Treasury Metals Intersects 16.12 g/t Au at 700 Metres on Goliath Gold Project
14 Aprile 2010 - 3:44PM
Marketwired Canada
Treasury Metals Inc. ("Treasury" or the "Company") (TSX:TML) is pleased to
announce further high-grade gold assay results from its recently announced
+5,000 metre diamond drilling program targeting deeper gold mineralization on
its Goliath Gold Project. The 100% owned Goliath Gold Project is located
alongside the Trans-Canada Highway about 20 kilometres east of the City of
Dryden, Ontario.
These latest results are from 4 drill holes that targeted high-grade structures
in the east and west regions of the current mineral resource (Thunder Lake Gold
deposit). Drill holes TL10-89 and 91 were collared about 800 metres northeast of
drill holes TL10-90 and 92. Of note, is the intersection in TL10-92 which is
approximately 330 metres down-dip of an intersection in historic drill hole
TL-156 that reported 1.00 m of 68.53 g/t Au. Assays for drill holes TL10-93 and
TL10-94 are pending.
Scott Jobin-Bevans, Treasury's President and CEO, said, "Our drilling confirms
that the structure, alteration and gold mineralization we see at shallower
levels continues at depths greater than 700 metres within the current mineral
resource, implying good vertical continuity in the high-grade structures. We
have done very little drilling below 400 metres in comparison to other
high-grade, deep deposits in Ontario and to date, we have seen spectacular gold
intercepts that reflect the potential of this deposit. We are back drilling in
less than 2 weeks as we continue to build ounces within the Thunder Lake Gold
deposit."
A map of collar locations and list of the drill hole collars and survey
information will be posted to the Company's website. Significant gold
intersections include:
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Drill From To Interval Au Au Comments
Hole (m) (m) (m) (g/t) (oz/t)
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TL10-89 549.00 550.00 1.00 2.54 0.07 Main Zone: 530 to 580 metres
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TL10-89 575.14 577.00 1.86 2.24 0.07 75m down-dip of TL10-88
----------------------------------------------------------------------------
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TL10-90 501.50 502.50 1.00 8.36 0.24 Main Zone: 493 to 528 metres
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TL10-90 518.42 519.43 1.01 2.95 0.09 190m down-dip of TL-83
----------------------------------------------------------------------------
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TL10-91 555.00 560.05 5.05 1.96 0.06 Main Zone: 535 to 576 metres
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inclu- 555.00 556.49 1.49 3.82 0.11 100m down-dip of TL-202
ding
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TL10-92 601.50 603.00 1.50 7.22 0.21
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TL10-92 733.05 733.55 0.50 16.12 0.47 Main Zone: 730 to 760 metres
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TL10-92 750.60 752.10 1.50 7.47 0.22 330m down-dip of TL-156
----------------------------------------------------------------------------
(i)intervals are not necessarily representative of true widths
About Treasury Metals
Treasury Metals Inc. is a mineral exploration company that is actively
developing its 100% owned flagship Goliath Gold Project. The Goliath Gold
Project contains the Thunder Lake Gold Deposit that has more than 1.0 million
estimated ounces of gold, consisting of 130,000 indicated ounces (820,000 tonnes
at 4.8 g/t Au; Main Zone) and 920,000 inferred ounces (7,000,000 tonnes at 4.1
g/t Au; All Zones), using a cut-off grade of 2.0 g/t Au (see NI 43-101 report -
"Report on the Goliath Project, Kenora Mining Division, Northwestern Ontario,
Canada" dated December 19, 2008 - filed on SEDAR). Mineral resources are not
mineral reserves and by definition do not demonstrate economic viability.
Drilling of the Thunder Lake Gold Deposit to date has intersected the Main Zone
over a strike length of about 1,700 metres, with thicknesses of 0.5 to 30 metres
(average width of 7.6 metres at 0.5 g/t Au cut-off) and a high-grade core with
an average width of 1.9 metres (3.0 g/t Au cut-off).
Treasury Metals has royalty revenue from Sierra Minerals' Cerro Colorado Mine in
Mexico along with other monetizable assets. Treasury Metals has a strong
shareholder base and its management team and board are seasoned mining industry
veterans with proven track records.
QA/QC Program
The Company has implemented a quality assurance and control (QA/QC) program to
ensure sampling and analysis of all exploration work is conducted in accordance
with the CIM Exploration Best Practices Guidelines. Samples are analyzed at
Accurassay Laboratories in Thunder Bay, Ontario and check assays are completed
by a secondary lab as necessary.
Technical information in this press release has been reviewed and approved by
Scott Jobin-Bevans, Treasury Metals' President and CEO, who is a qualified
person under the definitions established by National Instrument 43-101.
For additional information on Treasury Metals and its projects, please visit the
Company's website at www.treasurymetals.com.
Forward-looking Statements
Securities regulators encourage companies to disclose forward-looking
information to help investors understand a company's future prospects. This
press release contains statements about our future financial condition, results
of operations and business. These are "forward-looking" because we have used
what we know and expect today to make a statement about the future.
Forward-looking statements usually include words such as may, expect,
anticipate, believe or other similar words. We believe the expectations
reflected in these forward-looking statements are reasonable. However, actual
events and results could be substantially different because of the risks and
uncertainties associated with our business or events that happen after the date
of this press release. You should not place undue reliance on forward-looking
statements. As a general policy, we do not update forward-looking statements
except as required by securities laws and regulations.
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