Treasury Metals Inc. has announced results from an additional 4,000 metres from 27 holes of a planned 22,000 metre diamond drilling program for 2021 at the Goldlund Gold Deposit located within the larger 100% owned Goliath Gold Complex, which includes the Goliath, Goldlund and Miller deposits along a prospective 65-kilometre trend in Northwestern Ontario.
- Results from 27 holes for the Goldlund Gold Project 2021 drilling campaign released today include significant intersections both within the PEA resource zone and along strike. Selected drill results include:
- Hole GL-21-073 intersected 5.50 m grading 66.56 g/t Au, including 0.70 m grading 210.00 g/t Au, 0.80 m grading 78.40 g/t Au and 1.00 m grading 138.00 g/t Au in Zone 6 from 22.5 m to 28 m downhole;
- Hole GL-21-082 intersected 4.60 m grading 12.70 g/t Au, including 0.6 m grading 6.51 g/t Au and 1.40 m grading 37.50 g/t Au in Zone 6 from 140.4 m to 145 m downhole and also intersected 8.00 m grading 3.53 g/t Au, including 1.00 m grading 26.10 g/t Au in Zone 6 from 155 m to 163 m downhole;
- Hole GL-21-080 intersected 6.90 m grading 7.07 g/t Au, including 0.50 m grading 61.20 g/t Au and 0.50 m grading 26.40 g/t Au from 282 m to 288.9 m downhole in Zone 6;
- Hole GL-21-081 intersected 23.50 m grading 1.91 g/t Au, including 1.50 m grading 19.20 g/t Au and 1.00 m grading 10.60 g/t in Zone 4 from 25.5 m to 49.0 m downhole
The Company has drilled approximately 22,200 metres (123 holes) to date at Goldlund. Following the results released today, gold assays are pending on 5,200 metres (21 holes) at Goldlund. Drilling in 2021 at Goldlund was primarily focused on infill and expansion drilling in the main Goldlund PEA pit design footprint; however, the program also targeted near surface, on strike extensions of mineralization. Drill results today are a combination of infill and expansion drill holes throughout the Goldlund project testing all mineralized zones.
Jeremy Wyeth, President and CEO of Treasury Metals, commented: “We are pleased to report additional drill results from our 2021 Goldlund drilling campaign that show several high grade intervals and the extension into Zone 6, which lies outside to the northwest of the main Goldlund PEA pit. The results show good mineralization of near surface material that can potentially allow for the expansion of the pits and increase our confidence in our resource model.”
Hole GL-21-073 was targeting inter-zone mineralization related to Zone 6 as well as Zone 3. This hole was a 130 metre step out to the northwest in the footwall of the main PEA Pit. The hole intersected 5.50 m grading 66.56 g/t Au including 0.70 m grading 210.00 g/t Au, 0.80 m grading 78.40 g/t Au and 1.00 m grading 138.00 g/t Au on the inter-zone mineralization related to Zone 6 at the hanging wall contact of a felsic intrusive unit. The geology team is working to better understand the relationship of this intrusive felsic dyke rock and the mafic to intermediate volcanic rocks that host Zone 4, 5, 6 and 8. A litho-structural review on the controls of mineralization in the area is underway, using structural and geochemical data from this year’s program.
Holes GL-21-080, GL-21-81 and GL-21-082 were drilled targeting Zone 4 following up on June and July’s Zone 4 results as infill holes approximately 25 metres in the footwall of the main PEA Pit.
Holes GL-21-080 and GL-21-082 were drilled to reach Zone 6 located in the footwall approximately 30 metres from Zone 4. The Treasury team is pleased to see that Zone 6 also showed promising results, where hole GL-21-082 intersected 4.60 m grading 12.70 g/t Au, including: 0.6 m grading 6.51 g/t Au and 1.40 m grading 37.50 g/t Au from 140.4 m to 145 m downhole. Hole GL-21-082 also intersected 8.00 m grading 3.53 g/t Au, including 1.00 m grading 26.10 g/t Au in Zone 6 from 155 m to 163 m downhole. Also, from Zone 6, hole GL-21-080 intersected 6.90 m grading 7.07 g/t Au, including: 0.50 m grading 61.20 g/t Au and 0.50 m grading 26.40 g/t Au. Results in Zone 6 from GL-21-080 and GL-21-082 were associated with mafic flows adjacent to felsic intrusive dykes. Improving the geological model for this mineralization is ongoing work for the team into 2022.
Additional positive results were returned for Zone 5 this month, including GL-21-052 intersecting 13.00 m grading 1.05 g/t Au. The new results come as the follow up Zone 5 infill drill program wrapped up in October, which tested the on strike continuity from positive results released in September.
Drilling is ongoing at the Goldlund Wild Cat Exploration targets (Ocelot and Caracal) located approximately halfway between Goldlund and Miller. This first pass drill program of approximately 1,800 metres will test two geophysical anomies with similar signatures to Goldlund and Miller.
About Treasury Metals Inc.
Treasury Metals Inc. is a gold focused company with assets in Canada. Treasury’s Goliath Gold Complex, which includes the Goliath, Goldlund and Miller deposits, is located in Northwestern Ontario. The deposits benefit substantially from excellent access to the Trans-Canada Highway, related power and rail infrastructure, and close proximity to several communities including Dryden, Ontario. The Company also owns several other projects throughout Canada, including the Lara Polymetallic Project, Weebigee-Sandy Lake Gold Project JV, and grassroots gold exploration property Gold Rock. Treasury Metals is committed to inclusive, informed and meaningful dialogue with regional communities and Indigenous Nations throughout the life of all our Projects and on all aspects, including: creating sustainable economic opportunities, providing safe workplaces, enhancing of social value, and promoting community well-being.
For information on the Goliath Gold Complex, please refer to the preliminary economic assessment, prepared in accordance with NI43–101, entitled “NI 43–101 Technical Report & Preliminary Economic Assessment of the Goliath Gold Complex: and dated March 10, 2021 with an effective date of January 28, 2021, led by independent consultants Ausenco Engineering Canada Inc. The technical report is available on SEDAR at www.sedar.com, on the OTCQX at www.otcmarkets.com and on the Company website at www.treasurymetals.com.
To view further details about Treasury, please visit the Company’s website at www.treasurymetals.com.