TSX:TML
TORONTO, April 8, 2014 /CNW/ - Treasury Metals Inc.
("Treasury Metals" or the "Company") (TSX: TML) is pleased to
announce new drilling results from the Goliath Gold Project located
in northwestern Ontario. In
January 2014, the Company commenced a
drilling campaign and these holes represent the initial results
from the ongoing program. Initial drilling has been focused on the
developing C Zone which included exploration targets at depth and
in-fill drilling on the western portion near surface. The C Zone
remains open down plunge at
depth.
Highlights of the drill holes to date include:
Hole TL0855-14W2 is a step-out exploration
hole that intersected 5.75m @ 3.64g/t, 36m west of previous
C Zone hole TL164-12RE (5.2m @ 18.6g/t; See Press Release
Dec. 11, 2012). Part of the
2012 drill program's focus was to re-enter and extend drill holes
to evaluate the C Zone, where these original holes were initially
terminated by a previous operator after the Main Zone. The 2012
drill program led to discovery of new high grade zones in the
developing C Zone.
Highlights also include: TL14-341 which intersected
0.5m @ 57.95 g/t in the Main Zone, followed by an
intersection of 3.0m @ 6.27 g/t in the C Zone. This
intersection extends the current mineralization of the C Zone
domain further west.
Hole TL14-343 intersected 3.0m @ 4.32 g/t along
the upper contact of the western portion of the C Zone within the
proposed open pit shell.
Results reported in the table below also include an intercept
located in the central west area of the Main Zone, returning values
of 4.35 m @ 5.19 g/t from hole TL14-345. This hole
represents an extension of the underground area of the Main Zone
central area.
The Company continues to explore the developing C Zone horizon
both near surface and at depth. The Company has also commenced a
delineation program of the Main Zone to tighten grades of proposed
underground stopes and also extend limits of known
mineralization.
Exploration modeling and targeting continues along the Goliath
project's mineralized domain trending East-West. Regionally,
several high value EM axis and Mag targets have yet to be fully
evaluated. The Company plans to further define these targets
utilizing a soil sampling program that will be implemented later in
2014. Treasury will utilize the results of the soil surveys across
the site to develop and rank the targets for a future drilling
program across the full extent of the Goliath property.
Hole
ID
|
Area
|
Zone
|
From
|
To
|
* Intercept
(m)
|
Au
(g/t)
|
Comments
|
TL14337
|
Norman
North
|
EM Target
|
443
|
445.5
|
2.50
|
1.45
|
EM Axis explained by
sulphidic Fe-Formation 118.25->119.45m
|
TL14339
|
C Zone Pit
|
C HW
|
18
|
22
|
4.00
|
0.84
|
|
TL14339
|
C Zone Pit
|
D
|
54.2
|
59.3
|
5.10
|
1.05
|
|
TL14340
|
C Zone Pit
|
C HW
|
48.5
|
52.5
|
4.00
|
1.63
|
|
TL14340
|
C Zone Pit
|
C FW
|
83.25
|
88.75
|
5.50
|
1.85
|
|
**TL14341
|
C Zone
Exploration
|
Main
|
294.4
|
294.9
|
0.50
|
57.95
|
VG noted in
core
|
**TL14341
|
C Zone
Exploration
|
C
FW
|
431
|
434
|
3.00
|
6.27
|
|
TL14342
|
C Zone Pit
|
C FW
|
26.95
|
31.95
|
5.00
|
1.19
|
|
TL14342
|
C Zone Pit
|
D
|
100.5
|
104.75
|
4.25
|
0.44
|
|
**TL14343
|
C Zone
Pit
|
C
HW
|
16.3
|
19.3
|
3.00
|
4.32
|
|
TL14343
|
C Zone Pit
|
C HW
|
26
|
33
|
7.00
|
0.70
|
|
TL14343
|
C Zone Pit
|
D
|
60.25
|
62.6
|
2.35
|
1.10
|
|
**TL14345
|
Main Zone
Delineation
|
Main
|
345
|
353.35
|
8.35
|
2.94
|
|
|
|
incl.
|
349
|
353.35
|
4.35
|
5.19
|
|
**TL0855-14RE
|
C Zone
Exploration
|
C
|
571.55
|
579.6
|
8.05
|
1.81
|
|
TL0855-14RE
|
|
incl.
|
577.6
|
579.6
|
2.00
|
3.67
|
|
TL0855W2b
|
C Zone
Exploration
|
C HW
|
530
|
535
|
5.00
|
1.23
|
|
**TL0855W2b
|
C Zone
Exploration
|
C
FW
|
561.5
|
567.25
|
5.75
|
3.64
|
VG noted in
core
|
|
|
incl.
|
565.5
|
567.25
|
1.75
|
9.44
|
|
*Intervals do not necessarily indicate true
widths. Holes drilled at approx. 360°Az and dips ranging -50 to
-63°. All assays are rounded to two decimal places. No significant
results are reported for hole TL14338.
**The composite sample result is calculated using pulp-metallic
assays for the high grade samples identified from the original fire
assays. On average, original fire assays returned Au values
20% higher
Full Table of Assays can be found on the Company's website.
A long section of the Main Zone and C Zone incorporating the
holes from the program can be found on the Company's website.
Technical information in this press release has been reviewed
and approved by Gerry Katchen, P.
Geo, who is the 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, 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.