TRU
Precious Metals Continues to Intersect Gold in New Drill Results
from Golden Rose Project
Toronto, Ontario
- March 3, 2022 -- InvestorsHub NewsWire
-- TRU
Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) ("TRU" or the "Company") is
pleased to announce additional assay results from 5 of 22 holes
completed during its 2021 winter drill program at its flagship
Golden Rose Project in Central Newfoundland ("Golden
Rose").
Highlights
-
12 metres (m) grading
1.01 grams per tonne (g/t) gold from drill hole
WL-21-12
-
7m grading 1.71 g/t
gold from drill hole WL-21-06, including 2.39 g/t over
4m
The drill program at
Golden Rose consisted of a total of 22 HQ diamond drill holes for a
total of 4,102.7m, covering both the Woods Lake Gold Zone prospect
("Woods Lake") and the King George IV Lake area ("KG4"). Golden
Rose is a regional-scale 236 square kilometre (km) land package,
including 45 km of strike length along the deposit-bearing Cape Ray
- Valentine Lake Shear Zone, and is located directly between
Marathon Gold's Valentine Gold Project and Matador Mining's Cape
Ray Gold Project.
Barry
Greene, VP of Property Development and Director of TRU, commented:
"I'm pleased that these results continue to intersect gold and
define Woods Lake, expanding the gold zone both up-dip and along
strike near surface. A focus of our 2021 drill program was to begin
delineating a near-surface gold zone that could potentially be open
pittable. This is especially important given the near-term
production decision at our neighbour Marathon's Valentine Gold
Project."
Table 1 - Woods Lake Uncut Assay
Highlights
Hole
No.
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Au
(g/t)
|
Zone
|
WL-21-06
|
65.00
|
72.00
|
7.0
|
1.71
|
Woods
Lake
|
Including
|
65.00
|
69.00
|
4.0
|
2.39
|
WL-21-11
|
22.00
|
35.00
|
13.00
|
0.40
|
Including
|
22.00
|
25.00
|
3.00
|
0.84
|
WL-21-12
|
20.00
|
32.00
|
12.0
|
1.01
|
Including
|
20.00
|
25.00
|
5.00
|
1.42
|
Figure 1 - Woods Lake
Drill Hole Locations
Table 2 - Woods Lake and KG4 Collar
Details
Hole
No.
|
Azimuth
(°)
|
Dip
(°)
|
Length
(m)
|
UTM
E
|
UTM
N
|
WL-21-06
|
40
|
45
|
166
|
441747
|
5334152
|
WL-21-11
|
40
|
45
|
56
|
441588
|
5334252
|
WL-21-12
|
40
|
45
|
59
|
441541
|
5334286
|
KG-21-01
|
283
|
55
|
176
|
438762
|
5338204
|
KG-21-02
|
90
|
55
|
176
|
438341
|
5338287
|
The new
results at Woods Lake expand upon the gold rich felsic intrusive
with mineralization consisting of a network of thin,
quartz-pyrite-hematite-arsenopyrite veins, fractures and
accompanying wall-rock sericitization and
silicification.
Woods
Lake is directly road accessible, with infrastructure including a
high voltage powerline and paved highway located just a few
kilometers to the east. The zone has been drilled and partially
delineated over approximately 550m along strike. Historical drill
intersections include 1.37 g/t gold over 26.31m (includes 6.18 g/t
gold over 5.11m) and 2.15 g/t gold over 12.6m (including 3.65 g/t
gold over 6.0m).
The Company has also
received results from two exploratory drill holes at KG4 which did
not return any significant gold values. These initial holes, which
were the first ever drilled at KG4, were on weaker, secondary IP
targets, and were not targeting the large horseshoe shaped IP
anomaly where a quartz stockwork containing chalcopyrite was noted
in drill core.
The
Company has an additional 15 drill holes currently in for assay
analysis and will report results are they are received and
reviewed.
The
Company is also reporting the issuance in February of 800,000 TRU
shares to Altius Resources Inc. ("Altius"), pursuant to the Option
Agreement between TRU and Altius for Golden Rose. The shares were
issued at a deemed price of $0.25 each, and the Option Agreement
remains in good standing.
Finally,
TRU continues to enjoy support from Insiders as CEO Joel Freudman,
and President Stephen Lautens purchased shares of TRU in
February.
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 TSX-listed Altius Minerals to purchase 100% of the
Golden Rose Project. Golden Rose is a regional-scale 236
km2
land package, including
45 kilometres 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:
Stephen
Lautens
President
TRU Precious Metals
Corp.
Phone: 1-855-760-2TRU
(2878)
Cell: (416)
738-5261
Email:
stephen@trupreciousmetals.com
Website:
www.trupreciousmetals.com
Joel
Freudman
Co-Founder &
CEO
TRU Precious Metals
Corp.
Phone: 1-855-760-2TRU
(2878)
Email:
ir@trupreciousmetals.com
Twitter:
@JoelFreudman
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
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, including those
relating to exploration plans and drill program results at Golden
Rose. These statements are based on numerous assumptions regarding
Golden Rose and the Company's drilling program and results 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 at Golden Rose; risks inherent
in mineral exploration activities; 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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