TRU
Precious Metals Doubles
Phase One Drill Program to up
to 2,500
Meters
at
its 100% Owned Twilite
Gold
Project
Fredericton,
New Brunswick - June
8,
2021
-- InvestorsHub NewsWire -- TRU Precious Metals
Corp. (TSXV:TRU; OTCQB:TRUIF;
FSE:706) ("TRU" or the
"Company") is pleased to
announce that the Company is
expanding the current phase 1 drill program at its 100% owned
Twilite Gold Project ("Twilite Gold") in the Central Newfoundland
Gold Belt to up to
approximately 2,500
meters, further to its
previous announcement on June 1,
2021.
The
drill
target
was previously
identified by
TRU during
a
detailed
ground geophysical
survey in November of
2020, as
announced
on
December
8,
2020.
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 Marathon
Gold's multi-million-ounce
deposit at Valentine Lake, and Matador Mining's Cape Ray
deposit.
Barry Greene, VP of Property Development and Director of TRU,
commented: "After
reviewing the core from TL21-16, our first drill hole of
2021,
I am excited to expand
the
Twilite Gold drill program. Most of the drilling will be focused on
exploring and expanding the
mineralized structure associated with
a
magnetic low, beginning with close undercuts of
historical
holes first and followed closely with about
25m
to 50m
step-outs along the structure. There is no shortage of room to move
both horizontally and vertically along the structure, enabling us
to easily expand the drill program."
The drill program will consist of
approximately 10-15
NQ boreholes situated along a deep seated, multi kilometer,
west-northwest trending mineralized structure
(Figure 1).
The drilling will focus on an approximately
500m
strike length section of this structure near the intersection with
a northeast trending mineralized structure that is also auriferous
in historic drilling. The target mineralized structure appears as a
prominent and deep-seated feature on geophysical 3D modeling images
and will be drill tested to a maximum depth of approximately
350
m
below surface.
Barry Greene, VP of Property Development and Director of
TRU,
continued:
"Meantime, we are pleased to see that diamond drill hole TL21-16
has intersected quartz veined intervals including a distinct and
more intense interval of approximately 9m from 126m to 135m at or
near the contact between strongly bleached and altered mafic
volcanics
and a sheared graphitic unit containing veined and brecciated
quartz with stringer and clotty pyrite. TL21-16 was an undercut of
historic drill hole TL99-14. Unlike hole TL99-14 which had poor
core recovery, hole TL21-16 has much better recoveries through the
mineralized zone."
After
initial drill core observations are made, the core is transported
to TRU's secure core logging facility where the core is being
logged, marked for sampling and then split using a core saw. The
samples will be shipped to Eastern Analytical assay lab in
Springdale, Newfoundland for gold fire assay.
Figure
1: Twilite
Gold
Proposed Drilling Plan View
TRU Co-Founder and CEO Joel Freudman
added:
"Exploration,
particularly this drill program at Twilite, is one of TRU's two key
value drivers, the other being M&A at the property and
corporate levels. Therefore, given that we are already
permitted for a more extensive drill program, we think it prudent
to expand the program's scope by adding several holes to better
test the structure. We look forward to unearthing
the potential
value at Twilite Gold."
As
previously disclosed on December 8,
2020,
the Company combined the results of a high-resolution,
detailed
ground magnetic survey
around known historical gold occurrences at Twilite Gold
with
other historical data to develop the
drill
target currently being
tested.
The
structurally
controlled gold mineralization near the Spring Pit
showing
within
Twilite Gold correlates directly
with a
prominent magnetic
low that continues to depth (Figure 2).
The modeling also indicates that the magnetic low associated with
the mineralized structure continues in a northwesterly direction
for at least 600 metres
(m)
to the
limit of the current magnetic survey.
The
mineralized structure was intersected by three shallow diamond
drill holes in a 1999 drilling program by Fort Knox Gold Resources,
and all such holes contained gold mineralization. Notably, drill
hole TH-99-10 intersected 8.41m @ 3.28 grams per
tonne
(g/t)
gold
(Au)
at the
top of the structure. The deepest hole to date on this structure
intersected 13.3m @ 1.02 g/t Au.
Figure
2:
Twilite
Gold
Cross-Section
TRU has not verified the historical assay results contained in this
press release and is not relying on them as current mineral
resources or mineral reserves.
Note that drill hole results are select samples and are not
necessarily representative of mineralization on
Twilite
Gold.
The diagrams and technical information herein relating to
Twilite
have been supplied by the vendor and have not been independently
verified by
the Company.
Readers are cautioned that these potential grades are conceptual in
nature; there has been insufficient exploration by the Company or
its qualified person at
Twilite
Gold
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.
Finally, the
Company's
chief executive officer has issued a letter to shareholders. A copy
of the letter is available to all interested readers on the
Company's
website.
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 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
TRU
Precious Metals Corp.
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
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,
including those relating to exploration
and the
drill program at
Twilite
Gold. These statements
are based on numerous assumptions regarding Twilite Gold
and
the Company's
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 Twilite
Gold; the exploration
potential of Twilite Gold
and the
nature and style of mineralization at Twilite
Gold; risks inherent in
mineral exploration activities and operational
problems relating to drilling; 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.
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