Goliath Exploration Program Intersects 10.1 g/t Au over 4.0 m and 14.8 g/t Au over 7.0 m at Main and C Zones
Goliath Exploration Program Intersects 10.1 g/t Au over 4.0 m and 14.8 g/t
Au over 7.0 m at Main and C Zones
TSX: TML
OTCQX: TSRMF
TORONTO
,
Jan. 13, 2020
/CNW/ -
Treasury Metals Inc.
(
TSX: TML
) ("Treasury" or the "Company") is pleased to announce the assay results from the initial
nine holes of its 15,000 metre exploration program, including results from the Eastern C Zone and Main Zone targets at the Company's flagship Goliath Gold
Project located in northwestern
Ontario
.
Highlights include:
TL19-505:
7.4 g/t Au over
6.3 m
including 10.13 g/t Au over
4.0 m
in the Main Zone.
The Eastern C Zone exploration target – TL19-503: intersected
14.8 g/t Au over
7.0 m
including 101.0 g/t over
1.0 m
.
TL19-502:
5.2 g/t Au over
7.0 m
in the Main Zone.
Targeting the Eastern C Zone - TL19-506:
14.6 g/t Au over
1.0 m
, 11.8 g/t over
1.0 m
, and 8.13 g/t over
1.0m
intersecting in a newly discovered lens of
high-grade mineralization east of the existing resource area. The C Zone intersected a wide, lower grade halo of gold mineralization (
6.8 m
@ 1.35 g/t).
TL19-507:
6.2 g/t Au over
4.0 m
in the Main Zone.
TL19-508:
4.1 g/t Au over
5.4 m
including 9.7 g/t Au over
2.0 m
in the Main Zone.
TL19-510:
4.25 g/t Au over
5.0 m
in the Main Zone.
Treasury's Eastern C Zone infill and expansion drilling program has progressed well with significant intersections encountered to date in the sparsely drilled area
to the east of the currently defined resource area. The drilling results show consistent zones of strong alteration and a mineralized envelope with high-grade
lenses within it. These results have the potential to lead to further resources for inclusion in future resource estimates and mining studies.
Of note is the newly discovered Main Zone gold intersections in this drilling program to the east of the resource area in holes designed to target the C Zone. The
drill holes intersected the Main Zone with meaningful gold grades in an area that had previously not been considered Main Zone targets. Further investigation of
this area will be conducted as the program progresses.
Additional drilling of the Main Zone shows high potential for upgrading of the current Goliath Gold Project's mineral resources.
Two drills remain on site to complete the C Zone infill program and will continue to focus on the Eastern area of the Main Zone. The drills will subsequently move
to exploration locations with the intent to test targets identified in the recent downhole IP survey, as well as extend the Main Zone past the boundary of currently
defined resources with adjacent extensions.
Figure 1:
Plan View, 2019 Drill Program Collar Location Map (
click to enlarge
).
Figure 1: Plan View, 2019 Drill Program Collar Location Map (CNW Group/Treasury Metals Inc.)
Figure 2:
Goliath Gold Project C Zone Longitudinal Section of the Developing Underground Area (
click to enlarge
). The updated Main Zone Longitudinal Section is
available on the website.
Figure 2: Goliath Gold Project C Zone Longitudinal Section of the Developing Underground Area. The updated Main Zone Longitudinal Section is available on the
website. (CNW Group/Treasury Metals Inc.)
Table 1: Infill Drill Hole Intercepts
Drill Hole
Target
Zone
From (m)
To (m)
Sample Length
(m)
Grade g/t
Au
TL19-502
Main
Main
189.00
196.00
7.00
5.22
Including
195.00
196.00
1.00
34.70
Main
204.30
207.00
2.70
1.32
Main
221.00
222.70
1.70
1.80
TL19-503
C
Main
356.00
361.00
5.00
1.91
C
449.00
456.00
7.00
14.79
Including
449.00
450.00
1.00
101.00
TL19-504
Main
Main
141.00
158.00
17.00
0.89
Including
141.00
145.00
4.00
1.83
and
Including
155.40
158.00
2.60
1.47
TL19-505
Main
Main
214.70
221.00
6.30
7.40
Including
217.00
221.00
4.00
10.13
TL19-506
C
HW
339.00
340.00
1.00
11.80
Main
400.00
401.00
1.00
14.60
Main
420.60
423.00
2.40
4.14
Including
422.00
423.00
1.00
8.13
C
507.20
514.00
6.80
1.35
Including
507.20
510.00
2.80
2.35
TL19-507
Main
Main
256.00
275.00
19.00
2.37*
Including
270.00
274.00
4.00
6.23*
TL19-508
Main
Main
204.00
209.40
5.40
4.10*
Including
204.00
206.00
2.00
9.73*
Main
216.70
219.20
2.50
1.61
Main
228.80
230.20
1.40
2.79*
TL19-509
Main
HW
84.70
88.50
3.80
2.86
Including
87.70
88.50
0.80
7.04
Main
149.00
153.00
4.00
1.04
Main
157.00
165.00
8.00
1.80
TL19-510
Main
Main
175.00
180.00
5.00
4.25
Main
185.00
187.00
2.00
2.61
For duplicate samples, an average of the two gold assays are used to calculate the intersection grade; all grades un-cut, no-capping.
Holes are generally drilled 350-0° Azimuth with inclinations ranging -65 to -80°.
All assays are rounded to two decimal places.
Intervals do not indicate true widths.
Silver results pending for all samples.
*Metallic Screen Fire Assay Results.
Qualified Person
Technical information in this press release has been reviewed and approved by
Adam Larsen
, P. Geo, who is the qualified person under the definitions
established by National Instrument 43-101.
To view further details about the Goliath Gold Project, please visit the Company's website at
www.treasurymetals.com
.
Follow us on Twitter @TreasuryMetals
About Treasury Metals Inc.
Treasury Metals Inc. is a gold focused exploration and development company with assets in
Canada
and is listed on the Toronto Stock Exchange ("TSX") under
the symbol "TML" and on the OTCQX® Best Market under the symbol "TSRMF".
QA/QC Program:
The Company has implemented a quality assurance and quality control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in
accordance with the CIM Exploration Best Practices Guidelines. The drill core is sawn in half with one-half of the core sample dispatched to Actlabs facility
located in
Dryden, Ontario
. The other half of the core is retained for future assay verification and/or metallurgical testing. Other QA/QC procedures include the
insertion of blanks and Canadian Reference Standards for every tenth sample in the sample stream. A quarter core duplicate is assayed every 20
th
sample. The
laboratory has its own QA/QC protocols running standards and blanks with duplicate samples in each batch stream. Additional checks are routinely run on
anomalous values including gravimetric analysis and pulp metallic screen fire assays. Gold analysis is conducted by lead collection, fire assay with atomic
absorption and/or gravimetric finish on a 50 gram sample. Check assays are conducted at a secondary ISO certified laboratory (in this case AGAT Laboratories
located in
Mississauga, Ontario
). Metallic screen fire assaying is now completed using a 1.0 kg sample and four 50 gm fire assays of the pass (-100 mesh)
pulverized material.
Forward-looking Statements
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of
historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Actual results or developments
may differ materially from those in forward-looking statements. Treasury Metals disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
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For further information:
Greg Ferron, CEO and Director, T: 1.416.214.4654, [email protected]; Mark Wheeler, Director Projects, Goliath Gold
Project, T: 1.416.214.4654, [email protected]
CO: Treasury Metals Inc.
CNW 07:00e 13-JAN-20