Toronto, Ontario–(Newsfile Corp. – May 25, 2022) – TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce additional results of its Induced Polarization (“IP”) survey at the Company’s flagship Golden Rose Project (“Golden Rose”), further to its announcement of April 13, 2022. Golden Rose is located in the Central Newfoundland gold belt on the deposit-bearing Cape Ray-Valentine Lake Shear Zone.
TRU retained Simcoe Geoscience Limited (“Simcoe”) to deploy Simcoe’s next-generation wireless, high-definition Alpha IP technology to conduct a survey comprising 56 line kilometres (km) of wireless time domain IP on newly-defined plus underexplored historical gold exploration targets at Golden Rose. The results in this press release pertain to the developing Jacob’s Pond target area in the northeast of Golden Rose.
Highlights of IP Survey of Jacob’s Pond Include:
- Delineation of an open-ended 4-kilometer-long IP anomalous trend associated with copper-gold-silver-zinc-lead in soils, correlating with chalcopyrite in outcrop and in sheeted quartz veins along the Jacob’s Pond trend.
- 1.6-km-long IP anomaly correlating with the primary high-grade Jacob’s Pond and Rose Gold copper-gold-silver veins, significantly increasing the potential footprint of the mineralized zone.
- Drill target selection has commenced and permits for trenching and drilling at Jacob’s Pond are pending.
TRU VP of Property Development and Director Barry Greene commented: “Having confirmed that the Jacob’s Pond area hosts high-grade copper-gold-silver values in mineralized quartz vein networks at surface, our confidence level was further bolstered when a regional soil sampling survey produced a multi-kilometer anomalous trend in copper-gold-silver-zinc-lead that indicated a potential for much greater distribution to the mineralized system. Now that this 3D IP chargeability model coincides with the high-grade quartz veins and the anomalous soils, we are even more confident in the prospectivity of the Jacob’s Pond area, as we have three different exploration techniques that corroborate the same prospective targets. This IP model is the final layer of exploration data we needed to plan for a comprehensive and systematic trenching and drilling program in the summer and fall of 2022.”
The 3D IP model (Figure 1) shows the shape of the surface and subsurface regions which can hold an electric charge, referred to as an IP anomaly. This method, known as IP geophysics, is regularly used in gold exploration, where gold mineralization is associated with other metals in the ground which can hold an electric charge. The IP anomalies are represented as orange to pink-coloured regions, with hotter colours (pink) representing a stronger IP anomaly.
The existence of gold-bearing rock samples collected from IP anomalies that reach the surface, upgrades the exploration potential of the IP anomalies and provides some context as to the potential size of the overall target. Not all IP anomalies are prospective, therefore, collecting soil samples above multiple IP anomalies can further narrow down areas of interest. If soil is analyzed and is shown to contain gold, plus other metals (such as copper, lead, zinc and silver) (see Figure 2), and those soil samples are situated above areas that can hold an electric charge, then those areas are assigned higher rankings as prospective targets.
When several prospective targets are identified in this manner, exploration then moves to the trenching and drilling stage to define the geometry, grade and continuity of mineralized zones. Accordingly, drill target selection for TRU’s 2022 drill program has commenced.
Figure 2 – Copper, Zinc, Lead, Silver, Arsenic and Gold in Soils – Jacob’s Pond area
To view an enhanced version of Figure 2, please visit:
On May 23, 2022, the field component of the IP survey concluded following the completion of the east Woods Lake area covering the underexplored Sure Shot and Hill Top historic gold showings which contained grab samples of shear hosted quartz veins grading 2.9 grams per tonne (g/t) gold at Sure Shot and 25.8 g/t gold at Hill Top. The analysis and interpretation phase of the IP survey is ongoing.
2021 Drill Program – Final Results Update
The Company is also reporting that results from the final 6 holes of the 2021 drill program have been received; however, there are no additional gold assays of note.
National Instrument 43-101 Disclaimers
Note that soil, rock and float samples are selective by nature, and values reported may not represent the true grade or style of mineralization at Golden Rose. Readers are cautioned that these potential grades are conceptual in nature; there has been insufficient exploration by the Company or its qualified person at Golden Rose to define a mineral resource or mineral reserve; and it is uncertain whether further exploration will result in these targets being delineated as a mineral resource or mineral reserve.
The reader is cautioned that descriptions of mineralization, soil anomalies and IP anomalies reported in this news release are preliminary and/or early-stage results. While these features are considered encouraging, there is no guarantee that these features will return significant gold and/or copper values when drilled.
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 (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently TRU is exploring for gold and copper 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 a newly discovered 20 km district-scale structure and an additional 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 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)
Email: [email protected]
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.
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 and base 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/125192