Treasury Metals Announces Additional Results at Goldlund Including 5.48 g/t Au over 25.9m and 2.94 g/t Au over 26.0m
Treasury Metals Announces Additional Results
at Goldlund Including 5.48 g/t Au over 25.9m
and 2.94 g/t Au over 26.0m
TSX: TML OTCQX: TSRMF
Highlights:
Results from 13 holes for the Goldlund Project 2021 drilling campaign released today
include significant intersections both within the PEA resource zone and along strike.
Selected drill results include:
GL-21-048 intersected
1.0 m
grading 21.50 g/t Au in Zone 4;
GL-21-050 intersected
26.0 m
grading 2.94 g/t Au, including
1.0 m
grading 63.50 g/t
Au and
1.0 m
grading 8.08 g/t Au in Zone 4;
GL-21-058 intersected
25.90 m
grading 5.48 g/t Au, including
1.0 m
grading 76.80 g/t
Au,
1.90 m
grading 14.95 g/t Au,
1.0 m
grading 5.26 g/t Au and
5.0 m
grading 2.95 g/t
Au in Zone 1;
GL-21-059 intersected
33.70 m
grading 1.67 g/t Au, including
1.1 m
grading 12.10 g/t
Au in Zone 1; and
GL-21-061 intersected
14.0m
grading 2.83 g/t Au, including
1.0m
grading 12.30 g/t
Au,
1.0 m
grading 6.14 g/t Au,
1.0 m
grading 5.58 g/t Au and
1.0 m
grading 4.77 g/t
Au in Zone 1.
Overall drilling continues to enhance the continuity of and has the potential to add to the
overall resource envelope at the Goldlund Project.
TORONTO
,
July 22, 2021
/CNW/ -
Treasury Metals Inc.
(TSX: TML) (OTCQX: TSRMF)
("
Treasury
" or the "
Company
") is pleased to announce results from an additional 2,300 metres
from 13 holes of a planned 30,000 metre diamond drilling program for 2021 at the Goldlund Gold
Deposit ("Goldlund") located within the larger 100% owned Goliath Gold Complex (the "Project" or
"GGC"), which includes the Goliath, Goldlund and Miller deposits along a prospective 65-kilometre
trend in
Northwestern Ontario
.
The exploration program has been designed to ensure the safety of the workforce and surrounding
communities during the COVID-19 pandemic and incorporates enhanced operating protocols that are
consistent with local health guidance. Treasury Metals is working with the MNRF to mitigate forest
fire risks from exploration activities and the Company has continued with exploration activities
allowed within the MNDMNRF Emergency Area Order.
The Company has drilled approximately 16,500 metres (76 holes) to date on the Goldlund Gold
Deposit including the results released today, assay results are pending on more than 5,700 metres
(27 holes). The 30,000 metre drill program at Goldlund is targeting infill and expansion of known
mineralization, as well as exploration step-out targets.
Jeremy Wyeth
, President and CEO of Treasury Metals, commented: "The drill results we released
today continue to illustrate solid intersections of mineralization, further adding to our confidence in
our ability to meet our goals of both resource growth and conversion at Goldlund. Several holes
released show significant intercepts of near surface mineralization that present opportunities for pit
growth and confirm the resource potential within the existing pits. With three drill rigs now mobilized
across our properties, we are confident that we can meet our commitment for a 60,000 metre drill
program and show the continuity, conversion and growth that we predicted at the start of 2021.
These results are some of the most significant results so far at Goldlund in 2021."
Figure 1: Goldlund Plan Map showing planned 2021 target locations (CNW Group/Treasury Metals
Inc.)
The drill program is actively targeting specific areas of conversion within the PEA (filed on SEDAR
March 11, 2021
) open pit along with additional growth of the resource directly along strike or
adjacent of the current resource. Results released today are from holes targeting infill of Zone 1 and
expansion on Zone 4. Over the balance of 2021, the Company plans to drill additional zones, as
outlined in Figure 1, to test the extension of mineralization across the various zones.
Results released today, along with the previous results released from drilling at Zone 4 (see
June
16, 2021
press release) illustrate the positive continuity of mineralization in Zone 4, including hole
GL-21-050, which intersected
0.7 m
grading 27.70 g/t Au and
26.0 m
grading 2.94 g/t Au (including
1.0 m
grading 63.5 g/t Au and
1.0 m
grading 8.08 g/t Au), GL-21-048, which intersected
1.0 m
grading 21.50 g/t Au and
5.9 m
grading 2.45 g/t Au (including
2.1 m
grading 6.30 g/t Au), GL-21-
047, which intersected
21.4m
grading 0.83 g/t, GL-21-034, which intersected
16.1 m
grading 0.99
g/t Au (including
0.8m
grading 10.00 g/t Au) and GL-21-029, which intersected
5.0 m
grading 2.95
g/t Au (including
1.0m
grading 8.78 g/t Au and
1.0 m
grading 5.70 g/t Au),
5.0 m
grading 0.62 g/t Au
and
14.7m
grading 0.46 g/t Au. Zone 4 is located approximately 80 metres to the Northwest of
Zone 1, is parallel in strike to Zone 1 and sits outside of the current proposed PEA pits. Results
from Zone 4 and Zone 8 are hosted within the Andesite and at Porphyry-Andesite contacts in the
footwall of Zone 1 as outlined in Figure 2, adding to our geologic understanding of the Goldlund
deposit.
Table
1
: New Significant Intercepts from recent drilling
Drill Hole
Zone
From
(m)
To
(m)
Sample Length
(m)
Grade (g/t
Au)
GL-21-029
4
31.00
36.00
5.00
2.95
including
31.00
32.00
1.00
8.78
and including
35.00
36.00
1.00
5.70
GL-21-029
4
109.40
124.10
14.70
0.46
GL-21-033
4
93.30
96.30
3.00
2.37
including
4
95.30
96.30
1.00
6.19
GL-21-034
4
77.05
93.15
16.10
0.99
including
89.50
90.30
0.80
10.00
GL-21-039
4
63.20
72.10
8.90
1.16
including
69.90
72.10
2.20
4.15
GL-21-045
8
137.60
148.60
11.00
1.02
including
147.60
148.60
1.00
4.90
GL-21-047
4
50.10
71.50
21.40
0.83
including
65.40
67.90
2.50
2.55
GL-21-048
4
128.00
129.00
1.00
21.50
GL-21-048
8
161.90
167.80
5.90
2.45
including
161.90
164.00
2.10
6.30
GL-21-050
6
6.00
6.70
0.70
27.70
GL-21-050
4
68.00
94.00
26.00
2.94
including
72.00
73.00
1.00
63.50
and including
93.00
94.00
1.00
8.08
GL-21-058
1
103.60
129.50
25.90
5.48
including
104.60
105.60
1.00
76.80
and including
109.60
111.50
1.90
14.95
and including
116.50
117.50
1.00
5.26
and including
123.50
128.50
5.00
2.95
GL-21-059
1
6.00
39.70
33.70
1.67
including
35.30
36.40
1.10
12.10
GL-21-061
1
133.00
147.00
14.00
2.83
including
133.00
137.00
4.00
6.35
including
133.00
134.00
1.00
12.30
and including
135.00
136.00
1.00
6.14
and including
139.00
140.00
1.00
5.58
and including
145.00
146.00
1.00
4.77
Note: Reported intervals are drilled core lengths and do not indicate true widths. For duplicate samples, the original sample gold assays are used to calculate the intersection
grade. All grades are un-capped
Complete results from the 2020/2021 drill program at Goldlund can be found
here
on the
Treasury Metals website.
In addition, the Company has completed several holes in Zone 1 (Refer to Figure 2) for the purposes
of resource conversion and metallurgical testing that returned significant intervals including hole GL-
21-058, which intersected
25.9 m
grading 5.48 g/t Au (including
1.0 m
grading 76.80 g/t Au,
1.9 m
grading 14.995 g/t Au,
1.0 m
grading 5.26 g/t Au and
5.0 m
grading 2.95 g/t Au), GL-21-059 which
intersected
33.7 m
grading 1.67 g/t Au (including
1.1m
grading 12.10 g/t Au) and GL-21-061 which
intersected
14.0 m
grading 2.83 g/t Au (including
1.0 m
grading 12.3 g/t Au,
1.0m
grading 6.14 g/t
Au and
1.0 m
grading 5.58 g/t Au). The holes targeting Zone 1 are located directly within the main
Zone 1 pit as proposed in the PEA and give further evidence to confirm the mineralization at
Goldlund over significant intervals related to the typical vein-hosted mineralization within
Granodiorite.
Figure 2:
Goldlund isometric view of Main PEA pit looking North, resource zones and highlighted hole
locations (CNW Group/Treasury Metals Inc.)
QA / QC
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 Activation Laboratories Ltd. 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
) following the completion
of a program.
Qualified
Persons
Mark Wheeler
, P.Eng., Director, Projects, and
Adam Larsen
, Exploration Manager, are both
considered as a "Qualified Person" for the purposes of National Instrument 43-101 Standards of
Disclosure for Mineral Projects ("
NI 43-101
"), and have reviewed and approved the scientific and
technical disclosure contained in this news release on behalf of Treasury.
About Treasury Metals Inc.
Treasury Metals Inc. is a gold focused company with assets in
Canada
. Treasury's Goliath Gold
Complex, which includes the Goliath, Goldlund and Miller deposits, is located in
Northwestern
Ontario
. The deposits benefit substantially from excellent access to the Trans-Canada Highway,
related power and rail infrastructure, and close proximity to several communities including
Dryden,
Ontario
. The Company also owns several other projects throughout
Canada
, including the Lara
Polymetallic Project, Weebigee-Sandy Lake Gold Project JV, and grassroots gold exploration
property Gold Rock. Treasury Metals is committed to inclusive, informed and meaningful dialogue
with regional communities and Indigenous Nations throughout the life of all our Projects and on all
aspects, including: creating sustainable economic opportunities, providing safe workplaces,
enhancing of social value, and promoting community well-being
To view further details about Treasury, please visit the Company's website at
www.treasurymetals.com
.
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the
TSX) accepts responsibility for the adequacy or accuracy of this release.
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. Forward-
looking statements are frequently, but not always, identified by words such as "expects",
"anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential",
"possible", "strategy", "goals", "objectives", or variations thereof or stating that certain actions,
events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the
negative of any of these terms and similar expressions. Actual results or developments may differ
materially from those in forward-looking statements. Treasury 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.
Since forward-looking information address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Actual results could differ materially from those currently
anticipated due to a number of factors and risks. These include, but are not limited to, exploration
and production for precious metals; delays or changes in plans with respect to exploration or
development projects or capital expenditures; the uncertainty of resource estimates; health, safety
and environmental risks; worldwide demand for gold and base metals; gold price and other
commodity price and exchange rate fluctuations; environmental risks; competition; incorrect
assessment of the value of acquisitions; ability to access sufficient capital from internal and
external sources; and changes in legislation, including but not limited to tax laws, royalties and
environmental regulations.
Actual results, performance or achievement could differ materially from those expressed in, or
implied by, the forward-looking information and, accordingly, no assurance can be given that any
of the events anticipated by the forward-looking information will transpire or occur, or if any of
them do so, what benefits may be derived therefrom and accordingly, readers are cautioned not to
place undue reliance on the forward-looking information.
SOURCE
Treasury Metals Inc.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/July2021/22/c3233.html
%SEDAR: 00027114E
For further information:
Jeremy Wyeth, President & CEO, T: +1 416 214 4654, Orin Baranowsky,
CFO, T: +1 416 214 4654, Email: [email protected], Twitter @TreasuryMetals
CO: Treasury Metals Inc.
CNW 16:30e 22-JUL-21