Treasury Metals Intersects 16.60 m of 32.73 g/t Au and Continues to Define High-Grade Gold Zone at the Goliath Project
12 Aprile 2011 - 3:50PM
Marketwired
Treasury Metals Inc. ("Treasury Metals" or the "Company") (TSX:
TML) is very pleased to announce additional drill results from its
current 20,000 metre diamond drilling campaign to upgrade mineral
resources at the Goliath Gold Project. The company reports
high-grade intersections (in table), with the best results being
16.60 m of 32.73 g/t Au in hole TL11-135 including 5.25 m of 78.86
g/t Au. Over 20 counts of visible gold were observed over the full
interval. These drill holes are located near the eastern boundary
of the existing resource and continue to define a high-grade zone
at the Goliath Gold Project.
Significant gold intersections include:
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Drill Hole From(m) To (m) (i)Interval(m) Au(g/t) Comments
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TL11-134 260.46 273.38 12.92 2.50 Main Zone
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including 270.38 272.38 2.00 7.78 Main Zone
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TL11-135(ii) 314.90 331.50 16.60 32.73 Main Zone
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including 323.25 328.50 5.25 78.86 Main Zone
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TL11-136 261.55 264.96 3.41 5.32 Main Zone
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and 273.00 275.00 2.00 3.92 Main Zone
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(i)Intervals do not necessarily indicate true widths. Holes drilled at
approx. 320 degrees Az and dip of -60 degrees.
(ii)Cut value (using a top-cut of 50 g/t) TL11-135: 7.53 g/t over 16.60 m
including 12.45 g/t over 5.25 m. High-grade samples have been determined by
pulp metallic assay.
Currently there are two drill rigs operating on the project as
the Company completes a program of more than 20,000 metres of
drilling designed to increase and upgrade the current resource
estimate from largely inferred to the measured and indicated
categories. This program is due to finish in the second quarter of
this year, with an updated resource calculation planned for third
quarter of 2011. The new resource estimate will be used to form the
basis of a more complete mine feasibility study that is scheduled
for completion by the end of 2011.
Martin Walter, CEO of Treasury Metals commented, "The result of
drill hole TL11-135 is very exciting, especially given the amount
of visible gold observed by our team in Dryden. We have not seen
that in past drill core from this project. These results, coupled
with the results recently reported to date from the eastern area,
are indicative of a high-grade gold zone. We have yet to close off
this gold zone, suggesting there is still ample potential to build
ounces up-plunge and at depth in this area."
Technical information in this press release has been reviewed
and approved by Andrew Cheatle, P. Geo., Vice President,
Exploration of Treasury Metals, who is a qualified person under the
definitions established by National Instrument 43-101.
The Company has implemented a quality assurance and quality
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, and/or metallurgical
testing. Other QA/QC procedures include the insertion of blind
blanks and standards for every tenth sample in the sample stream.
Selected quarter core duplicates were assayed for 5% of the
samples. The laboratory re-assays 10% of all samples (pulps and
rejects) and additional checks are routinely run on anomalous
values including gravimetric analysis and pulp metallics. Gold
analysis is conducted by lead collection, fire assay with atomic
absorption and / or gravimetric finish on a 30 gram sample. Check
assays by a secondary lab are completed as necessary.
For additional information on Treasury Metals and a complete map
of drill holes, please visit the Company's website at
www.treasurymetals.com.
Forward-looking Statements
This release includes certain statements that may be deemed to
be "forward-looking statements". All statements in this release,
other than statements of historical facts, that address events or
developments that management of the Company expect, are
forward-looking statements. Actual results or developments may
differ materially from those in 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. Greg Ferron Vice President
Corporate Development 1.416.214.4654 greg@treasurymetals.com
Treasury Metals Inc. Martin Walter CEO 1.416.214.4654
martin@treasurymetals.com www.treasurymetals.com
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