TRU
PRECIOUS METALS ANNOUNCES
SUMMER
2021
EXPLORATION PROGRAM
Fredericton,
New Brunswick - May
31,
2021 --
InvestorsHub NewsWire -- TRU Precious Metals
Corp. (TSXV:TRU;
OTCQB:TRUIF; FSE:706)
("TRU"
or the
"Company")
is pleased to announce the start of its
summer
2021 exploration program across its district-scale land package in
the Central Newfoundland Gold Belt.
The initial program will
commence with
the
Gander West and
Twilite
Gold projects,
followed by
additional work planned at
the
Rolling Pond
and
Golden Rose
projects.
Co-Founder and CEO
of TRU Joel Freudman commented,
"We
expect the summer months to be exhilarating for TRU. We were
purposeful in 2020 to be
very aggressive
in building a commanding land
position
in
this
prolific gold belt region.
Having previously
identified a drill target at our
Twilite
Gold Project, we are eager to
start
drilling
there
imminently.
We
expect to see work
across
nearly
our
entire
property portfolio
this summer,
most
prominently
at
Golden Rose
and
Twilite
Gold,
and
also
at
Rolling Pond and Gander West. With a
strong balance sheet and a
$3.5 million flow-through
financing
fully committed
and
currently underway with Eric
Sprott
and
other institutional investors,
we
expect to be
well-funded
for 2021 and beyond."
Golden Rose Project
The
Golden Rose Project is a regional-scale land package covering 105
kilometres squared (km2)
within the Valentine Lake structural corridor and is easily
accessible via provincial highway and forest access roads. It is
located between Marathon Gold Corp.'s ("Marathon") Valentine Gold
Project to the northeast, where Marathon has reported
3.09
million
ounces (Moz.) Measured and
Indicated gold (Au) resources (comprised
of 54.9
million
tonnes (Mt) at 1.75
grams
per tonne (g/t)
Au)
plus
0.96
Moz. Inferred Au resources
(16.8
Mt at 1.78 g/t
Au),[1]
and
Matador Mining's Cape Ray Gold Project to the southwest, which also
has a known gold deposit.[2]
TRU
will embark on a multi-phase exploration program throughout the
remainder of 2021 to further delineate the known areas of gold
mineralization and test new zones. Highlights
of recently
uncovered gold
occurrences (by the previous
owners) which have yet to
be tested by TRU
include
Rose Gold, Jacob's Pond and
Jen's Pond. A summary follows:
-
Rose
Gold - A
hand
dug trench exposed
a
30-40 centimetre
wide
quartz-vein/breccia hosted in sheared
metavolcanics.
Original grab
samples
assayed 18.8 g/t Au and 7.2 g/t Au. Follow up prospecting in
2019
returned a 20.2 g/t
Au sample. Limited work has been
done in
the
area,
mostly soil sampling and prospecting, but
no
drill testing.
-
Jacob's
Pond -
Several
gold prospects in a cluster located on trend to the
Rose
Gold prospect;
dominantly
quartz-sulphide +/- calcite
veins/breccia adjacent to a major fault zone.
There
was a notable grab sample assay
of 3.38 g/t Au,
2.3% copper,
4.1 g/t silver
from
a
massive
sulphide vein in
basalt, and
another grab
sample
with 3.9 g/t Au and
5.61%
copper.
-
Jen's
Pond -
There
is a large
angular
boulder cluster located on the edge of a pond. Grab sample
values returned
up to
4.2 g/t
Au.
Dominantly quartz calcite
with
varying concentrations of pyrite, arsenopyrite (up to
50%),
chalcopyrite and galena.
Phase
1
Work
Program
Our
Phase 1 Work Program, which is expected
to commence by
early
to mid-June,
will
concentrate on ground truthing the historic
gold-soil-anomalies and existing
mineral occurrences by
prospecting. Prospecting, geological
mapping and soil sampling
will then be expanded property-wide.
Targets confirmed by prospecting and soil sampling will be followed
up with trenching, with grids cut in areas identified for potential
follow-up
with ground geophysics.
Phase
2 Work Program
Our
Phase 2 Work Program, which is expected to commence
sometime
in
Q3,
will
consist of a 5000-metre
diamond-drill
program. This would test both newly defined targets and the South
Woods Lake Zone, a gold zone that
has been traced for 550 metres
(m)
by
drilling and contains historic drill intersections such as 2.15
g/t
Au
over
12.6m and 1.37 g/t
Au
over
26.3m. Approximately
1000m
of this
drilling would provide sufficient information on the structure and
underlying geology of these areas and confirm the historic drill
results. The Rose Gold -
Jacob's
Pond -
Jen's
Pond area and possibly
the Mink Pond - Glimmer Pond area should be followed up with ground
geophysics. Prospecting,
soil
sampling and
trenching would continue
during Phase 2 as required.
Twilite
Gold Project
On
December 8, 2020, TRU announced that it had identified a promising
drill target at its Twilite Gold Project. Twilite Gold is
strategically located on the mapped extension of the Cape Ray -
Valentine Lake Shear Zone. Numerous advanced-stage gold exploration
projects are currently underway along this district-scale shear
zone, including the
Marathon
and
Matador
Mining deposits referenced
earlier and
Canterra
Minerals'
Wilding
Lake project.
Twilite
Gold is located only 15 kilometers south of Grand Falls-Windsor, a
town of approximately 15,000, which is the service and
supply centre
for
central Newfoundland. Twilite Gold is easily accessible with an
all-weather gravel road leading directly to the
prospect.
Drilling
is planned to
commence
imminently
at Twilite
Gold
and will be announced separately
once underway.
Gander West
On
May 25, 2021,
TRU
announced
a phase one
structural mapping, soil sampling,
till sampling and inaugural
prospecting program at Gander West.
Early
prospecting efforts have identified a quartz vein system with
sulphide mineralization and have
confirmed the
presence of a fault zone that correlates
with a 10km long structural lineament through the property.
The Company is in the
process of submitting
samples
for geochemical analysis.
The wholly-owned
Gander West Property consists of 120 claims covering 3,000 hectares
of prospective ground.
The Gander West Property is located near the Trans-Canada Highway
and approximately 16 km
from the Keats zone at
New Found
Gold Corp.'s Queensway
Project, where New Found Gold reported
drill intercepts on May
21, 2021 of 146.2
g/t Au
over 25.6
m.[3]
Rolling Pond
The Rolling Pond property is contiguous with the south end
of
New Found
Gold's Queensway project.
A phase 1 exploration program has been proposed for the Rolling
Pond property,
starting in early June,
consisting
of property-wide
soil sampling and prospecting.
The sampling will cover the
large
hydrothermal
and quartz breccia
system which has been identified over a
1.2
km strike length but has never been subjected to a systematic soil
geochemical survey. Sampling will also be positioned to expand upon
a
known soil geochemical anomaly near the
south-central
area of the property where a coincident multi element soil anomaly
has returned
gold values from 5
parts per billion (ppb)
to 142ppb, one of two gold anomalous areas spanning a 500m
length.
National
Instrument 43-101 Disclaimers
The
technical information
herein,
including assays, relating to
the
Golden Rose Project and the Rolling
Pond Property is historical in
nature and has not been
independently verified by TRU. Note that rock
grab and float
samples
and
drill hole intervals are selective by
nature,
and
values reported may not represent the true grade or style of
mineralization across the mineral properties
in question.
Barry
Greene, P.Geo.
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 has assembled a
portfolio of 5 gold exploration properties in the highly
prospective Central Newfoundland Gold Belt. The Company has an
option with a subsidiary of TSX-listed Altius Minerals Corporation
to purchase 100% of the Golden Rose Project, located along the
deposit-bearing Cape Ray - Valentine Lake Shear Zone. TRU also owns
100% of the Twilite
Gold
Project, located along the same Shear Zone, and 3 under-explored
properties including its Rolling Pond Property (under option)
bordering New Found
Gold
Corp.'s high-grade Queensway Project. TRU's
common
shares trade on the TSX Venture Exchange under the symbol "TRU", on
the OTCQB Venture Market 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 Canadian companies. For more information on
Resurgent and its portfolio companies, please visit Resurgent's
LinkedIn profile at
https://ca.linkedin.com/company/resurgent-capital-corp.
For
further information about TRU, please contact:
Joel
Freudman
Co-Founder,
President & CEO
Phone:
1-855-760-2TRU
(2878)
Email:
info@trupreciousmetals.com
Website:
www.trupreciousmetals.com
To connect with TRU
via social media, below are links:
Facebook
https://www.facebook.com/TRU-Precious-Metals-Corp-100919195193616
Twitter
https://twitter.com/corp_tru
LinkedIn
https://www.linkedin.com/company/tru-precious-metals-corp
YouTube
https://www.youtube.com/channel/UCHghHMDQaYgS1rDHiZIeLUg/
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.
Information in this
press release relating to third-party mineral
exploration properties are from sources
believed to be reliable, but that have not been independently
verified by TRU. Certain
historical technical
information herein relating to the Golden Rose Project
and the Rolling Pond
Property has been supplied by the optionors of those
properties and has not been
independently verified by TRU.
This
press release contains certain forward-looking statements,
including those relating to exploring the Company's mineral
exploration properties,
the
prospectivity
and
mineralization of the Company's properties, and the
status and benefits
of the
Company's proposed flow-through financing. These statements
are based on numerous assumptions regarding the execution and
success of exploration 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 the Company's
properties; the exploration
potential of the Company's
properties and the nature and
style of mineralization at same;
risks inherent in mineral exploration activities; volatility in
financial markets, economic conditions, and precious metals prices;
challenges in attracting and retaining qualified personnel; 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.
