TRU Precious Metals Announces Completion of Drill Program at Golden Rose Project in Central Newfoundland and Reports Gold in Initial Assay Results

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Fredericton, New Brunswick–(Newsfile Corp. – January 11, 2022) – TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce that it has completed the diamond drill program, as previously announced on October 19, 2021, at its flagship Golden Rose Project in Central Newfoundland (“Golden Rose”). The drill program comprised a total of 22 HQ diamond drill holes for a total of 4,102.7 metres (m), covering both the Woods Lake Gold Zone prospect (“Woods Lake”) and the King George IV Lake area (“KG4”) of Golden Rose (Figures 2 and 3, respectively). The Company is also pleased to announce assay results from 2 of these holes.

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.

Highlights

  • Discovery of a new quartz-pyrite-chalcopyrite (copper) stockwork system in mafic volcanics at KG4. This intercept is near a large boulder field of similar material found along the shoreline.
  • Expansion of Woods Lake mineralized system by 300m along strike containing quartz- pyrite-arsenopyrite veining, in footwall metasedimentary rocks in hole WL-21-14.
  • 12 of the 16 holes drilled at Woods Lake that targeted the known gold zone successfully encountered the altered and mineralized monzogranite (QFP), which is host to most historical gold intercepts on this zone.
  • Notable early results include 9.9m @ 2.13 grams per ton (g/t) gold (Au) within a broader interval of 18.9m @ 1.26 g/t Au, from drill hole WL-21-03 at Woods Lake (Table 1).
  • Specks of visible gold (Figure 1) have been identified in three drill holes at Woods Lake: WL-21-04 @ depths of 58.45m and 129.82m; WL-21-05 @ depths of 52.79m and 55.04m; and [email protected] 77.56m depth.

Barry Greene, VP of Property Development and Director of TRU, commented: “We are extremely encouraged with our early drill results from this program as we await further assays. Diamond drilling at both KG4 and Woods Lake have successfully identified new mineralized areas for further expansion. Meanwhile, given the plethora of grassroots gold and copper-gold targets at Golden Rose, we are already planning an expansion of our regional exploration program for 2022. In particular, the Jacob’s Pond gold showing stands out as an immediate area of interest.”

At Woods Lake, a total of 16 drill holes were completed for 2,911.7m (Figure 2). Exploration drilling 300m along strike to the northwest of the known gold zone was targeting the continuation of the anomalous gold soil geochemistry associated with the gold zone. In addition to successfully intersecting the mineralized QFP in 12 holes, drill hole WL-21-14 successfully intersected quartz-pyrite-arsenopyrite veining from 86.60-97.97m. This mineralization is hosted in quartz veins and breccias.

Also at Woods Lake, localized specks of visible gold were documented in quartz veins and breccias both in the primary host QFP and in narrow quartz veins in the footwall, specifically at 129.82m of WL-21-04. This further confirms that gold mineralization potential exists outside the primary host intrusive rocks and broadens the scope of potential targets.

Figure 2 – Drill Hole Locations at Woods Lake

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Table 2.: Collar Details for WL-21-02
and WL-21-03

Hole No. Azimuth (°) Dip (°) Length (m) UTM (E) UTM (N)
WL-21-02 40 45 118.7 441557.9 5334305.8
WL-21-03 40 45 91.0 441606.3 5334271.2

 

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