CORRECTION: Treasury Metals Reports High-Grade Results at Depth in the Eastern Zone and in the Developing Western Target at t...
26 Agosto 2011 - 10:12PM
Marketwired Canada
This document corrects and replaces the press release that was sent on August
26, 2011 at 12:07 PM ET. For Drill Hole TL11-199, the incl row was omitted in
the original version. The complete and corrected releases follows.
Treasury Metals Inc. ("Treasury Metals" or the "Company") (TSX:TML) is pleased
to announce additional drill results from the Goliath Gold Project. Treasury
Metals is currently drilling two zones located one kilometre along strike from
each other. The Eastern high-grade Zone has been the focus of the current
drilling campaign but results from the Western Zone are increasingly promising
and will become a significant focus in future. Cumulative drilling in the
current campaign is approaching 50,000 metres - up from an initially announced
20,000 metres and all of these results along with data from a previous program
completed in late 2010 will be incorporated into a revised resource calculation
expected to be released to the market in Q4/2011.
Results are reported in the table below from both zones with the best result in
the Eastern Zone being 6.4 m @ 8.1 g/t (including 4.4 m @ 11.6 g/t) in hole
TL11-199. The latest results are located near the eastern boundary of the
resource and also represent some of the deepest drilling to date at the Goliath
Gold Project. Drilling continues with two rigs and a significant backlog of
assays remain to be processed and released ahead of the aforementioned resource
update. Results are pending for the next 25 drill holes, including a number of
additional holes in the developing Western Zone.
In addition, encouraging drilling results are reported from the Western Zone at
the Goliath Gold Project, located one kilometre along strike from the eastern
high-grade zone with the best result being 13.4 m @ 3.1 g/t (including 3.7 m @
6.2 g/t) in hole TL11-200. The Western Target is an area that has had far less
drilling compared with the Main Zone. The Western Zone has the potential to add
additional ounces to the overall resource. Both the Eastern and Western zones
remain open to depth.
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Drill Hole From (m) To (m) (i)Interval (m) Au (g/t) Comments
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TL11-186A 411.4 421.7 10.3 1.2 Main Zone
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incl 415.4 419.1 3.7 2.2
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TL11-189 242.9 244.9 2.0 2.3 West Zone
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TL11-191 348.5 351.8 3.3 2.4 Main Zone
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TL11-192 330.3 331.3 1.0 3.6 West Zone
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TL11-193 282.1 292.6 10.5 2.9 Main Zone
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incl 286.1 288.7 2.6 8.2
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TL11-194A 549.6 563.1 13.5 2.3 Main Zone
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incl 549.6 553.2 3.6 4.4
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TL11-196 349.7 355.5 5.8 2.0 West Zone
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TL11-198 464.4 467.6 3.2 2.3 Main Zone
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TL11-199(ii) 528.0 534.4 6.4 8.1 Main Zone
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incl 528.0 532.4 4.4 11.6
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TL11-200 279.7 293.1 13.4 3.1 West Zone
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incl 279.7 284.4 3.7 6.2
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(i)Intervals do not necessarily indicate true widths. Holes drilled at
approx. 320 degrees Az and dip of -60 degrees. All depths and assays
rounded to one decimal place.
(ii)The composite sample result is calculated using pulp-metallic assays for
the high grade samples identified from the original fire assays.
Martin Walter, President and CEO, commented, "These higher grade results, from
some of the deepest holes drilled to date, continue to demonstrate the
significance and tenor of the East Zone high-grade shoot that Treasury Metals
has been defining this year. I have also been encouraged by the continuing
presence of visible gold recorded from within this zone which now shows very
persistent vertical continuity to a depth of 500 metres - an elevation where
many of the mines in northwestern Ontario just begin to demonstrate high-grade
characteristics."
Technical information in this press release has been reviewed and approved by
Andrew Cheatle, P. Geo., Vice President of Exploration at 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 sample 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.
To learn more about 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.
Grafico Azioni Treasury Metals (TSX:TML)
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