Treasury Metals Commissions Environmental Baseline Study on Goliath Gold Project
09 Novembre 2010 - 4:29PM
Marketwired
Treasury Metals Inc. ("Treasury" or the "Company")(TSX: TML) is
pleased to announce that it has retained Klohn Crippen Berger
("KCB") to produce comprehensive documentation of the existing
environmental conditions at the Company's 100% owned Goliath Gold
Project through an Environmental Baseline Study ("EBS"). The
Goliath Gold Project is located approximately 20 kilometres east of
the City of Dryden in northwestern Ontario, the heart of the Kenora
Gold District. The Company commissioned this study following the
recommendations in an independently produced Preliminary Economic
Assessment published in July 2010. The baseline study is an
important step in moving the Goliath Gold Project through
pre-feasibility, feasibility and ultimately into production.
"We are commencing this study to move the Goliath Gold Project
into the development stage, with the goal of building a gold mine,"
commented Scott Jobin-Bevans, President and CEO of Treasury Metals.
"At the same time, we believe that the Goliath Gold Project has the
geological potential to become a multi-million ounce property. It
covers a large area and hosts several prospective targets both
along strike of the resource and elsewhere on the Property that
have yet to be explored." He continued, "We see the Kenora Gold
District as an area of opportunity and we are evaluating other
opportunities both there and in the Americas as we work towards our
objective of becoming a mid-tier gold producer."
The first component of the EBS covers the period from Fall 2010
to Fall 2011 and will examine the health of the ecosystem by
studying ground and surface water quality, sediment quality,
fisheries, terrestrial resources and soil quality. Completion of
these studies and the development of the environmental baseline,
along with ongoing community consultation and socio-economic
studies, are key requirements for future government permitting of
the Property leading to advanced exploration status with the
Ontario Ministry of Northern Development and Mines.
About Treasury Metals
Treasury Metals Inc. is a Canadian mining company that is
focussed on expanding the Company's gold resources and developing
its 100% owned flagship Goliath Gold Project located in the Kenora
Gold District of northwestern Ontario. The NI 43-101 compliant gold
resource contains non-diluted underground Indicated Resources of
490,000 tonnes grading 5.7 g/t Au (90,000 ounces) and Inferred
Resources of 5,200,000 tonnes grading 4.4 g/t Au (740,000 ounces)
and surface Indicated Resources of 2,900,000 tonnes grading 1.9 g/t
Au (180,000 ounces) and Inferred Resources of 5,400,000 tonnes
grading 1.1 g/t Au (190,000 ounces). Treasury also receives revenue
from a Net Smelter Royalty they hold on Goldgroup Mining Inc.'s
Cerro Colorado Mine located in Mexico.
Technical information in this press release has been reviewed
and approved by Scott Jobin-Bevans, Treasury's President and CEO,
who is a qualified person under the definitions established by
National Instrument 43-101.
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. The drill core is sawn in half with one half
of the core samples shipped to Accurassay Laboratories in Thunder
Bay, Ontario. The other half of the core is retained for future
assay verification. Other QA/QC procedures include the insertion of
blind blanks and standards for every tenth sample in the sample
stream. Blind quarter core duplicates were assayed for 5% of the
samples. The laboratory re-assays at least 10% of all samples
(pulps and rejects) and additional checks may be run on anomalous
values. Gold analysis is conducted by lead collection, fire assay
with atomic absorption or gravimetric finish on a 30 gram sample.
Check assays by a secondary lab will be completed in the
future.
For additional information on Treasury Metals and its projects,
please visit the Company's website at www.treasurymetals.com.
Forward-looking Statements
This press release contains forward-looking statements such as
the closing date of the private placement, the anticipated net
proceeds from the private placement and the expected use of such
proceeds, our future financial condition, results of operations and
business. Such statements are based on operations, estimates,
forecasts and projections. They are not guarantees of future
performance and involve risks and uncertainties that are difficult
to predict and may be beyond Treasury Metals' control. A number of
important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements,
including those set forth in other public filings. In addition,
such statements relate to the date on which they are made.
Consequently, undue reliance should not be placed on such
forward-looking statements. Treasury Metals disclaims any intention
or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
save and except as may be required by applicable securities
laws.
Contacts: Treasury Metals Inc. Wanda Cutler Corporate
Development Consultant 1.416.303.6460 wandajcutler@gmail.com
Treasury Metals Inc. Scott Jobin-Bevans President & CEO
1.416.214.4654 scott@treasurymetals.com www.treasurymetals.com
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