TSX:TML
TORONTO, May 27, 2015 /CNW/ - Treasury Metals Inc.
(TSX: TML) is pleased to announce the remainder of the results from
its infill sampling program of existing drill core and its bottle
roll testing program on the Company's 100% owned Goliath Gold
Project located near the city of Dryden in northwestern Ontario.
To further evaluate the gold potential of the B Zone and other
zones throughout the main deposit, the Company initiated and has
completed an infill sampling program of existing drill core not
previously assayed. This program covered untested areas of either
extensions or potential new zones of previously un-sampled drill
core. A total of 2,090 new split core samples were collected from
95 drill holes. The program was successful in identifying new
gold mineralization in half (56) of the 110 new target zones that
were identified for inspection. A near surface hole and a newly
tested Hanging Wall zone both reported significant results: Hole
TL10-116 returned 6.08 g/t Au over 6.0 m at a vertical depth of 17
m from surface and TL08-53 returned 4.53 g/t Au over a sample
length of 5.0 m at a depth of 160 m.
Further, a section of D Zone mineralization in Hole TL11-210
contained visible gold and returned 7.15 g/t Au over 1.0 m.
Four holes that intersected the B Zone returned gold assays ranging
from 2.25 to 3.11 g/t Au over sample lengths from 1.0 to 2.0 m (see
Table below). The sampling program, along with other B Zone
intersections from the most recent Phase 2 program, will allow
Treasury to construct a new Longitudinal Section of the B Zone
across the strike length of the deposit and potentially identifying
targets for future drill programs. A second B Zone,
designated "B2" located between the B and C Zones, returned 3.04
g/t Au over 2.0 m. Gold mineralization with significant gold assays
were also obtained from Main Zone and C Zone intersections as
well.
In addition, the Company is reporting results from a successful
bottle roll testing program that was undertaken to determine if
this analytical method might recover more gold and increase
potential gold ounces at the Goliath Gold Project. A total of 374
reject samples were selected from nineteen holes drilled between
2013 and 2015 for 1,000 gm bottle roll testing. All samples
contained original gold concentrations less than 5.0 g/t Au and
were dispatched to Accurassay and Actlabs for analyses. Overall,
58% (228 samples) of the samples experienced a gain in gold in the
range of 0 to 3.26 g/t Au over average sample lengths of 1.10
m. As an example, Hole TL14-375's original Main Zone
intersection increased from 2.04 g/t Au to 3.15 g/t Au over a
sample length of 5.0 m. The C Zone intersected near surface
by Hole TL13-305 with an original grade of 0.52 g/t Au increased to
1.89 g/t Au over a sample length of 2.6 m. Losses in gold
might be related to possible inhomogeneous effects where gold might
still be retained in the bottle roll residue which is currently
being investigated.
Two holes drilled to test a gold Mobile Metal Ion ("MMI")
Anomaly P located in iron formation northeast of the Goliath Gold
Deposit did not return any significant gold assays.
With Treasury's 2014/2015 Phase 2 drilling program now
completed, these results will be used to form a new NI 43-101
compliant resource estimate. This program focused on resource
category conversion and on expanding the Main and C Zone
mineralization. The primary objective has been on further
developing the C Zone, the Western shoots at depth in areas that
have not been previously drill tested and locations west of the
main proposed pit (see press release date April 15, 2015 for these results west of main
proposed pit).
Results have been tabulated below and a full table of assays can
be found on the company's website.
Technical information in this press release has been reviewed
and approved by Paul Dunbar, P. Geo,
who is the qualified person under the definitions established by
National Instrument 43-101.
Hole
No.
|
Section
|
Zone
|
From
(m)
|
To
(m)
|
Length
(m)
|
Au
(g/t)
|
Infill
Program:
|
|
|
|
|
|
|
TL10-116
|
527825E
|
HW1 Zone
|
14.00
|
20.00
|
6.00*
|
6.08
|
TL08-53
|
527325E
|
HW3 Zone
|
177.00
|
182.00
|
5.00
|
4.53
|
TL13-301
|
528300E
|
D Zone, Visible
Gold
|
105.00
|
106.00
|
1.00
|
7.15
|
TL11-184
|
527225E
|
B2 Zone
|
203.00
|
205.00
|
2.00
|
3.04
|
TL11-210
|
527700E
|
B Zone
|
359.00
|
361.00
|
2.00
|
3.11
|
TL14-358
|
528000E
|
Main FW
Zone
|
180.00
|
183.00
|
3.00
|
2.29
|
TL11-206A
|
527225E
|
Main HW
Zone
|
410.00
|
412.03
|
2.00
|
2.49
|
TL12-278
|
527600E
|
B Zone
|
306.00
|
307.00
|
1.00
|
2.81
|
TL12-283
|
527325E
|
B Zone
|
433.00
|
434.00
|
1.00
|
2.52
|
TL15-385B
|
527675E
|
B Zone
|
375.00
|
377.00
|
2.00
|
2.25
|
TL11-206A
|
527225E
|
Main HW
Zone
|
410.00
|
412.03
|
2.03
|
2.49
|
TL11-128
|
528150E
|
C1 HW Zone
|
443.00
|
444.00
|
1.00
|
1.90
|
Bottle Roll
Program:
|
|
|
|
|
|
|
TL14-375
|
527485E
|
Main HW
Zone
|
184.00
|
199.50
|
15.50
|
2.54
|
including
|
|
|
184.00
|
189.00
|
5.00
|
3.15
|
TL15-380
|
527425E
|
Main Zone
|
268.00
|
288.50
|
20.50
|
2.09
|
TL15-382
|
527625E
|
C2 FW Zone
|
227.00
|
230.00
|
3.00
|
2.43
|
TL15-387
|
527550E
|
C1 HW Zone
|
258.00
|
261.00
|
3.00
|
1.89
|
|
|
C2 FW Zone
|
275.50
|
277.00
|
1.50
|
2.03
|
TL15-392
|
528150E
|
C1 HW Zone
|
185.00
|
187.50
|
2.50
|
2.11
|
|
|
C2 FW Zone
|
193.00
|
195.00
|
2.00
|
1.81
|
TL13-305
|
528050E
|
C Zone
|
26.37
|
29.00
|
2.60
|
1.89
|
TL15-384
|
527700E
|
Main FW
Zone
|
92.00
|
97.00
|
5.00
|
1.75
|
TL13-313
|
527600E
|
HW3 Zone
|
70.00
|
73.00
|
3.00
|
1.73
|
(*) - Fault/Shear Zone, Core Recovery = 66%
Holes are generally drilled 350-360°Azmuith with inclinations
ranging -55 to -70°.
All assays are rounded to two decimal places.
HW = Hanging Wall; FW = Footwall
Intervals do not necessarily indicate true widths
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 Canadian
standards for every tenth sample in the sample stream. Selected
quarter core duplicates are assayed every 20 samples. The
laboratory re-assays 10% of all samples (pulps and rejects) and
additional checks are routinely run on anomalous values including
both gravimetric analysis and metallic screen fire assaying
methods. Gold analysis is conducted by lead collection, fire assay
with atomic absorption and/or gravimetric finish on a 30 gram
sample (recently changed to 50 gm). A total of 5% of the
sample pulps will be dispatched to a secondary assay laboratory for
assay verification.
To learn more about Treasury Metals, please visit the Company's
website at www.treasurymetals.com.
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.