TRU
Precious Metals Commences 5,000 Metre Drill Program at Golden Rose
Project
Fredericton, New
Brunswick - October 19, 2021 -- InvestorsHub NewsWire
-- TRU
Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) ("TRU" or the
"Company") is
pleased to announce that an approximately 5,000 metre
(m) diamond drill program is underway at its flagship Golden Rose
Project ("Golden Rose"), in the Central Newfoundland Gold
Belt.
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.
TRU Co-Founder and CEO
Joel Freudman commented: "We are excited to finally start our drill
program at Golden Rose. Its geologically strategic location,
sandwiched between two neighbours with significant known gold
deposits, provides an undeniable advantage. Since announcing our
deal to acquire Golden Rose in January of this year, we have been
busy preparing for this moment, and now a mere nine months later,
we are breaking ground. This drill program marks a seminal event
for TRU that will significantly impact TRU's future as an
exploration company of merit."
Key
Points
-
5,000m diamond drilling
planned.
-
Drilling
will primarily target delineation and expansion of known gold
mineralization at the Woods Lake Gold Zone ("Woods
Lake") and will include a mix of confirmatory/twin holes,
infill/delineation holes, and scout holes.
-
Drilling
will also be carried out at the King George IV claims ("KG4"), on
which the Company has panned visible gold at surface, and which has
never been previously drilled.
Mr. Freudman added: "In
addition to our wide-ranging surface-level exploration efforts over
the past several months, we have worked closely with our technical
consultants at Goldspot Discoveries Corp. and have drawn on their
expertise to further shore up all facets of our drill program. We
have two key targets to drill in the coming months, and we look
forward to a strong, focused drilling campaign that merits
follow-on exploration at such targets and elsewhere across the
property.
Historical
Drilling Highlights
Highlights of
historical drilling at Woods Lake within Golden Rose
include:
-
2.15 grams per ton
(g/t) gold (Au) over 12.6m, including 3.65 g/t Au over 6.0m, in
hole ST09-009
-
1.37 g/t Au over
26.31m, including 6.18 g/t Au over 5.11m, in hole
ST09-002
-
1.76 g/t Au over 7.34m,
including 2.8 g/t Au over 4.34m, in hole ST09-012
-
19.8 g/t Au over 1.5m,
with visible gold observed, in hole ST05-004
-
1.2 g/t Au over 28.5m,
including 11.25 g/t Au over 1.5m, in hole ST05-007
Figure 1 - Historical Drilling at Woods Lake
Note that
historical drill hole results are select samples and are not
necessarily representative of mineralization on 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.
Figure
2
- TRU
Drill Program Overview
The Company's
collaboration with Goldspot Discoveries Corp. has formulated a
drill program designed to provide confirmation, delineation/infill
and scout drilling at Woods Lake. The Company anticipates drilling
approximately 3,500m at Woods Lake this fall. The objective is to
begin the process to advance Woods Lake towards the resource
definition stage by working from a newly created 3D geological
model, and a grade contour of Woods Lake, which has historically
been partially outlined by 40 diamond drill holes (totalling
6,301m) over a 550m strike length. The zone lies on the
southwestern shore of Woods Lake and was discovered in 2002 during
follow-up trenching of gold in panned concentrate samples. The
altered and quartz veined monzogranite has been traced for
approximately 1,500m along strike. The zone appears to be open both
along strike and to depth.
A second objective of
the drill program will be to make a discovery on the newly
identified KG4 gold target through an estimated 1,500m of drilling.
The Company optioned this property after recovering many pristine
gold grains from its shoreline gravels and sands and observing an
iron oxidized hardpan gossan nearby (see TRU Press Release dated
July 8, 2021). Additional prospecting and mapping within 1 km along
the shoreline revealed dozens of mineralized angular blocks, from
10cm to as large as 2m. The mineralization is described as
containing abundant pyrite and chalcopyrite in a quartz stockwork
and hosted by a mafic rock.
In final preparation
for the eventual drilling at KG4, an IP/Resistivity survey remains
underway there. The survey will cover several crosscutting linear
magnetic low features identified in the Company's recently
completed airborne geophysical survey over the area.
Geological
Prospectivity
The Cape Ray-Valentine
Lake fault system, on which Golden Rose is located, bisects central
Newfoundland from southwest to northeast. It is a crustal scale
feature, the trace of which is marked in the southwest by the
Windsor Point Group and in the central and northeastern areas by
the Rogerson Lake Conglomerate. These units are syn-orogenic upper
crustal clastic sequences, which elsewhere are commonly associated
with orogenic gold vein systems (e.g., the Abitibi Greenstone
Belt). Exploration along this regional structure along trend of
Golden Rose has revealed the presence of significant gold
mineralization, namely Matador's Cape Ray gold deposits and
Marathon's Valentine Lake gold deposits.
KG4 is geologically
located along the structural contact between the younger Windsor
Point Group and the older King George IV ophiolite. Notably, the
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's Cape Ray project, gold
deposits are associated with a similar structural
contact.
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.
Cautionary
Statements Regarding Forward-Looking Information
Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
This press release
contains certain forward-looking statements relating to the drill
program and other exploration activities at Golden Rose. These
statements are based on numerous assumptions regarding Golden Rose,
and the Company's exploration and drilling plans, that are believed
by management to be reasonable in the circumstances, and are
subject to a number of risks and uncertainties, including without
limitation: mineralization hosted on adjacent and/or nearby
properties is not necessarily indicative of mineralization hosted
on Golden Rose; the exploration potential of Golden Rose and the
nature and style of mineralization; risks inherent in mineral
exploration activities, and operational problems relating to
drilling; volatility in precious metals prices; and those other
risks described in the Company's continuous disclosure documents.
Actual results may differ materially from results contemplated by
the forward-looking statements herein. Investors and others should
carefully consider the foregoing factors and should not place undue
reliance on such forward-looking statements. The Company does not
undertake to update any forward-looking statements herein except as
required by applicable securities laws.
