Trueclaim Intersects 1.5 Metres of 94.5g/t Au at the Scadding Gold Project
03 Maio 2011 - 2:27PM
Marketwired
Trueclaim Exploration Inc. ("Trueclaim") (TSX VENTURE: TRM)(OTCQX:
TRMNF) has completed approximately 700 metres of diamond drilling
in the New Zone on the Scadding Gold Property (the "Property").
The New Zone was initially discovered through diamond drilling
in 1997 by Currie Rose Resources Inc. In the summer of 2010,
excavation work was done in the area exposing a trench containing
auriferous chlorite breccia. In our current Phase II drilling
program, seven drillholes were planned in the New Zone to evaluate
the mineralization and determine the extent of the zone.
Significant intercepts from the New Zone are as follows:
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Hole Interval Grade
Length Au
Hole ID From (m (ft)) To (m(ft)) (m(ft)) (g/t)
--------------------------------------------------------------------------
TRM-11-18 52.00 (170.56) 55.70 (182.70) 3.70 (12.14) 12.30
Containing 52.83 (173.18) 53.50 (175.48) 0.67 (2.30) 24.01
55.00 (180.40) 55.70 (182.70) 0.70 (2.30) 25.89
TRM-11-20 63.00 (206.64) 64.00 (209.92) 1.00 (3.28) 21.47
TRM-11-22 31.50 (103.32) 33.00 (108.24) 1.50 (4.92) 94.50
Containing 32.50 (106.60) 33.00 (108.24) 0.50 (1.64) 177.04
TRM-11-23 53.25 (174.66) 57.46 (188.47) 3.48 (13.81) 1.47
--------------------------------------------------------------------------
Mineralization in the New Zone is mineralogically similar to the
gold bearing zones found in the North Zone and the South Zone.
Assay values from this zone were significantly better than
expected. The next step for the New Zone is to drill several
oriented drillholes to determine the orientation of the
mineralization.
Currently, the drill is in the North Zone completing the
delineation program recommended by SRK Consulting, where 3,000
meters of drilling are planned for this portion of the Phase II
program.
The Company holds the Property under option from Currie Rose
Resources Inc. and has the right to earn a 100% working interest in
the property.
We seek safe harbour.
TRUECLAIM EXPLORATION INC.
John Carter, President
Technical information in this news release has been reviewed by
Mr. Bob Komarechka, P. Geo., acting as a consulting Project
Geologist for the Company and prepared in accordance with Canadian
regulatory requirements as set out in National Instrument 43-101.
Trueclaim's quality control and assurance program includes the
insertion of standards and blanks, the retention of 1/2 of the cut
core that has been sampled, pulps and rejects, and uses a
independent certified lab, Accurassay Laboratories of Thunder Bay,
ON. Samples are sent for fire assay and if warranted for ICP.
Assays of significance are reassayed using screen metallics to
ensure accurate values. Company Management, which takes full
responsibility for content, prepared this news release.
This news release contains "forward-looking information" (within
the meaning of applicable Canadian securities laws) and
"forward-looking statements" (within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995). Such statements
or information are identified with words such as "anticipate",
"believe", "expect", "plan", "intend", "potential", "estimate",
"propose", "project", "outlook", "foresee" or similar words
suggesting future outcomes or statements regarding an outlook. Such
statements include, among others, those concerning the proposed
diamond drilling program. All statements in this news release,
other than statements of historical facts, which address future
production, reserve potential, exploration activities, financing
plans, objectives or goals, and events or developments that the
Company expects, are forward-looking statements. Since
forward-looking statements address future events and conditions, by
their very nature, they involve inherent risks and uncertainties.
Such forward-looking information or statements are based on a
number of risks, uncertainties and assumptions which may cause
actual results or other expectations to differ materially from
those anticipated and which may prove to be incorrect. Assumptions
have been made regarding, among other things, management's
expectations regarding its ability to complete its exploration and
development work as expected. Actual results could differ
materially due to a number of factors, including, without
limitation, operational risks in the completion of the Company's
continued development work, technical, safety or regulatory issues,
market prices, exploitation and exploration successes, continued
availability of capital and financing, and general economic, market
or business conditions. Although the Company believes that the
expectations reflected in the forward-looking information or
statements are reasonable, prospective investors in the Company's
securities should not place undue reliance on forward-looking
statements because the Company can provide no assurance that such
expectations will prove to be correct. Actual results or
developments may differ materially from those projected in the
forward-looking statements, as assay intervals might not
necessarily represent true width. Such risks include expectations
that may be raised by discussing potential mine types and by
comparing the Company's projects to other projects. Also, in order
to proceed with the Company's exploration and acquisition plans,
additional funding is necessary and, depending on market
conditions, this funding may not be forthcoming on a schedule or on
terms that facilitate the Company's plans. Forward-looking
information and statements contained in this news release are as of
the date of this news release and the Company assumes no obligation
to update or revise this forward-looking information and statements
except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) has reviewed or accepts responsibility for the
adequacy or accuracy of this release.
Contacts: Trueclaim Exploration Inc. John Carter President
519-913-8008 1-888-686-1405 (FAX) www.trueclaimexploration.com
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