TSX:TML
TORONTO, May 5, 2014 /CNW/ - Treasury Metals Inc. (TSX:
TML) is pleased to announce new results from the ongoing drilling
and development program at the Goliath Gold Project located in
northwestern Ontario.
Treasury's current exploration program is focused on 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 extend limits
of known mineralization.
The Company is on track to submit the Goliath Gold Project's
Environmental Impact Statement to the Canadian Environmental
Assessment Agency in Q3 2014.
Highlights of the latest drill results include:
Holes TL14-349 and 350 delivered intercepts that
currently rest outside the proposed C Zone western pit shell.
TL14-350 encountered 6.7 m at 5.39 g/t at a vertical
depth of 60 metres from surface and TL14-349 intercepted
9.3 m at 2.2 g/t, approximately 30 metres below TL14-350.
Both results continue to potentially add new open pit ounces.
An exploration hole located in a sparsely drilled area outside
the indicated boundary of the developing western area of the C
Zone, Hole TL14-346A intersected 6.4 m at 4.32 g/t.
The Company has reported a number of encouraging
intercepts within this developing high-grade area of the C Zone.
The C Zone remains a high priority exploration target that
continues to remain open to the west and down plunge.
Highlights also include: TL14-353 which intersected
12.25 m at 4.05 g/t including 6.0 m at 6.51 g/t in
the Hanging Wall of the current Main Zone, followed by an
intersection of 3.25 m at 2.69 g/t in the foot wall.
TL14-353 is a delineation hole located in the Main Zone central
domain, occurring roughly 200 m down from surface. The Hanging Wall
and Foot Wall intersections continue to deliver solid grades while
increasing confidence in the proposed underground stopes.
Presently, the Company is completing Geotechnical core drilling
for the mine design which will be followed by additional in-fill
and expansion drilling in the C Zone and Main Zone. Exploration
modelling and targeting also continues along the Goliath Gold
Project's mineralized domain trending east-west.
Hole
ID
|
Section
|
Area
|
From
|
To
|
*
Intercept
(m)
|
Au
(g/t)
|
TL14-346A
|
L11+00W
|
C Zone
Expl.
|
290
|
295
|
5.00
|
2.70
|
TL14-346A
|
L11+00W
|
Including
|
293
|
294
|
1.00
|
12.53
|
TL14-346A
|
L11+00W
|
C Zone
Expl.
|
317
|
323.4
|
6.40
|
4.32
|
TL14-346A
|
L11+00W
|
Including
|
319.4
|
320.4
|
1.00
|
27.23
|
TL14-347
|
L12+75W
|
C Zone Pit
|
36.95
|
44.45
|
7.50
|
0.88
|
TL14-347
|
L13+00W
|
C Zone Pit
|
78.5
|
81.45
|
2.95
|
3.08
|
TL14-348
|
L12+75W
|
C Zone Pit
|
76.43
|
80.81
|
4.38
|
0.77
|
TL14-349
|
L11+25W
|
C Zone Pit
|
48.5
|
50.65
|
2.15
|
2.78
|
TL14-349
|
L11+25W
|
C Zone
Pit
|
112.7
|
122
|
9.30
|
2.20
|
TL14-350
|
L11+25W
|
C Zone Pit
|
46.2
|
53.7
|
7.50
|
0.30
|
TL14-350
|
L11+25W
|
C Zone
Pit
|
79.33
|
86
|
6.67
|
5.39
|
TL14-350
|
L11+25W
|
Including
|
81.33
|
82.33
|
1.00
|
28.41
|
TL14-351
|
L8+25W
|
Main Zone
Del.
|
416
|
431.4
|
15.40
|
2.42
|
TL14-351
|
L8+25W
|
Including
|
426
|
431.4
|
5.40
|
5.00
|
TL14-352A
|
L9+00W
|
Main Zone
Del.
|
404
|
408.25
|
4.25
|
4.32
|
TL14-352A
|
L9+00W
|
Including
|
407.25
|
408.25
|
1.00
|
16.62
|
TL14-353
|
L8+25W
|
Main Zone
Del.
|
234
|
246.25
|
12.25
|
4.05
|
TL14-353
|
L8+25W
|
Including
|
234
|
240
|
6.00
|
6.51
|
TL14-353
|
L8+25W
|
|
243
|
246.25
|
3.25
|
2.69
|
Holes are generally
drilled at 360°Az with inclinations ranging -45 to -66°. TL14-347
was drilled at 320Az.
All assays are rounded to two decimal places.
*Intervals do not necessarily indicate true widths.
|
Full Table of Assays 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.
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.