|May 22, 2013|
Treasury Metals Reports Near Surface Drilling Results
Includes 7.5 metres of 3.82 g/t and 25 metres of 1.42 g/t Gold
TORONTO, May 22, 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 results comprise holes from the company's ongoing infill program that is focused on converting the C Zone and near surface inferred resources into the indicated category and three additional holes from the recently completed hydrogeological drilling program, (TL13-315†, TL13-317, and TL13-321) that passed through mineralized zones.
The Main Zone results reported today include:
Holes TL13-332 and TL13-331 are significant due to their near surface location within a sparsely drilled area between the eastern and centre pits representing a potential reduction of the overall waste to ore stripping ratios on the Main Zone. TL13-317 is located on the eastern edge of the proposed open pit and outside the current Indicated resource area. TL13-317 also continued into a sparsely drilled area of the C Zone located approximately 30 metres behind the Main mineralized Zone.
The C Zone results reported include intersections of:
The C Zone program has focused primarily on defining near surface resources since it commenced in late 2012. A sparsely drilled area has been delineated measuring approximately 1.2 km in strike length. Holes reported today include TL13-315 and TL13-334 that continue to define the second shoot being delineated in the developing C Zone (see release dated January 29, 2013). The C Zone has the potential to represent an increase in the current open pit minable resource and a reduction of the overall waste to ore stripping ratios.
With recent completion of the current drilling program, the company is performing a gap analysis to determine the location of holes required to upgrade all ounces within the current open pit design from inferred to the indicated category including both the Main and C Zones. The scope and size of the Company's final in-fill and expansion drill program will be determined from the gap analysis. The final drilling program combined with the other drilling programs since October 2011 will form a new resource update and will be used to support the full feasibility study. In addition, the company continues to focus on its Environmental Impact Statement scheduled to be completed later this year.
Table of Drill Results:
†Hole TL13-315 was drilled for Geotechnical purposes at an azimuth of approximately 180°, or opposite to the typical azimuth of exploration holes.
** TL13-321 was drilled as part of the hydrogeological program and was located outside of the proposed open pit approximately 200 metres to the west.
Technical information in this press release has been reviewed and approved by Mark Wheeler, P. Eng., Senior Mining Engineer, who is 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, please visit the Company's website at www.treasurymetals.com.
An updated C Zone and Main Zone long sections which highlight approximate locations of these holes will be available on the homepage and the attached links:
Quality Assurance and Quality Control
SOURCE: Treasury Metals Inc.
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