TRU Reports
High-Grade Gold Channel Sampling Results from Mark's Pond Trench
at
Golden Rose
Project, Including 57.6 g/t Au over 2.5 m, 34 g/t Au over 2 m &
23.5 g/t Au over 2 m
Toronto,
Ontario – January 12, 2023 -- InvestorsHub NewsWire -- TRU Precious
Metals Corp. (TSXV:TRU; OTCQB:TRUIF) ("TRU" or the "Company") is pleased to
report high grade channel sampling results from a recent trenching
program conducted on TRU's claims under option from Quadro
Resources Ltd. at TRU's Golden Rose Project ("Golden Rose'') in
Central Newfoundland (Figure
1). The
channel sampling program was completed on the Mark's Pond target
located along the deposit-bearing Cape Ray-Valentine Lake Shear
Zone, where the Company recently announced results of a grab
sampling program that indicated high-grade gold potential (refer to
TRU news release dated November 23, 2022).
TRU
collected a total of 159 channel samples within the recently
excavated 275 m long trench, including 85 samples
within
a 23 m long easterly extension at the southern end of the
trench along
strike of a visible gold-bearing volcaniclastic and graphitic shear
zone. This newly discovered high-grade gold zone has been named the
"Northcott Gold Zone" to recognize the significant discoveries made
by prospector Ed Northcott in this area.
Highlights
-
The
Northcott Gold
Zone is a significant gold discovery for TRU
within a newly
uncovered brittle-ductile shear zone located 130 m northwest of the
Mark's Pond Gold Zone. This 2 to 3 m wide northeast trending shear
zone contains abundant visible gold within quartz-carbonate veins
and the surrounding wall rock.
-
Significant channel
sample gold results from the Northcott Gold Zone include
(Figure
2 and
Table
1):
-
57.6 g/t
Au over 2.5 m
including 141 g/t
Au over 1.0
m
-
34.0 g/t
Au over 2.0 m
including 65.4 g/t
Au over 1.0
m
-
23.5 g/t
Au over 2.0 m
including 90 g/t
Au over 0.5
m
-
Channel samples in
the Northcott Gold Zone were collected at 0.5 to 1 m intervals
within 14 transects along a 23 m long northeast strike-line. A full
QAQC program was implemented, and the majority of the channel
samples underwent total pulp metallics analysis due to fire assay
results returning >1 g/t Au.
-
The Northcott Gold
Zone remains open along strike to the southwest and northeast. TRU
plans to extend the trench further in both directions and complete
detailed structural mapping of the entire trench and additional
channel sampling in spring 2023 prior to drilling this
zone.
Paul Ténière, TRU's
Vice President - Exploration commented, "This is a
very exciting time for TRU, and these excellent gold assay results
from our recent channel sampling program help confirm our belief
that the newly discovered Northcott Gold Zone is part of a larger
scale, gold-endowed structural corridor located within the Mark's
Pond target area, and potentially extending to the Rich House
target 4 km to the northeast. The Northcott Gold Zone is not far
from the high-grade Mark's Pond Gold Zone, and we anticipate
further gold discoveries along strike and to the northwest. The
Mark's Pond – Rich House targets will be considered a high priority
for our 2023 exploration program at Golden Rose including
additional trenching, channel sampling, and
drilling."
Figure 1: Golden Rose Project Location and Ownership Map
Figure 2: Channel sampling assay results from Mark's Pond
trench
Table 1: Mark's Pond channel sample assay composite
summary
|
Channel Sample
Line
|
From
(m)
|
To
(m)
|
Width
(m)
|
Au
(g/t)
|
|
L-3W
|
0.00
|
1.50
|
1.50
|
5.9
|
|
Including
|
1.00
|
1.50
|
0.50
|
10.1
|
|
L-2W
|
0.00
|
2.00
|
2.00
|
23.5
|
|
Including
|
1.00
|
1.50
|
0.50
|
90.0
|
|
L-1W
|
2.80
|
4.80
|
2.00
|
10.4
|
|
Including
|
2.80
|
3.30
|
0.50
|
37.1
|
|
L-0
|
1.50
|
4.00
|
2.50
|
57.6
|
|
Including
|
2.00
|
3.00
|
1.00
|
141.0
|
|
L-1E
|
1.00
|
3.00
|
2.00
|
34.0
|
|
Including
|
1.00
|
2.00
|
1.00
|
65.4
|
|
L-2E
|
0.50
|
2.50
|
2.00
|
8.0
|
|
Including
|
1.00
|
1.50
|
0.50
|
29.4
|
|
L-3E
|
0.50
|
1.50
|
1.00
|
0.8
|
|
L-4E
|
1.00
|
1.50
|
0.50
|
5.4
|
|
L-5E
|
0.50
|
1.00
|
0.50
|
0.6
|
|
L-6E
|
No Significant
Values
|
|
L-7E
|
1.00
|
1.50
|
0.50
|
11.1
|
|
L-8E
|
1.00
|
1.50
|
0.50
|
4.7
|
|
L-9E
|
0.50
|
2.00
|
1.50
|
17.8
|
|
Including
|
0.50
|
1.00
|
0.50
|
46.7
|
|
L-10E
|
0.00
|
0.50
|
0.50
|
2.0
|
Notes:
(1)
Refer to Figure 2 for channel sample locations.
(2)
Assay composite results incorporate both fire assay and metallic
screening analysis results.
(3)
Numbers have been rounded.
(4)
True width of Northcott Gold Zone is currently unknown.
Technical
Summary
The
trench at Mark's Pond is located approximately 130 m northwest of
the historically drilled Mark's Pond Gold Zone. During TRU's fall
exploration program, this historical trench was re-opened and
extended to the north to test a second, multiple line,
east-west
trending historical gold-in soil anomaly that
had not been previously trenched or drilled. A high-resolution
drone (UAV) imagery survey was completed by Insite Surveys of
Burgeo, NL over the entire trench also capturing the channel
sampling locations in precise detail. The drone imagery has been
georeferenced for structural mapping purposes and to precisely
locate the channel samples for geological modelling purposes
(Figure 2).
The
channel sampling program included the insertion of QAQC materials
(certified reference materials, blanks, and field duplicates) at
regular intervals by TRU geologists, and the samples were sent to
Eastern Analytical Ltd. ("Eastern Analytical") in Springdale, NL
for fire assay and ICP multi-element geochemistry analyses. Any
channel samples returning a fire assay result greater than 1 g/t Au
triggered a total pulp metallics analysis (metallic screening) of
the sample to mitigate the presence of the nugget effect of coarse
gold and to better characterize the coarse- and fine-grained gold
fractions within these prominent gold bearing units. Complete fire
assay and metallic screen analysis results for the channel samples
collected in the Northcott Gold Zone are shown in
Table 2. True
width of the Northcott Gold Zone is unknown at this time. However,
the rock units are subvertical indicating sampled widths are likely
close to true width and this will be confirmed in future drilling
programs.
The
channel sample assay results indicate that the structurally-complex
graphitic zone with stockwork quartz-carbonate veins containing
visible gold within the Northcott Gold Zone tends to pinch and
swell along strike, with high-grade widths ranging between <1 to
2.5 m (Figure
2).
Associated wall-rock alteration includes carbonatization and
sericitization typical within orogenic gold deposits with steeply
dipping brittle-ductile shear zones hosting native gold.
A total of 74 channel
samples were collected at several exposed bedrock locations along
the rest of the trench, northwest of the Northcott Gold Zone, but
returned no significant gold assay values. However, field crews
were unable to complete channel sampling of the entire length of
the trench due to the rapid onset of winter conditions. In spring
2023, TRU plans to channel sample all remaining low-lying (ponded)
areas within the trench that may contain gold similar to that
discovered in the southeastern part of the
trench.
As
noted earlier, gold mineralization remains open to the southwest
and northeast of the current trench limit. TRU plans to extend the
southern part of the trench in both directions in spring and summer
2023 and complete channel sampling within these extensions and to
the northwest in areas of the trench that remain unsampled. In
addition, a detailed structural mapping program will be undertaken
in the trench to characterize the veins, collect structural
measurements, and understand any structural controls on gold
mineralization in the Mark's Pond target area.
Sampling, QAQC, and Analytical Procedures
All
channel samples were cut using portable saws with diamond blades
and cleaned thoroughly with fresh water prior to insertion into
sample bags by TRU field staff. This trench and sample cleaning
process was implemented to eliminate the possibility of sample
contamination by overburden (soil and till). The exact location of
the channel sample line was taken using a handheld GPS unit and
indicated on a hand drawn trench map, and field notes were taken on
lithology, structure, and mineralization. The exact locations of
the channel samples were later correlated and georeferenced with
the high precision drone survey imagery. The channel samples were
securely transported by TRU field staff to Eastern Analytical, a
commercial laboratory that is ISO/IEC 17025 accredited and
independent of TRU. Eastern Analytical pulverized 1,000 grams of
each sample to 95% < 89 µm. Samples are analyzed using fire
assay (30g) with AA finish and an ICP-34, four acid digestion
followed by ICP-OES analysis. All samples with visible gold or
assaying above 1.00 g/t Au were further assayed using
total
pulp metallic analysis (metallic screening) to mitigate the
presence of the nugget effect of coarse gold.
Eastern
Analytical total pulp metallic sieve procedure: Crush entire sample
to approximately 80% (-10 mesh). Total sample is pulverized to
approximately 95% (-150 mesh) in 200-300g portions. Sieve all
pulverized material through 150 mesh screen. The total (+150 mesh)
fraction is all fire assayed as one sample and the weight recorded.
The entire (-150 mesh) fraction is rolled to homogenize and stored
in a plastic bag. The entire weight of the (-150 mesh) fraction is
recorded. A 30g sample is fire assayed from the (-150 mesh)
portion. The two fire assay results (+150 and -150 mesh) are
calculated (with the total weight of the sample to provide a
weighted average of the sample) and the weighted average Au result
is reported.
The TRU exploration
programs are designed to be consistent with mining industry best
practices and the programs are supervised by Qualified Persons
employing a full QAQC program consistent with requirements under
the CIM Mineral Exploration Best Practice Guidelines (2018) and
National Instrument 43-101 ("NI 43-101").
Table 2: Complete fire assay and metallic screening analysis
results for the Northcott Gold Zone
|
Sample
ID
|
Width
(m)
|
Channel
Line
|
Au
(ppb)
|
+150 Mesh wt
(g)
|
Au
(ppb)
|
-150 Mesh wt
(g)
|
Total wt
(g)
|
Weighted
Average
(ppb)
|
Au
(g/t)
|
|
D00380329
|
1.0
|
L-3W
|
56,867
|
25.68
|
3,700
|
10,733.32
|
10,759
|
3,826.90
|
3.83
|
|
D00380330
|
0.5
|
L-3W
|
3,197,272
|
1.21
|
8,773
|
2,902.79
|
2,904
|
10,101.54
|
10.10
|
|
D00380331
|
1.0
|
L-2W
|
12,433
|
25.61
|
661
|
6,911.39
|
6,937
|
704.46
|
0.70
|
|
D00380332
|
0.5
|
L-2W
|
1,556,247
|
41.29
|
74,059
|
3,792.71
|
3,834
|
90,021.32
|
90.02
|
|
D00380333
|
0.5
|
L-2W
|
34,126
|
71.38
|
3,347
|
4,015.62
|
4,087
|
3,884.56
|
3.88
|
|
D00380326
|
0.5
|
L-1W
|
185,648
|
67.12
|
34,092
|
3,371.88
|
3,439
|
37,050.00
|
37.05
|
|
D00380327
|
1.0
|
L-1W
|
26,879
|
49.90
|
1,608
|
4,921.10
|
4,971
|
1,862.00
|
1.86
|
|
D00380328
|
0.5
|
L-1W
|
|
0.90
|
|
D00380337
|
0.5
|
L-0
|
34,225
|
51.41
|
4,954
|
3,453.59
|
3,505
|
5,383.34
|
5.38
|
|
D00380338
|
1.0
|
L-0
|
3,317,524
|
66.04
|
92,604
|
4,335.96
|
4,402
|
140,985.13
|
140.99
|
|
D00380339
|
0.5
|
L-0
|
|
0.03
|
|
D00380340
|
0.5
|
L-0
|
|
0.50
|
|
D00380349
|
0.5
|
L-1E
|
863,588
|
66.65
|
52,918
|
4,319.35
|
4,386
|
65,237.00
|
65.24
|
|
D00380350
|
0.5
|
L-1E
|
1,852,542
|
24.00
|
56,390
|
4,647.00
|
4,671
|
65,618.78
|
65.62
|
|
D00380351
|
0.5
|
L-1E
|
|
0.50
|
|
D00380352
|
0.5
|
L-1E
|
174,207
|
19.23
|
3,864
|
5,104.77
|
5,124
|
4,503.28
|
4.50
|
|
D00380358
|
0.5
|
L-2E
|
|
0.90
|
|
D00380359
|
0.5
|
L-2E
|
104,777
|
26.47
|
28,845
|
3,543.53
|
3,570
|
29,408.00
|
29.41
|
|
D00380360
|
0.5
|
L-2E
|
|
0.02
|
|
D00380361
|
0.5
|
L-2E
|
5,759
|
31.22
|
1,456
|
4,171.78
|
4,203
|
1,487.96
|
1.49
|
|
D00380366
|
0.5
|
L-3E
|
|
0.50
|
|
D00380367
|
0.5
|
L-3E
|
1,013
|
20.86
|
1,180
|
3,826.14
|
3,847
|
1,179.09
|
1.18
|
|
D00380372
|
0.5
|
L-4E
|
37,737
|
10.07
|
5,302
|
2,628.93
|
2,639
|
5,425.77
|
5.43
|
|
D00380379
|
0.5
|
L-5E
|
|
0.60
|
|
D00380384
|
1.0
|
L-6E
|
|
0.02
|
|
D00380391
|
0.5
|
L-7E
|
30,029
|
25.48
|
11,047
|
6,166.52
|
6,192
|
11,125.11
|
11.13
|
|
D00380395
|
0.5
|
L-8E
|
1,786
|
68.87
|
4,783
|
1,993.13
|
2,062
|
4,682.90
|
4.68
|
|
D00380401
|
0.5
|
L-9E
|
973,054
|
28.39
|
41,505
|
5,091.61
|
5,120
|
46,670.37
|
46.67
|
|
D00380402
|
0.5
|
L-9E
|
42,360
|
34.65
|
3,719
|
4,082.35
|
4,117
|
4,044.22
|
4.04
|
|
D00380403
|
0.5
|
L-9E
|
12,639
|
39.58
|
2,514
|
3,479.42
|
3,519
|
2,627.88
|
2.63
|
Note: Both fire assay and metallic screening analysis results are
shown. True widths unknown at this time.
Cautionary
Statements
Readers are cautioned
that descriptions of mineralization and the channel sample assay
results reported in this news release are preliminary and/or
early-stage results. While these results are considered
encouraging, there is no guarantee that they indicate significant
mineralization will be intersected in future drilling programs
completed by the Company.
Qualified Person Statement and Data Verification
The scientific and
technical information disclosed in this news release has been
prepared and approved by Paul Ténière, M.Sc., P.Geo., Vice
President of Exploration for TRU, and a Qualified Person as defined
in NI 43-101.
Mr. Ténière has
verified all scientific and technical data disclosed in this news
release including the channel sampling and QAQC results, and
certified analytical data underlying the technical information
disclosed. Mr. Ténière noted no errors or omissions during the data
verification process and TRU's Exploration Manager has also
verified the information disclosed. The Company and Mr. Ténière do
not recognize any factors of sampling or recovery that could
materially affect the accuracy or reliability of the assay data
disclosed in this news release.
About TRU
Precious Metals Corp.
TRU (TSXV:TRU;
OTCQB:TRUIF) is on a mission to build long-term shareholder value,
through prudent natural resource property development and
transactions. TRU is exploring for gold and copper in the highly
prospective Central Newfoundland Gold Belt on its 100%-owned Golden
Rose Project, originally optioned from TSX-listed Altius Minerals.
Golden Rose is a regional-scale 236 km2
land package,
including a recently discovered 20 km district-scale structure, and
an additional 45 km of strike length along the deposit-bearing Cape
Ray - Valentine Lake Shear Zone, directly between Marathon Gold's
Valentine Gold Project and Matador Mining's Cape Ray Gold Project.
In addition, TRU has an option to acquire up to an aggregate 65%
ownership interest in two claim packages covering 33.25
km2
including a 12 km
strike length along the Shear Zone within Golden Rose.
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 companies listing on Canadian stock exchanges.
For more information on Resurgent and its portfolio companies,
please visit Resurgent's website at
https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn
at
https://ca.linkedin.com/company/resurgent-capital-corp.
For further
information about TRU, please contact:
Joel
Freudman
Co-Founder &
CEO
TRU Precious Metals
Corp.
Phone: 1-855-760-2TRU
(2878)
Email:
ir@trupreciousmetals.com
To connect with TRU
via social media, below are links:
Twitter:
https://twitter.com/corp_tru
LinkedIn: https://www.linkedin.com/company/tru-precious-metals-corp
YouTube:
https://www.youtube.com/channel/UCHghHMDQaYgS1rDHiZIeLUg/
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.
Acknowledgement
TRU
would like to thank the Government of Newfoundland and Labrador for
its past financial support through the Junior Exploration
Assistance Program.
Forward-Looking
Statements
This press
release contains certain forward-looking statements, including
those relating to exploration plans and mineralization potential at
Golden Rose. These statements are based on numerous assumptions
regarding Golden Rose and the Company's drilling and exploration
programs and results 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 Golden Rose; the
exploration potential of Golden Rose and the nature and style of
mineralization at Golden Rose; risks inherent in mineral
exploration activities; 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.