TSX: TML OTCQX:
TSRMF
TORONTO, March 27, 2018 /CNW/ - Treasury Metals
Inc. (TSX: TML) ("Treasury Metals" or the "Company") is
pleased to announce initial assay results from its active
15,000-meter infill exploration drilling program at the Company's
flagship Goliath Gold Project located in northwestern Ontario. The Company is currently exploring
and infill drilling in the Main Zone with two rigs. A drill hole
location plan map and longitudinal section are presented at the end
of this release.
![Figure 1: 2018 Infill Drill Program Collar Location Map (CNW Group/Treasury Metals Inc.) Figure 1: 2018 Infill Drill Program Collar Location Map (CNW Group/Treasury Metals Inc.)](https://mma.prnewswire.com/media/659168/Treasury_Metals_Inc__Treasury_Metals_Reports_Infill_Drilling_Res.jpg)
"We are pleased with the drilling progress at Goliath for a
number of reasons. The infill drill results have increased our
confidence in the overall resource potential and further support
our belief that gold continues at depth. In April, we will initiate
a step-out exploration program to the north-east along strike to
test for additional high-grade gold shoots. The company continues
to push ahead on all development fronts including the Federal
Environmental Assessment process, community and First Nations
dialogue, and a Pre-Feasibility Study," said Chris Stewart, Treasury's President and Chief
Executive Officer. "We expect 2018 to benefit from our
significant efforts over the past several years."
In addition to the on-going infill program, the Company will
commence an initial 5,000 meters of resource expansion/exploration
drilling in April which is focused on Treasury Metals'
high-priority East Resource Target area as follow-up to the
successful near surface drilling program that was completed last
summer. Gold mineralization was intersected in several drill holes
approximately 80 to 350 meters from the proposed open pit both near
surface and at depth (see press release dated October 2, 2017). The step out program will
be expanded along strike east of the open pit with a second rig
once the infill program is completed and as the program is further
developed.
Today's infill results are primarily in the lower extents
(400-600 meters) of the central and eastern shoots of the Main Zone
drilled from surface. The infill and expansion drilling is focused
on the outer edges of the known high-grade shoots and are
successfully converting inferred to indicated resources. The Main
Zone central shoot remains open at depth, as demonstrated in
TL17-460 and TL18-464, with the alteration and mineralized envelope
intersected at this depth.
Drilling Highlights
East Area:
- TL18-469: 5.04 g/t over 6 meters
- TL18-468: 1.41 g/t over 11.6 meters
Central Area:
- TL18-467A: 6.60 g/t over 4.2 meters
- TL17-422: 4.10 g/t over 5.0 meters including 18.20
g/t over 1.0 meters in the C Zone
- TL 17-422: 3.67 g/t over 4.0 meters
- TL18-464: 5.77 g/t over 3.0 meters
- TL17-460: 4.80 g/t over 3.0 meters
Table 1: Infill Drill Hole Intercepts
Drill
Hole
|
Target
|
Zone
|
From
(m)
|
To
(m)
|
Sample
Length
(m)
|
Grade g/t
Au
|
g/t
Ag
|
TL17421A
|
Main Zone
|
M1
|
698.00
|
703.00
|
5.00
|
1.67*
|
6.82
|
|
|
Including
|
701.00
|
703.00
|
2.00
|
2.31*
|
11.00
|
|
|
M2
|
713.00
|
715.00
|
2.00
|
1.77*
|
4.65
|
TL17422
|
C Zone
|
M1
|
348.00
|
352.00
|
4.00
|
3.67*
|
3.58
|
|
|
Including
|
348.00
|
350.00
|
2.00
|
6.48*
|
6.10
|
|
|
B1 Zone
|
392.00
|
395.00
|
3.00
|
2.38*
|
2.26
|
|
|
Including
|
392.00
|
392.90
|
0.90
|
7.13*
|
6.20
|
|
|
C1
|
429.00
|
433.00
|
4.00
|
2.44*
|
20.50
|
|
|
Including
|
431.00
|
433.00
|
2.00
|
4.58*
|
40.25
|
|
|
C2
|
457.00
|
462.00
|
5.00
|
4.10*
|
26.46
|
|
|
Including
|
459.00
|
460.00
|
1.00
|
18.20*
|
119.00
|
TL17460
|
Main Zone
|
HW
|
575.40
|
578.00
|
2.60
|
2.14*
|
14.50
|
|
|
M1
|
634.00
|
646.00
|
12.00
|
1.99*
|
3.63
|
|
|
including
|
643.00
|
646.00
|
3.00
|
4.80*
|
8.83
|
|
|
M2
|
663.00
|
667.00
|
4.00
|
1.89*
|
38.60
|
|
|
including
|
664.00
|
665.00
|
1.00
|
6.47*
|
80.10
|
TL17461
|
Main Zone
|
M1
|
595.00
|
602.00
|
7.00
|
1.78*
|
16.40
|
|
|
including
|
599.00
|
600.00
|
1.00
|
5.41*
|
42.50
|
|
|
M2
|
613.00
|
615.00
|
2.00
|
2.24
|
4.90
|
TL17462
|
Main Zone
|
M1
|
631.00
|
637.00
|
6.00
|
1.81*
|
7.10
|
|
|
including
|
633.00
|
637.00
|
4.00
|
2.35*
|
9.90
|
|
|
M2
|
663.00
|
664.50
|
1.50
|
1.23
|
8.87
|
TL17463
|
Main Zone
|
M1
|
583.00
|
585.00
|
2.00
|
1.09
|
3.85
|
TL18464
|
Main Zone
|
M1
|
626.00
|
629.00
|
3.00
|
5.77*
|
P
|
|
|
including
|
626.00
|
627.00
|
1.00
|
9.71*
|
P
|
|
|
M2
|
645.00
|
648.00
|
3.00
|
1.16*
|
P
|
TL18465
|
Main Zone
|
|
|
|
Hole
Abandoned
|
|
|
TL18466
|
Main Zone
|
M1
|
514.00
|
519.00
|
5.00
|
2.61*
|
P
|
|
|
including
|
518.00
|
519.00
|
1.00
|
10.10*
|
P
|
TL18467A
|
Main Zone
|
M1
|
531.60
|
533.60
|
2.00
|
1.26
|
P
|
|
|
M2
|
538.50
|
542.70
|
4.20
|
6.60
|
P
|
|
|
including
|
539.50
|
540.00
|
0.50
|
43.10
|
P
|
TL18468
|
Main Zone
|
Main
|
506.40
|
518.00
|
11.60
|
1.41*
|
P
|
|
|
including
|
508.50
|
511.20
|
2.70
|
2.59*
|
P
|
TL18469
|
Main Zone
|
Main
|
558.00
|
564.00
|
6.00
|
5.04
|
P
|
|
|
Including
|
559.00
|
560.00
|
1.00
|
23.40
|
P
|
For duplicate
samples, an average of the two gold assays are used to calculate
the intersection grade; all grades un-cut, no-capping
|
Holes are generally
drilled 350-0° Azimuth with inclinations ranging -65 to
-80°
|
All assays are
rounded to two decimal places
|
Intervals do not
indicate true widths
|
*Metallic Screen Fire
Assay Results
|
P – Assay results
pending
|
Full Table of Assays
will be provided on the company's website
|
The company has not used a Gold Equivalent (AuEq) for the
contained silver for this release but would expect the recovery of
silver to increase the overall contained AuEq by a small amount in
future studies.
The Company also completed surface geotechnical site
investigation across the property in Q1/2018 to ensure adequate
coverage for geotechnical and earthworks information that will be
included in the upcoming Feasibility study. More than 40 holes
were tested across the entire site including footprints for the
Waste Rock Storage, Tailings Facility and Processing
plant. The completion of this substantial program supports all
design work and garnered sufficient data to support the engineering
work through to completion of the Feasibility Study.
Figure 1: 2018 Infill Drill Program Collar Location Map
(Click here to enlarge)
Figure 2: Main Zone Long Section (Click here to
enlarge)
Qualified Persons
Technical information in this press release has been reviewed
and approved by Adam Larsen, P. Geo,
who is the qualified person under the definitions established by
National Instrument 43-101. All results from the program will be
available for viewing in the Complete Assay Table on the Company's
website.
To view further details about the Goliath Gold Project, please
visit the Company's website at www.treasurymetals.com.
Follow us on Twitter @TreasuryMetals
About Treasury Metals Inc.
Treasury Metals Inc. is a gold focused exploration and
development company with assets in Canada and is listed on the Toronto Stock
Exchange ("TSX") under the symbol "TML" and on the OTCQX® Best
Market under the symbol TSRMF. Treasury Metals Inc.'s 100% owned
Goliath Gold Project in northwestern Ontario is slated to become one of
Canada's next producing gold
mines. With first-rate infrastructure currently in place and gold
mineralization extending to surface, Treasury Metals plans on the
initial development of an open pit gold mine to feed a 2,500 per
day processing plant with subsequent underground operations in the
latter years of the mine life.
QA/QC Program:
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 dispatched to Actlabs
facility located in Dryden,
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 blanks and Canadian Reference
Standards for every tenth sample in the sample stream. A quarter
core duplicate is assayed every 20th sample. The
laboratory has its own QA/QC protocols running standards and blanks
with duplicate samples in each batch stream. Additional
checks are routinely run on anomalous values including gravimetric
analysis and pulp metallic screen fire assays. Gold analysis is
conducted by lead collection, fire assay with atomic absorption
and/or gravimetric finish on a 50 gram sample. Check assays are
conducted at a secondary ISO certified laboratory (in this case
AGAT Laboratories located in Mississauga,
Ontario). Metallic screen fire assaying is now
completed using a 2.0 kg sample and four 50 gm fire assays of the
pass (-100 mesh) pulverized material.
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.