TSX:TML
TORONTO, Oct. 29, 2012 /CNW/ - Treasury Metals Inc. has
recommenced its 2012 drilling program at its 100% owned Goliath
Gold Project, situated near the community of Wabigoon and 20 kilometres east of the
City of Dryden, Ontario.
Focus of the 2012 Q4 Exploration Program
Includes:
- Primary focus is infill and expansion drilling in the central
and western portion of the current resource area, designed to
increase the resource size and upgrade Inferred resources into the
Indicated category
- The program will also include drilling of a number of
prospective targets on a newly acquired property (see press
release dated October 18, 2012)
that is adjacent to the current deposit. This new property is
contiguous to, and located along strike of the eastern end of the
mineral resource at Goliath and its recent acquisition provides
first-time access for drilling to an additional 1.6 kilometres of
potential deposit strike length. In addition, recent drilling
results along the eastern end of the resource, where a new
mineralized shoot was identified in previous drilling (see press
release dated August 22, 2012),
is interpreted to project towards the northeast section of this
newly acquired property which has the potential to add additional
ounces to the overall resource. Further, previous drilling has
identified a number of high-grade gold mineralized intersections
along its northern boundary.
- The final component of the program will test a select number of
prospective targets along the eastern margin of the current
resource area where recent drilling has demonstrated attractive
high-grade intercepts in a horizon interpreted to lie in the
footwall to the C Zone.
The program has commenced on the central west
portion of the resource area. Initial assay results will be
released in batches similar to the dissemination of results from
the 2011 program.
The Company will resume drilling with the
services of Distinctive Drilling Services Inc. Distinctive
completed the Company's 50,000 metres of in-fill and expansion
drilling in 2011 and 1st phase of the 2012 exploration
program focused outside of the current mineral resource area
totaling 16,000 metres.
Treasury has also recently commenced a drilling
program at its 100% owned Goldcliff Project, located approximately
40 kilometres south-southeast of the City
of Dryden, Northwestern
Ontario in the Kenora Mining District (see release dated
October 15, 2012). The new
exploration program at Goldcliff has been designed to test a number
of drill targets.
Technical information in this press release has
been reviewed and approved by Mr. John J.
Chulick, a consulting geologist registered in the
State of California, who is the
Qualified Person for the Goliath Gold Project under the definitions
established by National Instrument 43-101.
To learn more about Treasury Metals, 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.
SOURCE Treasury Metals Inc.