|May 27, 2015|
Treasury Metals Identifies Significant New Gold Intersections Including 6.08 g/t Au over 6.0 m Near Surface
TORONTO, May 27, 2015 /CNW/ - Treasury Metals Inc. (TSX: TML) is pleased to announce the remainder of the results from its infill sampling program of existing drill core and its bottle roll testing program on the Company's 100% owned Goliath Gold Project located near the city of Dryden in northwestern Ontario.
To further evaluate the gold potential of the B Zone and other zones throughout the main deposit, the Company initiated and has completed an infill sampling program of existing drill core not previously assayed. This program covered untested areas of either extensions or potential new zones of previously un-sampled drill core. A total of 2,090 new split core samples were collected from 95 drill holes. The program was successful in identifying new gold mineralization in half (56) of the 110 new target zones that were identified for inspection. A near surface hole and a newly tested Hanging Wall zone both reported significant results: Hole TL10-116 returned 6.08 g/t Au over 6.0 m at a vertical depth of 17 m from surface and TL08-53 returned 4.53 g/t Au over a sample length of 5.0 m at a depth of 160 m.
Further, a section of D Zone mineralization in Hole TL11-210 contained visible gold and returned 7.15 g/t Au over 1.0 m. Four holes that intersected the B Zone returned gold assays ranging from 2.25 to 3.11 g/t Au over sample lengths from 1.0 to 2.0 m (see Table below). The sampling program, along with other B Zone intersections from the most recent Phase 2 program, will allow Treasury to construct a new Longitudinal Section of the B Zone across the strike length of the deposit and potentially identifying targets for future drill programs. A second B Zone, designated "B2" located between the B and C Zones, returned 3.04 g/t Au over 2.0 m. Gold mineralization with significant gold assays were also obtained from Main Zone and C Zone intersections as well.
In addition, the Company is reporting results from a successful bottle roll testing program that was undertaken to determine if this analytical method might recover more gold and increase potential gold ounces at the Goliath Gold Project. A total of 374 reject samples were selected from nineteen holes drilled between 2013 and 2015 for 1,000 gm bottle roll testing. All samples contained original gold concentrations less than 5.0 g/t Au and were dispatched to Accurassay and Actlabs for analyses. Overall, 58% (228 samples) of the samples experienced a gain in gold in the range of 0 to 3.26 g/t Au over average sample lengths of 1.10 m. As an example, Hole TL14-375's original Main Zone intersection increased from 2.04 g/t Au to 3.15 g/t Au over a sample length of 5.0 m. The C Zone intersected near surface by Hole TL13-305 with an original grade of 0.52 g/t Au increased to 1.89 g/t Au over a sample length of 2.6 m. Losses in gold might be related to possible inhomogeneous effects where gold might still be retained in the bottle roll residue which is currently being investigated.
Two holes drilled to test a gold Mobile Metal Ion ("MMI") Anomaly P located in iron formation northeast of the Goliath Gold Deposit did not return any significant gold assays.
With Treasury's 2014/2015 Phase 2 drilling program now completed, these results will be used to form a new NI 43-101 compliant resource estimate. This program focused on resource category conversion and on expanding the Main and C Zone mineralization. The primary objective has been on further developing the C Zone, the Western shoots at depth in areas that have not been previously drill tested and locations west of the main proposed pit (see press release date April 15, 2015 for these results west of main proposed pit).
Results have been tabulated below and a full table of assays can be found on the company's website.
Technical information in this press release has been reviewed and approved by Paul Dunbar, P. Geo, who is the qualified person under the definitions established by National Instrument 43-101.
(*) - Fault/Shear Zone, Core Recovery = 66%
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 Canadian standards for every tenth sample in the sample stream. Selected quarter core duplicates are assayed every 20 samples. The laboratory re-assays 10% of all samples (pulps and rejects) and additional checks are routinely run on anomalous values including both gravimetric analysis and metallic screen fire assaying methods. Gold analysis is conducted by lead collection, fire assay with atomic absorption and/or gravimetric finish on a 30 gram sample (recently changed to 50 gm). A total of 5% of the sample pulps will be dispatched to a secondary assay laboratory for assay verification.
To learn more about Treasury Metals, please visit the Company's website at www.treasurymetals.com.
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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