TSX:TML
TORONTO, Nov. 20, 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 5,000 metre
program consists of definition drilling of the main resource area,
exploration of the new shallow high-grade zone discovered late
during Phase I and, drilling of several regional targets within the
Goliath claims. As results are received, additional metres may be
added, thereby extending the drill program.
2014 Phase II Drilling Program Targets:
- Several EM conductors overlying with MMI soil anomalies across
the Goliath property will be evaluated by this drill program. EM
conductors were compiled and ranked from a property-wide airborne
EM survey flown in 2011, soil program and target evaluation was
completed in Oct. 2014
- The program will also include drilling of the recently
discovered shallow high-grade area. Previous intersections in the
area include Hole TL14-367, drilled approximately 400m west
of the main resource. Hole 367 was targeting base metal trends,
intersected 12.8m at 2.71 g/t, across the interpreted
Main Zone stratigraphy at a vertical depth of 52 meters (See
Press Release Aug 5, 2014).
The area remains open in all directions, where to the west, Hole
TL14-369 encountered 5m at 1.32g/t and to the east where TL09-066
intersected 8.5m at 1.41g/t, including 3.75m at 2.65g/t at a
vertical depth of 25m (See Press Release Jan. 13, 2010). The area remains a high
priority for Phase II drilling, in an effort to discover and
delineate shallow, open pit-able resources.
- The company's infill definition drilling of both the Main Zone
and C Zone is focused on upgrading current Inferred resources into
the Indicated category and possible expansion. The drill
program will include:
- Final delineation of the open pit and infilling areas of
possible pit expansion
- Delineation of the newly modelled Hanging wall and Footwall
Zones
- Infill of the Main and C Zone where required to finalize the
underground engineering plan for the feasibility study
- Final infill program required to finalize Updated Resource
estimate for inclusion in the upcoming feasibility study
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 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.
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.