TRU
Precious
Metals
Commences
1,200
Metre Phase
One Drill
Program
at
its
100%
Owned
Twilite
Gold Project
Fredericton,
New Brunswick – June
1,
2021
-- InvestorsHub NewsWire -- TRU
Precious Metals Corp. (TSXV:TRU;
OTCQB:TRUIF;
FSE:706)
("TRU" or the "Company") is
pleased to announce that
it has commenced a
minimum
1,200-metre
drill program at its 100%
owned
Twilite Gold Project ("Twilite Gold") in the Central Newfoundland
Gold Belt. The drill
target
was previously
identified
by TRU during
a
detailed
ground geophysical
survey in
November of 2020, as
announced
on
December
8,
2020.
Twilite Gold is strategically located on the mapped extension of
the
Cape Ray-Valentine
Lake Shear Zone.
Numerous advanced-stage gold exploration projects are currently
underway along this district-scale shear zone, including Marathon
Gold's multi-million-ounce
deposit at Valentine Lake, and Matador Mining's Cape Ray deposit.
Twilite Gold is also located only 15 kilometres south of Grand
Falls-Windsor, a town of approximately 15,000 which is the service
and supply centre for central Newfoundland. Twilite Gold is easily
accessible with an all-weather gravel road leading directly to the
prospect.
The drilling program is contracted to Logan Drilling
Limited,
based in
Stewiack, Nova
Scotia,
who
has supplied a Duralite 1000 drill
and experienced drill crew
for this program.
The Twilite
Gold
Project
was tested by 15 shallow drill holes in 1999 and
only
three holes were on the current target.
All three boreholes intersected gold mineralization, as described
more fully below.
Barry Greene, VP of Property Development and Director of
TRU,
commented: "I have been eagerly anticipating the opportunity to
commence drilling on TRU's 100% owned Twilite
Gold
Project.
This is TRU's inaugural drilling program as a company and marks a
significant milestone in our rapid development. The Twilite
Gold
drill target is compelling with shallow gold already intersected in
drill core from the last drilling on the project over 20 years ago.
With such an expansive mineralized structure having only three near
surface historic boreholes to date, the drill target is wide
open."
The drill program will consist of six NQ boreholes situated along a
deep seated, multi kilometer, west-northwest trending mineralized
structure. The drilling will focus on an approximately 300m strike
length section of this structure near the intersection with a
northeast trending mineralized structure that is also auriferous in
historic drilling. The target mineralized structure appears as a
prominent and deep-seated feature on geophysical 3D modeling images
and will be drill tested to a maximum depth of approximately
350
m
below surface.
Geologically,
the gold mineralization
on this structure has been
found
near
the contact between
stockwork
quartz veined and sheared graphitic metasediments and
sericitized,
silicified and locally clay altered
mafic volcanics.
The volcanics
and sediments
are pervasively altered
by iron carbonate
and
the volcanics
contain fuchsite locally.
Gold is associated with
quartz veining and silicification containing sulphide
mineralization, which predominantly consists of pyrite and
arsenopyrite.
Polished thin section examination identified fine grained
copper-lead-antimony sulfosalts in association with pyrite and
arsenopyrite. The presence of sulfosalt minerals is considered
significant in that these often exhibit a close spatial association
with bonanza grade gold mineralization.
Figure
1: Twilite Gold Proposed Drilling Plan View
TRU Co-Founder and CEO Joel Freudman
added:
"We
are
delighted
to
finally start
drilling
the geophysical
target
we previously identified at Twilite Gold.
We are
very
fortunate that
Barry, who
has been involved
with this property
over the years,
has carefully planned this initial program with TRU's technical and
exploration
team.
We are hopeful that this
targeted round of drilling
will prove a critical starting point to help us unearth the value
that we believe exists at Twilite Gold."
As
previously disclosed on December 8,
2020, the
Company combined the results of a high-resolution,
detailed
ground magnetic survey
around known historical gold occurrences at Twilite Gold
with
other historical data to develop this drill target.
The
structurally
controlled gold mineralization near the Spring Pit
showing
within
the Twilite Gold Project correlates directly
with a prominent magnetic
low that continues to depth (Figure 2). The modeling also
indicates that the magnetic low associated with the mineralized
structure continues in a northwesterly direction for at least 600
metres
(m)
to the
limit of the current magnetic survey.
The
mineralized structure was intersected by three shallow diamond
drill holes in a 1999 drilling program by Fort Knox Gold Resources,
and all such holes contained gold mineralization. Notably, drill
hole TH-99-10 intersected 8.41m @ 3.28 grams per tonne
(g/t)
gold at
the top of the structure. The deepest hole to date on this
structure intersected 13.3m @ 1.02 g/t gold.
Figure
2:
Twilite Gold Cross-Section
TRU has not verified the historical assay results contained in this
press release and is not relying on them as current mineral
resources or mineral reserves.
Note that drill hole results are select samples and are not
necessarily representative of mineralization on Twilite
Gold.
Readers are cautioned that these potential grades are conceptual in
nature; there has been insufficient exploration by the Company or
its qualified person at Twilite
Gold
to define a mineral resource or mineral reserve; and it is
uncertain whether further exploration will result in these targets
being delineated as a mineral resource or mineral
reserve.
Barry
Greene, P.Geo. (NL)
is a
qualified person as defined by National Instrument 43-101 and has
reviewed and approved the contents and technical disclosures in
this press release. Mr. Greene is a director and officer of the
Company and owns securities of the Company.
About
TRU
Precious Metals Corp.
TRU has assembled a
portfolio of 5 gold exploration properties in the highly
prospective Central Newfoundland Gold Belt. The Company has
an
option
with a subsidiary of TSX-listed Altius Minerals Corporation to
purchase 100% of the Golden Rose Project, located along the
deposit-bearing Cape Ray – Valentine Lake Shear Zone. TRU also owns
100% of the Twilite Gold Project, located along the same Shear
Zone, and 3 under-explored properties including its Rolling Pond
Property (under option) bordering New Found
Gold
Corp.'s high-grade Queensway Project. TRU's common shares trade on
the TSX Venture Exchange under the symbol "TRU", on the OTCQB Venture
Market under the symbol "TRUIF", and on the Frankfurt
exchange under the symbol "706".
TRU is a portfolio
company of Resurgent Capital Corp. ("Resurgent"), a merchant bank
providing venture capital markets advisory services and proprietary
financing. Resurgent works with promising public and pre-public
micro-capitalization Canadian companies. For more information on
Resurgent and its portfolio companies, please visit Resurgent's
LinkedIn profile at
https://ca.linkedin.com/company/resurgent-capital-corp.
For
further information about
TRU, please
contact:
Joel
Freudman
Co-Founder, President
& CEO
TRU
Precious Metals Corp.
Phone:
1-855-760-2TRU
(2878)
Email:
info@trupreciousmetals.com
Website:
www.trupreciousmetals.com
To
connect with TRU via social media, below are links:
Facebook
https://www.facebook.com/TRU-Precious-Metals-Corp-100919195193616
Twitter
https://twitter.com/corp_tru
LinkedIn
https://www.linkedin.com/company/tru-precious-metals-corp
YouTube
https://www.youtube.com/channel/UCHghHMDQaYgS1rDHiZIeLUg/
Cautionary
Statements
Neither
TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
This
press release contains certain forward-looking statements,
including those relating to exploration
and the
drill program at
Twilite
Gold. These statements
are based on numerous assumptions regarding Twilite Gold
and
the Company's
drilling
plans
that are
believed by management to be reasonable in the circumstances, and
are subject to a number of risks and uncertainties, including
without limitation: mineralization hosted on adjacent and/or nearby
properties is not necessarily indicative of mineralization hosted
on Twilite
Gold; the exploration
potential of Twilite Gold
and the
nature and style of mineralization at Twilite
Gold; risks inherent in
mineral exploration activities and operational
problems relating to drilling; volatility in
precious metals prices; and those other risks described in the
Company's continuous disclosure documents. Actual results may
differ materially from results contemplated by the forward-looking
statements herein. Investors and others should carefully consider
the foregoing factors and should not place undue reliance on such
forward-looking statements. The Company does not undertake to
update any forward-looking statements herein except as required by
applicable securities laws.
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