TSX: TML
TORONTO,
April 3, 2013 /CNW/ - Treasury Metals
Inc. (TSX:TML) is pleased to report additional drilling results
from the Company's flagship Goliath Gold Project located in
Northwestern Ontario. The company
has continued its infill drilling of the proposed open pit and
delineation of its recently discovered gold shoot within the
Footwall C Zone. The C Zone gold mineralisation typically ranges
from 30 - 60 metres parallel to and to the north of the Project's
Main Zone of mineralization.
In addition, Treasury Metals has started the
process of re-drilling and resampling historical holes with a focus
on holes within the proposed open pit. Past exploration by previous
operators often focused on delineating higher grade underground
mineralization rather than wide zones of open pit mineable material
and sampling of shorter intersection widths within near surface
drill holes had occurred. As a result, Treasury Metals has expanded
the extent of near surface mineralization such as that intersected
in drill hole TL13-324 which twinned the historic Teck hole TL-4.
Drill hole TL 13-324 returned a C Zone interval of 17 m at 1.8 g/t
including 6.5 m at 3.5 g/t, an obvious upgrade from the earlier
documented interval of 1.0 m at 0.74 g/t noted by the previous
operator.
Martin Walter,
President and Chief Executive Officer of Treasury Metals, comments:
"In this successful exploration program, having commenced in
October 2012, we have been able to
trace wide, lower grade intervals to surface which stand to upgrade
the economics of the proposed open pit from an ore and stripping
ratio perspective, including both the C and Main Zones of the
project. The company anticipates completing the open pit
infill program by mid-2013."
Table of Drill Results:
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Drill
Hole |
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From
(m) |
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To
(m) |
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Zone |
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*Interval
(m) |
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Au
(g/t) |
TL13-316 |
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|
157.5 |
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|
159.0 |
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|
B Zone |
|
1.5 |
|
25.5 |
TL13-316 |
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|
201.0 |
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|
210.5 |
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|
C Zone |
|
9.5 |
|
1.8 |
TL13-316 |
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|
230.0 |
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|
242.0 |
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|
C Zone |
|
12.0 |
|
0.4 |
TL13-318 |
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46.5 |
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52.4 |
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|
B Zone |
|
5.9 |
|
0.8 |
TL13-318 |
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|
72.0 |
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|
83.5 |
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|
C Zone |
|
11.5 |
|
1.4 |
TL13-319 |
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40.0 |
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47.5 |
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Main Zone |
|
7.5 |
|
1.1 |
TL13-319 |
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|
105.5 |
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115.5 |
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C Zone |
|
10.0 |
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1.1 |
TL13-322 |
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84.3 |
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89.6 |
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|
C Zone |
|
5.3 |
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1.0 |
TL13-322 |
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95.0 |
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99.5 |
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C Zone |
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4.5 |
|
1.6 |
TL13-324 |
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31.0 |
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51.0 |
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Main Zone |
|
20.0 |
|
1.1 |
TL13-324 |
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|
62.0 |
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|
69.0 |
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|
B Zone |
|
7.0 |
|
1.5 |
TL13-324 |
|
|
140.5 |
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|
157.5 |
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|
C Zone |
|
17.0 |
|
1.8 |
including |
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6.5 |
|
3.5 |
TL13-325 |
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16.5 |
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17.5 |
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|
Main Zone |
|
1.0 |
|
25.1 |
TL13-325 |
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|
141.0 |
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|
160.5 |
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C Zone |
|
19.5 |
|
1.0 |
TL13-326 |
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|
55.0 |
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|
69.4 |
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Main
Zone |
|
14.4 |
|
1.6 |
including |
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6.0 |
|
2.2 |
TL13-326 |
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|
143.5 |
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178.8 |
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C Zone |
|
35.3 |
|
1.0 |
TL13-327 |
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|
55.5 |
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73.6 |
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C Zone |
|
18.1 |
|
0.4 |
TL13-328 |
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|
63.5 |
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65.5 |
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C
Zone |
|
2.0 |
|
9.9 |
*Intervals do not necessarily indicate true widths.
See attached map for drillhole locations. All depths and assays
rounded to one decimal place. Typical sample interval
approximately 1m; weighted averages use 0.3 g/t Au cut-off except
for 'included' higher grade sections. |
Technical information in this press release has
been reviewed and approved by Mr. John J.
Chulick, a consulting geologist registered in the
State of California, a Qualified
Person for the Goliath Gold Project under the definitions
established by National Instrument 43-101.
To view further details about the Goliath
Project, an updated C Zone and Main Zone long section reflecting
the above noted holes, please visit the Company's website at
www.treasurymetals.com.
Quality Assurance and Quality Control
The Company has 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.
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.