Treasury Metals Reports Infill Drilling Results and Prepares to Mobilize NE Regional Exploration Program
Treasury Metals Reports Infill Drilling Results and Prepares to Mobilize NE
Regional Exploration Program
TSX: TML OTCQX: TSRMF
TORONTO, March 27, 2018 /CNW/ - Treasury Metals Inc. (TSX: TML) ("Treasury Metals" or the
"Company") is pleased to announce initial assay results from its active 15,000-meter infill exploration
drilling program at the Company's flagship Goliath Gold Project located in northwestern Ontario. The
Company is currently exploring and infill drilling in the Main Zone with two rigs. A drill hole location plan
map and longitudinal section are presented at the end of this release.
Figure 1: 2018 Infill Drill Program Collar Location Map
"We are pleased with the drilling progress at Goliath for a number of reasons. The infill drill results have
increased our confidence in the overall resource potential and further support our belief that gold
continues at depth. In April, we will initiate a step-out exploration program to the north-east along strike to
test for additional high-grade gold shoots. The company continues to push ahead on all development
fronts including the Federal Environmental Assessment process, community and First Nations dialogue,
and a Pre-Feasibility Study," said Chris Stewart, Treasury's President and Chief Executive Officer. "We
expect 2018 to benefit from our significant efforts over the past several years."
In addition to the on-going infill program, the Company will commence an initial 5,000 meters of resource
expansion/exploration drilling in April which is focused on Treasury Metals' high-priority East Resource
Target area as follow-up to the successful near surface drilling program that was completed last summer.
Gold mineralization was intersected in several drill holes approximately 80 to 350 meters from the
proposed open pit both near surface and at depth (see press release dated October 2, 2017). The step
out program will be expanded along strike east of the open pit with a second rig once the infill program is
completed and as the program is further developed.
Today's infill results are primarily in the lower extents (400-600 meters) of the central and eastern shoots
of the Main Zone drilled from surface. The infill and expansion drilling is focused on the outer edges of the
known high-grade shoots and are successfully converting inferred to indicated resources. The Main Zone
central shoot remains open at depth, as demonstrated in TL17-460 and TL18-464, with the alteration and
mineralized envelope intersected at this depth.
Drilling Highlights
East Area:
TL18-469: 5.04 g/t over 6 meters
TL18-468: 1.41 g/t over 11.6 meters
Central Area:
TL18-467A: 6.60 g/t over 4.2 meters
TL17-422: 4.10 g/t over 5.0 meters including 18.20 g/t over 1.0 meters in the C Zone
TL 17-422: 3.67 g/t over 4.0 meters
TL18-464: 5.77 g/t over 3.0 meters
TL17-460: 4.80 g/t over 3.0 meters
Table 1: Infill Drill Hole Intercepts
Drill Hole Target Zone From (m) To (m)
Sample Length
(m) Grade g/t Au g/t Ag
TL17421A Main Zone M1 698.00 703.00 5.00 1.67* 6.82
Including 701.00 703.00 2.00 2.31* 11.00
M2 713.00 715.00 2.00 1.77* 4.65
TL17422 C Zone M1 348.00 352.00 4.00 3.67* 3.58
Including 348.00 350.00 2.00 6.48* 6.10
B1 Zone 392.00 395.00 3.00 2.38* 2.26
Including 392.00 392.90 0.90 7.13* 6.20
C1 429.00 433.00 4.00 2.44* 20.50
Including 431.00 433.00 2.00 4.58* 40.25
C2 457.00 462.00 5.00 4.10* 26.46
Including 459.00 460.00 1.00 18.20* 119.00
TL17460 Main Zone HW 575.40 578.00 2.60 2.14* 14.50
M1 634.00 646.00 12.00 1.99* 3.63
including 643.00 646.00 3.00 4.80* 8.83
M2 663.00 667.00 4.00 1.89* 38.60
including 664.00 665.00 1.00 6.47* 80.10
TL17461 Main Zone M1 595.00 602.00 7.00 1.78* 16.40
including 599.00 600.00 1.00 5.41* 42.50
M2 613.00 615.00 2.00 2.24 4.90
TL17462 Main Zone M1 631.00 637.00 6.00 1.81* 7.10
including 633.00 637.00 4.00 2.35* 9.90
M2 663.00 664.50 1.50 1.23 8.87
TL17463 Main Zone M1 583.00 585.00 2.00 1.09 3.85
TL18464 Main Zone M1 626.00 629.00 3.00 5.77* P
including 626.00 627.00 1.00 9.71* P
M2 645.00 648.00 3.00 1.16* P
TL18465 Main Zone Hole Abandoned
TL18466 Main Zone M1 514.00 519.00 5.00 2.61* P
including 518.00 519.00 1.00 10.10* P
TL18467A Main Zone M1 531.60 533.60 2.00 1.26 P
M2 538.50 542.70 4.20 6.60 P
including 539.50 540.00 0.50 43.10 P
TL18468 Main Zone Main 506.40 518.00 11.60 1.41* P
including 508.50 511.20 2.70 2.59* P
TL18469 Main Zone Main 558.00 564.00 6.00 5.04 P
Including 559.00 560.00 1.00 23.40 P
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
*Metallic Screen Fire Assay Results
P – Assay results pending
Full Table of Assays will be provided on the company's website
The company has not used a Gold Equivalent (AuEq) for the contained silver for this release but would
expect the recovery of silver to increase the overall contained AuEq by a small amount in future studies.
The Company also completed surface geotechnical site investigation across the property in Q1/2018 to
ensure adequate coverage for geotechnical and earthworks information that will be included in the
upcoming Feasibility study. More than 40 holes were tested across the entire site including footprints for
the Waste Rock Storage, Tailings Facility and Processing plant. The completion of this substantial
program supports all design work and garnered sufficient data to support the engineering work through to
completion of the Feasibility Study.
Figure 1: 2018 Infill Drill Program Collar Location Map (Click here to enlarge)
Figure 2: Main Zone Long Section (Click here to enlarge)
Qualified Persons
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. All results
from the program will be available for viewing in the Complete Assay Table on the Company's website.
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. Treasury Metals Inc.'s 100% owned Goliath Gold Project in
northwestern Ontario is slated to become one of Canada's next producing gold mines. With first-rate
infrastructure currently in place and gold mineralization extending to surface, Treasury Metals plans on
the initial development of an open pit gold mine to feed a 2,500 per day processing plant with subsequent
underground operations in the latter years of the mine life.
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 20th
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 2.0 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.
Figure 2: Main Zone Long Section
SOURCE Treasury Metals Inc.
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%SEDAR: 00027114E
For further information: Chris Stewart, President and CEO, T: 1.416.214.4654,
[email protected]; Greg Ferron, Vice President, Corporate Development, T:
1.416.214.4654, [email protected]
CO: Treasury Metals Inc.
CNW 07:30e 27-MAR-18