Treasury Metals Adds a Second Drill Rig to Its Goliath Gold Project
31 Gennaio 2011 - 6:02PM
Marketwired
Treasury Metals Inc. ("Treasury Metals" or the "Company") (TSX:
TML) is pleased to announce that it has added an additional drill
rig to its Goliath Gold Project as part of its 20,000 metre diamond
drilling program initiated in December 2010. The additional drill
is to expedite the infill drilling program and to test highly
prospective exploration targets on the greater than 45km2 Goliath
property. Both drill rigs are positioned within the eastern portion
of the Thunder Lake gold deposit. The targeted area is near the
historic decline/portal and contains higher grade inferred mineral
resources that are being drilled to increase geological confidence
and upgrade to Indicated and/or Measured mineral resource
categories.
"We are eager to complete the in-fill drilling program in order
to move the project along the development path," commented Scott
Jobin-Bevans, President of Treasury Metals. "There are numerous
targets outside of the current mineral resources and so adding a
second drill provides our team of geologists with additional
exploration flexibility to test these highly prospective targets
while continuing the in-fill program."
About Treasury Metals
Treasury Metals Inc. is a Canadian mining company that is
focused 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 Metals also receives
revenue from a Net Smelter Royalty it holds 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, President of Treasury Metals,
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
This press release contains forward-looking statements such as
the expected use of the net proceeds from the private placement,
our future financial condition, business plans and objectives,
results of operations and business. Such statements are based on
operations, estimates, forecasts and projections. They are not
guarantees of future performance or events 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
herein and 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 Investor Relations
Consultant 1.416.303.6460 wanda@treasurymetals.com Treasury Metals
Inc. Martin Walter CEO 1.416.214.4654 martin@treasurymetals.com
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