Fintech
TRU Precious Metals Options Property with Visible Gold in Further Expansion of Golden Rose Project
Fredericton, New Brunswick–(Newsfile Corp. – July 14, 2021) – TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce that it has entered into an option agreement dated July 13, 2021 (the “Option Agreement”), with an arm’s length individual (the “Optionor”), in respect of 5 mineral licenses covering 51 contiguous claims (12.75 square kilometres (km2)) located in west-central Newfoundland (the “Optioned Claims”), on which the Company has found visible gold. The Optioned Claims are contiguous with the Company’s flagship Golden Rose project (“Golden Rose” or the “Golden Rose Project”). In addition, the Company has indirectly staked a larger land package surrounding the Optioned Claims (the “Staked Claims”). Image 3 below contains a map showing the locations of the Optioned Claims and the Staked Claims.
TRU Co-Founder and CEO Joel Freudman commented: “I am excited about this option to add to our district-scale land package at the Golden Rose Project. TRU has moved aggressively in recent weeks to expand our footprint here, and the presence of visible gold on the Optioned Claims further bolsters the geological merit of Golden Rose. Having now tactically consolidated some of the most prospective property within and surrounding Golden Rose, for the time being we are satisfied that we have achieved one of our strategic objectives previously announced only one month ago on June 15th, namely property acquisitions contiguous with or close to the Company’s existing properties. With these acquisitions completed at Golden Rose, we believe we are ideally positioned for further discoveries there as we continue to carry out our comprehensive ground-level exploration program in anticipation of drilling Golden Rose later this year.”
Highlights
- Due diligence sampling and panning on the Optioned Claims by TRU management consistently returned numerous pristine to modified gold grains. These gold grains were found within a few meters of a partially exposed hardpan gossan (oxidized rock formation often found above mineral occurrences) consisting of iron oxide encrusted quartz grains and other minerals. (Image 1)
- A single large sample collected on the Optioned Claims by TRU was sent to Overburden Drilling Management Limited (“ODM”) of Ottawa, Ontario, whose analysis identified 97 visible gold grains that may have a nearby source. (Image 2)
Image 2: Gold Grains Collected by TRU From Optioned Claims
To view an enhanced version of Image 2, please visit:
https://orders.newsfilecorp.com/files/5993/90134_02d6651d14848841_002full.jpg
Optioned Claims
Barry Greene, P.Geo., TRU’s Vice-President of Property Development, and Pearce Bradley, P.Geo., TRU’s Exploration Manager, both visited the Optioned Claims on a recent due diligence visit and collected a single 12.9 kilogram wet sample for submission to ODM for analysis. Mr. Greene also discovered the gossan during such visit.
ODM’s analysis concluded: “The gold grains were likely subjected to minimal water transport as evidenced by the high proportion of pristine + modified morphologies and relatively high abundance of silt-sized grains suggesting a nearby source. The high calculated [heavy mineral concentrate] Au value suggests that the source, if bedrock, may be high grade.”
Separate from TRU’s sample, sampling and panning of beach sand and gravel over approximately 1 km by the Optionor reportedly returned numerous pristine to modified gold grains. The Optionor reported that the partially-exposed gossan identified by TRU was examined in several locations under the roots of upright trees.
Barry Greene, Vice-President of Property Development of TRU, added: “After panning so many pristine gold grains, we were pleasantly surprised to discover the hardpan gossan exposed under the roots of a nearby growing tree. As the roots were exposed to waves only during stormy weather, the gossan is not well exposed. Hopefully, the gossan represents the surface expression of a mineralized source which would enhance TRU’s Golden Rose Project. The mode of occurrence and morphology of the gold grains are indicative of being derived from a local erosional surface. As it lies along the intersection of several structures, the Optioned Claims will be an immediate target for our exploration team already working in the area.”
TRU’s exploration team is already adapting the Company’s field program to aggressively explore the Optioned Claims through soil sampling, ground geophysics and trenching. TRU plans to move all crews to the Optioned Claims shortly once exploration permits are in place.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90134
