TriMetals Mining Inc. Drills 10.7 m @ 2.02 g/t Au and 25.2 g/t Ag at 12.2 meters downhole depth at Gold Springs Project
February 08 2018 - 5:00AM
TriMetals Mining Inc. (TSX:TMI), (“TriMetals”,
“TMI”, or the “Company”), is pleased to announce the final results
from drill holes completed as part of the 2017 program on the Gold
Springs Project in Utah and Nevada.
Summarized results for these holes are listed below;
Hole Number |
From (m) |
To(m) |
Thickness*(m) |
Gold(g/t) |
Silver(g/t) |
E-17-016 |
7.6 |
89.9 |
82.3 |
0.63 |
11.6 |
including |
7.6 |
35.1 |
27.4 |
1.19 |
17.3 |
And |
12.2 |
22.9 |
10.7 |
2.02 |
25.2 |
E-17-018 |
115.8 |
166.1 |
50.3 |
0.23 |
4.3 |
*True width is approximately 80-100% of Thickness. |
The drill holes are located in the South Jumbo resource area and
were designed to test the continuity of shallow, higher-grade
material (hole E-17-016) and for a possible parallel higher-grade
zone within the hanging wall of the Etna structural trend
(E-17-018).
Mr. Eric Edwards, President & CEO of TriMetals commented,
“The discovery of these grades in drill hole E17-016 demonstrates
the continuity and strength of this higher-grade zone that has been
traced now for over 450 meters along strike. At a depth of
just 12.2 meters down hole, these results confirm the near-surface
nature of the Jumbo zone.” Mr. Edwards continued, “The South
Jumbo zone remains open to both the north and south, and will be
the likely primary exploration target for our next drilling
program.”
Drill hole E-17-016 is located east of hole E-16-003 and
targeted the developing shallow, higher-grade gold zone to confirm
continuity within this area. This zone is defined by a
postulated structural intersection which controls a linear body of
higher-grade gold and silver values. This higher-grade
feature is depicted in the figure located at:
http://www.trimetalsmining.com/wp-content/uploads/2018/02/SoJumbo-3D-Min-Env1PR-2-18.pdf.
In addition to the higher-grade gold intercept, hole E-17-016
displays continuous mineralization from 7.6 to 89.9 metres down
hole, averaging 0.63 g/t gold and 11.6 g/t silver over this 82.3
metre interval.
Previous drilling suggests there are two possible deeper,
parallel higher-grade zones to the east, and Hole E-17-018 was the
first attempt to locate parallel zones to the west, within the
hanging wall portion of the main Etna structural zone. Hole
E-17-018 was successful in that it demonstrates mineralization
continuity into the hanging wall. Additional drilling will be
needed to define the gold distribution within this area.
Link to Hole locations and cross sections:
http://www.trimetalsmining.com/wp-content/uploads/2018/02/Etna-Plan-X-Sections1-23.pdf
Mr. Edwards further commented, “TMI plans to explore and expand
these zones to the north and south where we can trace outcropping
gold mineralization, but where we have conducted little exploration
drilling in the past.”
Drill Hole Information:
Hole ID |
Easting – UTM NAD 27 |
Northing – UTM NAD 27 |
Elevation Meters |
Azimuth |
Inclination |
TD (m) |
E-17-016 |
760579 |
4196710 |
2017 |
90 |
-70 |
99 |
E-17-018 |
760554 |
4196694 |
2016 |
130 |
-45 |
130 |
About TriMetals Mining Inc.TriMetals Mining
Inc. is a growth focused mineral exploration company creating value
through the exploration and development of the prospective Gold
Springs gold-silver project in Utah and Nevada USA, and the
Escalones copper-gold porphyry deposit in Chile. The Company
combines a track record of discovery and advancement of large
projects, mining and exploration supportive jurisdictions, low
political risk areas, 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(1) shares also trade on the OTCQX market
under the symbol “TMIAF” and “TMIBF”. Additional information
related to TriMetals Mining Inc. is available at
www.TriMetalsmining.com and on SEDAR at www.sedar.com.
(1) |
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 (the “Bolivia Arbitration”). |
Qualified PersonThe 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. The
Qualified Person verified the data for its geological
reasonableness, checked all the inputs and verified the analytical
data through an analysis of the blanks and standards submitted with
the drill-cutting samples.
Quality Assurance and Quality
ControlApproximately 10 kg of RC chips were sent to the
laboratory for each 1.52 metre drill interval. Fifteen
percent of the samples submitted by the Company are blanks or
standards for QA/QC purposes. In addition, the laboratory
also includes duplicates of samples, standards and blanks.
The results of these check assays are reviewed prior to the
release of data. All RC drill sample assays are also reviewed
for their geological context and checked against the drill
logs.
Assay MethodTMI 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 assaying
greater than 10 g/t re-assayed using a 30-gram sample and a gravity
finish. All other elements were analyzed by a four-acid leach
ICP method coded MA300.
Forward Looking StatementsCertain 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 “creating”, “continue”, “will” and similar expressions and
include the Company’s expectation for an award in respect of the
Bolivia Arbitration to be announced in 2018. 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; risks
related to the international arbitration process; 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 February 8, 2018.
TriMetals Mining Inc. Contact:
Eric Edwards President
eedwards@trimetalsmining.com Randall More Executive Vice
President of Exploration rmoore@trimetalsmining.com |
|