Includes 7.5 metres of 3.82 g/t and 25 metres of 1.42 g/t
Gold
TSX: TML
TORONTO, May 22, 2013 /CNW/ - Treasury Metals Inc.
(TSX:TML) is pleased to report additional drilling results from the
Company's flagship Goliath Gold Project located in Northwestern Ontario. The results comprise
holes from the company's ongoing infill program that is focused on
converting the C Zone and near surface inferred resources into the
indicated category and three additional holes from the recently
completed hydrogeological drilling program, (TL13-315†,
TL13-317, and TL13-321) that passed through mineralized zones.
The Main Zone results reported today
include:
- near surface intersections of 7.5 metres at 3.82 g/t Au
from 36 metres depth in drill hole TL13-332;
- 25 metres at 1.42 g/t Au from 152 metres depth including
6 metres at 4.18 g/t Au in drill hole TL13-317;
- and 21 metres of 0.87 g.t Au from 24 metres to 45 metres
which includes 3.0 metres at 3.64 g/t Au in drill hole
TL13-331.
Holes TL13-332 and TL13-331 are significant due
to their near surface location within a sparsely drilled area
between the eastern and centre pits representing a potential
reduction of the overall waste to ore stripping ratios on the Main
Zone. TL13-317 is located on the eastern edge of the proposed open
pit and outside the current Indicated resource area. TL13-317 also
continued into a sparsely drilled area of the C Zone located
approximately 30 metres behind the Main mineralized Zone.
The C Zone results reported include
intersections of:
- 13.0 metres at 0.94 g/t Au from 70.5 metres in Hole
TL13-334;
- 8.5 metres at 1.52 g/t Au from 260 metres depth and
10.0 metres at 1.20 g/t Au from 288 metres in Hole
TL13-315†.
The C Zone program has focused primarily on
defining near surface resources since it commenced in late 2012. A
sparsely drilled area has been delineated measuring approximately
1.2 km in strike length. Holes reported today include TL13-315 and
TL13-334 that continue to define the second shoot being delineated
in the developing C Zone (see release dated January 29, 2013). The C Zone has the potential
to represent an increase in the current open pit minable resource
and a reduction of the overall waste to ore stripping ratios.
With recent completion of the current drilling
program, the company is performing a gap analysis to determine the
location of holes required to upgrade all ounces within the current
open pit design from inferred to the indicated category including
both the Main and C Zones. The scope and size of the Company's
final in-fill and expansion drill program will be determined from
the gap analysis. The final drilling program combined with the
other drilling programs since October
2011 will form a new resource update and will be used to
support the full feasibility study. In addition, the company
continues to focus on its Environmental Impact Statement scheduled
to be completed later this year.
Table of Drill Results: |
|
|
|
|
Drill Hole |
From (m) |
To (m) |
Zone |
*Interval
(m) |
Au
(g/t) |
TL13-315† |
260.0 |
268.5 |
C Zone |
8.5 |
1.52 |
TL13-315† |
288.0 |
298.0 |
C Zone |
10.0 |
1.20 |
TL 13-317 |
152.0 |
177.0 |
Main Zone |
25.0 |
1.42 |
Including |
|
|
|
6.0 |
4.18 |
TL13-317 |
270.4 |
276.0 |
C Zone |
5.6 |
1.40 |
TL13-321** |
99.0 |
114.8 |
Main Zone |
15.8 |
0.30 |
TL13-330 |
107.2 |
109.2 |
C Zone |
2.0 |
1.68 |
TL13-330 |
123.5 |
128.5 |
C Zone |
5.0 |
1.84 |
TL13-331 |
24.0 |
45.0 |
Main Zone |
21.0 |
0.87 |
Including |
|
|
|
3.0 |
3.64 |
TL13-331 |
120.5 |
126.0 |
C Zone |
5.5 |
0.59 |
TL13-332 |
36.0 |
43.5 |
Main Zone |
7.5 |
3.82 |
TL13-332 |
131.2 |
144.0 |
C Zone |
12.8 |
0.54 |
TL13-334 |
70.5 |
83.5 |
C Zone |
13.0 |
0.94 |
*Intervals do not necessarily indicate true widths.
See attached map for drillhole locations. All depths and assays
rounded to one decimal place. Typical sample interval approximately
1m; weighted averages use 0.3 g/t Au cut-off except for 'included'
higher grade sections. |
†Hole TL13-315 was drilled for Geotechnical purposes
at an azimuth of approximately 180°, or opposite to the typical
azimuth of exploration holes. |
** TL13-321 was drilled as part of the hydrogeological program
and was located outside of the proposed open pit approximately 200
metres to the west. |
Technical information in this press release has been reviewed
and approved by Mark Wheeler, P.
Eng., Senior Mining Engineer, who is a Qualified Person for the
Goliath Gold Project under the definitions established by National
Instrument 43-101.
To view further details about the Goliath Project, please visit
the Company's website at www.treasurymetals.com.
An updated C Zone and Main Zone long sections which highlight
approximate locations of these holes will be available on the
homepage and the attached links:
http://www.treasurymetals.com/mainzone-open-pit-2013.php
http://www.treasurymetals.com/czone-openpit-2013.php
Quality Assurance and Quality Control
The Company has 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.
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.