TRU Precious Metals Corp. (TSXV: TRU | OTCQB: TRUIF) (“TRU”) is a portfolio company of merchant bank Resurgent Capital. TRU has assembled a portfolio of several gold exploration properties in the Central Newfoundland Gold Belt. TRU’s flagship project is the Golden Rose Project which lies just near Marathon Gold’s Valentine Project, which holds the largest undeveloped gold resource in Atlantic Canada.
The Golden Rose Project
TRU owns 100% of the Golden Rose Project which is spread over a 236 km2 land package. The Project lies in the highly prospective Central Newfoundland Gold Belt between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. Golden Rose covers a vast and largely under-explored land package and is transected by the Valentine Lake structural corridor, hosting over 45 km of prospective strike-length for gold and copper mineralization.
Key recent news at the Golden Rose Project is a deal to extend the claims with an option to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2 including a 12 km strike length along the Cape Ray – Valentine Lake Shear Zone (“Shear Zone”).
Even better news occurred on January 12, 2023, when TRU reported high-grade channel sampling results from Mark’s Pond Trench at the Golden Rose Project. The highlight results included 57.6 g/t gold (“Au”) over 2.5 meters (“m”), 34.0 g/t Au over 2.0 m & 23.5 g/t Au over 2.0 m. The Mark’s Pond target is located along the deposit-bearing Shear Zone.
Location Map: TRU’s Golden Rose Project – Mark’s Pond Target – Recent High-grade Gold Channel Results
Previously three bedrock grab samples from Mark’s Pond returned very high-grade gold assay results including:
- 1929.0 g/t Au
- 205.6 g/t Au
- 180.1 g/t Au
Furthermore, grab samples collected at Rich House along the northern shore of Victoria Lake returned weighted average total gold values between 4.3 and 16.8 g/t Au.
Grab samples and trench sampling are only two early indicators of the area’s potential; however these grades are superb and have certainly got the Company excited as you can see in this recent InvestorIntel video.
The Northcott Gold Zone has the Potential to be a Company-making Discovery
The 2 to 3 m wide northeast trending shear zone (“Northcott Gold Zone”) contains abundant visible gold within quartz-carbonate veins.
“The Northcott Gold Zone remains open along strike to the southwest and northeast. This zone is potentially part of a larger scale, gold-endowed structural corridor located within the Mark’s Pond target area, and potentially extending to the Rich House target 4 km to the northeast.“
The Northcott Gold Zone at the Golden Rose Project: Potential of a Larger 4 km Trend from the Mark’s Pond to Rich House Targets
Source: Company presentation
TRU plans to extend the trench further in both directions and complete detailed structural mapping of the entire trench and additional channel sampling in spring 2023 prior to drilling this zone.
TRU’s Vice President of Exploration, Paul Ténière, commented:
“This is a very exciting time for TRU, and these excellent gold assay results from our recent channel sampling program help confirm our belief that the newly discovered Northcott Gold Zone is part of a larger scale, gold-endowed structural corridor located within the Mark’s Pond target area, and potentially extending to the Rich House target 4 km to the northeast. The Northcott Gold Zone is not far from the high-grade Mark’s Pond Gold Zone, and we anticipate further gold discoveries along strike and to the northwest. The Mark’s Pond – Rich House targets will be considered a high priority for our 2023 exploration program at Golden Rose including additional trenching, channel sampling, and drilling.“
Finding new gold discoveries is never easy. In this case, TRU still has a long way to go in order to see if the Northcott Gold Zone is part of a larger scale, gold-endowed structural corridor, but so far it looks very promising with some very high-grade trenching sample and grab sample results. In 2023, the Company will continue trench sampling work to potentially extend the Northcott Gold Zone as well as help identify drill target areas.
TRU Precious Metals Corp. trades on a market cap of C$6 million. 2023 could be a big year for TRU and potentially a company maker if significant gold discoveries follow.