TRU
Precious Metals Moves Drilling to King George IV Area of Golden
Rose Project After Discovering More Visible Gold Grains at
Surface
Fredericton, New
Brunswick - November 18, 2021 -- InvestorsHub NewsWire
-- 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
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
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
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.
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