March 22, 2022 (Source) — TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce details of its 2022 exploration and work program at its flagship Golden Rose Project (“Golden Rose”), which is now underway.
“Our 2022 exploration season is off to a great start,” said TRU President Stephen Lautens. “The IP survey we announced last month is underway in identifying new high-priority targets for further exploration across our district-scale land package at Golden Rose. A large soil sampling program will further identify new areas for follow-up drilling. Since we acquired Golden Rose last year, TRU has rapidly identified and explored multiple gold targets to show the discovery potential of this property, developing a robust pipeline of drill targets with a view to making Golden Rose a turn-key exploration and development project. We look forward to following up discoveries with new drilling and trenching later this year.”
Golden Rose is a regional-scale land package covering approximately 236 square kilometres (km2) in the Central Newfoundland Gold Belt, including approximately 45 km of strike length along the deposit-bearing Cape Ray -Valentine Lake Shear Zone between Marathon Gold Corp.’s Valentine Gold Project to the northeast and Matador Mining Ltd.’s Cape Ray Gold Project to the southwest.
Simcoe IP Survey Update
On February 9, 2022, TRU announced contracting Simcoe Geoscience Limited (“Simcoe”) for an IP survey at Golden Rose. The IP survey is deploying Simcoe’s next-generation wireless, high-definition Alpha IP™ technology. The survey will comprise approximately 56 line km of wireless time-domain induced polarization using Simcoe’s Alpha IP™ system and is expected to be complete within 60 days. The detailed data compiled from this survey will guide TRU’s 2022 trenching and drilling program and be instrumental in developing an additional inventory of highly prospective exploration targets at Golden Rose.
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Barry Greene, VP of Property Development and Director of TRU, added: “I am excited to kick off TRU’s 2022 exploration program. The goal of our program will be to identify additional drill targets for 2022 and beyond. In November 2021, we confirmed a second district-scale gold trend at Golden Rose through an extensive soil sampling program. One area of strong interest that was identified by our previous program was the Jacob’s Pond gold zone, which we will be focusing on over the coming months. Simcoe’s detailed IP survey is actively underway over this gold target. The proposed soil sampling program is planned to be an early season blitz using a large field crew,” Mr. Greene continued. “It is designed to provide early results to generate targets that can be trenched and drilled later this field season.”
Soil and Till Sampling Work
TRU will also undertake an extensive soil and till sampling program at Golden Rose. The multi-crew program is planned to collect more than 10,000 samples at individual sites across the property, designed to identify new gold mineralization and provide additional targets for TRU’s 2022 trenching and drilling programs. The work will focus on completing and infilling gaps in soils coverage over the two primary, deep seated structural corridors that have been delineated over much of the strike length running through the property.
In particular, sampling will be done over the numerous known gold bedrock showings on which minimal previous geochemical or ground geophysical coverage is available, and which are located on primary, secondary or tertiary order structures which emanate from a crustal scale shear zone. Of particular interest in the southwest are the Glimmer Pond, Mink Pond and Falls Zone gold showings, which display a combination of quartz veining and/or regional silicification on which minimal historical work has been carried out. Historical prospecting in the Glimmer Pond area did identify a quartz rich float sample with visible gold with a grab sample which assayed 213.8 grams per tonne (g/t) gold.
Figure 2: Golden Rose Project – Proposed Regional 2022 Soil and Till Survey
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The Company has previously reported that its 2021 drill program encountered gold mineralization in 9 out of the 9 drill holes reported to date at the Woods Lake gold zone (“Woods Lake”), including continuous near-surface gold mineralization (see press releases of March 3 and March 9, 2022). The gold zone has now been intersected in diamond drilling over 800 metres of strike length and is open at depth and along strike.
A total of 11 of the 22 drill holes from the 2021 drilling season have been reported to date. The Company is awaiting assay results for the remaining holes and will report them as assays are received.
The Company is compiling and modeling the 2021 drill program results for Woods Lake. A higher grade core has now been modeled and is showing characteristics of a doubly plunging structurally controlled gold zone. Additional drilling will be required to fully explore and delineate these trends.
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 TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including 45 km of strike length along the deposit-bearing Cape Ray -Valentine Lake Shear Zone directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. TRU’s common shares trade on the TSX Venture Exchange under the symbol “TRU”, on the OTCQB Venture 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/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
To connect with TRU via social media, below are links:
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
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 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 properties 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; 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 statements 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.