|April 03, 2013|
Treasury Metals Reports Additional Near Surface Results - Includes 17 m @ 1.8 g/t, 20 m @ 1.1 g/t and 35.3 m @ 1.0 g/t
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:
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
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.
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