TRU Precious Metals Appoints Stephen Lautens as President
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce that, subject to regulatory approval, Stephen Lautens has been appointed President of the Company, effective February 1, 2022. He will be working alongside TRU’s Co-Founder & CEO Joel Freudman as TRU advances its flagship Golden Rose Project in the prolific Central Newfoundland Gold Belt.
Mr. Lautens has extensive experience as a mining executive and general counsel, in roles ranging from business development, corporate communications, writing, editing, compliance, and investor relations. He has previously served as a key member of management teams during the growth and successful sale of public and private corporations, including most notably a 7-year tenure as Vice President of Corporate Communications & General Counsel with TSX-listed Inter-Citic Minerals Inc. until its sale for $260 million to a large Chinese mining company.
Mr. Lautens has operated internationally and possesses strong internal and external communications and presentation skills, combined with unique problem-solving disciplines derived from broad experience and legal training. He also has a long history of senior board participation in a wide variety of charitable and not-for-profit organizations. Mr. Lautens has a B.A. from University of Toronto and a J.D. from Queen’s University.
In his role as President, Mr. Lautens will work closely with TRU CEO Joel Freudman, supporting him in the Company’s public-facing activities on a day-to-day basis. Leaving the role of President, Mr. Freudman continues to be active as TRU’s CEO in order to focus his efforts on strategy and corporate initiatives for the Company.
TRU Co-Founder & CEO Joel Freudman commented, “We are thrilled that Stephen has agreed to bring his extensive wealth of experience to TRU as our new President. With a background in the resource sector and capital markets, and marketing and communication expertise, he is the ideal fit for TRU in our growth and development stage. Furthermore, Stephen has a solid track record in developing strategies and creating value in companies, and I look forward to working closely with him as we continue to unlock value for TRU shareholders.”
Stephen Lautens, President of TRU, added: “I look forward to the opportunity to bring my experience, contacts, and industry knowledge to TRU to assist in developing its Golden Rose Project. With a recently completed drill program and pending results, I believe this is an ideal time to build a more robust market awareness of TRU’s district-scale gold project. Newfoundland has been described as experiencing a ‘modern-day gold rush’ and communicating to the market TRU’s ideal position in the heart of the Central Newfoundland Gold Belt will be my top priority.”
The Company is also pleased to report continued support from Insiders as CEO Mr. Freudman, and Corporate Secretary Jo-Anne Archibald purchased shares of TRU on Friday, January 21, 2022.
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
Twitter: @StephenLautens
Email: stephen@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 Mining, News Home, Tru Precious Metals
TRU Precious Metals Announces Completion of Drill Program at Golden Rose Project in Central Newfoundland and Reports Gold in Initial Assay Results
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce that it has completed the diamond drill program, as previously announced on October 19, 2021, at its flagship Golden Rose Project in Central Newfoundland (“Golden Rose”). The drill program comprised a total of 22 HQ diamond drill holes for a total of 4,102.7 metres (m), covering both the Woods Lake Gold Zone prospect (“Woods Lake”) and the King George IV Lake area (“KG4”) of Golden Rose (Figures 2 and 3, respectively). The Company is also pleased to announce assay results from 2 of these holes.
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.
Highlights
- Discovery of a new quartz-pyrite-chalcopyrite (copper) stockwork system in mafic volcanics at KG4. This intercept is near a large boulder field of similar material found along the shoreline.
- Expansion of Woods Lake mineralized system by 300m along strike containing quartz- pyrite-arsenopyrite veining, in footwall metasedimentary rocks in hole WL-21-14.
- 12 of the 16 holes drilled at Woods Lake that targeted the known gold zone successfully encountered the altered and mineralized monzogranite (QFP), which is host to most historical gold intercepts on this zone.
- Notable early results include 9.9m @ 2.13 grams per ton (g/t) gold (Au) within a broader interval of 18.9m @ 1.26 g/t Au, from drill hole WL-21-03 at Woods Lake (Table 1).
- Specks of visible gold (Figure 1) have been identified in three drill holes at Woods Lake: WL-21-04 @ depths of 58.45m and 129.82m; WL-21-05 @ depths of 52.79m and 55.04m; and WL-21-10@ 77.56m depth.
Barry Greene, VP of Property Development and Director of TRU, commented: “We are extremely encouraged with our early drill results from this program as we await further assays. Diamond drilling at both KG4 and Woods Lake have successfully identified new mineralized areas for further expansion. Meanwhile, given the plethora of grassroots gold and copper-gold targets at Golden Rose, we are already planning an expansion of our regional exploration program for 2022. In particular, the Jacob’s Pond gold showing stands out as an immediate area of interest.”
At Woods Lake, a total of 16 drill holes were completed for 2,911.7m (Figure 2). Exploration drilling 300m along strike to the northwest of the known gold zone was targeting the continuation of the anomalous gold soil geochemistry associated with the gold zone. In addition to successfully intersecting the mineralized QFP in 12 holes, drill hole WL-21-14 successfully intersected quartz-pyrite-arsenopyrite veining from 86.60-97.97m. This mineralization is hosted in quartz veins and breccias.
Also at Woods Lake, localized specks of visible gold were documented in quartz veins and breccias both in the primary host QFP and in narrow quartz veins in the footwall, specifically at 129.82m of WL-21-04. This further confirms that gold mineralization potential exists outside the primary host intrusive rocks and broadens the scope of potential targets.
Figure 1 – Visible Gold in Drill Core at Woods Lake
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TRU Co-Founder and CEO, Joel Freudman, added: “We are delighted to have completed our first drill program at our flagship Golden Rose Project, which our geological team worked diligently to complete as efficiently and safely as possible. Notwithstanding that the program was slightly reduced from the original plan of 5,000 metres due to inclement weather in December, I am pleased that we finished on time. We are equally pleased to commence reporting our initial results, as both of the first two reported holes intersected notable intervals of gold mineralization. We look forward to receiving more fulsome assay results to attain a better understanding of the mineralized areas and will report such results on a rolling basis as we receive them over the next weeks to come. It will be an exciting 2022 at Golden Rose.”
At KG4, a total of 6 drill holes were completed for 1,191m (Figure 3). Drilling was focused on testing selected IP chargeability anomalies identified in a survey completed in November 2021. Mineralization consisting of disseminated pyrite with local chalcopyrite was intercepted in most drill holes. Drill hole KG-21-05 intercepted two zones of bleached mafic volcanics with stockwork/breccia quartz-carbonate-epidote veining containing chalcopyrite and pyrite. The zones were intersected from 118.65-122.5m (a 3.85m interval) and 136.5-137.4m (a 0.9m interval). Sampling is underway and assays are pending.
Table 1. Uncut Assay
Highlights – Woods Lake Drill
Core
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Zone |
WL-21-02 | 10.00 | 20.00 | 10.00 | 0.64 | Woods Lake |
WL-21-03 | 5.10 | 24.00 | 18.90 | 1.26 | |
Including | 5.10 | 14.00 | 9.90 | 2.13 |
Figure 2 – Drill Hole Locations at Woods Lake
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https://orders.newsfilecorp.com/files/5993/109574_adb6550df4310bc6_002full.jpg
Table 2.: Collar Details for WL-21-02
and WL-21-03
Hole No. | Azimuth (°) | Dip (°) | Length (m) | UTM (E) | UTM (N) |
WL-21-02 | 40 | 45 | 118.7 | 441557.9 | 5334305.8 |
WL-21-03 | 40 | 45 | 91.0 | 441606.3 | 5334271.2 |
Figure 3 -Drill Hole Locations at KG4
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Drill core cutting and sampling has now resumed following the holiday break and will continue over the next two to three weeks. Given the continued backlog at Newfoundland’s only assay lab, TRU anticipates that it will not have the full set of assays from this drill program in hand until the end of March 2022; however, results will be released by TRU as they are received in larger batches throughout the next several months.
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 Belt and has an option with a subsidiary of TSX-listed Altius Minerals Corporation to purchase 100% of the Golden Rose Project, located along the deposit-bearing Cape Ray – Valentine Lake Shear Zone. TRU also owns 100% 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. (“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/.
For further information about TRU, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
Website: www.trupreciousmetals.com
- Published in Mining, News Home, Tru Precious Metals
TRU Precious Metals Completes Purchase of Claims Contiguous with Golden Rose Project
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce that, further to its press release dated November 15, 2021, it has completed the acquisition of 100% ownership of a mineral license covering 200 hectares (the “Purchased Assets”) contiguous with the Company’s flagship Golden Rose Project (“Golden Rose”) (Figure 1).
As previously disclosed, the vendor of the Purchased Assets received $25,000 in cash and 135,000 common shares in the capital of TRU at a deemed price of $0.16 per common share as consideration. All such common shares of TRU are subject to a hold period expiring four months and one day from December 15, 2021. TRU has also granted the vendor a 2.0% net smelter returns royalty from any future mineral production on the Purchased Assets, of which 1.0% can be repurchased by TRU for $1,000,000.
As announced on November 18, 2021, TRU identified a large horseshoe-shaped IP chargeability anomaly in the King George IV area of Golden Rose, and carried out targeted diamond drilling in the area to test this and other IP geophysical targets. The horseshoe-shaped IP anomaly is located immediately on the eastern claim boundary of the Purchased Assets and thus increases the potential prospectivity of the Purchased Assets.
Figure 1: Purchased Mineral License & Recently-Staked Licenses
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The acquisition of the Purchased Assets remains subject to regulatory approval by the TSX Venture Exchange.
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 Belt, and has an option with a subsidiary of TSX-listed Altius Minerals Corporation to purchase 100% of the Golden Rose Project, located along the deposit-bearing Cape Ray – Valentine Lake Shear Zone. TRU also owns 100% 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. (“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/
For further information about TRU, please contact:
Joel Freudman
Co-Founder, President & 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 Mining, News Home, Tru Precious Metals
TRU Precious Metals Confirms Second District-Scale Gold Trend Through Soil Sampling Program at Golden Rose Project
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to report recently-received soil sampling results from its flagship Golden Rose Project (“Golden Rose”) in Newfoundland, Canada.
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 (“Matador”) 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, VP 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 (Figure 1), 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 (Figure 2). 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 (g/t) gold, 11.0% copper, 368 g/t silver and 0.12% antimony (Figure 3).
Figure 1 – Regional 2021 gold in soils on geology
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Figure 2 – Regional 2021 gold in soils on gradient magnetics
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Figure 3 – Regional 2021 gold in soils near Jacob’s Pond Gold Prospect
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Joel Freudman, Co-Founder and CEO 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 km 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 IP 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, 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 Belt and has an option with a subsidiary of TSX-listed Altius Minerals Corporation to purchase 100% of the Golden Rose Project, located along the deposit-bearing Cape Ray – Valentine Lake Shear Zone. TRU also owns 100% 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. (“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/.
For further information about TRU, please contact:
Joel Freudman
Co-Founder, President & 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
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 Moves Drilling to King George IV Area of Golden Rose Project After Discovering More Visible Gold Grains at Surface
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce that the Company has commenced drilling in the King George IV lake area (“KG4”) at its flagship Golden Rose Project (“Golden Rose”), in the Central Newfoundland Gold Belt, building off a recently-completed IP geophysical survey. This is part of the Company’s approximately 5,000 metre (m) diamond drill program underway at Golden Rose, as previously announced on October 19, 2021.
Highlights
- 500m x 400m IP anomaly identified near pristine gold grains on shoreline of KG4
- Larger, approximately 1.5 kilometre (km) x 1.1 km horseshoe shaped IP anomaly identified near a cluster of quartz stockwork containing chalcopyrite, sphalerite, pyrite and pyrrhotite
- Till sampling at KG4 yielded numerous anomalous values over 500 parts per billion (ppb) gold (Au), including 1,699 ppb Au coincident with IP anomaly
- First ever drill program at KG4
Barry Greene, VP of Property Development and Director of TRU, commented: “As we take a pause to await assay results from our drilling at the Wood Lake Gold Zone, including drill core with visible gold, we are excited to have now moved drilling to the never-before-drilled KG4. Between these new till sampling results showing significantly more visible gold grains at KG4, and the IP survey delineating clear drill targets, we believe that we are vectoring in on the potential source of the earlier visible gold grains we discovered and announced on July 14, 2021. We are very encouraged that these samples contain higher gold concentrations.”
Current Exploration
TRU is pleased to report that several geologically well-situated IP targets have been identified and initial drill targets have been selected. The initial drilling is focusing on a 500m x 400m N-S trending IP anomaly (Figure 1) located a few hundred meters upslope of the KG4 shoreline, where 97 gold grains were returned from the previously-announced panned sample containing numerous pristine gold grains. The IP anomaly is directly upslope of the cemented hardpan gossan identified near those gold grains. A similar layer of hardpan gossan can also be traced for approximately 500m south, coincident with the trace of the IP anomaly.
Figure 1: IP Chargeability Anomalies at KG4 With Gold Grain Counts in Till
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Furthermore, an expanded till sampling program has also been completed in the surrounding area for gold grain analysis and for geochemical analysis. Results from these samples has revealed multiple sites containing high gold grain counts (Figure 1), including pristine gold grains suggestive of a locally derived source. Gold grain counts include a sample containing 50 gold grains also coincident with the IP anomaly. In addition, geochemical results have returned highly anomalous gold values coincident with the same IP anomaly, including multiple tills over 500 ppb Au and one till sample grading 1,699 ppb Au (Figure 2).
Figure 2: Till Sampling Results at KG4
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Further drilling at KG4 will focus on a large horseshoe-shaped IP anomaly measuring approximately 1.5km x 1.1 km. This anomaly coincides with and expands upon a cluster of large angular blocks of mineralized rocks with a quartz stockwork containing chalcopyrite, sphalerite, pyrite and pyrrhotite found on the shoreline of KG4.
TRU Co-Founder and CEO Joel Freudman added: “We are increasingly excited about our ongoing drilling program at Golden Rose. The strong presence of even more visible gold grains at KG4 than previously discovered further justifies the prospectivity of Golden Rose. I am extremely pleased with Barry’s leadership of our field team, and their excellent execution to date of TRU’s 5,000-metre diamond drill program, which continues on schedule under the close supervision of our Exploration Manager Pearce Bradley and our other teammates. With more than half of our planned drill metreage remaining, we look forward to a continued flow of good news to report.”
Geological Background
The KG4 area within Golden Rose is geologically located along the structural contact between the younger Windsor Point Group and the older King George IV ophiolite. Fieldwork by TRU’s geologists in the 2021 field season has led to the interpretation that this contact is an inferred thrust fault and can be regionally correlated with the Cape Ray Shear Zone. Notably, the cluster of mineralized quartz stockwork blocks and panned pristine gold grains are located along the magnetic low which defines this structural contact. To the southwest, on Matador Mining Ltd.’s (“Matador”) Cape Ray project, gold deposits are associated with a similar structural contact.
Golden Rose overall is a regional-scale land package covering approximately 236 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 immediately to the northeast and Matador’s Cape Ray Gold Project immediately to the southwest.
Note that till samples and other exploration results are select samples and are not necessarily representative of mineralization on KG4. Readers are cautioned that these grades are conceptual in nature; there has been insufficient exploration by the Company or its qualified person at KG4 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.
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 Belt and has an option with a subsidiary of TSX-listed Altius Minerals Corporation to purchase 100% of the Golden Rose Project, located along the deposit-bearing Cape Ray – Valentine Lake Shear Zone. TRU also owns 100% 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. (“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/
For further information about TRU, please contact:
Joel Freudman
Co-Founder, President & 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
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TRU Precious Metals Continues Consolidation of Golden Rose Project
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE:706) (“TRU” or the “Company”) is pleased to announce it has entered into an asset purchase agreement (the “Purchase Agreement”) to acquire 100% ownership of a mineral license covering 200 hectares (the “Property”) contiguous with the Company’s flagship Golden Rose Project (“Golden Rose”) in the Central Newfoundland Gold Belt, along with related permits and technical data (collectively, the “Purchased Assets”).
Pursuant to the Purchase Agreement, the vendor will receive the following consideration from TRU for the Purchased Assets: (i) $25,000 in cash; (ii) 135,000 common shares in the capital of TRU (“TRU Shares”) at a deemed price of $0.16 per TRU Share; and (iii) the granting by TRU of a 2.0% net smelter returns royalty from any future mineral production on the Property, of which 1.0% can be repurchased by TRU for $1,000,000. All TRU Shares issuable under the Purchase Agreement will be subject to a hold period expiring four months and one day from the date on which such TRU Shares are issued.
The acquisition of the Purchased Assets remains subject to customary conditions. The transaction is expected to be completed as soon as is practicable based on governmental claims transfer processing times and remains subject to regulatory approval by the TSX Venture Exchange. The transaction is an “arm’s length transaction” as defined in the policies of the TSX Venture Exchange and no finder fees are being paid in connection therewith.
The Company also announces that, separately, it has staked two additional mineral licenses covering 1875 hectares contiguous with Golden Rose.
Map 1
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Joel Freudman, Co-Founder and CEO of TRU, commented: “With soil sampling and geophysical surveying continuing to yield encouraging results, and drilling ongoing as we await initial assays, these tuck-in acquisitions of prospective ground round out TRU’s existing district-scale land package at Golden Rose. As we learn more about the geology of the area as our drilling program unfolds we are commensurately becoming more enthusiastic. The Company continues to execute on its TRU Vision 2021 strategy first announced on June 15, 2021.”
Barry Greene, P.Geo. 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 Corporation to purchase 100% of the Golden Rose Project, located along the deposit-bearing Cape Ray – Valentine Lake Shear Zone. TRU also owns 100% 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. (“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/.
For further information about TRU, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
Website: www.trupreciousmetals.com
- Published in Mining, News Home, Tru Precious Metals
TRU Precious Metals Drills Visible Gold 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 encountered visible gold early in its 5,000 metre diamond drill program currently underway at its flagship Golden Rose Project (“Golden Rose”), in the Central Newfoundland Gold Belt.
TRU Co-Founder and CEO, 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 (figure 1) is situated on a 2.5 km long by 0.5 km 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 52.79m and 55.04m down hole (figures 2 and 3). 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 meters from historic hole ST05-004 where visible gold was observed and which ultimately assayed 19.4 g/t Au over 1.5m.
Figure 1 – Woods Lake Drilling Map
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Golden Rose is a regional-scale land package covering 215.25 square kilometres (km2), including approximately 45 km of strike length along the deposit-bearing Cape Ray -Valentine Lake structural corridor between Marathon Gold Corp.’s (“Marathon”) Valentine Gold Project to the northeast and Matador Mining Ltd.’s (“Matador”) Cape Ray Gold Project to the southwest.
Barry Greene, VP 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.”
Figure 2 – Visible Gold in Drill Hole WL-21-05 at 52.79m down hole
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Figure 3- Visible Gold in Drill Hole WL-21-05 at 55.04m down hole
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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
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 Belt and has an option with a subsidiary of TSX-listed, Altius Minerals Corporation to purchase 100% of the Golden Rose Project, located along the deposit-bearing Cape Ray – Valentine Lake Shear Zone. TRU also owns 100% 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. (“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/.
For further information about TRU, please contact:
Joel Freudman
Co-Founder, President & 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
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 Reports Additional Drill Results at Twilite Gold Project and Prepares for Drilling at Golden Rose Project
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce additional assays from its 12-hole, Phase 1 diamond drilling program at its 100%-owned Twilite Gold Project in the Central Newfoundland Gold Belt (“Twilite Gold”). The Company is also providing an update on drilling preparations at its flagship Golden Rose Project (“Golden Rose”), also in the Central Newfoundland Gold Belt located along the deposit-bearing Cape Ray – Valentine Lake Shear Zone.
Highlights from the latest batch of Twilite Gold drill results (Tables 1 and 2) include:
- 6.00 metres (m) grading 1.06 grams per ton (g/t) gold (Au) in drill hole TL-21-18.
- 3.00m grading 0.85 g/t Au in drill hole TL-21-20.
- Robust shear zone hosted quartz breccia system remains open along strike in all directions.
Barry Greene, VP of Property Development and Director of TRU, commented: “The strength of the alteration, brecciation and mineralization remains intact as the gold system is continuing to the southeast. As is common, structural complexities play a part in the distribution of gold as the gold zone is deeper than expected. We are working to determine if this is an offset or part of a separate zone.”
Table 1. Uncut Assay Highlights
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Zone |
TL21-18* | 191.00 | 197.00 | 6.00 | 1.06 | Fort Knox |
TL21-20 | 97.32 | 98.00 | 0.68 | 0.33 | |
And | 225.00 | 228.00 | 3.00 | 0.85 | |
And | 299.00 | 301.00 | 2.00 | 0.53 |
* Results based on partial recovery from a fault zone.
Figure 1. Plan Map of Twilite Gold Drilling
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Figure 2. Cross Section of Twilite Gold Drilling
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Table 2. Collar Details for TL-21-18 to TL-21-21
Hole No. | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N |
TL21-18 | 239.9 | -65.9 | 224 | 589850 | 5408773 |
TL21-19* | 241.0 | -46.8 | 47 | 589914 | 5408700 |
TL21-20 | 238.4 | -66.0 | 362 | 589936 | 5408680 |
TL21-21* | 237.6 | -46.4 | 122 | 589936 | 5408680 |
* Abandoned prematurely due to bad ground conditions.
TRU Co-Founder and CEO Joel Freudman added: “We are pleased that we continue to encounter gold mineralization in the results from our recently-completed inaugural drill program, and we look forward to the remaining results, which will guide future drilling at Twilite Gold. I am even more excited about our imminent 5,000-metre diamond drill program at our flagship Golden Rose Project – with permitting now in hand, drilling will soon be a reality. Over the past 4 months, our team has worked ardently in preparation. Golden Rose represents a unique opportunity for TRU for numerous reasons, with the key drivers being that it is well-situated both geologically and geographically, sandwiched between two neighbours with significant known gold deposits.”
Golden Rose Drilling Preparations
At Golden Rose, drill permitting is now in place and a drill contract has been awarded to Logan Drilling Limited for a planned 5,000m diamond drilling campaign, scheduled to begin in early to mid-October. The Company is working closely with GoldSpot Discoveries Corp. in laying out and targeting its drill program.
TRU’s main objectives for this drill program are (1) infill drilling at the South Woods Lake Gold Zone, to better delineate the known mineralization there, and (2) exploratory drilling at the recently-optioned King George IV claims in hopes of making a new discovery there, following the Company’s discovery of visible gold grains on such claims this summer, as previously announced on July 14, 2021.
As additional preparatory steps, the Company recently completed a 1,568 line-kilometer airborne magnetic gradiometer survey over select portions of Golden Rose, including the King George IV claims. The Company is also preparing for an IP/Resistivity survey at the King George IV claims.
Drilling Quality Assurance/Quality Control (“QA/QC”)
All NQ core is sampled, cut by core saw, and split by Company personnel, and put into bags with unique sample tags for identification. 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 1000 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 has assembled a portfolio of gold exploration properties in the highly prospective Central Newfoundland Gold Belt. The Company has an option with a subsidiary of TSX-listed Altius Minerals Corporation to purchase 100% of the Golden Rose Project, located along the deposit-bearing Cape Ray – Valentine Lake Shear Zone. TRU also owns 100% of the Twilite Gold Project, located along the same Shear Zone, and 3 early-stage properties including 2 near New Found Gold Corp.’s high-grade Queensway Project. 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. (“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/
For further information about TRU, please contact:
Joel Freudman
Co-Founder, President & 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 Mining, News Home, Tru Precious Metals
TRU Precious Metals Appoints Experienced Mining CFO
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE:706) (“TRU” or the “Company”) is pleased to announce the appointment of Ms. Olga Nikitovic, CPA, CA, as its new Chief Financial Officer, effective September 3, 2021. The appointment remains subject to regulatory approval by the TSX Venture Exchange.
Ms. Nikitovic is a Chartered Accountant and management consultant with over 28 years of work experience. She started her career at PricewaterhouseCoopers and worked there for 9 years in both the audit and management consulting departments. While consulting, Ms. Nikitovic specialized in re-engineering and cost management. After leaving PricewaterhouseCoopers, Ms. Nikitovic held senior management positions with two of Canada’s largest retailers. Since then, she has held management positions in a number of private and publicly traded mining companies.
TRU Co-Founder and CEO Joel Freudman commented: “I am pleased to announce another great addition to the TRU leadership team with the appointment of Olga Nikitovic. Olga’s financial and strategic expertise, and diverse industry experience, will be an enormous asset to TRU. She brings a wealth of mining industry and capital markets experience to her new role, which will support the Company as we advance our projects in the Central Newfoundland Gold Belt, and, in particular, as we prepare to drill our flagship Golden Rose Project this fall.”
Ms. Nikitovic replaces Robert Harrison, who is retiring after serving TRU as its Chief Financial Officer since the Company’s inception. The Company extends its gratitude and appreciation to Mr. Harrison for his dedication and contribution, which has been instrumental as the Company developed into a mining issuer.
Mr. Freudman added: “We will all miss Robert’s commitment and collegiality, having helped the Company through every stage of its lifecycle to date, and I sincerely wish him all the best in his well-deserved retirement.”
The Company also announces that, subject to regulatory approval, on September 3, 2021, it granted an aggregate of 1,475,000 incentive stock options (“Options”) to its directors and officers in accordance with the Company’s stock option plan. All such Options have an exercise price of $0.28 per share and a 5-year term. Of these Options, an aggregate of 575,000 vested immediately, while the remaining 900,000 granted to an officer vest as follows: (i) 400,000 upon the earlier to occur of (a) 6 months from grant date or (b) completion of a specified corporate milestone (a “Vesting Event”); (ii) 250,000 upon the earlier to occur of (a) 12 months from grant date or (b) a Vesting Event; and (iii) 250,000 upon the earlier to occur of (a) 24 months from grant date or (b) a Vesting Event.
About TRU Precious Metals Corp.
TRU has assembled a portfolio of gold exploration properties in the highly prospective Central Newfoundland Gold Belt. The Company has an option with a subsidiary of TSX-listed Altius Minerals Corporation to purchase 100% of the Golden Rose Project, located along the deposit-bearing Cape Ray – Valentine Lake Shear Zone. TRU also owns 100% of the Twilite Gold Project, located along the same Shear Zone, and 3 early-stage properties including 2 near New Found Gold Corp.’s high-grade Queensway Project. 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. (“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 LinkedIn profile at https://www.resurgentcapital.ca/.
For further information about TRU, please contact:
Joel Freudman
Co-Founder, President & 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 Mining, News Home, Tru Precious Metals
TRU Precious Metals Encounters Gold in First Two Drillholes at its 100%-Owned Twilite Gold Project
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce, further to its press release on July 7, 2021, initial assays from the first two holes of the 12 hole, Phase 1 diamond drilling program at its 100%-owned Twilite Gold Project in Central Newfoundland (“Twilite Gold”). Drilling focused on a previously identified target that the Company has now dubbed the “Fort Knox Gold Zone”.
Highlights from drill holes TL-21-16 and TL-21-17 include:
- Drilling confirms continuity of the gold zone 30 metres (m) down-dip from historic drill hole TL-99-14 and 70m down dip from historic hole TL-99-15, with similar grades and thickness. Some of the best intercepts include 11.5m with 1.03 grams per tonne (g/t) of gold (Au) in hole TL-21-17, and 10.5m with 1.07 g/t Au in hole TL-21-16.
- The gold zone is open downdip on these sections and along strike to the northwest, where no previous drilling has been done.
- Two gold zones have been encountered in hole TL-21-17, enveloping a black quartz breccia and at the sheared contact between the breccias and underlying graphitic sediments.
The drill program also confirmed the northwest trend of the mineralization, directly associated with a shear zone outlined by geophysics as a prominent detailed magnetic low that is continuous for at least 600m. The 600m detailed magnetic low is part of a regional structural break that has been outlined for approximately 7 kilometres by airborne magnetics on Twilite Gold. Regional till geochemistry has previously indicated a gold plus multi-element NNW anomalous trend coincident with the structural break. Only 200m of the shear zone at Twilite Gold has been tested by drilling to date, with results pending for 10 additional diamond drill holes.
Barry Greene, VP of Property Development and Director of TRU, commented: “We are delighted to see the continuity and expansion of the northwest trending Fort Knox Gold Zone successfully intersected in drill holes TL-21-16 and TL-21-17, and that the zone is wide open for potential further expansion. Since there has never been any drilling completed to the northwest beyond these holes, it becomes an obvious target area for a next phase of drilling. With thick sections of altered quartz breccia encountered in other nearby holes, for which assays are pending, we are hopeful for expansion of the gold zone to the southeast as well.”
Table 1. Uncut Assay Highlights
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Zone |
TL21-16 | 107.00 | 117.50 | 10.50 | 1.07 | Fort Knox |
Including | 111.00 | 117.00 | 6.00 | 1.48 | |
And | 113.50 | 115.60 | 2.10 | 2.55 | |
TL21-17 | 81.13 | 95.00 | 13.87 | 0.40 | |
Including | 81.13 | 84.00 | 2.87 | 0.93 | |
TL21-17 | 129.50 | 141.00 | 11.50 | 1.03 | |
Including | 135.00 | 139.50 | 4.50 | 1.66 | |
And | 136.5 | 138.5 | 2.00 | 2.44 |
Figure 1 – Plan Map of Twilite Gold Drilling
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5993/93477_623a708e4417e952_001full.jpg
In hole TL-21-16, the uppermost gold mineralized zone is hosted by strongly bleached and iron carbonate altered mafic volcanics containing pyrite and arsenopyrite. The main gold zone is hosted by dark grey to black silicified breccia and continues across a sheared contact with graphitic sediments.
In hole TL-21-17, the uppermost gold mineralized zone is at the upper contact with a grey to black silicified breccia, and the main gold zone, which correlates with the main zone in hole TL-21-16, is situated at the lower contact of the grey to black breccia and continues across the sheared contact with graphitic sediments.
Figure 2 – Cross Section of Twilite Gold Drilling
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5993/93477_623a708e4417e952_002full.jpg
TRU Co-Founder and CEO Joel Freudman added: “We are pleased to share the initial results from our first drill program at Twilite Gold, which is also our first as a company. We are encouraged by the results from these first two holes. Our work at Twilite Gold will help us solidify the known mineralization areas and identify the project’s expansion potential. With the drill program completed, our focus for Twilite Gold will be on analyzing the data we have accumulated as we receive the remaining assays from the other ten holes.”
Table 2. Collar Details for TL-21-16 and TL-21-17
Hole No. | Azimuth (°) | Inclination (°) | Length (m) | UTM E | UTM N |
TL-21-16 | 235.9 | -61.1 | 176 | 589875 | 5408714 |
TL-21-17 | 237.1 | -66.9 | 170 | 589850 | 5408773 |
Other Exploration Updates
Separately, further to its July 30, 2021 press release, the Company is also providing an update on the final exploration results from its Gander West Property (“Gander West”), located approximately 16 kilometres from New Found Gold Corp.’s Queensway Project. As previously announced, all rock sample and soil geochemical results were already received, but TRU has now received the results of the nine outstanding Gander West till samples submitted to Overburden Drilling Management Limited (“ODM”).
TRU is pleased to report that ODM’s gold grain analysis indicates visible gold grains in all nine of these samples. Pristine gold grains were recovered in seven samples, including 17, 12 and 11 pristine grains, respectively, in three of the samples. ODM has confirmed to the Company that this could be indicative of Gander West being fertile for gold exploration. The till samples had been collected around a large northeast elongated pond that was the site of a topographic lineament also indicated in the regional magnetic data as a potential fault structure. A more systematic program of till sampling is warranted to further delineate the potential head of the gold dispersal train, towards identifying a bedrock source.
Drilling Quality Assurance/Quality Control (“QA/QC”)
All NQ core is sampled, cut by core saw, and split by Company personnel, and put into bags with unique sample tags for identification. 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 1000 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 has assembled a portfolio of gold exploration properties in the highly prospective Central Newfoundland Gold Belt. The Company has an option with a subsidiary of TSX-listed Altius Minerals Corporation to purchase 100% of the Golden Rose Project, located along the deposit-bearing Cape Ray – Valentine Lake Shear Zone. TRU also owns 100% of the Twilite Gold Project, located along the same Shear Zone, and 3 early-stage properties including 2 near New Found Gold Corp.’s high-grade Queensway Project. 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. (“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 LinkedIn profile at https://ca.linkedin.com/company/resurgent-capital-corp
For further information about TRU, please contact:
Joel Freudman
Co-Founder, President & 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 Mining, News Home, Tru Precious Metals