Fredericton, New Brunswick–(Newsfile Corp. – June 24, 2021) – TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce the acquisition of a significant claims package (the “Claims”) contiguous with the Company’s flagship Golden Rose Project in Central Newfoundland’s Gold Belt.
TRU has acquired, via indirect staking, 62.25 square kilometres (km2) of mineral claims contiguous with the existing Golden Rose Project, increasing the property size by almost 60% from 105 km2 to 167.25 km2 (Figure 1) along and adjacent to the Cape Ray – Valentine Lake Shear Zone (the “Shear Zone”).
Joel Freudman, Co-Founder and CEO of TRU, commented: “Consistent with TRU’s stated strategic objective to add or expand properties of merit along the Shear Zone, this acquisition adding to our district-scale Golden Rose Project is very exciting for us, and comes at only minimal staking costs. This consolidation provides better coverage of a 23 km section of a possible splay structure, or offshoot, adjacent to the main Shear Zone. Importantly, this 23 km long splay structure is very underexplored and is known to host gold mineralization, which automatically makes the Claims an early focus of TRU’s field programs at Golden Rose.”
The Claims are located along a structural corridor (Figure 2) believed to be a splay of the Shear Zone containing anomalous gold and arsenic in lake sediments. Several recent gold occurrences on the Golden Rose Project are interpreted to be associated with this splay structure. These include the Jacobs Pond gold zone (hand trenching returned grab samples grading from 0.8 grams per tonne (g/t) gold (Au) to 2.2 g/t Au) and the Rose Gold showing (hand trenching returned grab samples grading from 3.3 g/t Au to 20.2 g/t Au)1. Additionally, visible gold grains have been panned along the trend of this structural corridor. The Claims also contain a historic grid hosting anomalous gold in soil values including 110ppb gold in soil2. Other historic gold showings that appear to be located along the structural corridor include the Sansu gold showing (3.5 g/t Au in grab samples3) and the Big Arm gold showing (16 g/t Au4).
Figure 2: Gold Occurrences and Structural Corridor Along Newly Acquired Claims
To view an enhanced version of Figure 2, please visit:
National Instrument 43-101 Disclosures
The technical information herein, including assay results, relating to the Golden Rose Project is historical in nature and has not been independently verified by TRU. Note that grab samples are selective by nature, and values reported may not represent the true grade or style of mineralization across the Golden Rose Project. The potential grades are conceptual in nature; there has been insufficient exploration to define a mineral resource; and it is uncertain whether further exploration will result in any targets being delineated as a mineral resource.
Barry Greene, P.Geo. 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 merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies. For more information on Resurgent and its portfolio companies, please visit Resurgent’s LinkedIn profile at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: [email protected]
To connect with TRU via social media, below are links:
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.
Information in this press release relating to third-party mineral exploration properties are from sources believed to be reliable, but that have not been independently verified by TRU. Information in this press release relating to historical exploration results at the Golden Rose Project was provided by the optionor of the property, and has not been independently verified by TRU.
This press release contains certain forward-looking statements, including those relating to exploring the Claims, and the prospectivity and mineralization of the Claims and the Golden Rose Project. These statements are based on numerous assumptions regarding the Claims and the execution and success of exploration 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 the Claims and/or the Company’s mineral exploration properties; the exploration potential of the Company’s properties and the nature and style of mineralization at same; 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.
1 Source: Altius Resources Inc.
2 Source: NDME geofiles # 12A/0900
3 Source: NDME mineral occurrence database system
4 Source: NDME mineral occurrence database system
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/88477
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