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Toronto, Ontario–(Newsfile Corp. – January 26, 2023) – TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (“TRU” or the “Company”) is pleased to announce the results from its soil sampling programs completed along the Jacob’s Pond trend (“Jacob’s Pond”) (Figure 1) at its 100% owned Golden Rose Project (“Golden Rose” or the “Project”) located in the highly prospective Central Newfoundland Gold Belt.
A total of 1,903 soil samples were collected in this region and include sampling completed during the 2022 field season to infill gaps in historical soil sampling coverage. The soil sampling programs were designed to identify new copper-zinc-lead and gold-silver mineralization and provide additional targets for TRU’s 2023 exploration and drilling programs along Jacob’s Pond. This target extends over 4 km and includes low- to high-grade critical minerals and gold-silver occurrences which have strong Induced Potential (IP) geophysical and soil anomalies.
TRU has identified strong copper-zinc and gold soil anomalies across Jacob’s Pond, which correspond well with the 2022 diamond drilling results at the Jacob’s Twin sub-target along trend. For example, hole JP-22-10 intersected several mineralized zones containing quartz-carbonate veining and copper mineralization, one of which assayed 1.03% copper (Cu), 0.71 g/t gold (Au), and 24.95 g/t silver (Ag) over 3.0m from 193.45 m to 196.45 m hole depth (refer to news release dated September 22, 2022 – “TRU Opens Up New Copper-Gold-Silver Discovery at Golden Rose”).
These soil sampling results also appear to correlate well with a high chargeability IP anomaly near the sheared contact with a flow banded rhyolite, and combined, these datasets have defined a new copper target between 750 m to 1.2 km southwest of the Jacob’s Twin target.
Soil sampling results have identified at least 8 strong copper and gold soil anomalies up to 3 km west of Jacob’s Pond, potentially defining a prominent southwest-trending mineralized fault structure that will be a major focus for additional prospecting, trenching, and drilling to confirm mineralization in bedrock.
Joel Freudman, Co-Founder and CEO of TRU, commented, “We are very pleased with the results of our recent soil sampling programs completed along Jacob’s Pond, which clearly indicate the critical minerals and gold mineralization potential along this promising structural trend. Prominent copper and zinc soil anomalies identified southwest of Jacob’s Pond will be a major focus of our 2023 exploration plan in this region. With current projections for significantly increased demand for critical minerals far overwhelming current supply, we are excited at what may be the beginning stages of TRU being a real participant in Canada’s critical minerals strategy.”
Figure 1: Location of TRU Soil Sampling Programs Along Jacob’s Pond
To view an enhanced version of Figure 1, please visit:
Soil sampling results have confirmed significant copper, zinc, lead, and gold anomalies in the Jacob’s Pond, Twin Ponds, and Bear Pond areas at Golden Rose. Soil sampling geochemistry results have proven to be a highly effective exploration tool in identifying bedrock copper, zinc, lead, and gold-silver mineralization in Central Newfoundland. By following up on soil geochemistry anomalies through prospecting, geophysical surveys, trenching, and diamond drilling, significant mineral discoveries have been made throughout the Cape Ray – Valentine Lake structural corridor.
The 2022 Jacob’s Twin soil sampling grid was designed to extend the 2021 grid lines in the Bear Pond to Twin Ponds area an additional 700 to 1,050 m further southeast (Figure 1). Soil geochemistry anomalies identified in 2021 were open to the southeast due to the limited length of the grid lines in this area. During fall 2022, a small follow-up infill soil sampling program was also carried out in an area of heightened interest on the Jacob’s Twin grid, in order to tighten up soil grid line spacing to 50 m.
The soil sampling results have confirmed a new, previously unrecognized area for further exploration southwest of Jacob’s Pond within a splay off the Cape Ray – Valentine Lake Shear Zone, and the presence of an underlying regional structure that may host critical minerals such as copper and zinc, in addition to other minerals including lead, gold, and silver. The soil geochemistry anomalies southwest of Jacob’s Pond appear to correspond with several heavily copper mineralized rock samples collected by TRU in 2022, including one rock sample which assayed 14.3 g/t gold (Au), 11% copper (Cu), 368 g/t silver (Ag) and 0.12% antimony (Sb) (refer to news release dated April 13, 2022 – “TRU Releases Interim IP Survey Results Over Gold and Copper Showings”).
Compiled soil geochemistry anomaly maps for copper, gold, and zinc are shown below in Figure 2 to Figure 4 and include the 2022 drill holes completed by TRU along Jacob’s Pond including the Jacob’s Twin target.
Figure 2: Copper-In-Soil Anomaly Map
To view an enhanced version of Figure 2, please visit:
Figure 3: Gold-In-Soil Anomaly Map
To view an enhanced version of Figure 3, please visit:
Figure 4: Zinc-In-Soil Anomaly Map
To view an enhanced version of Figure 4, please visit:
Sampling and Analytical Procedures
The soil samples were collected at 25 to 50 m spacing along 100 m spaced lines, and wherever possible soil samples were collected from the B-horizon soil layer. Each soil sample location was recorded using a hand-held GPS and the sample placed in a plastic bag with a unique sample ID tag. Soil samples were dropped off at either the SGS Canada (“SGS”) laboratory in Grand Falls-Windsor, NL or the Eastern Analytical Limited (“EAL”) laboratory in Springdale, NL for sample preparation, gold fire assay, and 34-element ICP analysis. Both laboratories are independent of TRU.
The TRU exploration programs are designed to be consistent with mining industry best practices and the programs are supervised by Qualified Persons employing exploration procedures consistent with requirements under the CIM Mineral Exploration Best Practice Guidelines (2018) and National Instrument 43-101 (“NI 43-101”).
Readers are cautioned that the soil sampling results and descriptions of mineralization reported in this news release are preliminary and/or early-stage results. While these results are considered encouraging, there is no guarantee that they indicate significant mineralization will be intersected in future drilling programs.
Qualified Person Statement and Data Verification
The scientific and technical information disclosed in this news release has been prepared and approved by Paul Tnière, M.Sc., P.Geo., Vice President of Exploration for TRU, and a Qualified Person as defined in NI 43-101.
Mr. Ténière has verified all scientific and technical data disclosed in this news release including the soil sampling assay results underlying the technical information disclosed. Mr. Ténière noted no errors or omissions during the data verification process. The Company and Mr. Ténière do not recognize any factors of sampling or recovery that could materially affect the accuracy or reliability of the data disclosed in this news release.
About TRU Precious Metals Corp.
TRU (TSXV: TRU) (OTCQB: TRUIF) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, originally optioned from TSX-listed Altius Minerals. Golden Rose is a regional-scale 239.5 km2 land package, including a recently-discovered 20 km district-scale structure, and an additional 45 km of strike length along the deposit-bearing Cape Ray – Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. In addition, TRU has an option to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2 including a 12 km strike length along the Shear Zone within Golden Rose.
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/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: [email protected]
To connect with TRU via social media, below are links:
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
This press release contains certain forward-looking statements, including those relating to exploration activities at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose 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; volatility in financial markets, economic conditions, and 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.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/152555