|April 08, 2014|
Treasury Metals Reports High-Grade Results on the Goliath Gold Project
TORONTO, April 8, 2014 /CNW/ - Treasury Metals Inc. ("Treasury Metals" or the "Company") (TSX: TML) is pleased to announce new drilling results from the Goliath Gold Project located in northwestern Ontario. In January 2014, the Company commenced a drilling campaign and these holes represent the initial results from the ongoing program. Initial drilling has been focused on the developing C Zone which included exploration targets at depth and in-fill drilling on the western portion near surface. The C Zone remains open down plunge at depth.
Highlights of the drill holes to date include:
Hole TL0855-14W2 is a step-out exploration hole that intersected 5.75m @ 3.64g/t, 36m west of previous C Zone hole TL164-12RE (5.2m @ 18.6g/t; See Press Release Dec. 11, 2012). Part of the 2012 drill program's focus was to re-enter and extend drill holes to evaluate the C Zone, where these original holes were initially terminated by a previous operator after the Main Zone. The 2012 drill program led to discovery of new high grade zones in the developing C Zone.
Highlights also include: TL14-341 which intersected 0.5m @ 57.95 g/t in the Main Zone, followed by an intersection of 3.0m @ 6.27 g/t in the C Zone. This intersection extends the current mineralization of the C Zone domain further west.
Hole TL14-343 intersected 3.0m @ 4.32 g/t along the upper contact of the western portion of the C Zone within the proposed open pit shell.
Results reported in the table below also include an intercept located in the central west area of the Main Zone, returning values of 4.35 m @ 5.19 g/t from hole TL14-345. This hole represents an extension of the underground area of the Main Zone central area.
The Company continues to explore the developing C Zone horizon both near surface and at depth. The Company has also commenced a delineation program of the Main Zone to tighten grades of proposed underground stopes and also extend limits of known mineralization.
Exploration modeling and targeting continues along the Goliath project's mineralized domain trending East-West. Regionally, several high value EM axis and Mag targets have yet to be fully evaluated. The Company plans to further define these targets utilizing a soil sampling program that will be implemented later in 2014. Treasury will utilize the results of the soil surveys across the site to develop and rank the targets for a future drilling program across the full extent of the Goliath property.
*Intervals do not necessarily indicate true widths. Holes drilled at approx. 360°Az and dips ranging -50 to -63°. All assays are rounded to two decimal places. No significant results are reported for hole TL14338.
**The composite sample result is calculated using pulp-metallic assays for the high grade samples identified from the original fire assays. On average, original fire assays returned Au values 20% higher
Full Table of Assays can be found on the Company's website.
A long section of the Main Zone and C Zone incorporating the holes from the program can be found on the Company's website.
Technical information in this press release has been reviewed and approved by Gerry Katchen, P. Geo, who is the 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, please visit the Company's website at www.treasurymetals.com and please view the Company's new corporate video.
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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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