TSX:TML
TORONTO, Jan. 22, 2014 /CNW/ - Treasury Metals Inc.
(TSX:TML) is pleased to announce the recommencement of drilling at
its flagship Goliath Gold Project located in northwestern
Ontario. The initial 10,000 metre
program consists of infill and expansion drilling of the Main and C
Zones, further delineation of the new high-grade zone discovered in
the C Zone and drilling of several targets on the recent Norman
property acquisition.
2014 Drilling Program Targets:
- Drilling includes a number of targets on the newly acquired
Norman property, which is adjacent to the current deposit (see
press release dated October 18,
2012). The property is contiguous to and located along
strike and downdip of the eastern end of the mineral resource at
Goliath. The Norman acquisition provides first-time access for
drilling of an additional 1.6 kilometres of potential deposit
strike length. The current resource is interpreted to project
towards the NE portion of this newly acquired property.
- Several EM targets across the Goliath property will be
evaluated by this drill program. The conductors were compiled and
ranked from a property-wide airborne EM survey flown in 2011.
- The program will also include drilling of the recently
discovered high-grade area in the C Zone. Previous
intersections in the area include the re-entry hole TL164-12RE
which returned values of 18.6 g/t Au over 5.2 metres (see press
release dated December 11, 2012 and
January 29, 2013 for further
details). This particular zone, encountered in the central area of
the deposit, was a result of extending previous drill holes by
approximately 30 to 50 metres past the Main Zone and through the C
Zone of the deposit. The new program will focus on further
delineation and expansion of the new zone.
- The company's infill and expansion drilling of both the Main
Zone and C Zone is focused on increasing the resource size and
upgrading current Inferred resources into the Indicated
category. The drill program will include:
-
- Final delineation of the open pit and infilling areas of
possible pit expansion
- Delineation of the newly discovered C Zone ore shoot including
the extension of previously drilled holes through the Main Zone
which were terminated short of the C Zone
- Infill of the Main Zone where required to finalize the
underground engineering plan for the feasibility study
The infill and expansion drill program combined
with the other drilling programs since October 2011 will form a new resource update
expected in 2014.
The Company will provide updates on the results
as they become available.
Technical information in this press release has
been reviewed and approved by Gerry Katchen
P. Geo, who is the Qualified Person for the Goliath Gold
Project under the definitions established by National Instrument
43-101.
A complete table of past assays can be found on
the Company's website.
To learn more about Treasury Metals, please
visit the Company's website at www.treasurymetals.com and please
view the Company's new corporate video.
Follow us on Twitter @TreasuryMetals
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.