|August 30, 2011|
Treasury Metals Reports 6.0 m @ 22.3 g/t Au from Developing Western Zone at the Goliath Gold Project
TORONTO, ONTARIO--(Aug. 30, 2011) - Treasury Metals Inc. ("Treasury Metals" or the "Company") (TSX:TML) is pleased to announce an additional significant drilling result from the Goliath Gold Project in northwestern Ontario.
Results are reported in the table below from the Western Zone with the best result being 6.0 m @ 22.3 g/t Au in hole TL11-204A.This additional drilling result is located one kilometre along strike from the eastern high-grade zone. The Western Zone is a developing area which has had far less drilling than the Main Zone of the Goliath Gold Deposit and drilling to date has demonstrated the potential to add additional ounces to the overall resource. Both the Western Zone and the Eastern Zone remain open at depth. Results are pending for the next 25 drill holes.
** Cut value for TL11-204A (using a top cut of 50g/t) = 6.0m @ 9.6 g/t
Treasury Metals is currently drilling two zones located one kilometre along strike from each other. The Eastern high-grade Zone has been the focus of the current drilling campaign but recent results from the Western Zone are increasingly promising and will become a significant focus in future. Cumulative drilling in the current campaign is approaching 50,000 metres - up from an initially announced 20,000 metres and all of these results along with data from a previous program completed in late 2010 will be incorporated into a revised resource calculation expected to be released to the market in Q4/2011.
Technical information in this press release has been reviewed and approved by Andrew Cheatle, P. Geo., Vice President of Exploration at Treasury Metals, who is a qualified person under the definitions established by National Instrument 43-101.
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 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.
To learn more about Treasury Metals and a complete map of drill holes, please visit the Company's website at www.treasurymetals.com.
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.
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