TSX:TML
TORONTO, Jan. 8, 2015 /CNW/ - Treasury Metals Inc.
(TSX: TML) is pleased to announce initial results from the late
2014 Phase II drilling program at its 100% owned Goliath Gold
Project located near the city of Dryden in northwestern Ontario.
Treasury's current drilling program is focusing on resource
category conversion and expansion of the Main and C zone
mineralization. This program will enable Treasury to finalize the
underground engineering plans for the future feasibility study as
well as delineate the final open pit outline. The infill program is
initially focused on the Western Area of the Main Zone which
remains the least drilled of all zones at the Goliath Gold Project.
Drilling to date has returned significant grades over mineable
widths at drill spacings of roughly 30m, with more drilling to
follow.
Highlights from the initial Phase II program include drilling
several specks of visible gold on Hole TL14-374, returning
2m at 199.75g/t. TL14-374 was drilled approximately 41m down
plunge of previous highlight hole TL11-204A which intercepted 6.0m
at 22.3g/t (See Press Release August 30,
2011).
Other highlights from the Western Main Zone include hole
TL14-375 which intersected 4.87g/t over 3.5m through
a Hanging Wall zone and 3.81/t over 8.0m through the Main
Zone. TL14-372 returned an interval of 4.5m at
3.86g/t through the Main Zone.
Hole
ID
|
Section
|
Area
|
From
|
To
|
* Intercept
(m)
|
Au
(g/t)
|
TL14-372
|
13+50W
|
Western
Main
|
267
|
271.5
|
4.5
|
3.86
|
TL14-374**
|
13+25W
|
Western
Main
|
234.5
|
236.5
|
2.0
|
199.75
|
TL14-375
|
12+75W
|
Hanging
Wall
|
133
|
136.5
|
3.5
|
4.87
|
|
|
Western
Main
|
185
|
193
|
8.0
|
3.81
|
Holes are generally drilled 350-360°Az with inclinations ranging
-55 to -70°.
All assays are rounded to two decimal places.
*Intervals do not necessarily indicate true widths.
** Cut Value for TL14-374 (using a top cut of 50g/t) = 2.0m @
26.05g/t
Full Table of Assays can be found on the company's website.
Further planned follow-up drilling in the Western Zone will be
focused on adding additional indicated ounces to the underground
resource. Following the Western Area program exploration will focus
on:
- Follow up of newly developing zone discovered earlier during
the Phase I drill program. Highlight intercepts include TL14-367
(12.8m at 2.71g/t) at 52m vertical depth and, at a vertical
depth of 58m, hole TL14-369 encountered 5.0m at 1.32g/t (See
Press Release Aug 5, 2014).
- Regionally, across the Goliath property, several EM conductors
with overlying MMI soil anomalies are to be drill tested.
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.