IRW-PRESS: TRU Precious Metals Corp.: Tru Precious Metals Provides Update on Summer 2021 Exploration Program
Fredericton, New Brunswick – July 30, 2021 -TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FWB:706) (TRU or the Company) is pleased to provide a comprehensive update on its exploration program on its properties in the Gold Belt of Central Newfoundland. The Company also announces the results of its Annual General Meeting and Extraordinary Shareholders’ Meeting on July 29, 2021 (the “Meeting”).
Project Golden Rose
The Company continues its systematic program of soil sampling, bedrock clay sampling (Till), geological mapping and prospecting, and is focusing exploration work on the Golden Rose Project during the remainder of the summer field season. Nearly 2,000 field samples have been submitted for geochemical analysis, and results are expected in the next 6-8 weeks. In the meantime, the Company is preparing for an airborne geophysical survey over the recently acquired areas of the Golden Rose Project. The start of this investigation is planned for the beginning of August.
GoldSpot Discoveries Corp., a technical service provider to the Company, presented a preliminary target presentation to the Company and is working on geological modeling of the South Woods Lake Gold Zone (SWL Gold Zone), where historical drilling over a 550 meter (m) longitudinal longitudinal section of rocky intrusive rock confirmed significant gold mineralization. This geological modeling will assist the Company in selecting drill targets in the SWL Gold Zone. The Company is also applying for permits and has engaged a drilling company to complete a previously announced 5,000 metre drill program at the Golden Rose Project. The program is scheduled to commence in October 2021 and will target infill and expansion drilling of the gold mineralized rocky intrusive rock in the SWL Gold Zone and tru’s optioned concessions on July 13, 2021, where the Company discovered visible gold and a nearby Iron Hat (Gossan).
Twilite Gold Project
On July 7, 2021, the Company announced the completion of its Phase 1 drill program over 2,577 m at its Twilite Gold Project, which was aligned with a previously identified target, now called the Fort Knox Gold Zone. Continuous core cuts and sample submission were completed this week. Results are expected to be ongoing, approximately over the next 6 weeks, and will be released in batches, as in previous reporting.
Early Stage Properties
On May 25, 2021, the Company announced a Phase 1 exploration program at its property, Gander West, approximately 16 kilometers from New Found Gold Corps Queensway Project. All geochemical results on rock and soil samples from the limited orientation field program have now been received. Results from nine Till samples submitted for gold grain analysis are pending. The best results from the rock samples were 395 ppb (parts per billion) of gold (Au) from a trench sample. The best results from 118 soil samples were 52 ppb and 31 ppb Au. The results were graphically presented for the interpretation and determination of areas where further infill sampling or other further testing may be advisable.
On June 17, 2021, the Company announced the completion of a property-wide, targeted soil survey at its Rolling Pond property adjacent to the Queensway Project, which served to provide the Company with another layer of geochemical data in prospective areas following the collection of historical geophysical data, diamond drilling and prospecting. To date, the Company has received results on approximately a quarter of its soil samples, with best results of 61 and 34 ppb Au, as well as all results from the rock discoveries in which no significant values were found. As soon as all outstanding results have been received in the next few weeks, the company will determine whether and where further soil testing may be advisable.
In early July 2021, the Company completed a soil sampling and prospecting program for orientation at its Stony Lake property, 5 to 10 kilometers south of the Twilite Gold Project. A total of 171 soil samples and 38 rock discovery samples were collected.En. The results are expected in the next 6 weeks.
Results of the meeting
The company continues to report the voting results from the Annual General Meeting. Shareholders approved all routine business matters, including the election of all directors, i.e., Joel Freudman, Damian Lopez, Barry Greene, David Hladky and Colin Sutherland. In the area of special business matters, shareholders approved the Company’s stock option plan and the company’s expansion from Alberta to Ontario, but did not approve the proposed Restricted Share Unit Plan.
Disclaimer on National Instrument 43-101
The rock, soil and flotation samples presented are selective and the values may not represent the true value or type of mineralization in the affected mineral properties. These potential values are conceptual values. The Company has not completed sufficient exploration work on the TRU properties that would be necessary to define a mineral resource and it is uncertain whether future exploration work will designate these targets 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 information contained in this news release. Mr. Greene is a director and officer of the Company and holds securities of the Company.
About TRU Precious Metals Corp.
TRU has assembled a portfolio of 5 properties for gold exploration in the highly prospective Central Newfoundland Gold Belt. The Company has an option from a subsidiary of TSX-listed Altius Minerals Corporation to acquire 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 along the same shear zone and 3 early-stage properties, including two near 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 Stock Exchange under the symbol 706.
TRU is a portfolio company of Resurgent Capital Corp. (Resurgent), a commercial bank that provides advisory services for venture capital markets and equity financing. Resurgent works with promising publicly traded or private micro-capitalized companies listed on Canadian stock exchanges. More information about Resurgent and its portfolio companies is available on Resurgent’s LinkedIn profile: https://ca.linkedin.com/company/resurgent-capital-corp
For more information about TRU, please contact:
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Follow TRU at the following links on social media:
TRU would like to thank the Government of Newfoundland and Labrador for the financial support of the Twilite Gold Project through the Junior Exploration Assistance Program. TRU has received financing for a portion of its exploration activities in 2021 at the Twilite Gold Project. Cautionary Statements Regarding Forward-Looking Information
Cautionary Note Regarding Forward-Looking Information
Either the TSX-V or its Regulation Services Provider (as that is referred to in the laws of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements, including those relating to the methods and timing of exploration of the Company’s properties, the prospects and mineralization of these properties, and the permitting procedures. These statements are based on numerous assumptions regarding the execution and success of exploration plans made by management in the circumstances.are reasonably deemed to be subject to a number of risks and uncertainties, including without limitation: mineralization on adjacent and/or nearby properties is not necessarily indicative of mineralization on the Company’s properties; the exploration potential of the Company’s properties and the nature and style of mineralization on those properties; the risks associated with mineral exploration activities; the volatility of financial markets, economic conditions and precious metal prices; the challenges of attracting and retaining qualified personnel; and those other risks described in the Company’s ongoing disclosure documents. Actual results may differ materially from those anticipated in the forward-looking statements contained herein. Investors and other persons should carefully consider the above factors and should not place undue reliance on such forward-looking statements. The Company undertakes no obligation to update the forward-looking statements contained herein, unless required by applicable securities laws.
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