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 January 08, 2015
Treasury Metals Infill Drilling Program in Western Zone Confirms Continuity and Continues to Encounter High-Grade Mineralization

 

TSX:TML

TORONTO, Jan. 8, 2015 /CNW/ - Treasury Metals Inc. (TSX: TML) is pleased to announce initial results from the late 2014 Phase II drilling program at its 100% owned Goliath Gold Project located near the city of Dryden in northwestern Ontario.

Treasury's current drilling program is focusing on resource category conversion and expansion of the Main and C zone mineralization. This program will enable Treasury to finalize the underground engineering plans for the future feasibility study as well as delineate the final open pit outline. The infill program is initially focused on the Western Area of the Main Zone which remains the least drilled of all zones at the Goliath Gold Project. Drilling to date has returned significant grades over mineable widths at drill spacings of roughly 30m, with more drilling to follow.

Highlights from the initial Phase II program include drilling several specks of visible gold on Hole TL14-374, returning 2m at 199.75g/t. TL14-374 was drilled approximately 41m down plunge of previous highlight hole TL11-204A which intercepted 6.0m at 22.3g/t (See Press Release August 30, 2011).

Other highlights from the Western Main Zone include hole TL14-375 which intersected 4.87g/t over 3.5m through a Hanging Wall zone and 3.81/t over 8.0m through the Main Zone. TL14-372 returned an interval of 4.5m at 3.86g/t through the Main Zone.

Hole ID Section Area From To * Intercept (m) Au (g/t)
TL14-372 13+50W Western Main 267 271.5 4.5 3.86
TL14-374** 13+25W Western Main 234.5 236.5 2.0 199.75
TL14-375 12+75W Hanging Wall 133 136.5 3.5 4.87


Western Main 185 193 8.0 3.81

Holes are generally drilled 350-360°Az with inclinations ranging -55 to -70°.
All assays are rounded to two decimal places.
*Intervals do not necessarily indicate true widths.
** Cut Value for TL14-374 (using a top cut of 50g/t) = 2.0m @ 26.05g/t

Full Table of Assays can be found on the company's website.

Further planned follow-up drilling in the Western Zone will be focused on adding additional indicated ounces to the underground resource. Following the Western Area program exploration will focus on:

  • Follow up of newly developing zone discovered earlier during the Phase I drill program. Highlight intercepts include TL14-367 (12.8m at 2.71g/t) at 52m vertical depth and, at a vertical depth of 58m, hole TL14-369 encountered 5.0m at 1.32g/t (See Press Release Aug 5, 2014).
  • Regionally, across the Goliath property, several EM conductors with overlying MMI soil anomalies are to be drill tested.

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.

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Forward-looking Statements
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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