Trillium GOLD Mines Proposes to Recommence Exploration Including a Minimum 3,000 Metre Drilling Program ON the Newman Todd Property
TRILLIUM GOLD MINES PROPOSES TO RECOMMENCE EXPLORATION
INCLUDING A MINIMUM 3,000 METRE DRILLING PROGRAM ON THE
NEWMAN TODD PROPERTY
PROPOSED PLANS FOR INFILL DRILLING AND EXTENSION OF
KNOW MINERALIZATION AS WELL AS AT DEPTH
TEST NEW TARGETS ON PROPERTY FOR GOLD
MINERALIZATION ALONG STRIKE AND IN PARALLEL
STRUCTURES
Vancouver, British Columbia, Canada – July 15, 2020 – Trillium Gold
Mines Inc. (TSXV:TGM) (“ Trillium” or the “ Company“) is pleased to
announce that it will begin exploration drilling after a 7-year hiatus on
the Newman Todd property, which is subject to a joint venture
agreement in which the Company has a controlling interest, where
more than 55,000 metres of drilling has been previously completed.
The property has favourable geology with typical “Red Lake” alteration
and northeast trending structures and is located in the prolific Red Lake
gold district of Northwestern Ontario, Canada.
The proposed exploration program currently has 14 planned holes,
with a minimum 3,000m. Only 2.2 km of mineralized strike-length has
been tested to date, remaining open to the north-east, south-west and
at depth.
The property is underexplored with multiple untested zones and an
emerging geological model that will generate further targets. The
Newman Todd Structure (“ NTS”) remains the primary focus for this
initial drill plan with drill testing along strike and at depth.
Hole NT-129 (2012) was the deepest hole historically and intercepted
favourable host lithologies between 787 metres and 932 metres (145-
metre interval) below surface. This is encouraging as the widths are
comparable to those observed in shallower exploration (up to 400
meters depth) and shows potential for continuity down dip. At 832
metres true depth, an interval of 7.89 grams per ton gold (g/t Au) over
2.0 metres was intercepted, showing that the mineralization
mechanisms continue at depth and are remain untested. Further
intervals are listed on our website. Other ore bodies in the Red Lake
Gold Camp such as the Campbell Mine continue to depths exceeding
two kilometres below surface.
The NTS is a large-scale alteration/deformation zone. The iron
carbonate alteration within the NTS are interpreted to be associated
with large, multistage hydrothermal systems. Gold mineralization in
the NT zone is occurs with silica and/or sulphide replacement of iron
carbonate within altered iron rich sedimentary and volcanic rocks.
The Company will call a management committee meeting of the joint
venture to approve the above-mentioned proposed exploration
program. The approval of such program would require a simple
majority vote whereby each joint venture party can cast one vote for
each one percent interest owned by that party. The Company has more
than the sufficient votes required to approve the proposed exploration
program. It is expected that the Company can begin executing on the
proposed exploration program within the next 30 to 45 days.
David Velisek, CEO of Trillium Gold Mines, stated, “with our new
technical and new management teams, our renewed efforts to drill the
NT Structure with goals to increase the size and grade of known
mineralized zones, follow high grade mineralization to depth and to
explore along strike and in potential parallel structures in order to
discover new gold zones.”
The Newman Todd Property is situated in the Red Lake Greenstone
Belt, which hosts the world class high-grade Red Lake/Campbell gold
deposit, 25 km to the east.
The technical information presented in this news release has been
reviewed and approved by Andy Randall QP, PGeo, a technical advisor
to Trillium Gold Mines, as defined by NI 43-101.
For further information about this news release and the Company’s
current activities contact [email protected], visit our website
at www.trilliumgold.com or call us at 604-688-9588.
On behalf of the Board of Directors,
Trillium Gold Mines Inc.
“David Velisek”
David Velisek
CEO and Director
About Trillium Gold Mines Inc.
Trillium Gold Mines Inc. is a British Columbia based company engaged
in the business of acquisition, exploration and development of mineral
properties located in the highly prospective Red Lake Mining District of
Northern Ontario.
Disclosure and Caution
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking information, which involves
known and unknown risks, uncertainties and other factors that may
cause actual events to differ materially from current expectation.
Important factors, including the availability of funds and the results of
financing efforts, that could cause actual results to differ materially
from the Company’s expectations are disclosed in the Company's
documents filed from time to time on SEDAR (see www.sedar.com).
Readers are cautioned not to place undue reliance on these forward-
looking statements, which speak only as of the date of this press
release. The Company disclaims any intention or obligation, except to
the extent required by law, to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.
The securities referred to in this news release have not been, and will
not be, registered under the United States Securities Act of 1933, as
amended, or any state securities laws, and may not be offered or sold
in the United States unless pursuant to an exemption therefrom. This
press release is for information purposes only and does not constitute
an offer to sell or a solicitation of an offer to buy any securities of the
Company in any jurisdiction.