TriMetals Mining Inc. Reports First 2016 Drill Results from South Jumbo Including 18.3 Metres Averaging 3.84 g/t AuEq, Near Surface, Within 150.9 Metres Averaging 1 g/t AuEq
NEWS RELEASE: 17-01
TriMetals Mining Inc. Reports First 2016 Drill Results from
South Jumbo Including 18.3 Metres Averaging 3.84 g/t AuEq,
Near Surface, Within 150.9 Metres Averaging 1 g/t AuEq
January 11, 2017, Vancouver, British Columbia—TriMetals Mining Inc. (TSX: TMI,
US OTCQX: TMIAF), (the “Company”), is pleased to announce the first drill results from
South Jumbo around the historic Etna mine, located towards the southern end of the Jumbo
Trend, some 1.5 km south of the present resource area, within the Gold Springs project located
in Utah and Nevada. All drilling was conducted on Utah State Trust Lands within a recently
acquired 160 acre parcel. Highlights include 3.46 g/t Au and 23.39 g/t Ag over 18.3 metres in
hole E-16-005, within a strong, wider zone of near surface mineralization averaging 2.17 g/t
AuEq over 45.7 metres, which itself is within 150.9 metres averaging 1.00 g/t AuEq:
Hole From (m) To (m) Thickness
(m)
Gold (g/t) Silver (g/t) AuEq (g/t)
E-16-005 24.4 42.7 18.3 3.46 23.39 3.84
Within
E-16-005 19.8 65.5 45.7 1.93 15.08 2.17
Within
E-16-005 19.8 170.7 150.9 0.87 7.78 1.00
* Gold Equivalent (“AuEq”) calculated using a 61.9 gold to silver ratio and assumes 100% metallurgical recoveries. True width is
approximately 80-90% of Thickness.
Link to Location Map showing Jumbo Trend:
http://www.trimetalsmining.com/wp-content/uploads/2017/01/GSPR_Figure1-09-17v2mpm.pdf
Link to Location Map showing RC hole E-16-05:
http://www.trimetalsmining.com/wp-content/uploads/2017/01/EtnaPlanSection6800N.pdf
A total of 8 holes were completed in 2016 in the vicinity of the historic Etna mine with all holes
located north of holes E-12-001 (39.6 metres @ 0.57 g/t Au and 4.2 g/t Ag) drilled in 2012 and
E-14-001 (29.0 metres @ 0.85 g/t Au and 10.22 g/t Ag) drilled in 2014. The Company believes
that these earlier holes, together with the recent drilling, outline an open-ended zone of gold
mineralization extending for 400 metres which is open along strike both to the north and south,
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and to depth. Notably many of the six holes reported here ended in mineralization, suggesting
that the actual mineralized zone is even wider than reported.
Highlights from the first 6 holes (results from holes E-16-007 and E-16-008 are still pending) at
Etna include:
Hole From (m) To (m) Thickness
(m)
Gold (g/t) Silver (g/t) AuEq (g/t)
E-16-001 65.5 80.8 15.3 1.11 5.95 1.20
E-16-002 68.6 86.9 18.3 1.43 14.58 1.66
E-16-003 50.3 86.9 36.6 0.65 9.39 0.80
E-16-004 41.1 65.5 24.4 2.04 11.49 2.22
E-16-005 19.8 170.7 150.9 0.87 7.78 1.00
Inc. 19.8 65.5 45.7 1.93 15.08 2.17
Inc. 24.4 42.7 18.3 3.46 23.39 3.84
E-16-006 15.2 24.4 9.2 0.65 6.68 0.76
* Gold Equivalent (“AuEq”) calculated using a 61.9 gold to silver ratio and assumes 100% metallurgical recoveries. True width is
approximately 80-90% of Thickness.
A complete set of cross-sections through the South Jumbo and a trace map showing the surface
location of the RC holes is available here:
http://www.trimetalsmining.com/wp-content/uploads/2017/01/EtnaPlanSections6000N-6900N.pdf
Ralph Fitch, President and CEO of the Company stated “These latest results from South Jumbo
are very important for the advancement of the Gold Springs project, demonstrating the
existence of much higher-grade, near surface, mineralization than has typically been drilled in
the past. Any extension of the 2-3 g/t gold intercept seen in E-16-005 and E-16-004 would
potentially allow for the development of a higher-grade starter pit with its associated positive
economic impacts, to be mined at the beginning of project development, together with our
existing resource, estimated in North Jumbo, 1.5-3.0 km to the north. Drilling has now indicated
the presence of gold mineralization over approximately half of the 5 km Jumbo Trend which is
defined by the ZTEM geophysical anomaly. It is planned to update the Gold Springs resource
estimate this quarter using the drill results from both the 2015 and 2016 drill programs,
including the results reported here.”
All holes contained an upper and lower mineralized zone and all ended in mineralization,
including hole E-16-001, which was drilled to a total depth of 214.9 metres with the last 15.2
metres of the hole averaging 0.67 g/t Au and 3.06 g/t Ag. Importantly, 198.1 metres of this hole
averaged 0.36 g/t AuEq and, as noted above, ended in mineralization. The deeper
mineralization seen in E-16-001 was not reached in any of the other holes as all ended at much
shallower depths. These stacked mineralized zones and the deeper mineralization intersected in
hole E-16-001 suggest that the South Jumbo has the potential to develop into a significant
mineral system with thicknesses of mineralization comparable, or greater than, those seen in the
area of the presently reported resource estimate in North Jumbo (NI 43-101 Technical Report
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dated August 12, 2015). The South Jumbo (Etna) extends another 1000 metres south of the
reported holes, to the southern end of the ZTEM geophysical anomaly.
Hole E-16-006, the most northern of the holes reported, contained shorter, and lower grade
intervals of gold-silver mineralization than the other five holes reported here, however, this
mineralization is very significant in that it shows the mineral system continues to the north, in
an area of structural complexity, that geological interpretation indicated might have cut-off the
mineralization.
Details of mineralization intersected:
Hole From (m) To (m) Thickness
(m)
Gold (g/t) Silver (g/t) AuEq (g/t)
E-16-001 16.8 214.9 198.1 0.32 2.52 0.36
Inc. 16.8 88.4 71.6 0.47 3.8 0.53
Inc. 65.5 80.8 15.3 1.11 5.95 1.21
and 111.3 123.4 12.1 0.61 2.88 0.66
and 199.6 214.9 15.3 0.67 3.06 0.72
E-16-002 0 105.2 105.2 0.56 5.54 0.65
Inc. 68.6 86.9 18.3 1.43 14.58 1.66
E-16-003 38.1 96.0 57.9 0.48 8.19 0.61
Inc. 50.3 86.9 36.6 0.65 9.39 0.81
E-16-004 25.9 36.6 10.7 0.48 4.67 0.55
36.6 41.1 4.5 Old Working
and 41.1 65.5 24.4 2.04 11.49 2.22
E-16-005 19.8 170.7 150.9 0.87 7.78 1.00
Inc. 19.8 65.5 45.7 1.93 15.08 2.17
Inc. 24.4 42.7 18.3 3.46 23.39 3.84
and 117.3 153.9 36.6 0.95 9.3 1.10
E-16-006 15.2 24.4 9.2 0.65 6.68 0.76
and 120.4 132.6 12.2 0.38 5.46 0.47
Drill
Hole
Easting -
UTM NAD 27
Northing -
UTM NAD 27
Elevation
(m) Azimuth Inclination
TD
(ft)
TD
(m)
E-16-001 760606 4196611 6622 90 -50 705 214.9
E-16-002 760579 4196650 6620 90 -50 485 147.8
E-16-003 760555 4196701 6615 90 -50 515 157.0
E-16-004 760545 4196754 6612 90 -50 625 190.5
E-16-005 760531 4196787 6603 90 -50 605 184.4
E-16-006 760529 4196834 6590 90 -65 525 160.0
About TriMetals Mining Inc.
TriMetals Mining Inc. is a growth focused mineral exploration company creating value through
the exploration and development of the near surface, Gold Springs gold-silver project in mining
friendly Nevada and Utah in the U.S.A.
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The Company’s approach to business combines the team’s track record of discovery and
advancement of large projects, key operational and process expertise, and a focus on community
relations and sustainable development. Management has extensive experience in the global
exploration and mining industry.
The Company’s common shares and Class B shares are listed on the Toronto Stock Exchange
under the symbols “TMI” and “TMI.B” and the common shares and Class B shares also trade on
the OTCQX market under the symbol “TMIAF” and “TMIBF”. Note that the Class B shares have
no interest in the properties or assets of the Company other than a collective entitlement to 85%
of the net cash, if any, (after deducting all costs, taxes and expenses and the third-party funder's
portion thereof) received by TMI from award or settlement in relation to the Company’s
subsidiary South American Silver Limited’s arbitration proceeding against Bolivia for the
expropriation of the Malku Khota project in 2012. Additional information related to TriMetals
Mining Inc. is available at www.trimetalsmining.com and on SEDAR at www.sedar.com.
Qualified Person
The Qualified Person on the Gold Springs property is Randall Moore, Executive Vice President
of Exploration – North America of TriMetals Mining Inc. and he has reviewed and approved the
content of this press release. The Qualified Person verified the data for its geological
reasonableness, checked all the inputs and verified the analytical data through an analysis of the
blanks and standards submitted with the drill-chip samples.
Quality Assurance and Quality Control
Approximately 10 kg of RC chips were sent to the laboratory for each 1.52 metre drill interval.
Fifteen percent of the samples submitted by the Company are blanks and standards for QA/QC
purposes. In addition, the laboratory also includes duplicates of samples, standards and blanks.
The results of these check assays are reviewed prior to the release of data. All RC chip sample
assays are also reviewed for their geological context and checked against the drill logs.
Assay Method
TMI Assays were performed in Sparks, Nevada by Bureau Veritas Mineral Laboratories, an ISO
9001:2000 Certified laboratory. Gold was analyzed by fire assay of a 30-gram sample with an
AAS finish with samples assaying greater than 10 g/t re-assayed using a 30-gram sample and a
gravity finish. All other elements were analyzed by a four acid leach ICP method coded MA300.
No known drilling, sampling, recovery or other factors have been observed that could materially
affect the accuracy or reliability of the data referred to in this news release.
Gold Equivalent
Gold Equivalent (AuEq) in this press release was calculated using a 61.9 gold to silver ratio and
assumes 100% metallurgical recoveries.
Forward-Looking Statements
Certain statements contained herein constitute “forward-looking information” or “forward-looking
statements” under applicable securities law s (“forward -looking statements”) . Forward-looking
statements look into the future and provide an opinion as to the effect of certain events and trends on the
business. Forward-looking statements may include words such as “outline”, “suggesting” or “suggest”,
“continue”, “indicates”, “ would”, “potentially” or “potential”, “planned” and similar expressions .
Interpretations of exploration results, including the strength of mineralization, are also forward-
looking statements. These forward -looking statements are based on current expectations and entail
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various r isks and uncertainties. Actual results may materially differ from expectations if known and
unknown risks or uncertainties affect our business or if our estimates or ass umptions prove inaccurate.
Factors that could cause results or events to differ materially from current expectations expressed or
implied by the forward -looking statements, include, but are not limited to, risks of the mineral
exploration industry which m ay affect the advancement of the Gold Springs project, including possible
variations in mineral resources, grade, recovery rates, metal prices, capital and operating costs, and
the application of taxes; availability of sufficient financing to fund planned or further required work in
a timely manner and on acceptable terms; availability of equipment and qualified personnel, failure of
equipment or processes to operate as anticipated, changes in project parameters , including water
requirements for operations, as plans continue to be refined; regulatory, environmental and other risks
of the mining industry more fully described in the Company’s Annual Information Form and continuous
disclosure documents , which are available on SEDAR at www.sedar.com. The assumptions made in
developing the forward -looking statements include: the accuracy of current resource estimates and the
interpretation of drill, metallurgical testing and other exploration results; the continui ng support for
mining by local governments in Nevada and Utah; the availability of equipment and qualified personnel
to advance the Gold Springs project; execution of the Company’s existing plans and further exploration
and development programs for Gold Sp rings, which may change due to changes in the views of the
Company or if new information arises which makes it prudent to change such plans or programs.
Readers are cautioned not to place undue reliance on the forward -looking statements contained in this
press release. Except as required by law, the Company assumes no obligation to update or revise any
forward-looking statement, whether as a result of new information, future events or any other reason.
Unless otherwise indicated, forward -looking statements in this press release describe the Company’s
expectations as of January 11, 2017.
TriMetals Mining Inc. Contact:
Ralph Fitch
President & CEO
303.584.0606
Matias Herrero
Chief Financial Officer
303.584.0606