TriMetals Mining Inc. Reports Initial Sample Results From the Newly Leased Homestake Claims
November 16 2017 - 5:00AM
TriMetals Mining Inc. (TSX:TMI) (TSX:TMI.B)
(OTCQX:TMIAF) (OTCQX:TMIBF), (the “Company”), is pleased to
announce the results from a first round of rock chip sampling
collected on the newly leased Homestake claims which are located
one kilometre east of our Grey Eagle resource block and
approximately 4 km northwest of the Jumbo resource area where the
Company has been drilling in 2017. Sampling was conducted on
two stacked, 2-4 metre-wide, westward dipping, banded quartz veins
that are controlled by a major N-S fault structure that runs the
length of the 1.8 kilometre long claims. The veins are well
exposed for 65o metres along strike in historic mine cuts and as
outcrops before they are lost under post mineral cover. The host
rocks to the veins are oxidized andesites that have been
hydrothermally brecciated and contain stockwork quartz veining.
This mineralized wallrock material extends for up to 400 metres
east-west, surrounding the veins, before disappearing under post
mineral cover. This forms a target that is at least 1.8 km long and
400 metres wide and may continue further south onto TMI
landholdings outside of the Homestake lease.
The highest grades occur in the quartz veins with strong gold
and silver mineralization occurring in the host rock as well.
Examples are shown below:
Sample # |
Sample Type and Width |
Description |
Au g/t |
Au ReAssay g/t |
Ag g/t |
Ag ReAssayg/t |
140512 |
continuous, 4m |
vein |
4.2 |
4.5 |
46.7 |
44.8 |
140525 |
continuous, 40cm |
vein |
>10.0 |
11.5 |
12.8 |
|
113107 |
Panel, 1x1m |
vein |
>10.0 |
13.9 |
51.1 |
47.9 |
113109 |
continuous, 1m |
vein |
>10.0 |
14.4 |
48.3 |
48 |
Ralph Fitch, President and CEO of the Company stated “TriMetals
is very excited about these results which show that good grades
occur throughout the entire length of the exposed veins. It is also
very important from a resource development perspective that the
mineralization extends out a significant distance on each side of
the major vein features creating a large volume of mineralized
material. This will clearly be one of our priority drill targets
moving forward. On another note we are now starting to get assay
results back from the remainder of our Jumbo drill program and
expect to be able to report these results within a couple of
weeks.”
Higher grade gold mineralization has now been found along the
entire exposed 650m length of the two stacked veins which have
widths of 2-4 metres each. The vein system has the potential to
continue under the post mineral cover following the N-S fault that
controls it and extend the entire 1.8 kilometer length of the
property. Mineralized breccia and stockwork outcrops are
found in windows within this post mineral cover confirming this
potential.
The Homestake boarders the historic Iris Mine area, which is
located immediately to the west, where high grade gold is hosted in
an eastward dipping vein, creating the potential of an intersection
of the east dipping Iris vein and the west dipping Homestake vein
systems at depth. Intersections of important vein systems are good
targets for mineralization.
The following tables list samples from the veins and the
surrounding wallrock. Samples were taken across the width of the
two veins along the exposed strike length. These results
demonstrate that high grades are found along the full exposed 650
metre strike of the two stacked veins with gold values ranging from
1.4 g/t to 14.4 g/t Au, and silver values reaching 55.8 g/t Ag.
The brecciated and stockwork-veined host rocks that form the
wallrock to the veins are also mineralized with gold values ranging
from 0.29 g/t to 1.6 g/t Au and up to 68.1 g/t silver.
Homestake Vein Samples:
Sample # |
Sample Type and Width |
Description |
Au g/t |
Au ReAssay g/t |
Ag g/t |
Ag ReAssayg/t |
140512 |
continuous, 4m |
vein |
4.2 |
4.5 |
46.7 |
44.8 |
140513 |
grab, 12cm |
vein |
3.6 |
4.0 |
26.7 |
21.6 |
140516 |
grab, 20cm |
vein |
3.5 |
3.7 |
26.8 |
24.8 |
140518 |
continuous, 0.5m |
vein |
7.3 |
7.7 |
55.8 |
34.4 |
140519 |
continuous, 2m |
vein |
2.7 |
|
13.9 |
|
140520 |
Select, 20 cm |
vein |
1.4 |
|
7 |
|
140521 |
continuous, 1m |
vein |
4.4 |
4.3 |
24.4 |
24.6 |
140522 |
continuous, 1m |
vein |
3.8 |
3.8 |
41 |
41.7 |
140523 |
grab, 20cm |
vein |
0.73 |
|
5.4 |
|
140525 |
continuous, 40cm |
vein |
>10.0 |
11.5 |
12.8 |
|
140531 |
continuous, 7cm |
vein |
4.6 |
4.5 |
12.4 |
|
140534 |
continuous. 0.7m |
vein |
9.1 |
8.5 |
20.3 |
<20.0 |
140535 |
grab, 20cm |
vein |
9.5 |
9.5 |
11 |
|
140537 |
continuous, 3m |
vein |
2.8 |
|
10.7 |
|
140538 |
grab, 30cm |
vein |
0.17 |
|
1.1 |
|
140497 |
Float, 2x2m area |
vein float |
>10.0 |
10.5 |
68 |
60.4 |
140498 |
Continuous, 1m |
vein |
0.39 |
|
1.6 |
|
140499 |
Dump |
vein |
8.9 |
8.8 |
35.5 |
27 |
113101 |
Continuous, 2m |
vein |
1.9 |
|
25.9 |
26 |
113101 |
Continuous, 2m |
vein |
1.9 |
|
25.9 |
26 |
113103 |
Float, 2x2m area |
vein float |
3.5 |
3.3 |
21.1 |
<20.0 |
113104 |
Float, 2x2m area |
vein float |
5.7 |
5.2 |
25.5 |
20 |
113106 |
Continuous, 2m |
vein |
4.9 |
4.8 |
16.2 |
|
113107 |
Panel, 1x1m |
vein |
>10.0 |
13.9 |
51.1 |
47.9 |
113109 |
continuous, 1m |
vein |
>10.0 |
14.4 |
48.3 |
48 |
113111 |
Select, 20cm |
vein |
0.29 |
|
3.3 |
|
113115 |
Dump |
vein |
2.7 |
|
12.7 |
|
113116 |
Float, 3x3m area |
vein float |
2.8 |
|
16.2 |
|
113144 |
Dump |
vein |
1.1 |
|
9.3 |
|
113145 |
Dump |
vein |
0.98 |
|
7.3 |
|
113164 |
Discontinuous, 15cm |
vein |
7.9 |
7.3 |
10.1 |
|
113167 |
Continuous, 0.5m |
vein |
0.32 |
|
2.0 |
|
113168 |
Continuous, 0.5m |
vein |
5.3 |
5.5 |
7.2 |
|
113174 |
Continuous, 40cm |
vein |
0.24 |
|
2.3 |
|
113175 |
Select, 20cm |
vein |
0.30 |
|
3.4 |
|
113178 |
Continuous, 2m |
vein |
0.97 |
|
4.6 |
|
Homestake Wallrock Samples of Breccias and Stockwork Zones:
Sample # |
Sample Type and Width |
Description |
Au g/t |
Ag g/t |
Ag ReAssayg/t |
140517 |
grab, 40cm |
breccia |
0.84 |
2.1 |
|
140500 |
Dump |
breccia |
0.92 |
31.7 |
30.4 |
113102 |
Grab, 20cm |
breccia |
0.29 |
44.6 |
42.8 |
113133 |
Discontinuous, 1m |
breccia |
1.6 |
68.1 |
65.6 |
113173 |
Continuous, 0.5m |
breccia |
0.39 |
3.0 |
|
113177 |
Grab, 15cm |
breccia |
0.43 |
3.9 |
|
113182 |
Grab, 20cm |
stockwork |
2.4 |
9.9 |
|
About TriMetals Mining Inc.
TriMetals Mining Inc. is a growth focused mineral exploration
company creating value through the exploration and development of
the near surface, Gold Springs gold-silver project in mining
friendly Nevada and Utah in the U.S.A. and by demonstrating the
exploration potential at the very large Escalones copper-gold
porphyry deposit in Chile.
The Company’s approach to business combines the team’s track
record of discovery and advancement of large projects, key
operational and process expertise, and a focus on community
relations and sustainable development. Management has extensive
experience in the global exploration and mining industry.
The Company’s common shares and Class B shares are listed on the
Toronto Stock Exchange under the symbols “TMI” and “TMI.B” and the
common shares and Class B shares also trade on the OTCQX market
under the symbol “TMIAF” and “TMIBF”. Note that the Class B
shares have no interest in the properties or assets of the Company
other than a collective entitlement to 85% of the net cash, if any,
(after deducting all costs, taxes and expenses and the third-party
funder's portion thereof) received by TMI from award or settlement
in relation to the Company’s subsidiary South American Silver
Limited’s arbitration proceeding against Bolivia for the
expropriation of the Malku Khota project in 2012. Additional
information related to TriMetals Mining Inc. is available at
www.trimetalsmining.com and on SEDAR at www.sedar.com.
Qualified Person
The Qualified Person on the Gold Springs property is Randall
Moore, Executive Vice President of Exploration – North America of
TriMetals Mining Inc. and he has reviewed and approved the content
of this press release.
Assay Method
TMI Assays were performed in Sparks, Nevada by Bureau Veritas
Mineral Laboratories, an ISO 9001:2000 Certified laboratory. Gold
was analyzed by fire assay of a 30-gram sample with an AAS finish
with samples showing re-assay results using a 30-gram sample and a
gravity finish. All other elements were analyzed by a four acid
leach ICP method coded MA300. Silver re-assay results are done by a
30-gram fire assay, and a gravity finish.
Forward Looking Statements
Certain statements contained herein constitute
“forward-looking information” under applicable Canadian securities
laws (“forward-looking statements”). Forward looking statements
look into the future and provide an opinion as to the effect of
certain events and trends on the business. Forward-looking
statements may include words such as “continue”, “target”,
“potential”, “suggests”, “will” and similar expressions.
Interpretations of exploration results, including the strength of
mineralization, are also forward-looking statements. These forward-
looking statements are based on current expectations and entail
various risks and uncertainties. Actual results may materially
differ from expectations if known and unknown risks or
uncertainties affect our business or if our estimates or
assumptions prove inaccurate. Factors that could cause results or
events to differ materially from current expectations expressed or
implied by the forward-looking statements, include, but are
not limited to, risks of the mineral exploration industry
which may affect the advancement of the Gold Springs project,
including possible variations in mineral resources, grade, recovery
rates, metal prices, capital and operating costs, and the
application of taxes; availability of sufficient financing to fund
planned or further required work in a timely manner and on
acceptable terms; availability of equipment and qualified
personnel, failure of equipment or processes to operate as
anticipated, changes in project parameters, including water
requirements for operations, as plans continue to be refined;
regulatory, environmental and other risks of the mining industry
more fully described in the Company’s Annual Information Form and
continuous disclosure documents, which are available on SEDAR at
www.sedar.com. The assumptions made in developing the
forward-looking statements include: the accuracy of current
resource estimates and the interpretation of drill, metallurgical
testing and other exploration results; the continuing support for
mining by local governments in Nevada and Utah; the availability of
equipment and qualified personnel to advance the Gold Springs
project; execution of the Company’s existing plans and further
exploration and development programs for Gold Springs, which may
change due to changes in the views of the Company or if new
information arises which makes it prudent to change such plans or
programs.Readers are cautioned not to place undue reliance on the
forward-looking statements contained in this press release. Except
as required by law, TMI assumes no obligation to update or revise
any forward-looking statement, whether as a result of new
information, future events or any other reason. Unless otherwise
indicated, forward-looking statements in this press release
describe the Company’s expectations as of November 16, 2017.
NEWS RELEASE: 17-17
TriMetals Mining Inc. Contact:
Ralph Fitch President
& CEO 303.584.0606 ralphfitch@trimetalsmining.com |
Rebecca Moriarty Chief
Financial Officer 303.584.0606 rmoriarty@trimetalsmining.com |