Gold grade and widths don't look too bad.
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Toronto, Canada – Treasury Metals Inc. TML/TSX, is pleased to announce initial drilling
results from the western target at the Goliath Gold Project, located one kilometre along strike
from the eastern high-grade zone with the best result being 3.4 m @ 16.0 g/t in hole
TL11-173. Additional results are also reported in the table below from the eastern zone,
which has until recently been the primary focus of the Company’s 30,000 m drilling program.
The Company reports positive intersections with the best results from the eastern target
being 4.0 m @ 18.9 g/t in hole TL11-164 and 2.4 m @ 13.2 g/t in hole TL11-169.
The western target has had far less drilling in the past compared with the Main Zone and
these are the first holes completed under the current 30,000 m drilling program. These initial
drill holes were less than 225 metres below surface (with the exception of TL11-173).
Andrew Cheatle, Vice President of Exploration, commented, “Initial results in the western
target are highly encouraging and warrant additional drilling. The western target has the
potential to add additional ounces to the overall resource. We will continue to work in this
area to define other high-grade shoots, which are accretive to the high-grade structures that
are currently being defined in the eastern portion of the deposit.”
The results in the eastern zone are located near the eastern boundary of the resource.
These drill holes coupled with the results from previously announced drilling are being used
to define the extent of the high-grade gold zone at the Goliath Gold Project, which continues
to be open at depth.
Drill Hole From (m) To (m) Interval (m) Au (g/t) Comments
TL11-164 405.0 409.0 4.0 18.9 Main Zone
TL11-165 117.0 121.2 4.2 1.5 Main Zone-West
TL11-167 175.6 177.4 1.8 6.7 Main Zone-West
TL11-168 213.9 215.9 2.0 3.5 Main Zone-West
TL11-169 407.7 410.1 2.4 13.2 Main Zone
TL11-170 492.1 495.4 3.3 4.3 Main Zone
TL11-171 150.4 152.4 2.0 5.6 Main Zone-West
TL11-172 353.1 355.6 2.5 4.0 Main Zone
TL11-173 280.3 283.7 3.4 16.0 Main Zone-West
TL11-174 485.9 491.5 5.6 1.2 Main Zone
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*Intervals do not necessarily indicate true widths. Holes drilled at approx. 320°Az and dip of
-60°. All depths and assays rounded to one decimal place. No significant assays were
reported from TL11-166.
** TL11-164 was previously reported (see press release June 09, 2011): subsequent pulp
metallic assays have resulted in an updated intersection to be reported. Cut value (using a
top-cut of 50 g/t) TL11-164: 4.00 m @ 15.05 g/t.
*** Cut value (using a top-cut of 50 g/t) TL11-173: 3.38 m @ 15.83 g/t.
The drill program at the Goliath Gold Project continues with two drilling rigs currently turning
on-site. The Company is well funded to complete the 30,000 m drilling program. One drill rig
remains on the eastern target, where Treasury Metals has been intersecting significant
results. The second drill rig continues to test the western and other higher grade shoots
where mineralization has been observed in historical drilling and will soon be moved to drill
exploration targets one kilometre east and along strike from the mineral resource.
Technical information in this press release has been reviewed and approved by Andrew
Cheatle, P. Geo., Vice President of Exploration at Treasury Metals, who is a qualified person
under the definitions established by National Instrument 43-101.
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