TRU Precious Metals Drills Visible Gold at Golden Rose Project
Fredericton, November 4, 2021 - TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) ("TRU" or the "Company") is pleased to announce that it has encountered visible gold early in its 5,000 metre diamond drill program currently underway at its flagship Golden Rose Project ("Golden Rose"), in the Central Newfoundland Gold Belt.
TRU Co-Founder and CEO, Joel Freudman commented: "We are ecstatic to report that multiple specks of visible gold have been observed in a completed drill hole in our recently announced drill program at Golden Rose. While assays are pending and the drilling continues, we are encouraged and feel that these early observations further bolster our belief in the prospectivity of Golden Rose and provide early validation of the extensive work that our Team has dedicated to this program. We look forward to reporting additional results as drilling continues."
Woods Lake itself (figure 1) is situated on a 2.5 km long by 0.5 km wide Z shaped flexure in the Valentine Lake shear zone. Drilling to date has been focused on the Woods Lake Gold Zone ('WLGZ"). While infill drilling on a potential hinge area of the shear zone, drill hole WL-21-05 successfully encountered several flecks of visible gold at 52.79m and 55.04m down hole (figures 2 and 3). The visible gold is in thin fractures absent any appreciable sulphides. This is the first reported visible gold encountered in this area of the WLGZ. Hole WL-21-05 is located approximately 800 meters from historic hole ST05-004 where visible gold was observed and which ultimately assayed 19.4 g/t Au over 1.5m.
Figure 1 - Woods Lake Drilling Map
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5993/101885_29bfd22e44d1bad2_001full.jpg
Golden Rose is a regional-scale land package covering 215.25 square kilometres (km2), including approximately 45 km of strike length along the deposit-bearing Cape Ray -Valentine Lake structural corridor between Marathon Gold Corp.'s ("Marathon") Valentine Gold Project to the northeast and Matador Mining Ltd.'s ("Matador") Cape Ray Gold Project to the southwest.
Barry Greene, VP of Property Development and Director of TRU further commented: "It is rewarding to see visible gold in drill core this early in the drill program. As we explore new ideas and test new ground, we are continuing to see good signs, not only at the Woods Lake but property wide. Golden Rose is really shaping up as a significant project of merit."
Figure 2 - Visible Gold in Drill Hole WL-21-05 at 52.79m down hole
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5993/101885_29bfd22e44d1bad2_002full.jpg
Figure 3- Visible Gold in Drill Hole WL-21-05 at 55.04m down hole
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5993/101885_29bfd22e44d1bad2_003full.jpg
The observation of visible gold flakes in the core is positive but not necessarily indicative that assay results with significant gold mineralization will be received
Qualified Person
Barry Greene, P.Geo. (NL) is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the contents and technical disclosures in this press release. Mr. Greene is a director and officer of the Company and owns securities of the Company.
About TRU Precious Metals Corp.
TRU is drilling for gold in the highly prospective Central Newfoundland Gold Belt and has an option with a subsidiary of TSX-listed, Altius Minerals Corporation to purchase 100% of the Golden Rose Project, located along the deposit-bearing Cape Ray - Valentine Lake Shear Zone. TRU also owns 100% of the Twilite Gold Project, located along the same Shear Zone, and earlier-stage properties in the region. TRU's common shares trade on the TSX Venture Exchange under the symbol "TRU", on the OTCQB Venture Market under the symbol "TRUIF", and on the Frankfurt exchange under the symbol "706".
TRU is a portfolio company of Resurgent Capital Corp. ("Resurgent"), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent's website at https://www.resurgentcapital.ca/.
For further information about TRU, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
Website: www.trupreciousmetals.com
To connect with TRU via social media, below are links:
Twitter
https://twitter.com/corp_tru
LinkedIn
https://www.linkedin.com/company/tru-precious-metals-corp
YouTube
https://www.youtube.com/channel/UCHghHMDQaYgS1rDHiZIeLUg/
Facebook
https://www.facebook.com/TRU-Precious-Metals-Corp-100919195193616
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support of the Twilite Gold Project through the Junior Exploration Assistance Program. TRU has been approved for funding for a portion of its 2021 exploration activities at the Twilite Gold Project.
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements relating to the drill program and other exploration activities at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose, and the Company's exploration and drilling plans, that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization; risks inherent in mineral exploration activities, and operational problems relating to drilling; volatility in precious metals prices; and those other risks described in the Company's continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/101885
