|February 28, 2013|
Treasury Metals Continues to Define Near Surface Mineralization in Developing C Zone at Goliath including 22 metres of 1.4 g/t Gold
TORONTO, Feb. 28, 2013 /CNW/ - Treasury Metals Inc. is reporting additional drilling results from the C Zone of the Company's flagship Goliath Gold Project located in northwestern Ontario. The C Zone mineralisation is located approximately 30 to 50 metres behind the Project's Main Zone of mineralization. Recent drilling has led to the discovery of multiple new mineralized areas either by extending previous operators drill hole depths past the Project's Main Zone or by new drilling. The recent results represent the first gold intersections that are coming together to form several ore shoots within the project's sparsely drilled C Zone.
The results reported today include near surface intersections of 22 metres at 1.4 g/t Au from 60 metres depth in drill hole TL13-306, 20 metres at 1.0 g/t Au from 26 metres depth in drill hole TL13-305 and 14 metres at 1.3 g/t Au from 114.7 metres depth in re-entry Hole TL223-13RE. Drilling continues to delineate the Project's C Zone which covers an area measuring approximately 1.2 km in strike length and the program is focused primarily on defining near surface resources.
The recent results in the C Zone are significant as they occur near surface and could represent an increase to the current open pit mine shells and the mineable ounces within them. These C Zone results have potential to reduce the overall waste to ore stripping ratios, especially in the Eastern section of the deposit.
Since the program commenced in late 2012, Treasury has re-interpreted the geology and concluded that certain drill holes completed by the previous operator need to be extended in length or re-drilled in order to thoroughly test the project's mineralisation in the C Zone. This program of extending drill hole depths and other related drilling (reported since December 11, 2012) has led to several new mineralised zones, including the above reported drill hole intercept in TL223RE and 17.1 metres at 5.9 g/t Au in earlier reported drill hole TL-164RE.
Table of C Zone Drill Results:
*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 and Mark Wheeler, P. Eng., Senior Mining Engineer, who are both Qualified Persons 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, please visit the Company's website atwww.treasurymetals.com.
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SOURCE: Treasury Metals Inc.
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