TRU Precious Metals Moves Drilling to King George IV Area of Golden Rose Project After Discovering More Visible Gold Grains at Surface
TRU Precious Metals Moves Drilling to King George IV Area
of Golden Rose Project After Discovering More Visible Gold Grains at Surface
Fredericton, New Brunswick – November 18, 2021 –TRU Precious Metals Corp. (TSXV:TRU;
OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce that the Company has commenced
drilling in the King George IV lake area (”KG4”) at its flagship Golden Rose Project (“Golden Rose”), in the
Central Newfoundland Gold Belt , building off a recently-completed IP geophysical survey . This is part of the
Company’s approximately 5,000 metre (m) diamond drill program underway at Golden Rose, as previously
announced on October 19, 2021.
Highlights
• 500m x 400m IP anomaly identified near pristine gold grains on shoreline of KG4
• Larger, approximately 1.5 kilometre (km) x 1.1 km horseshoe shaped IP anomaly identified near a cluster
of quartz stockwork containing chalcopyrite, sphalerite, pyrite and pyrrhotite
• Till sampling at KG4 yielded numerous anomalous values over 500 parts per billion (ppb) gold (Au),
including 1,699 ppb Au coincident with IP anomaly
• First ever drill program at KG4
Barry Greene, VP of Property Development and Director of TRU, commented: “As we take a pause to await assay
results from our drilling at the Wood Lake Gold Zone, including drill core with visible gold, we are excited to
have now moved drilling to the never -before-drilled KG4. Between these new till sampling results showing
significantly more visible gold grains at KG4, and the IP survey delineating clear drill targets, we believe that we
are vectoring in on the potential source of the earlier visible gold grains we discovered and announced on July 14,
2021. We are very encouraged that these samples contain higher gold concentrations.”
Current Exploration
TRU is pleased to report that several geologically well -situated IP targets have been identified and initial drill
targets have been selected. The initial drilling is focusing on a 500m x 400m N-S trending IP anomaly (Figure 1)
located a few hundred meters upslope of the KG4 shoreline, where 97 gold grains were returned from the
previously-announced panned sample containing numerous pristine gold grains. The IP anomaly is directly
upslope of the cemented hardpan gossan identified near those gold grains. A similar layer of hardpan gossan can
also be traced for approximately 500m south, coincident with the trace of the IP anomaly.
Figure 1: IP Chargeability Anomalies at KG4 With Gold Grain Counts in Till
Furthermore, an expanded till sampling program has also been completed in the surrounding area for gold grain
analysis and for geochemical analysis. Results from these samples has revealed multiple sites containing high
gold grain counts (Figure 1), including pristine gold grains suggestive of a locally derived source. Gold grain
counts include a sample containing 50 gold grains also coincident with the IP anomaly. In addition, geochemical
results have returned highly anomalous gold values coincident with the same IP anomaly, including multiple tills
over 500 ppb Au and one till sample grading 1,699 ppb Au (Figure 2).
Figure 2: Till Sampling Results at KG4
Further drilling at KG4 will focus on a large horseshoe-shaped IP anomaly measuring approximately 1.5km x 1.1
km. This anomaly coincides with and expands upon a cluster of large angular blocks of mineralized rocks with a
quartz stockwork containing chalcopyrite, sphalerite, pyrite and pyrrhotite found on the shoreline of KG4.
TRU Co-Founder and CEO Joel Freudman added: “We are increasingly excited about our ongoing drilling
program at Golden Rose. The strong presence of even more visible gold grains at KG4 than previously discovered
further justifies the prospectivity of Golden Rose. I am extremely pleased with Barry’s leadership of our field
team, and their excellent execution to date of TRU’s 5,000-metre diamond drill program , which continues on
schedule under the close supervision of our Exploration Manager Pearce Bradley and our other teammates. With
more than half of our planned drill metreage remaining, we look forward to a continued flow of good news to
report.”
Geological Background
The KG4 area within Golden Rose is geologically located along the structural contact between the younger
Windsor Point Group and the older King George IV ophiolite. Fieldwork by TRU’s geologists in the 2021 field
season has led to the interpretation that this contact is an inferred thrust fault and can be regionally correlated with
the Cape Ray Shear Zone. Notably, the cluster of mineralized quartz stockwork blocks and panned pristine gold
grains are located along the magnetic low which defines this structural contact. To the southwest, on Matador
Mining Ltd.’s (“Matador”) Cape Ray project, gold deposits are associated with a similar structural contact.
Golden Rose overall is a regional-scale land package covering approximately 236 square kilometres, including
approximately 45 km of strike length along the deposit-bearing Cape Ray -Valentine Lake structural corridor
between Marathon Gold Corp.’s Valentine Gold Project immediately to the northeast and Matador ’s Cape Ray
Gold Project immediately to the southwest.
Note that till samples and other exploration results are select samples and are not necessarily representative of
mineralization on KG4. Readers are cautioned that these grades are conceptual in nature; there has been
insufficient exploration by the Company or its qualified person at KG4 to define a mineral resource or mineral
reserve; and it is uncertain whether furth er exploration will result in these targets being delineated as a mineral
resource or mineral reserve.
Qualified Person
Barry Greene, P.Geo. (NL) is a qualified person as defined by National Instrument 43-101 and has reviewed and
approved the contents and technical disclosures in this press release. Mr. Greene is a director and officer of the
Company and owns securities of the Company.
About TRU Precious Metals Corp.
TRU is drilling for gold in the highly prospective Central Newfoundland Gold Belt and has an option with a
subsidiary of TSX-listed Altius Minerals Corporation to purchase 100% of the Golden Rose Project, located along
the deposit-bearing Cape Ray – Valentine Lake Shear Zone. TRU also owns 100% of the Twilite Gold Project,
located along the same Shear Zone, and earlier-stage properties in the region. TRU’s common shares trade on the
TSX Venture Exchange under the symbol “TRU”, on the OTCQB Venture Market under the symbol “TRUIF”,
and on the Frankfurt exchange under the symbol “706”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital
markets advisory services and proprietary financing. Resurgent works with promising public and pre -public
micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its
portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/
For further information about TRU, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: [email protected]
Website: www.trupreciousmetals.com
To connect with TRU via social media, below are links:
https://twitter.com/corp_tru
https://www.linkedin.com/company/tru-precious-metals-corp
YouTube
https://www.youtube.com/channel/UCHghHMDQaYgS1rDHiZIeLUg/
https://www.facebook.com/TRU-Precious-Metals-Corp-100919195193616
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support of the Twilite
Gold Project through the Junior Exploration Assistance Program. TRU has been approved for funding for a portion
of its 2021 exploration activities at the Twilite Gold Project.
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements relating to the drill program and other exploration
activities at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose, and the
Company’s exploration and drilling plans, that are believed by management to be reasonable in the circumstances,
and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on
adjacent and/or nearby pro perties is not necessarily indicative of mineralization hosted on Golden Rose; the
exploration potential of Golden Rose and the nature and style of mineralization; risks inherent in mineral
exploration activities, and operational problems relating to drilling; volatility in precious metals prices; and those
other risks described in the Company’s continuous disclosure documents. Actual results may differ materially
from results contemplated by the forward -looking st atements herein. Investors and others should carefully
consider the foregoing factors and should not place undue reliance on such forward -looking statements. The
Company does not undertake to update any forward -looking statements herein except as required by applicable
securities laws.