TriMetals Mining Inc. to Restart Drilling at Gold Springs
TriMetals Mining Inc. to Restart Drilling at Gold Springs
Vancouver, British Columbia—September 19, 2019
TriMetals Mining Inc. (TSX: TMI, US OTCQB: TMIAF), (the “Company” or “TMI”), is
pleased to announce that in early October it will be initiating a new drilling program at its Gold
Springs project located in Nevada and Utah.
The initial focus of the drill program will be the Homestake patented claims (the “Homestake
target”) located on the Nevada side of the Gold Springs project, 700 metres east of the Grey
Eagle resource, and adjoining to the north to Newmont Goldcorp Corporation’s mining claims.
In operation during the late 1800s and early 1900s, the Homestake Mine was one of few in the
area with mill facilities. TMI is the first group to have been granted a lease on the Homestake
patented claims and it will be conducting the first modern exploration program since the
Homestake mine finally became idle in the early 1940’s.
Matias Herrero, President & CEO of TMI stated “Now that the arbitration with Bolivia is
concluded, and the sale of the Escalones copper project is nearing completion, we are well on
our way to becoming a leaner, more competitive, gold-focused company. We are enthusiastic to
return to exploring the Gold Springs project and drill-test the Homestake historic mine area.
Since its acquisition last year, we have looked forward to being the first company in modern
times to have the opportunity to explore this gold system. Our goal for this initial drill program
is to restart the process of adding to our existing resources at Gold Springs, and to continue to
demonstrate the multi-million ounce potential of the Gold Springs project, in southern Utah and
Nevada, both, top-ten mining jurisdictions in the world1”.
For a map of the location of Homestake and for a conceptual cross-section, please click here:
https://www.trimetalsmining.com/site/assets/files/3925/tmi_pr_2019-09-19_homestake-maps2.pdf
Technical Information About Our New Drilling Program
The drill program at the Homestake target will consist of approximately 3,000 metres of reverse
circulation (“RC”) drilling and the length of the program may extend to the spring of 2020 as
winter delays can be expected. Results are expected in December 2019 and early 2020.
The Homestake target is highlighted by two main parallel 3-4-metre-thick gold-bearing veins
which have returned high-grade results from surface samples collected by the Company. These
two veins are separated by 20-30 metres of brecciated and silicified rocks which have returned
intermediate gold grades and represent a priority target along with the enclosing veins. This
package of veins and breccia is surrounded by a wide stockwork zone containing low-grade gold
values. Drilling will focus on the surface-exposed 650 metre strike length of the Homestake vein
system along with the enclosed breccia and surrounding stockwork zones. This entire system
1 Fraser Institute’s most recent annual survey of mining companies published on February 28, 2019.
has a surface-exposed width of approximately 400 metres and is offset by faulting along the
eastern margin.
The drill program will additionally test the high-grade Iris vein located 200 metres to the west
of, and dipping back toward, the Homestake veins and breccia zones. The Company believes the
configuration of the Homestake-Iris vein intersection is consistent with classic models for
epithermal vein systems and often represents where bonanza gold grades are found in these
environments. TMI projects the Homestake-Iris vein intersection to be at a depth of
approximately 150 metres and will be one of the targets in this drill program.
TriMetals Mining Inc. Contact:
Matias Herrero
Chief Executive Officer
About TriMetals Mining Inc.
TriMetals Mining Inc. (TSX: TMI, OTCQB: TMIAF) is a growth-focused gold exploration
company creating value through the exploration and development of the near-surface Gold
Springs gold-silver project in mining-friendly Nevada and Utah, U.S.A. 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 of TriMetals Mining Inc. and he has reviewed and approved the content of this
press release.
Forward Looking Statements
Certain statements contained herein constitute “forward-looking information” under
applicable Canadian securities laws (“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 “creating”,
“expects”, “may”, “continue”, “will” and similar expressions. These forward-looking statements
are based on current expectations and entail various risks and uncertainties. Actual results
may materially differ from expectations if known and unknown risks or uncertainties affect
our business or if our estimates or assumptions 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 may 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 continuing 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 Springs, 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 the date hereof.