|January 08, 2015|
Treasury Metals Infill Drilling Program in Western Zone Confirms Continuity and Continues to Encounter High-Grade Mineralization
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.
Holes are generally drilled 350-360°Az with inclinations ranging -55 to -70°.
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:
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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SOURCE Treasury Metals Inc.
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