (OTCQB:TRUIF) (FSE: 706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including a newly discovered 20 km district-scale structure and an additional 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.
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. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
- Published in News Home, Tru Precious Metals
TRU Releases Interim IP Survey Results Over Gold and Copper Showings
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce preliminary results of its Induced Polarization (“IP”) survey at the Company’s flagship Golden Rose Project (“Golden Rose”), further to its announcement of February 9, 2022.
TRU VP of Property Development and Director Barry Greene commented: “Since we first acquired Golden Rose in 2021, the Jacob’s Pond area stood out as being particularly prospective, requiring serious exploration attention. Prospector Shawn Rose did a good job of highlighting an anomalous trend from surface sampling over about 1 km as a starting point for TRU. In 2021 TRU expanded upon the surface sampling. Having now lived with the project for about a year, I believe that the IP data is firmly upgrading that trend in three dimensions, and the surface samples could be just the tip of the iceberg. We are pleased to have now developed many drill and trench targets over a 2 km stretch which will be our focus as the field season approaches.”
Highlights Include:
- The two Jacob’s Pond bedrock gold showings, including a three-meter-wide quartz vein breccia system, have been directly detected by the IP as high-resolution chargeability zones that are larger at depth. Bedrock mineralization grading 3.9 grams per tonne (g/t) gold and 5.61 % copper in a grab sample appears to be directly associated with a large IP anomaly.
- A large and strong chargeability high located 900 metres southwest of the Jacob’s Pond gold showings occurs directly below a cluster of three angular high grade float samples. A 2021 grab sample of this material by TRU personnel assayed 14.3 g/t gold, 368.0 g/t silver and 11.0% copper. (See TRU press release dated November 24, 2021, for additional details.)
- The IP survey has now identified a continuous chargeability high, trending over approximately 2 km along strike, directly associated with a regional multi kilometer copper and gold soil anomaly. IP data has now been collected up to line 43 (see figure 1).
- The strong IP chargeability appears to broaden at depth and is continuing to the northeast approaching the Rose Gold bedrock showing, where historic grab sampling returned 20.3 g/t gold, 1.79% copper and 5.3 g/t silver in a grab sample from a hand trench.
TRU Co-Founder and CEO Joel Freudman added: “We are pleased that our extensive IP work is yielding such positive results and delineating prospective drill targets at Golden Rose. Work to date has significantly increased our understanding of the geological model and will help focus our ongoing exploration and tap into what we now believe is a treasure trove of gold and copper targets. In late November of 2021 we announced the discovery of this highly prospective new 20 km district-scale structure at Golden Rose, in addition to the 45 km section of the Valentine Lake Shear Zone transecting Golden Rose, and so we believe our real estate only continues to appreciate as we diligently and methodically work to unearth the tremendous value at Golden Rose.”
TRU is very encouraged by the early results from the IP survey over the Jacob’s Pond area, which in turn forms a part of the greater than 20km long gold soil anomalous trend identified by TRU as disclosed on November 24, 2021. This Jacob’s Pond section of the IP survey is being carried out on the newly emerging segment of what appears to be a continuation of the Cape Ray Shear Zone.
Figure 1 – Plan View of IP Lines with Mineral Occurrences and Copper/Gold in Soils
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5993/120257_2e2f960ba4af59a7_001full.jpg
Figure 2 – Selected IP Sections with Mineralized Samples
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5993/120257_2e2f960ba4af59a7_002full.jpg
None of the unfolding targets have ever been mechanically trenched or drilled and the area remains a raw grassroots discovery of potentially considerable size.
TRU retained Simcoe Geoscience Limited (“Simcoe”) to deploy Simcoe’s next-generation wireless, high-definition Alpha IP technology at Golden Rose. The IP survey is covering newly-defined plus underexplored historical gold exploration targets. The survey will comprise approximately 56 line kilometre (km) of wireless time domain induced polarization using Simcoe’s Alpha IP™ system. The use of wireless technology substantially reduces the footprint of the survey and the time required as line cutting is not required. The survey is expected to be completed in approximately thirty days.
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.
The reader is cautioned that descriptions of mineralization, soil anomalies and IP anomalies reported in this news release are preliminary and/or early-stage results. While these features are considered encouraging, there is no guarantee that these features will return significant gold and/or copper values when drilled.
Qualified Person
Barry Greene, P.Geo. (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 (TSXV:TRU) (OTCQB: TRUIF) (FSE: 706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including 45 kilometres 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.
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. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Twitter
https://twitter.com/corp_tru
LinkedIn
https://www.linkedin.com/company/tru-precious-metals-corp
YouTube
https://www.youtube.com/channel/UCHghHMDQaYgS1rDHiZIeLUg/
- Published in News Home, Tru Precious Metals
TRU Precious Metals Announces 2022 Exploration Program for Golden Rose Project
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce details of its 2022 exploration and work program at its flagship Golden Rose Project (“Golden Rose”), which is now underway.
“Our 2022 exploration season is off to a great start,” said TRU President Stephen Lautens. “The IP survey we announced last month is underway in identifying new high-priority targets for further exploration across our district-scale land package at Golden Rose. A large soil sampling program will further identify new areas for follow-up drilling. Since we acquired Golden Rose last year, TRU has rapidly identified and explored multiple gold targets to show the discovery potential of this property, developing a robust pipeline of drill targets with a view to making Golden Rose a turn-key exploration and development project. We look forward to following up discoveries with new drilling and trenching later this year.”
Golden Rose is a regional-scale land package covering approximately 236 square kilometres (km2) 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.
Simcoe IP Survey Update
On February 9, 2022, TRU announced contracting Simcoe Geoscience Limited (“Simcoe”) for an IP survey at Golden Rose. The IP survey is deploying Simcoe’s next-generation wireless, high-definition Alpha IP™ technology. The survey will comprise approximately 56 line km of wireless time-domain induced polarization using Simcoe’s Alpha IP™ system and is expected to be complete within 60 days. The detailed data compiled from this survey will guide TRU’s 2022 trenching and drilling program and be instrumental in developing an additional inventory of highly prospective exploration targets at Golden Rose.
Figure 1: Golden Rose Project – Regional IP Survey Line Locations
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5993/117532_8ab672706489f84f_001full.jpg
Barry Greene, VP of Property Development and Director of TRU, added: “I am excited to kick off TRU’s 2022 exploration program. The goal of our program will be to identify additional drill targets for 2022 and beyond. In November 2021, we confirmed a second district-scale gold trend at Golden Rose through an extensive soil sampling program. One area of strong interest that was identified by our previous program was the Jacob’s Pond gold zone, which we will be focusing on over the coming months. Simcoe’s detailed IP survey is actively underway over this gold target. The proposed soil sampling program is planned to be an early season blitz using a large field crew,” Mr. Greene continued. “It is designed to provide early results to generate targets that can be trenched and drilled later this field season.”
Soil and Till Sampling Work
TRU will also undertake an extensive soil and till sampling program at Golden Rose. The multi-crew program is planned to collect more than 10,000 samples at individual sites across the property, designed to identify new gold mineralization and provide additional targets for TRU’s 2022 trenching and drilling programs. The work will focus on completing and infilling gaps in soils coverage over the two primary, deep seated structural corridors that have been delineated over much of the strike length running through the property.
In particular, sampling will be done over the numerous known gold bedrock showings on which minimal previous geochemical or ground geophysical coverage is available, and which are located on primary, secondary or tertiary order structures which emanate from a crustal scale shear zone. Of particular interest in the southwest are the Glimmer Pond, Mink Pond and Falls Zone gold showings, which display a combination of quartz veining and/or regional silicification on which minimal historical work has been carried out. Historical prospecting in the Glimmer Pond area did identify a quartz rich float sample with visible gold with a grab sample which assayed 213.8 grams per tonne (g/t) gold.
Figure 2: Golden Rose Project – Proposed Regional 2022 Soil and Till Survey
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5993/117532_8ab672706489f84f_002full.jpg
Drilling Update
The Company has previously reported that its 2021 drill program encountered gold mineralization in 9 out of the 9 drill holes reported to date at the Woods Lake gold zone (“Woods Lake”), including continuous near-surface gold mineralization (see press releases of March 3 and March 9, 2022). The gold zone has now been intersected in diamond drilling over 800 metres of strike length and is open at depth and along strike.
A total of 11 of the 22 drill holes from the 2021 drilling season have been reported to date. The Company is awaiting assay results for the remaining holes and will report them as assays are received.
The Company is compiling and modeling the 2021 drill program results for Woods Lake. A higher grade core has now been modeled and is showing characteristics of a doubly plunging structurally controlled gold zone. Additional drilling will be required to fully explore and delineate these trends.
Qualified Person
Barry Greene, P.Geo. (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 Beltand has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 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. TRU’s common shares trade on the TSX Venture Exchange under the symbol “TRU”, on the OTCQB Venture under the symbol “TRUIF”, and on the Frankfurt exchange under the symbol “706”.
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. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Stephen Lautens
President
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Cell: (416) 738-5261
Email: stephen@trupreciousmetals.com
Website: www.trupreciousmetals.com
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
Website: www.trupreciousmetals.com
To connect with TRU via social media, below are links:
Twitter
https://twitter.com/corp_tru
LinkedIn
https://www.linkedin.com/company/tru-precious-metals-corp
YouTube
https://www.youtube.com/channel/UCHghHMDQaYgS1rDHiZIeLUg/
Facebook
https://www.facebook.com/TRU-Precious-Metals-Corp-100919195193616
- Published in News Home, Tru Precious Metals
TRU Precious Metals Hits More Continuous Gold Mineralization at Golden Rose Project
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE:706) (“TRU” or the “Company”) is pleased to announce new assay results from an additional 4 of 22 holes completed during its 2021 winter drill program at its flagship Golden Rose Project in Central Newfoundland (“Golden Rose”).
Highlights
- 10.0 metres (m) of 1.14 grams per tonne (g/t) gold starting at 52.0 metres in drill hole WL-21-04, which forms the base of a longer 56.0 metre interval grading 0.4 g/t gold starting from the bedrock surface.
- 7.0 metres of 1.81 g/t gold starting from 77.0 metresin hole WL-21-10, which forms the base of a longer 70 metre interval starting at 19.0 m and grading 0.37 g/t gold.
- 1.5 metres of 3.60 g/t gold starting from 27.5 metres in hole WL-21-01, plus an additional 22.0 metres of 0.55 g/t gold starting at 38.0 metres, including 3.0 metres of 1.96 g/t gold at the base of the intercept.
TRU has now reported on 11 holes in total with assays from 11 holes still pending. Reported drilling results now define a primary gold zone that is 800m in strike length (from holes WL-21-06 to WL-21-14) and is open both along strike and at depth.
“I am very pleased to report that our drilling has now hit gold mineralization in 9 out of 9 of the holes reported so far at Woods Lake,” commented Stephen Lautens, President of TRU. “Consistency of results is very important in building a successful story of exploration, and these near-surface results are a solid basis for further and expanded exploration. We are also looking forward to exploring a number of other highly prospective targets that have shown even greater gold values at surface.”
The drill program at Golden Rose consisted of a total of 22 HQ diamond drill holes for a total of 4,102.7m, covering both the Woods Lake Gold Zone prospect (“Woods Lake”) and the King George IV Lake area (“KG4”). Golden Rose is a regional-scale 236 square kilometre (km) land package, including 45 km of strike length along the deposit-bearing Cape Ray – Valentine Lake Shear Zone, and is located directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
Barry Greene, VP of Property Development and Director of TRU, added: “The thick, near surface, gold zone encountered in holes WL-21-01, WL-21-04 and WL-21-10 are indicative of a bulk tonnage gold target. Gold mineralization in hole WL-21-10 actually straddles the faulted contact between the hanging wall Bay du Nord group metasediments and the underlying monzogranite. We continue to be impressed by the voluminous intersections of altered and mineralized felsic intrusive in this drill program.”
Table 1 – Woods Lake uncut assay highlights
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Zone |
WL-21-01 | 27.50 | 29.00 | 1.50 | 3.60 | Woods Lake |
And | 38.00 | 60.00 | 22.00 | 0.55 | |
Including | 57.00 | 60.00 | 3.00 | 1.96 | |
WL-21-04 | 7.00 | 62.00 | 56.00 | 0.40 | |
Including | 52.00 | 62.00 | 10.00 | 1.14 | |
And | 74.00 | 76.00 | 2.00 | 2.48 | |
And | 146.00 | 147.00 | 1.00 | 4.96 | |
WL-21-10 | 19.00 | 88.00 | 70.00 | 0.37 | |
And | 77.00 | 84.00 | 7.00 | 1.81 | |
WL-21-14 | 86.60 | 88.87 | 2.27 | 0.98 |
Figure 1 – Woods Lake Drill Hole Locations
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5993/116033_47624391940e8b41_001full.jpg
Table 2 – Woods Lake Collar Details
Hole No. | Azimuth (°) | Inclination (°) | Length (m) | UTM E | UTM N |
WL-21-01 | 040 | -52 | 110 | 441526 | 5334260 |
WL-21-04 | 040 | -45 | 151 | 441642 | 5334234 |
WL-21-10 | 040 | -45 | 128 | 441625 | 5334212 |
WL-21-14 | 040 | -45 | 105 | 441107 | 5334635 |
The gold intercept in WL-21-14 was testing a gold soil geochemical anomaly that was along strike to the northwest from the main Woods Lake gold zone. This hole intersected quartz veining with arsenopyrite and pyrite in sedimentary rocks, indicating that gold can be encountered not only in the felsic intrusive, but also in the surrounding rocks.
Drilling Quality Assurance/Quality Control (“QA/QC”)
All HQ core is geotechnically measured for RQD’s, logged and marked for sampling. The core is then cut by Company personnel, with half put into bags with unique sample tags for identification while the other half is retained for reference. The bags are sealed with a security tag and are then transported directly to the lab by TRU staff. All rock samples are analyzed at Eastern Analytical Ltd. (“Eastern Analytical”) of 403 Little Bay Road, Springdale, NL, a commercial laboratory that is ISO/IEC 17025 accredited and independent of TRU. Eastern Analytical pulverized 1,000 grams of each sample to 95% < 89 μm. Samples are analyzed using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP-OES analysis. All samples with visible gold or assaying above 1.00 g/t Au are further assayed using metallic screen to mitigate the presence of the nugget effect of coarse gold. Standards and blanks are inserted at defined intervals for QA/QC purposes by the Company as well as Eastern Analytical. True widths for reported intervals have yet to be determined. The TRU exploration program design is consistent with industry best practices and the program is carried out by qualified persons employing a QA/QC program consistent with National Instrument 43-101.
Qualified PersonBarry Greene, P.Geo. (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 Beltand has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including 45 kilometres 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. TRU’s common shares trade on the TSX Venture under the symbol “TRU”, on the OTCQB Venture under the symbol “TRUIF”, and on the Frankfurt exchange under the symbol “706”.
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. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Stephen Lautens
President
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Cell: (416) 738-5261
Email: stephen@trupreciousmetals.com
Website: www.trupreciousmetals.com
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
Twitter: @JoelFreudman
To connect with TRU via social media, below are links:
Twitter
https://twitter.com/corp_tru
LinkedIn
https://www.linkedin.com/company/tru-precious-metals-corp
YouTube
https://www.youtube.com/channel/UCHghHMDQaYgS1rDHiZIeLUg/
Facebook
https://www.facebook.com/TRU-Precious-Metals-Corp-100919195193616
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support of the Twilite Gold Project through the Junior Exploration Assistance Program. TRU has been approved for funding for a portion of its 2021 exploration activities at the Twilite Gold Project.
- Published in Mining, News Home, Tru Precious Metals
TRU Precious Metals Continues to Intersect Gold in New Drill Results from Golden Rose Project
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce additional assay results from 5 of 22 holes completed during its 2021 winter drill program at its flagship Golden Rose Project in Central Newfoundland (“Golden Rose”).
Highlights
- 12 metres (m) grading 1.01 grams per tonne (g/t) gold from drill hole WL-21-12
- 7m grading 1.71 g/t gold from drill hole WL-21-06, including 2.39 g/t over 4m
The drill program at Golden Rose consisted of a total of 22 HQ diamond drill holes for a total of 4,102.7m, covering both the Woods Lake Gold Zone prospect (“Woods Lake”) and the King George IV Lake area (“KG4”). Golden Rose is a regional-scale 236 square kilometre (km) land package, including 45 km of strike length along the deposit-bearing Cape Ray – Valentine Lake Shear Zone, and is located directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.
Barry Greene, VP of Property Development and Director of TRU, commented, “I’m pleased that these results continue to intersect gold and define Woods Lake, expanding the gold zone both up-dip and along strike near surface. A focus of our 2021 drill program was to begin delineating a near-surface gold zone that could potentially be open pittable. This is especially important given the near-term production decision at our neighbour Marathon’s Valentine Gold Project.”
Table 1 – Woods Lake Uncut Assay Highlights
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Zone |
WL-21-06 | 65.00 | 72.00 | 7.0 | 1.71 | Woods Lake |
Including | 65.00 | 69.00 | 4.0 | 2.39 | |
WL-21-11 | 22.00 | 35.00 | 13.00 | 0.40 | |
Including | 22.00 | 25.00 | 3.00 | 0.84 | |
WL-21-12 | 20.00 | 32.00 | 12.0 | 1.01 | |
Including | 20.00 | 25.00 | 5.00 | 1.42 |
Figure 1 – Woods Lake Drill Hole Locations
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5993/115434_9ca3e6aff474f894_001full.jpg
Table 2 – Woods Lake and KG4 Collar Details
Hole No. | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N |
WL-21-06 | 40 | 45 | 166 | 441747 | 5334152 |
WL-21-11 | 40 | 45 | 56 | 441588 | 5334252 |
WL-21-12 | 40 | 45 | 59 | 441541 | 5334286 |
KG-21-01 | 283 | 55 | 176 | 438762 | 5338204 |
KG-21-02 | 90 | 55 | 176 | 438341 | 5338287 |
The new results at Woods Lake expand upon the gold rich felsic intrusive with mineralization consisting of a network of thin, quartz-pyrite-hematite-arsenopyrite veins, fractures and accompanying wall-rock sericitization and silicification.
Woods Lake is directly road accessible, with infrastructure including a high voltage powerline and paved highway located just a few kilometers to the east. The zone has been drilled and partially delineated over approximately 550m along strike. Historical drill intersections include 1.37 g/t gold over 26.31m (includes 6.18 g/t gold over 5.11m) and 2.15 g/t gold over 12.6m (including 3.65 g/t gold over 6.0m).
The Company has also received results from two exploratory drill holes at KG4 which did not return any significant gold values. These initial holes, which were the first ever drilled at KG4, were on weaker, secondary IP targets, and were not targeting the large horseshoe shaped IP anomaly where a quartz stockwork containing chalcopyrite was noted in drill core.
The Company has an additional 15 drill holes currently in for assay analysis and will report results are they are received and reviewed.
The Company is also reporting the issuance in February of 800,000 TRU shares to Altius Resources Inc. (“Altius”), pursuant to the Option Agreement between TRU and Altius for Golden Rose. The shares were issued at a deemed price of $0.25 each, and the Option Agreement remains in good standing.
Finally, TRU continues to enjoy support from Insiders as CEO Joel Freudman, and President Stephen Lautens purchased shares of TRU in February.
Drilling Quality Assurance/Quality Control (“QA/QC”)
All HQ core is geotechnically measured for RQD’s, logged and marked for sampling. The core is then cut by Company personnel, with half put into bags with unique sample tags for identification while the other half is retained for reference. The bags are sealed with a security tag and are then transported directly to the lab by TRU staff. All rock samples are analyzed at Eastern Analytical Ltd. (“Eastern Analytical”) of 403 Little Bay Road, Springdale, NL, a commercial laboratory that is ISO/IEC 17025 accredited and independent of TRU. Eastern Analytical pulverized 1,000 grams of each sample to 95% < 89 μm. Samples are analyzed using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP-OES analysis. All samples with visible gold or assaying above 1.00 g/t Au are further assayed using metallic screen to mitigate the presence of the nugget effect of coarse gold. Standards and blanks are inserted at defined intervals for QA/QC purposes by the Company as well as Eastern Analytical. The TRU exploration program design is consistent with industry best practices and the program is carried out by qualified persons employing a QA/QC program consistent with National Instrument 43-101.
Qualified Person
Barry Greene, P.Geo. (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 Beltand has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including 45 kilometres 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. TRU’s common shares trade on the TSX Venture under the symbol “TRU”, on the OTCQB Venture under the symbol “TRUIF”, and on the Frankfurt exchange under the symbol “706”.
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. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Stephen Lautens
President
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Cell: (416) 738-5261
Email: stephen@trupreciousmetals.com
Website: www.trupreciousmetals.com
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
Twitter: @JoelFreudman
To connect with TRU via social media, below are links:
Twitter
https://twitter.com/corp_tru
LinkedIn
https://www.linkedin.com/company/tru-precious-metals-corp
YouTube
https://www.youtube.com/channel/UCHghHMDQaYgS1rDHiZIeLUg/
Facebook
https://www.facebook.com/TRU-Precious-Metals-Corp-100919195193616
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support of the Twilite Gold Project through the Junior Exploration Assistance Program. TRU has been approved for funding for a portion of its 2021 exploration activities at the Twilite Gold Project.
- Published in Mining, News Home, Tru Precious Metals
TRU Precious Metals Contracts Simcoe Geoscience for IP Survey at Golden Rose Project
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce that it has retained Simcoe Geoscience Limited (“Simcoe”) to conduct an Induced Polarization (“IP”) survey at the Company’s flagship Golden Rose Project (“Golden Rose”) in the Central Newfoundland Gold Belt, scheduled to commence later this month. The Company is also providing an interim update on the delay in receiving drill results from its winter 2021 drilling program at Golden Rose.
Golden Rose is a regional-scale land package covering approximately 236 square kilometres (km2) 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.
Winter 2021 Drillhole Assays Update
TRU reported results from 2 drillholes in its press release dated January 11, 2022, and is still awaiting assay results from the remaining 20 of the 22 drillholes from its recent approximately 4,100 metre drill program at Golden Rose. TRU has not yet received any further results to report at present. The Company continues to await all outstanding assays, including those from 3 holes containing visible gold at the Woods Lake Gold Zone, as well as holes at the King George IV lake area where the Company discovered a new quartz-pyrite-chalcopyrite (copper) stockwork system.
The sole assay lab in Newfoundland is currently experiencing a longer than usual turnaround time for analytical results, sometimes resulting in delays of up to several months, due to Covid and the increased demand from rapidly expanding local mineral exploration. TRU is looking at ways to expedite receiving results from submitted samples, and in any case continues to expect to receive results in batches on a rolling basis over the coming weeks and months, which will be reported in a timely manner as they are received.
Simcoe IP Survey
TRU will be deploying Simcoe’s next-generation wireless, high-definition Alpha IP™ technology at Golden Rose. The IP survey will cover newly defined plus underexplored historical gold exploration targets. The survey will comprise approximately 56 line km of wireless time domain induced polarization using Simcoe’s Alpha IP™ system. The use of wireless technology substantially reduces the footprint of the survey and the time required as line cutting is not required. The survey is expected to be completed in approximately 60 days from commencement.
Barry Greene, VP of Property Development and Director of TRU, commented: “We are delighted to partner with Simcoe at Golden Rose. Their unparalleled modelling experience and proprietary Alpha IP™ system will provide detailed data essential to planning our 2022 trenching and drilling programs. The information garnered from this IP survey will be crucial to developing a well-defined set of targets at Golden Rose for the various high-priority areas, and will add to our extensive inventory of grassroots gold and copper targets for an expanded regional exploration program throughout 2022. It is also encouraging that Simcoe has worked successfully with other junior resource companies in the Newfoundland Gold Belt, and we are looking forward to the completion of this project.”
Alpha IP is a “green” survey technology with no tree cutting required – an example of effective, next generation and non-destructive exploration methods at work. Simcoe’s history of geophysical discovery spans from coast to coast in Canada, with Alpha IP data and surveys playing a key role in the recent discovery of what is becoming Ascot Resources’ new mine in interior BC. In addition, Simcoe works locally in Newfoundland with clients such as Aurwest Resources.
Simcoe will be surveying Golden Rose with deep-penetrating Alpha IP technology to acquire 2D data which then can be quickly modeled and imaged in high-definition 3D. This comprehensive 3D imaging will ultimately provide TRU with the precise targeting needed to potentially intersect gold-related mineralization and structures of interest across a substantial portion of Golden Rose. Trenching and drilling of recommended targets can quickly follow the Alpha IP targeting later in 2022.
Figure 1: Golden Rose Project – Planned IP Survey Lines
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5993/113228_547592e7f48adadc_001full.jpg
Finally, TRU is also pleased to report continued support from Insiders adding to their share positions. TRU’s VP of Property Development and Director, Barry Greene, and TRU’s Corporate Secretary Jo-Anne Archibald both purchased TRU shares last week.
Qualified Person
Barry Greene, P.Geo. (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 Beltand has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 sq km 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. TRU’s common shares trade on the TSX Venture under the symbol “TRU”, on the OTCQB Venture under the symbol “TRUIF”, and on the Frankfurt exchange under the symbol “706”.
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. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Twitter: @JoelFreudman
Email: ir@trupreciousmetals.com
Website: www.trupreciousmetals.com
Stephen Lautens
President
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Cell: (416) 738-5261
Email: stephen@trupreciousmetals.com
Website: www.trupreciousmetals.com
To connect with TRU via social media, below are links:
Twitter
https://twitter.com/corp_tru
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- Published in Mining, News Home, Tru Precious Metals