Commodity-TV

The whole world of commodities in one App!

Watch Management & Expert Interviews, Site-Visit-Videos, News Shows and receive top and up to date Mining Information on your mobile device worldwide!

Download our unique App for free!
Commodity-TV Play Store
Commodity-TV App Store
Commodity-TV

Social Media


Goliath Expansion Drilling Intersects High Grade in C Zone East Program

Figure 1: Plan View, Drill Program Collar Location Map

Figure 2: Goliath Gold Project C Zone Longitudinal Section of the Developing East C Zone Shoot. The updated Main Zone Longitudinal Section is available on the website.

Receive up-to-date information about the company directly via push notification

TORONTO, March 5, 2020 – Treasury Metals Inc. (TSX: TML) (“Treasury” or the “Company” - https://www.commodity-tv.com/play/treasury-metals-good-reasons-for-a-re-rating/ ) is pleased to announce additional assay results from its expansion drilling in the Eastern C Zone and Infill drilling in the Main Zone at the Goliath Gold Project located in northwestern Ontario. The results demonstrate further delineation of the developing new C Zone East shoot approximately 200 metres from the easternmost Main Zone shoot. Drilling to date has intersected 7 holes above 10 g/t in an area now spanning 200 metres along strike by 150 metres down dip (see attached image). 
Exploration Highlights include:

  • C Zone East hole TL20-520 intersected 1.35 g/t over 14.7 m including 6.0 g/t Au over 2.0 m and approximately 15 m further down the hole 65.2 g/t Au over 3.0 m including 193 g/t over 1.0 m
  • TL20-522 intersected 2.26 g/t over 15.0 m including 6.48 g/t over 4.0 m in the Main Zone Measured Infill program
  • TL20-515 intersected 5.4 g/t Au over 4.0 m including 20.9 g/t Au over 1.0 m in the new Main Zone area along strike
  • TL19-513 intersected 2.0 g/t Au over 4.0 m
  • TL20-521 intersected 0.92 g/t Au over 26.0 m including 6.2 g/t Au over 1.0 m and 1.9 g/t Au over 4.0 m in the Main Zone Measured Infill program.

Eastern C Zone:
TL20-520 intersected 1.35 g/t over 14.7 m including6.0 g/t Au over 2.0 m and approximately 15 m further down the hole the high-grade intersection of 65.2g/t Au over 3.0 m including 193 g/t over 1.0 m from two distinct areas of mineralization both located within the C Zone. The high-grade intersection was associated with strong sericite and silica alteration and the presence of pyrite, sphalerite, galena which is analogous with the other high-grade shoots of the deposit. The highest sample was found within part of a fault zone which cut through the footwall contact of the C Zone. This contrasts to other areas of the deposit and will be investigated further.

The drilling program followed up on previously reported holes TL19-503 (January 2020) with 14.8 g/t Au over 7.0 m including 101.0 g/t over 1.0 m and TL18-494 (August 2018) with 25.2 g/t Au over 4.5 m including 111 g/t over 1.0 m

Holes TL20-513, TL20-515, TL20-518, TL20-520 have low-grade mineralization over long intervals between approximately 13.0 m and 16.0 m, respectively. 

Eastern Main Zone Along Strike:

Drilling continues to hit meaningful gold grades in a newly discovered area of mineralization along strike (see press release January 13, 2020). These intercepts are encountered while targeting the C Zone East and is located approximately 200 metres along strike from the Eastern Main Zone Shoot. The discovery intersection included a series of high-grade lenses (TL19-506: 14.6 g/t Au over 1.0 m, 11.8 g/t over 1.0 m, and 8.13 g/t over 1.0m). 

Additional Results Include:

  • TL19-515 intersected 5.4 g/t Au over 4.0 m including 20.9 g/t Au over 1.0 m
  • TL19-513 intersected 2.0 g/t Au over 4.0 m
  • TL19-511 intersected 1.0 g/t Au over 4.8 m

 

Next Steps:

The Company will be analysing these results along strike in relation to known mineralization within the Main Zone and establish drill targets for later testing.

The Eastern C Zone area has the potential to lead to new resources and increased production profile in the underground because of its close proximity to the Main Zone. The Company is presently reviewing the impact of the mine schedule and will establish additional drill targets.

The Company will report results from the Main Zone expansion drilling designed to extend the main zone shoots as they become available and is approximately 6,000 metres into the 15,000 metre program.  
Figure 1: Plan View, Drill Program Collar Location Map (click to enlarge).

 

Figure 2: Goliath Gold Project C Zone Longitudinal Section of the Developing East C Zone Shoot (click to enlarge). The updated Main Zone Longitudinal Section is available on the website.

 

                                                Table 1: Drill Hole Intercepts

Drill Hole

Target

Zone

From (m)

To (m)

Sample Length (m)

Grade g/t Au

TL19511

C

Main

363.70

368.50

4.80

0.98*

 

 

C

448.00

456.00

8.00

0.33

TL19513

C

HW

298.00

299.00

1.00

5.19*

 

 

Main

406.00

410.00

4.00

1.99*

 

 

C

502.00

515.00

13.00

0.38

TL20515

C

Main

348.00

352.00

4.00

5.38*

 

 

Including

348.00

349.00

1.00

20.9*

 

 

C

446.00

462.40

16.40

0.52

 

 

C

477.00

483.10

6.10

0.52

TL20518

C

HW

129.00

140.00

11.00

0.45

 

 

C

403.10

417.10

14.00

0.67*

 

 

Including

413.10

417.10

4.00

1.21*

 

 

C

432.70

438.20

5.50

0.70

TL20520

C

C

495.00

509.70

14.70

1.35

 

 

Including

507.00

508.00

1.00

10.70

 

 

C

522.50

527.50

5.00

39.28

 

 

Including

524.50

525.50

1.00

193.00

TL20521

Main

Main

205.0

231.0

26.00

0.92

 

 

Including

211.0

215.0

4.00

1.93

 

 

Including

222.0

223.0

1.00

6.21

TL20522

Main

Main

265.0

280.0

15.00

2.26

 

 

Including

267.0

271.0

4.00

6.48

 

 

Including

269.0

270.0

1.00

17.00

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.

Qualified Person
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.
To view further details about the Goliath Gold Project, please visit the Company’s website at www.treasurymetals.com.
Contact:

Greg Ferron
CEO and Director
T: 1.416.214.4654
[email protected]

Mark Wheeler
Director Projects, Goliath Gold Project
T: 1.416.214.4654
[email protected]

In Europe:
Swiss Resource Capital AG
Jochen Staiger
[email protected]
www.resource-capital.ch

 

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”.
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 1.0 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.

Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at [email protected] We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.

* indicates required
SRC Mining & Special Situations ZertifikatSRC Mining & Special Situations Zertifikat

Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at [email protected] We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.

* indicates required