TRU
Precious Metals Completes
Phase
1 Drill
Program at 100%-Owned
Twilite
Gold Project in
Central Newfoundland
Fredericton,
New Brunswick – July
7,
2021
-- InvestorsHub NewsWire -- TRU Precious Metals
Corp. (TSXV:TRU; OTCQB:TRUIF;
FSE:706) ("TRU" or the
"Company") is pleased to
announce that, further to its
press releases on June 1 and June 8, 2021, the
Phase
1 diamond drilling
program has been
completed at its
100%-owned
Twilite Gold Project in
Central Newfoundland ("Twilite
Gold"). Drilling focused on a
previously identified target
that the Company has now
dubbed
the "Fort
Knox Gold Zone".
Highlights
-
Phase 1 drilling has been successfully completed on
time at
the Fort Knox Gold Zone for a total of 2,577 meters in 12 drill
holes.
-
Drilling
has successfully intersected the widest sections of the mineralized
shear zone to date.
-
Extensive mineralized quartz breccia
encountered in multiple drill holes.
-
Regionally significant mineralized conglomerate, akin to the
Rogerson Lake Conglomerate,
has been intersected in multiple holes.
-
Core logging and sampling
are
underway with two core saws. Excellent core recoveries
were achieved
through mineralized zones, unlike historic drilling
by former property owner Fort Knox Gold
Resources.
-
Receipt
and evaluation of
complete
Phase
1
assay
results
are expected
over
approximately
the next
6
to
8
weeks,
with results
to be
publicly disclosed
in batches on a rolling basis
once sufficient volumes of data are available.
Drill Program Preliminary Results
Barry Greene, VP of Property Development and Director of TRU,
commented: "The
first phase of drilling in 2021 at Twilite Gold has gone
exceptionally well. We drilled 2,577
metres
of
NQ core,
more
than initially forecast, testing several additional
high-potential
gold
targets. We anticipate a steady flow of drill results from Twilite
Gold over the coming weeks and months, with results from these
holes pending."
The drill program consisted of
12
NQ boreholes situated along a deep-seated,
multi-kilometer,
west-northwest trending structure
(see Figure 1).
The drilling focused
within the Fort Knox Gold Zone, and specifically
an approximately
200m
strike length section of this structure near the intersection with
a northeast trending mineralized structure that is also auriferous
in historic drilling.
Improving on historic drilling, TRU's
Phase
1 drilling
has intersected an extensive shear zone containing areas of
moderate to intense sericite and silica alteration
and
including
wide
areas of
polyphase quartz veining and
quartz breccias containing sulphide mineralization including
pyrite, arsenopyrite and stibnite.
The alteration and mineralization
is coincident with
a broad portion of
the 600m long mineralized structure identified in the detailed
magnetic survey completed by TRU
and announced
on December 8, 2020.
Figure
1:
Twilite Gold Phase 1 Drill Program – Drillhole Location Map (on
detailed ground magnetics)
TRU has not verified the historical
grab sample
assay results contained in this press release and is not relying on
them as current mineral resources or mineral reserves. Note
that
grab sample
results are select samples and are not necessarily representative
of mineralization on Twilite Gold. Readers are cautioned that these
potential grades are conceptual in nature; there has been
insufficient exploration by the Company or its qualified person at
Twilite Gold to define a mineral resource or mineral reserve; and
it is uncertain whether further exploration will result in these
targets being delineated as a mineral resource or mineral
reserve.
It is noteworthy that several holes intersected hematitic and
silicified polylithic conglomerate,
locally
containing sulphide mineralization.
Such polylithic conglomerate is texturally similar
to,
and may represent the strike extension of,
the Rogerson Lake Conglomerate ("RLC").
The RLC has already been mapped in proximity to Twilite
Gold
and is considered to be an important expression of the regionally
extensive
Cape Ray -
Valentine Lake-
Shear Zone.
Regionally,
the
RLC
(or its equivalent)
is found directly associated
with gold mineralization at
Matador Mining's
Cape Ray
deposit; Marathon Gold's
Valentine
Gold deposit; and Canterra Minerals'Wilding
Lake
project.
TRU Co-Founder and CEO Joel Freudman added:
"We
are excited to have completed
TRU's
first-ever drill program,
which we chose to carry out
at Twilite Gold a mere seven months
after
acquiring the
project.
We are very encouraged that
a
promising
variety of
mineralization is evident in
the
cores,
often with good continuity,
which supports our
belief
that Twilite Gold is well-situated along the deposit-bearing Cape
Ray – Valentine Lake
Shear Zone.
We believe that this targeted
first
round of drilling will indeed be the starting point to help
the
Company unearth the inherent value we believe exists at Twilite
Gold."
Drilling
Quality Assurance/Quality Control ("QA/QC")
All
NQ core is sampled,
cut by core saw, and split by Company
personnel,
and put
into bags with unique sample tags for identification. The bags are
sealed with a security tag and are then transported directly to the
lab by TRU
staff.
All rock samples are analyzed at Eastern Analytical
Ltd.
("Eastern Analytical") of 403 Little Bay
Road, Springdale, NL, a commercial laboratory that is ISO/IEC 17025
accredited and independent of TRU.
Eastern Analytical pulverized 1000 grams of each sample to 95% <
89 µm. Samples are analyzed using fire assay (30g) with AA finish
and an ICP-34, four acid digestion followed by ICP-OES analysis.
All samples with visible gold or assaying above 1.00 g/t Au are
further assayed using metallic screen to mitigate the presence of
the nugget effect of coarse gold. Standards and blanks are inserted
at defined intervals for QA/QC purposes by the Company
as well
as Eastern
Analytical. The
TRU
exploration program
design is consistent with industry best practices and the program
is carried out by qualified persons employing a QA/QC
program
consistent with National Instrument 43-101.
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 has assembled a
portfolio of 5 gold exploration properties in the highly
prospective Central Newfoundland Gold Belt. The Company 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 3 under-explored properties including its Rolling Pond
Property (under option) bordering New Found Gold Corp.'s high-grade
Queensway Project. 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
Toronto-based
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 about Resurgent, please visit Resurgent's LinkedIn
profile at
https://ca.linkedin.com/company/resurgent-capital-corp
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:
Facebook
https://www.facebook.com/TRU-Precious-Metals-Corp-100919195193616
Twitter
https://twitter.com/corp_tru
LinkedIn
https://www.linkedin.com/company/tru-precious-metals-corp
YouTube
https://www.youtube.com/channel/UCHghHMDQaYgS1rDHiZIeLUg/
Cautionary
Statements
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,
including those relating to exploration
and drill
program results
at
Twilite
Gold. These statements
are based on numerous assumptions regarding Twilite Gold
and
the Company's
drilling
program
and results 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 Twilite
Gold; the exploration
potential of Twilite Gold
and the
nature and style of mineralization at Twilite
Gold; risks inherent in
mineral exploration activities; 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.
