TRU Precious Metals Provides Update on Summer 2021 Exploration Program
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to provide a comprehensive update on its exploration program across its properties in the Central Newfoundland Gold Belt. The Company also announces the results of its annual and special shareholder meeting held on July 29, 2021 (the “Meeting”).
Golden Rose Project
The Company is continuing its systematic program of soil sampling, till sampling, geological mapping and prospecting as the Golden Rose Project becomes its exploration focus for the remainder of the summer field season. Almost 2,000 field samples have been submitted for geochemical analysis, with results pending over the next 6-8 weeks. Meanwhile, the Company is also preparing to carry out an airborne geophysical survey over recently-acquired portions of the Golden Rose Project, with such survey expected to begin in early August.
GoldSpot Discoveries Corp., a technical services provider to the Company, has made its preliminary target presentation to the Company, and is also completing geological modeling of the South Woods Lake Gold Zone (“SWL Gold Zone”), where historical drilling over a 550 metre (m) long section of a felsic intrusive previously confirmed the presence of significant gold mineralization. This geological modeling will aid the Company in selecting drill targets at the SWL Gold Zone. The Company is also applying for permitting and securing a drilling contractor with a view to carrying out its previously-disclosed 5,000 m drill program at the Golden Rose Project, expected to commence in October 2021. The drill program will focus on infilling and expanding the gold mineralized felsic intrusive at the SWL Gold Zone, and will also target the claims optioned by TRU on July 13, 2021, on which the Company found visible gold grains and a nearby gossan.
Twilite Gold Project
On July 7, 2021, the Company announced the completion of its phase 1, 2,577 m drilling program at its Twilite Gold Project, focusing on a previously-identified target now called the Fort Knox Gold Zone. Core cutting and sample submission, which were being carried out on an ongoing basis, have been completed this week. Results are expected on a rolling basis over the next approximately 6 weeks and will be publicly disclosed in batches as previously reported.
Early-Stage Properties
On May 25, 2021, the Company announced a phase 1 exploration program at its Gander West property, located approximately 16 kilometres from New Found Gold Corp.’s Queensway Project. All rock and soil geochemical results from the limited-scale, orientation-level field program have now been received, with results still outstanding from nine till samples submitted for gold grain analysis. The best result from rock sampling was 395 parts per billion (ppb) gold (Au) from a grab sample. The best results from 118 soil samples were 52 ppb and 31 ppb Au. Results are being plotted for interpretation and to determine where additional infill sampling or other field follow-up may be warranted.
On June 17, 2021, the Company announced that it had completed a property-wide targeted soil survey at its Rolling Pond property bordering the Queensway Project, which was designed to provide the Company with another layer of geochemical data in prospective areas after compilation of historic geophysics, diamond drilling and prospecting. To date, the Company has received results for approximately one-quarter of its soil samples, with the best results being 61 and 34 ppb Au, and has also received all rock grab sample results with none being significant. Once all outstanding results have been received over the next several weeks, the Company will determine whether and where ground follow-up may be warranted.
In early July 2021, the Company completed an orientation-level soil sampling and prospecting program at its Stony Lake property, located 5 to 10 kilometres south of the Twilite Gold Project. In total, 171 soil samples and 39 rock grab samples were collected, with results expected over the next approximately 6 weeks.
Meeting Results
The Company is also reporting voting results from the Meeting. Shareholders approved all routine items of business, including electing each of the directors nominated by management, namely Joel Freudman, Damian Lopez, Barry Greene, David Hladky and Colin Sutherland. In terms of special items of business, shareholders approved the Company’s stock option plan and the continuance of the Company from Alberta into Ontario, but not the proposed restricted share unit plan.
National Instrument 43-101 Disclaimers
The rock grab, soil, and float samples presented are selective by nature, and values reported may not represent the true grade or style of mineralization across the mineral properties in question. These potential grades are conceptual in nature; there has been insufficient exploration by the Company at any TRU property to define a mineral resource; and it is uncertain whether further exploration will result in these targets being delineated as a mineral resource.
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 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
TRU Precious Metals Completes Purchase of South Woods Lake Claims at 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 July 8, 2021, it has completed the purchase of a claims package (the “Purchased Assets”) contiguous with the Company’s flagship Golden Rose Project.
As previously disclosed, the vendors of the Purchased Assets received an aggregate of 80,000 common shares in the capital of TRU at a deemed price of $0.25 per share as consideration for the Purchased Assets. All common shares of TRU issued as consideration for the Purchased Assets are subject to a hold period expiring four months and one day from July 21, 2021. TRU has also reimbursed the vendors’ non-material staking costs.
About TRU Precious Metals Corp.
TRU has assembled a portfolio of 5 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 under-explored properties including its Rolling Pond Property (under option) bordering 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
TRU Precious Metals Continues Consolidation at its Flagship Golden Rose Project in Central Newfoundland
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 a claims package (the “Purchased Assets”), along with related permits and technical data, contiguous with the Company’s flagship Golden Rose Project in Central Newfoundland’s Gold Belt. The Purchased Assets are comprised of five licences (45 claims) covering 1,125 hectares. Portions of the Purchased Assets are located along trend from the 550m long South Wood Lake Gold Zone and provides additional coverage should the gold zone extend onto the land comprising the Purchased Assets. Additionally, certain historic drill holes have been collared on the Purchased Assets targeting the Sure Shot and Hill Top gold occurrences found at the Company’s Golden Rose Project, which are located within a few hundred meters of the Purchased Assets.
Joel Freudman, Co-Founder and CEO of TRU, commented: “Consistent with TRU’s stated strategic objective of continuing the expansion and addition of properties of merit along the Shear Zone, this acquisition is further cementing our rapid growth at our flagship Golden Rose Project. Golden Rose is prime real estate for TRU and adding to our land position is key to TRU’s strategic objectives.”
Figure 1: Location of licences comprising the Purchased Assets
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5993/89778_2ea45cb0a48fba09_001full.jpg
Terms of the Purchase Agreement
Pursuant to the Purchase Agreement, the vendors will receive an aggregate of 80,000 common shares in the capital of TRU at a deemed price of $0.25 per share as consideration for the Purchased Assets. 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 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.
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 has assembled a portfolio of 5 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 under-explored properties including its Rolling Pond Property (under option) bordering 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 Canadian companies. 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:
Facebook
https://www.facebook.com/TRU-Precious-Metals-Corp-100919195193616
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 Precious Metals Completes Phase 1 Drill Program at 100%-Owned Twilite Gold Project in Central Newfoundland
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce that, further to its press releases on June 1 and June 8, 2021, the Phase 1 diamond drilling program has been completed 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
- Phase 1 drilling has been successfully completed on time at the Fort Knox Gold Zone for a total of 2,577 meters in 12 drill holes.
- Drilling has successfully intersected the widest sections of the mineralized shear zone to date.
- Extensive mineralized quartz breccia encountered in multiple drill holes.
- Regionally significant mineralized conglomerate, akin to the Rogerson Lake Conglomerate, has been intersected in multiple holes.
- Core logging and sampling are underway with two core saws. Excellent core recoveries were achieved through mineralized zones, unlike historic drilling by former property owner Fort Knox Gold Resources.
- Receipt and evaluation of complete Phase 1 assay results are expected over approximately the next 6 to 8 weeks, with results to be publicly disclosed in batches on a rolling basis once sufficient volumes of data are available.
Drill Program Preliminary Results
Barry Greene, VP of Property Development and Director of TRU, commented: “The first phase of drilling in 2021 at Twilite Gold has gone exceptionally well. We drilled 2,577 metres of NQ core, more than initially forecast, testing several additional high-potential gold targets. We anticipate a steady flow of drill results from Twilite Gold over the coming weeks and months, with results from these holes pending.”
The drill program consisted of 12 NQ boreholes situated along a deep-seated, multi-kilometer, west-northwest trending structure (see Figure 1). The drilling focused within the Fort Knox Gold Zone, and specifically an approximately 200m strike length section of this structure near the intersection with a northeast trending mineralized structure that is also auriferous in historic drilling. Improving on historic drilling, TRU’s Phase 1 drilling has intersected an extensive shear zone containing areas of moderate to intense sericite and silica alteration and including wide areas of polyphase quartz veining and quartz breccias containing sulphide mineralization including pyrite, arsenopyrite and stibnite. The alteration and mineralization is coincident with a broad portion of the 600m long mineralized structure identified in the detailed magnetic survey completed by TRU and announced on December 8, 2020.
Figure 1: Twilite Gold Phase 1 Drill Program – Drillhole Location Map (on detailed ground magnetics)
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5993/89565_c68cb5ae3470e8de_001full.jpg
TRU has not verified the historical grab sample assay results contained in this press release and is not relying on them as current mineral resources or mineral reserves. Note that grab sample results are select samples and are not necessarily representative of mineralization on Twilite Gold. Readers are cautioned that these potential grades are conceptual in nature; there has been insufficient exploration by the Company or its qualified person at Twilite Gold 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.
It is noteworthy that several holes intersected hematitic and silicified polylithic conglomerate, locally containing sulphide mineralization. Such polylithic conglomerate is texturally similar to, and may represent the strike extension of, the Rogerson Lake Conglomerate (“RLC”).
The RLC has already been mapped in proximity to Twilite Gold and is considered to be an important expression of the regionally extensive Cape Ray – Valentine Lake- Shear Zone. Regionally, the RLC (or its equivalent) is found directly associated with gold mineralization at Matador Mining’s Cape Ray deposit; Marathon Gold’s Valentine Gold deposit; and Canterra Minerals’ Wilding Lake project.
TRU Co-Founder and CEO Joel Freudman added: “We are excited to have completed TRU’s first-ever drill program, which we chose to carry out at Twilite Gold a mere seven months after acquiring the project. We are very encouraged that a promising variety of mineralization is evident in the cores, often with good continuity, which supports our belief that Twilite Gold is well-situated along the deposit-bearing Cape Ray – Valentine Lake Shear Zone. We believe that this targeted first round of drilling will indeed be the starting point to help the Company unearth the inherent value we believe exists at Twilite Gold.”
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 5 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 under-explored properties including its Rolling Pond Property (under option) bordering 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 Toronto-based 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 about Resurgent, 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:
Facebook
https://www.facebook.com/TRU-Precious-Metals-Corp-100919195193616
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 Precious Metals Appoints Veteran Mining Executive Colin Sutherland, CPA, CA to its Board of Directors
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce the appointment of Colin Sutherland, CPA, CA to its Board of Directors. TRU now has 5 directors, 3 of whom are independent.
Mr. Sutherland is a Chartered Professional Accountant with over 20 years of financial and operational experience in the mining industry with exploration and development-stage companies. He has held senior executive roles globally, currently with Magna Gold Corp. as its Chief Financial Officer and a director, and recently with Arizona Metals Corp., NQ Minerals Plc, Amarillo Gold Corporation, and McEwen Mining Inc. Over his career, Mr. Sutherland has led several M&A, equity and debt transactions, and has returned significant value to shareholders. Mr. Sutherland holds a Bachelor of Business Administration degree from Saint Francis Xavier University.
Along with his appointment as a director of the Company, Mr. Sutherland has also been appointed to the Company’s audit committee, which is now comprised entirely of independent directors. This is consistent with the Company’s broader commitment to strong corporate governance, to which end TRU has also previously adopted a Code of Business Conduct as well as a Corporate Disclosure Policy.
TRU Co-Founder and CEO Joel Freudman commented: “Colin is an excellent complement to our existing Board, bringing demonstrated and relevant mining experience, in-depth knowledge of the natural resource capital markets, and an accounting background. We believe Colin’s experience and connections will further support our strategy to deliver value to our shareholders through good governance, operational excellence, and enhanced market presence.”
The Company also announces that, subject to regulatory approval, it has granted an aggregate of 280,000 incentive stock options (“Options”) to a director, an officer, and an employee in accordance with the Company’s stock option plan. These Options have an exercise price of $0.34 each and a 3-year term, and vest immediately.
About TRU Precious Metals Corp.
TRU has assembled a portfolio of 5 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 under-explored properties including its Rolling Pond Property (under option) bordering 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 Canadian companies. For more information about Resurgent, 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:
Facebook
https://www.facebook.com/TRU-Precious-Metals-Corp-100919195193616
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 Precious Metals Increases Land Position at its Flagship Golden Rose Project in Central Newfoundland
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce the acquisition of a significant claims package (the “Claims”) contiguous with the Company’s flagship Golden Rose Project in Central Newfoundland’s Gold Belt.
TRU has acquired, via indirect staking, 62.25 square kilometres (km2) of mineral claims contiguous with the existing Golden Rose Project, increasing the property size by almost 60% from 105 km2 to 167.25 km2 (Figure 1) along and adjacent to the Cape Ray – Valentine Lake Shear Zone (the “Shear Zone”).
Joel Freudman, Co-Founder and CEO of TRU, commented: “Consistent with TRU’s stated strategic objective to add or expand properties of merit along the Shear Zone, this acquisition adding to our district-scale Golden Rose Project is very exciting for us, and comes at only minimal staking costs. This consolidation provides better coverage of a 23 km section of a possible splay structure, or offshoot, adjacent to the main Shear Zone. Importantly, this 23 km long splay structure is very underexplored and is known to host gold mineralization, which automatically makes the Claims an early focus of TRU’s field programs at Golden Rose.”
The Claims are located along a structural corridor (Figure 2) believed to be a splay of the Shear Zone containing anomalous gold and arsenic in lake sediments. Several recent gold occurrences on the Golden Rose Project are interpreted to be associated with this splay structure. These include the Jacobs Pond gold zone (hand trenching returned grab samples grading from 0.8 grams per tonne (g/t) gold (Au) to 2.2 g/t Au) and the Rose Gold showing (hand trenching returned grab samples grading from 3.3 g/t Au to 20.2 g/t Au)1. Additionally, visible gold grains have been panned along the trend of this structural corridor. The Claims also contain a historic grid hosting anomalous gold in soil values including 110ppb gold in soil2. Other historic gold showings that appear to be located along the structural corridor include the Sansu gold showing (3.5 g/t Au in grab samples3) and the Big Arm gold showing (16 g/t Au4).
Figure 1: Newly Acquired Claims – Golden Rose Project
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5993/88477_b23aef5d444f2aeb_001full.jpg
Figure 2: Gold Occurrences and Structural Corridor Along Newly Acquired Claims
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5993/88477_b23aef5d444f2aeb_002full.jpg
National Instrument 43-101 Disclosures
The technical information herein, including assay results, relating to the Golden Rose Project is historical in nature and has not been independently verified by TRU. Note that grab samples are selective by nature, and values reported may not represent the true grade or style of mineralization across the Golden Rose Project. The potential grades are conceptual in nature; there has been insufficient exploration to define a mineral resource; and it is uncertain whether further exploration will result in any targets being delineated as a mineral resource.
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 has assembled a portfolio of 5 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 under-explored properties including its Rolling Pond Property (under option) bordering 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 Canadian companies. 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:
Facebook
https://www.facebook.com/TRU-Precious-Metals-Corp-100919195193616
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 Precious Metals Closes $3.5 Million Flow-Through Financing; Eric Sprott Becomes Major Shareholder
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce it has completed its non-brokered private placement (the “Offering”) for gross proceeds of $3,499,250, as previously announced on May 20, 2021. Pursuant to the Offering, TRU issued 12,960,186 “flow-through” units of the Company (“FT Units”) at a price of $0.27 per FT Unit.
Each FT Unit is comprised of one common share of TRU that qualifies as a “flow-through share” for the purposes of the Income Tax Act (Canada) (a “FT Share”) and one “flow-through” common share purchase warrant (a “FT Warrant”). Each FT Warrant shall be exercisable into one common share of TRU (a “Share”) at a price of $0.35 per Share until June 17, 2024.
Joel Freudman, Co-Founder & CEO of TRU, commented: “I am very pleased to welcome Eric Sprott as a major shareholder of TRU. Mr. Sprott’s participation in this financing is a huge vote of confidence in the Company and the potential of our district-scale land package in the Central Newfoundland Gold Belt. We are also encouraged that the Offering was fully subscribed by institutional investors right from the start, including funds managed by Sprott Asset Management LP, which we consider a testament to our progress to date and our prospects going forward. This funding will allow TRU to proceed with an aggressive and comprehensive exploration program in summer 2021 and beyond, across our entire portfolio in the region, as announced on May 31st and June 15th.”
The gross proceeds from the Offering will be used by the Company to fund exploration programs on the Company’s mineral properties in the Central Newfoundland Gold Belt and other “Canadian exploration expenses” that qualify as “flow-through mining expenditures”, as those terms are defined in the Income Tax Act (Canada), including: (i) a comprehensive two-phase exploration program at the Company’s flagship Golden Rose Project; and (ii) a targeted and recently-expanded phase one drilling program at the Company’s Twilite Gold Project.
An eligible finder received, on account of gross proceeds raised from subscribers to the Offering who were introduced by such finder, an aggregate of 1,036,814 units of the Company, each of which consisted of one Share and one Share purchase warrant (a “Warrant”) exercisable into one Share at a price of $0.35 per Share until June 17, 2024.
The securities issued in the Offering are subject to a statutory hold period expiring October 18, 2021. The Offering is subject to final approval of the TSX Venture Exchange.
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 has assembled a portfolio of 5 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 other under-explored properties including its Rolling Pond Property (under option) bordering 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 Canadian companies. For more information on Resurgent and its portfolio companies, please visit Resurgent’s LinkedIn profile.
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:
Facebook
https://www.facebook.com/TRU-Precious-Metals-Corp-100919195193616
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 Precious Metals Completes Soil Sampling Program at Its Rolling Pond Property Bordering New Found Gold’s Queensway Project
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE:706) (“TRU” or the “Company”) is pleased to announce that it has completed a property-wide soil sampling program at its Rolling Pond Property in the Central Newfoundland Gold Belt. The Rolling Pond property is contiguous with the south end of New Found Gold’s Queensway project. New Found Gold reported drill intercepts on May 21, 2021 at the Queensway Project of 146.2 grams per tonne gold over 25.6 meters.[1]
The completed geochemical surveying program represents TRU’s first phase of field work at the Rolling Pond property and consisted of extensive and detailed sampling (684 samples were collected). The sampling covered the large hydrothermal and quartz breccia system, which has been identified over a 1.2 km strike length but has never been subjected to a systematic soil geochemical survey. The sampling was positioned to expand upon a known soil geochemical anomaly near the south-central area of the property where a coincident multi element soil anomaly has returned gold values from 5 parts per billion (ppb) to 142ppb, one of two gold anomalous areas spanning a 500m length. The samples are being submitted to Eastern Analytical of Springdale, NL for gold fire assay and 34 element ICP geochemical analysis. Eastern Analytical is an independent accredited assay lab that conforms to requirements of ISO/IEC (International Organization for Standardization/International Electrotechnical Commission) 17025.
Figure 1: TRU Rolling Pond Property Location
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5993/87859_0cd23d8114ff892e_001full.jpg
Figure 2: TRU Precious Metals Rolling Pond Soil Sample Location
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5993/87859_0cd23d8114ff892e_002full.jpg
TRU Co-Founder and CEO, Joel Freudman, commented, “We are excited to announce the completion of our first phase of work at Rolling Pond. Completing this detailed geochemical survey is a cost-effective way to provide the Company with greater technical data on this large target area and assists in facilitating guidance for our next phases of groundwork. Rolling Pond, being next door to New Found Gold’s Queensway Property, provides TRU with an advantageous access point to the prospective geology of that area. We remain encouraged by historical findings that the nature and style of mineralization at the Rolling Pond Property appears similar to that of New Found Gold’s and thus look forward to the results from this program.”
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 has assembled a portfolio of 5 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 under-explored properties including its Rolling Pond Property (under option) bordering 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 Canadian companies.
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:
Facebook
https://www.facebook.com/TRU-Precious-Metals-Corp-100919195193616
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 Precious Metals Announces Corporate Strategy Update
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) wishes to provide the following updates and details regarding its corporate strategy.
The Company is unveiling its corporate strategy for the 2021 calendar year, called “TRU Vision 2021”, which is to build shareholder value by exploring and developing and, when opportune, consolidating the Cape Ray – Valentine Lake Shear Zone (the “Shear Zone”) and the Appleton Fault.
TRU Co-Founder and CEO Joel Freudman explained: “As the field becomes increasingly crowded in the Central Newfoundland Gold Belt, both figuratively and literally, we need to continue distinguishing TRU to the market, and TRU Vision 2021 is our overarching path forward. We believe we will accomplish this through a concerted effort to identify discoveries at our properties, and at the corporate level through relentless execution and delivering on the guidance we provide to the market as best we can. In addition, over time we also believe it will prove to be a sustainable competitive advantage to cement a meaningful presence on the Shear Zone and/or the Appleton Fault.”
Figure 1: TRU Property Map
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5993/87560_f9bc947694b928b9_001full.jpg
The Shear Zone is a deposit-bearing geological corridor that runs diagonally, from southwest to northeast, through the Central Newfoundland Gold Belt. It hosts two sizable known gold deposits, namely the Matador Mining Cape Ray deposit and the Marathon Gold Valentine Gold deposit, between which is located the Company’s flagship property, the Golden Rose Project. Further up the Shear Zone the Company has its Twilite Gold Project, where drilling is currently underway (see press releases dated June 1 and June 8, 2021).
The Appleton Fault is a fault line that runs north to south through the Central Newfoundland Gold Belt, and along which is located the Keats Zone at New Found Gold’s Queensway Project, which has yielded extremely high-grade drilling results. The Company’s Gander West Property is only 16 kilometres northwest of the Keats Zone, and the Company’s Rolling Pond Property shares a border with the Queensway Project in the southwest.
TRU has assembled this prospective property portfolio and a high-performance team, with a collective drive to execute the TRU Vision 2021 strategy through two primary means: (1) systematic, targeted exploration of the Company’s existing property portfolio, which is already well underway; and (2) considering strategic follow-on property acquisitions.
Specifically, the Company intends to execute its TRU Vision 2021 strategy through accomplishment of the following objectives:
- Exploring TRU’s entire property portfolio, with a discovery-oriented team focusing on the flagship Golden Rose Project and the Twilite Gold Project, both located on the Shear Zone. Exploration efforts have been scoped out and budgeted for systematic advancement by deploying lower-cost methods first, and allocating more funds towards the most advanced properties and targets. Comprehensive details are available in the Company’s May 31, 2021 press release.
- Recruiting additional mining executives to the Company’s board of directors and/or management team.
- Evaluating property acquisition opportunities contiguous with or close to the Company’s existing properties, and/or properties along the Shear Zone and/or the Appleton Fault.
Mr. Freudman concluded, “TRU continues its evolution and development as a junior mineral explorer whose team is relentlessly working to unlock shareholder value. We believe we are well-positioned for exploration upside and discovery potential from our current property portfolio, let alone any other value-generating corporate initiatives. Our shareholders and other stakeholders should expect no less.”
About TRU Precious Metals Corp.
TRU has assembled a portfolio of 5 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 under-explored properties including its Rolling Pond Property (under option) bordering 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 Canadian companies. 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:
Facebook
https://www.facebook.com/TRU-Precious-Metals-Corp-100919195193616
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 Precious Metals Announces Resumption of Trading on the OTCQB Venture Market and DTC Eligibility
TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce that shares of its common stock have resumed trading on the OTCQB Venture Market (the “OTCQB Venture”) in the United States under the stock symbol “TRUIF”. This is following the filing and completion of a Change of Business regarding the Company with the TSX Venture Exchange (as announced on May 13, 2021). TRU is also pleased to announce that its common shares are now eligible for electronic clearing and settlement through The Depository Trust Company (“DTC“) in the United States.
TRU Co-Founder and CEO Joel Freudman, commented: “I am pleased that TRU has resumed trading on the OTCQB Venture following the pause we underwent as we completed our Change of Business to a mining issuer. The OTCQB Venture provides TRU with access to an efficient and transparent trading platform within the United States market. I am also equally pleased that our common shares are now DTC eligible, as it represents an important additional step forward in increasing liquidity, broadening our shareholder base, and building a strong presence for our company within the US capital markets sphere”.
DTC is a subsidiary of The Depository Trust & Clearing Corporation, based in the United States, that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered “DTC eligible”. This electronic method of clearing securities streamlines the process of trading, enhances liquidity, and provides direct access to investors and brokers throughout the OTC Capital Markets in the United States.
About TRU Precious Metals Corp.
TRU has assembled a portfolio of 5 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 under-explored properties including its Rolling Pond Property (under option) bordering 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 Canadian companies. 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
- Published in Mining, News Home, Tru Precious Metals