Toronto – Treasury Metals Inc., TML/TSXV, is pleased to announce additional drill results from the Goliath Gold Project.
Treasury Metals is currently drilling two targets of the Main Zone located one kilometre apart, along strike. The eastern high-grade zone is the Company’s main focus. Recently started diamond drilling on the Western target has intersected gold mineralization. In this new zone the limits of gold mineralization are yet to be found.
(Results from both targets are shown in the table below. )
The Company is pleased to report positive intersections. The best result from the Eastern target is an intersection of 4.1 m @ 8.7 g/t in hole TL11-180. Visible gold was observed in this interesection.
TL11-180 is the deepest hole drilled in the Eastern target of the Main Zone in this current campaign and one of only a few deep holes ever drilled at the Goliath Gold Project.
The latest results from the east are located near the eastern boundary of the resource.
These drill holes, along with results from the previously announced drilling are being used to define the extents of the high-grade gold zone at the Goliath Gold Project. The high grade zone is open at depth.
The best result from the Western target is 0.6 m @ 18.5 g/t. Drillling continues to probe the limits of gold mineralization on this target. The initial holes in the Western target are less than 275 metres below surface (also see press release dated July 5, 2011).
The Company is also exploring for gold in the C Zone, parallel to the Main Zone. The drill program at the Goliath Gold Project currently has two drilling rigs currently turning on-site.
Given the encouraging results to date, Treasury Metals has expanded the planned 30,000 metres drilling program to 40,000 metres. (131,200 feet)
One drilling rig remains on the Eastern target, where Treasury Metals has intersected significant high grade results.
The second drilling rig continues to test the Western target and other higher grade shoots where mineralization has been observed in historical drilling. This drill will be moved to drill new exploration targets one kilometre further east and along strike from the currently defined 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. Andrew is a qualified person under the definitions established by National Instrument 43-101.
The Company has implemented a quality assurance and quality control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in accordance with the CIM Exploration Best Practices Guidelines. The drill core is sawn in half with one-half of the core samples shipped to Accurassay Laboratories in Thunder Bay, Ontario. The other half of the core is retained for future assay verification, and/or metallurgical testing. Other QA/QC procedures include the insertion of blind blanks and standards for every tenth sample in the sample stream. Selected quarter core duplicates were assayed for 5% of the samples. The laboratory re-assays 10% of all samples (pulps and rejects) and additional checks are routinely run on anomalous values including gravimetric analysis and pulp metallics. Gold analysis is conducted by lead collection, fire assay with atomic absorption and / or gravimetric finish on a 30 gram sample. Check assays by a secondary lab are completed as necessary.
Please visit the Company's website at treasurymetals.com
Greg Ferron
Vice President, Corporate Development
T: 1-416-214-4654
greg@treasurymetals.com
Martin Walter
President and CEO
T: 1-416-214-4654
martin@treasurymetals.com |
