TRU NEWS
All disclosure filings, including news releases and financial documents can be found on the TRU Precious Metals SEDAR page.
TRU Copper Exploration Program Returns Samples assaying 3.7% and 3.2% Cu at Golden Rose
TRU Precious Metals Corp. provides results from the 2024 field season copper exploration program at its flagship Golden Rose Project strategically located along the gold deposit-bearing Cape Ray – Valentine Lake Shear Zone in Central Newfoundland.
Toronto, Ontario – November 5, 2024 – TRU Precious Metals Corp. (TSXV:TRU, OTCQB:TRUIF, FSE:706) (“TRU” or the “Company”) is pleased to provide results from the 2024 field season copper (“Cu”) exploration program at its flagship Golden Rose Project (“Golden Rose”) strategically located along the gold deposit-bearing Cape Ray – Valentine Lake Shear Zone in Central Newfoundland. As previously announced (see news releases dated April 18, 2024 and July 16, 2024), TRU has been conducting a targeted exploration program focused on the critical minerals potential of Golden Rose, with special emphasis on copper. Many of the areas targeted have limited exploration to date as Golden Rose is an historically underexplored asset.
The Jacob’s Prospect and King George Prospect areas both returned significant copper values (up to 3.7% Cu) while other locations returned numerous anomalous values, upgrading these targets for future work (Figure 1).
Highlights from the recently completed program are:
At Jacob’s Prospect, four samples comprising bedrock and float assayed from 2.0% to 3.7% Cu with numerous other rock samples assaying up to 1% Cu. This has extended the area of known copper potential at this prospect by approximately 2 kilometres (“km”) to the west-northwest;
At King George Prospect, outcrop and angular float grab samples assayed 3.7% and 2.4% Cu;
At Glenn’s Prospect, outcrop samples returned values up to 0.9 % Cu extending the area of known copper potential by 750 metres (“m”) to the southwest of the original outcrop reported in 2023 (See news release dated October 03, 2023);
Outcrop and angular float samples with highly elevated copper concentrations have been collected over a 5.5 km strike of the Cape Ray Shear Zone from Glenn’s Prospect to Jacob’s Prospect, with similar elevated copper concentrations also obtained from outcrop and angular float approximately 14 km further along the same structure to the southwest at King George Prospect;
Outcrop samples assaying up to 0.17 % Cu, as well as angular float boulder samples assaying up to 0.15% Cu and 1.4 grams per tonne (“g/t”) gold (“Au”) were discovered at the new Annie Prospect, a previously unexplored area 3.5 km north-northeast of Glenn’s Prospect; and
Several samples collected across the above-noted prospects also assayed anomalous zinc (“Zn”) values up to 0.95% Zn.
TRU CEO Steve Nicol commented: “We are very encouraged with the results of our latest exploration program, specifically targeting copper and other critical minerals at various locations within the nearly 300 sq.km Golden Rose Project area. This work continues to highlight the potential of the Project to host significant critical mineral occurrences. Further work is required to better evaluate the full potential of these occurrences. We look forward to working with our Golden Rose earn-in partners Eldorado Gold Corporation (“Eldorado”) to incorporate this latest information into the ongoing preparation of a revised and refined project-wide geological and structural model for Golden Rose” (See news release dated October 22, 2024).
Figure 1: Sample locations providing elevated copper results from the 2024 Cu exploration program
The Cu exploration program comprised prospecting, grab (rock) sampling and reconnaissance soil sampling and was undertaken over areas where previous work identified critical mineral prospectivity and also at locations highlighted by remote sensing work.
At Jacob’s Prospect (previously known as Jacob’s Pond and Jacob’s Twin), results include outcrop and angular float grab samples assaying 3.7%, 3.2%, 2.4% and 2.0% Cu, with numerous other Cu mineralized samples identified over a 1.5 km length and samples assaying up to 0.95% Zn. Rock types identified are mafic volcanics with massive, semi-massive and disseminated sulphide mineralization. Antimony (“Sb”) grades up to 0.2% Sb are also present. The Cu mineralization is interpreted as being associated with an east-west trending splay off the Cape Ray Shear Zone, with many of the anomalous samples taken from an area 1.4 km north of the 2022 drilling at Jacob’s Twin (see news release dated September 22, 2022) thereby extending the previously known anomalous copper zone significantly to the west-northwest by approximately 2 km.
At King George Prospect, results include outcrop and angular float grab samples assaying 3.7% and 2.4% Cu, with up to 0.9% Zn also encountered over an area of approximately 500 m x 500 m. The prospect lies in the area of an extensive geophysical anomaly. Rock types sampled are mafic volcanics with disseminated and fracture fill Cu and Zn mineralization.
At Glenn’s Prospect, the copper potential is supported by outcrop samples assaying up to 0.9 % Cu in the area surrounding the initial discovery outcrop. Rock types sampled are mafic volcanics and diabase hosting disseminations and fracture filling sulphide mineralization extending up to 750 m southwest of the initial discovery at Glenn’s Prospect.
At the new Annie Prospect, located in the Annieopsquotch Mountains, outcrop and angular float boulder samples assayed up to 0.17% Cu and up to 1.4g/t Au. Satellite and remote sensing data had previously indicated the potential for critical mineral prospectivity over parts of the Annieopsquotch Mountains. The discovery of elevated copper values in this area based solely on remote sensing data gives confidence that this data set can be used to identify additional base and precious metals mineralization zones at Golden Rose for future exploration.
Results from a soils program at the King George Prospect are pending.
Qualified Person Statement
The scientific and technical information disclosed in this news release has been prepared and approved by Joel Cranford, P.Geo., Project Geologist for TRU, and a Qualified Person as defined in NI 43-101. Joel Cranford has verified all scientific and technical data disclosed in this news release and noted no errors or omissions during the data verification process.
About TRU Precious Metals Corp.
TRU (TSXV:TRU, OTCQB:TRUIF, FSE:706) is on a mission to build long-term shareholder value through prudent natural resource property development. The company’s flagship project is the Golden Rose Project a regional-scale 297.50 km2 land package in Central Western Newfoundland (includes a 33.25 km2 package of claims over which TRU has an option with TSX-listed Quadro Resources to acquire up to an aggregate 65% ownership) which straddles a 45 km strike length along the gold deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Calibre Mining’s Valentine Project and AuMEGA Metals’ Cape Ray Gold Project. TRU is currently focused on efficiently discovering the full gold and copper potential at Golden Rose, targeting continuity along this proven gold bearing trend. The Golden Rose Project is currently optioned-out to TSX-listed Eldorado Gold Corporation.
TRU is approximately 36%-owned by European strategic investor Ormonde Mining plc (AQSE:ORM).
For further information about TRU, please contact:
Steve NICOL
CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support through the Junior Exploration Assistance Program and the Federal Government for its critical mineral assistance funding for the exploration activities at Golden Rose.
Forward-Looking Statements
This press release contains certain forward-looking statements, including those relating to exploration and drilling plans at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose, the Company’s exploration programs and results, and commodities prices 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 Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization at Golden Rose; risks inherent in mineral exploration activities; volatility in precious metals and base metals prices; volatility in economic conditions and financial markets; 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.
This press release is solely the responsibility of TRU, and Eldorado is not in any way responsible or liable for the contents hereof.
Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
TRU Provides Update on Flagship Golden Rose Project
TRU Precious Metals Corp. provides an update on its flagship Golden Rose Project.
Toronto, Ontario – October 22, 2024 – TRU Precious Metals Corp. (TSXV:TRU, OTCQB:TRUIF, FSE:706) (“TRU” or the “Company”) is pleased to provide an update on its flagship Golden Rose Project (“Golden Rose”). In August 2024, the Company completed the granting of an exclusive option (the “Option”) to Eldorado Gold Corporation (“Eldorado”) to earn an 80% ownership interest in Golden Rose, strategically located along the gold deposit-bearing Cape Ray – Valentine Lake Shear Zone in Central Newfoundland (see news releases dated July 30, 2024 and August 22, 2024).
The financial backing of Eldorado, via the Option, is affording TRU the ability to undertake a detailed review of the potential of Golden Rose. The claims that comprise Golden Rose were consolidated over several years, and TRU is now conducting a project wide exercise to understand and update the discovery potential for gold and other minerals across the 300 sq. km project area. The review will methodically apply geoscience and exploration practices across the entire property package.
TRU CEO Steve Nicol commented: “TRU is shifting to a “big picture” perspective of Golden Rose viewing the complete consolidated land parcels and claims as one entity to facilitate the development of an updated model of mineralization potential for the entire property, aimed at optimising the discovery process. TRU is focused on efficiently discovering the full gold and copper potential that may exist at Golden Rose.”
The objective of the initial step in this methodical process, designed in conjunction with Eldorado, is to extract the maximum information and knowledge from existing project data which will be reassessed and verified, then infilled and updated or improved where required. This work, which has already commenced, includes infill and geochemical sampling, reinterpretation of magnetic survey data, prospecting, re-mapping, and re-examination of drill core.
The wealth of information generated from this process will feed into preparation of a revised and refined geological and structural site-wide model, which will be utilized to generate a pipeline of quality drill targets across the property for prioritization and drilling.
While it is expected that this rigorous and methodical assessment will result in the identification of multiple targets across the property, it is initially being focused on the northeast-trending ‘exploration fairway’ between the Mark’s Pond zone and the Rich House zone (7.5km long x up to 2kms wide; Figure 1). Initial targeting in this area is expected to be completed by early 2025 with drilling planned to commence immediately thereafter.
Figure 1: Initial Exploration Fairway at Golden Rose
In parallel, and as previously announced, (see news release July 16, 2024), the Company has been running a copper and critical minerals focused exploration program across Golden Rose. Results from this program will be reported when work is complete, and all assay results have been received.
The scientific and technical information disclosed in this news release has been prepared and approved by Joel Cranford, P.Geo., Project Geologist for TRU, and a Qualified Person as defined in NI 43-101.
About TRU Precious Metals Corp.
TRU (TSXV:TRU, OTCQB:TRUIF, FSE:706) is on a mission to build long-term shareholder value through prudent natural resource property development. The company’s flagship project is the Golden Rose Project a regional-scale 300.25 km2 land package in Central Western Newfoundland (includes a 33.25 km2 package of claims over which TRU has an option with TSX-listed Quadro Resources to acquire up to an aggregate 65% ownership) which straddles a 45 km strike length along the gold deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Calibre Mining’s Valentine Gold Project and AuMEGA Metals’ Cape Ray Gold Project. TRU is currently focused on efficiently discovering the full gold and copper potential that may exist at Golden Rose.
TRU is approximately 36%-owned by European strategic investor Ormonde Mining plc (AQSE:ORM).
For further information about TRU, please contact:
Steve NICOL
CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support through the Junior Exploration Assistance Program and the Federal Government for its critical mineral assistance funding for the exploration activities at Golden Rose.
Forward-Looking Statements
This press release contains certain forward-looking statements, including those relating to exploration and drilling plans at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose, the Company’s exploration programs and results, and commodities prices 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 Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization at Golden Rose; risks inherent in mineral exploration activities; volatility in precious metals and base metals prices; volatility in economic conditions and financial markets; 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.
This press release is solely the responsibility of TRU, and Eldorado is not in any way responsible or liable for the contents hereof.
Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
TRU Precious Metals Completes Granting of Golden Rose Option to Eldorado Gold
TRU Precious Metals Corp. has now received an outstanding drill permit and accordingly has satisfied all pre-conditions to the definitive earn-in agreement transaction with Eldorado Gold Corporation.
Toronto, Ontario – August 22, 2024 – TRU Precious Metals Corp. (TSXV:TRU, OTCQB:TRUIF, FSE:706) (“TRU” or the “Company”) is pleased to announce that, further to its news release dated July 30, 2024, it has now received an outstanding drill permit and accordingly has satisfied all pre-conditions to the definitive earn-in agreement (the “Option Agreement”) transaction with Eldorado Gold Corporation (TSX:ELD, NYSE:EGO) (“Eldorado”). Pursuant to the Option Agreement, Eldorado has been granted the exclusive option (the “Option”) to earn an 80% ownership interest in TRU’s Golden Rose Project (“Golden Rose”), strategically located along the gold deposit-bearing Cape Ray – Valentine Lake Shear Zone in Central Newfoundland.
TRU CEO Steve Nicol commented: “We are delighted to welcome Eldorado, a gold producer with global operations, as a strategic partner to TRU. The TRU team is eager to drive exploration efforts forward and we look forward to a successful collaboration with Eldorado to unlock the potential of the project.”
Additional terms of the Option Agreement can be found in the Company’s news release dated July 30, 2024. A copy of the Option Agreement will be filed under TRU’s SEDAR+ profile at www.sedarplus.ca. The description of the Option Agreement contained herein is qualified by the complete text of the Option Agreement.
About Eldorado Gold Corp.
Eldorado is a gold and base metals producer with mining, development and exploration operations in Türkiye, Canada and Greece. The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities. Eldorado's common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO).
About TRU Precious Metals Corp.
TRU (TSXV:TRU, OTCQB:TRUIF, FSE:706) is on a mission to build long-term shareholder value through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, a regional-scale 264.25 km2 land package including 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Calibre Mining’s Valentine Gold Project and AuMEGA Metals’ Cape Ray Gold Project. In addition, TRU has an option to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2, including a 12 km strike length along the Shear Zone within Golden Rose. The Golden Rose Project is currently optioned-out to TSX-listed Eldorado Gold Corporation.
TRU is approximately 36%-owned by European strategic investor Ormonde Mining plc (AQSE:ORM).
For further information about TRU, please contact:
Olga Nikitovic
President & CFO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support through the Junior Exploration Assistance Program and the Federal Government for its critical mineral assistance funding for the exploration activities at Golden Rose.
Forward-Looking Statements and Disclaimers
This press release contains certain forward-looking statements, including those relating to performance of the Option Agreement, the Company’s relationship with Eldorado, and exploration plans for the Golden Rose Project. These statements are based on numerous assumptions regarding the Option Agreement, the Project, and the Company’s operations at Golden Rose that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: the Option may never be exercised by Eldorado as proposed or at all; the exploration potential of the Golden Rose Project; risks inherent in mineral exploration activities; 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.
This press release is solely the responsibility of TRU, and Eldorado is not in any way responsible or liable for the contents hereof.
Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
TRU Precious Metals Receives Shareholder and TSXV Approval for Golden Rose Option Agreement with Eldorado Gold
TRU has obtained both shareholder approval and TSX Venture Exchange approval of the definitive earn-in agreement transaction with Eldorado Gold Corporation.
Toronto, Ontario – August 1, 2024 – TRU Precious Metals Corp. (TSXV:TRU, OTCQB:TRUIF, FSE:706) (“TRU” or the “Company”) is pleased to announce that, further to its news release dated July 30, 2024, it has obtained both shareholder approval and TSX Venture Exchange approval of the definitive earn-in agreement (the “Option Agreement”) transaction with Eldorado Gold Corporation (TSX:ELD, NYSE:EGO) (“Eldorado”). Pursuant to the Option Agreement, Eldorado has been granted the exclusive option (the “Option”) to earn an 80% ownership interest in TRU’s Golden Rose Project (“Golden Rose”), strategically located along the gold deposit-bearing Cape Ray – Valentine Lake Shear Zone in Central Newfoundland.
Closing of the Option Agreement remains subject to TRU’s receipt of a drilling permit for Golden Rose from the Mineral Lands Division of the Newfoundland government (“Mineral Lands”). The permit application is under review by Mineral Lands and is expected to be issued within the month of August.
Additional terms of the Option Agreement can be found in the Company’s news release dated July 30, 2024. A copy of the Option Agreement will be filed under TRU’s SEDAR+ profile at www.sedarplus.ca. The description of the Option Agreement contained herein is qualified by the complete text of the Option Agreement.
About Eldorado Gold Corp.
Eldorado is a gold and base metals producer with mining, development and exploration operations in Türkiye, Canada and Greece. The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities. Eldorado's common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO).
About TRU Precious Metals Corp.
TRU (TSXV:TRU, OTCQB:TRUIF, FSE:706) is on a mission to build long-term shareholder value through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, originally optioned from TSX-listed Altius Minerals. Golden Rose is a regional-scale 264.25 km2 land package, including 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Calibre Mining’s Valentine Gold Project and AuMega Metals’ Cape Ray Gold Project. In addition, TRU has an option with Quadro Resources Ltd. to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2, including a 12 km strike length along the Shear Zone within Golden Rose. TRU is approximately 36%-owned by European strategic investor Ormonde Mining plc (AQSE:ORM)
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 companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ and follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support through the Junior Exploration Assistance Program and the Federal Government for its critical mineral assistance funding for the exploration activities at Golden Rose.
Forward-Looking Statements and Disclaimers
This press release contains certain forward-looking statements, including those relating to performance of the Option Agreement, the Company’s relationship with Eldorado, the Company’s permit application with Mineral Lands, and exploration plans for the Golden Rose Project. These statements are based on numerous assumptions regarding the Option Agreement, the Project, Mineral Lands permitting, and the Company’s operations at Golden Rose that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: the Option may never be exercised by Eldorado as proposed or at all; the exploration potential of the Golden Rose Project; delays in obtaining necessary permits; risks inherent in mineral exploration activities; 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.
This press release is solely the responsibility of TRU, and Eldorado is not in any way responsible or liable for the contents hereof.
Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
TRU Precious Metals Enters Definitive Option Agreement with Eldorado Gold
TRU Precious Metals Corp. signed a definitive earn-in agreement with Eldorado Gold Corporation, effective July 29, 2024, pursuant to which Eldorado has been granted the exclusive option to earn an 80% ownership interest in TRU’s Golden Rose Project strategically located along the gold deposit-bearing Cape Ray – Valentine Lake Shear Zone in Central Newfoundland.
TRU Grants Option to Acquire 80% Ownership of TRU’s Golden Rose Project
Toronto, Ontario – July 30, 2024 – TRU Precious Metals Corp. (TSXV:TRU, OTCQB:TRUIF, FSE:706) (“TRU” or the “Company”) is pleased to announce that it has signed a definitive earn-in agreement (the “Option Agreement”) with Eldorado Gold Corporation (TSX:ELD, NYSE:EGO) (“Eldorado”), effective July 29, 2024, pursuant to which Eldorado has been granted the exclusive option (the “Option”) to earn an 80% ownership interest in TRU’s Golden Rose Project (as defined below), strategically located along the gold deposit-bearing Cape Ray – Valentine Lake Shear Zone in Central Newfoundland (see Figure 1). All figures are in Canadian dollars, unless otherwise stated.
TRU Co-Founder and CEO Joel Freudman commented: “We are thrilled to partner with Eldorado to advance the Golden Rose Project, which we consider a strong endorsement of the work completed since optioning the initial land package from Altius Minerals in 2021, including leveraging the support of our strategic investor Ormonde Mining over the past year. Eldorado’s expenditures under the Option Agreement will accelerate the advancement of the Project’s gold and copper potential, while the cash payments will help fund TRU’s corporate overhead as we remain operator of the Project.”
Figure 1: Golden Rose Project Location
Terms of the Option Agreement
In order to acquire an 80% interest in the Golden Rose Project, Eldorado must make payments and incur exploration expenditures (“Exploration Expenditures”) on or before the corresponding dates set forth below:
Pursuant to the terms of the Option Agreement, TRU will initially act as operator of the Golden Rose Project. A technical committee, comprised of three Eldorado representatives and two TRU representatives, will review work programs, exploration expenditures and provide guidance on operations.
The Option Agreement, if exercised, would result in Eldorado owning an 80% interest in each of (a) TRU’s 100%-owned mineral claims and (b) TRU’s right to acquire up to a 65% interest in certain contiguous mineral claims pursuant to an option agreement with Quadro Resources Ltd., as amended (collectively, the “Golden Rose Project”, “Golden Rose”, or the “Project”).
Upon Eldorado exercising the Option, TRU and Eldorado will negotiate and enter a joint venture agreement. If TRU’s interest in such joint venture is diluted below 10%, its interest would convert to a 2% net smelter returns royalty, of which 1% would be re-purchasable by Eldorado for $5,000,000 at the time of commercial production.
The Option Agreement also contains a mechanism by which Eldorado will relinquish rights to portions of the Project containing discoveries of certain excluded critical minerals, specifically zinc and nickel, so that TRU remains beneficial owner of any non-gold and non-copper discoveries.
The Option Agreement is subject to certain conditions, namely: (i) final approval by the TSXV, (ii) approval by the shareholders of the Company as required by the TSXV, which TRU proposes to obtain by written consent; and (iii) TRU’s receipt of certain permits required to conduct Exploration Expenditures. The completion of the granting of the Option is expected on or about August 6, 2024
A copy of the Option Agreement will be filed under TRU’s SEDAR+ profile at www.sedarplus.ca. The description of the Option Agreement contained herein is qualified by the complete text of the Option Agreement.
Shareholder Meeting Results
The Company is also reporting voting results from the Annual & Special meeting held on July 29, 2024. Shareholders approved all items of business, including electing each of the directors nominated by management, namely, Joel Freudman, Manish Kshatriya, Brian Timmons, Steve Nicol and Steven Agnew. The shareholders also approved: the reappointment of McGovern Hurley LLP, Chartered Professional Accountants, as auditors of the Company for the ensuing year; the Company’s stock option plan; advance authorization of the potential voluntary delisting of the Company’s common shares from TSXV, although such initiative is not currently contemplated; advance authorization of a potential corporate name change, although such initiative is not currently contemplated; and advance authorization of a potential consolidation of the Company’s common shares, although such initiative is not currently contemplated.
About Eldorado Gold Corp.
Eldorado is a gold and base metals producer with mining, development and exploration operations in Türkiye, Canada and Greece. The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities. Eldorado's common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO).
About TRU Precious Metals Corp.
TRU (TSXV:TRU, OTCQB:TRUIF, FSE:706) is on a mission to build long-term shareholder value through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, originally optioned from TSX-listed Altius Minerals. Golden Rose is a regional-scale 264.25 km2 land package, including 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Calibre Mining’s Valentine Gold Project and AuMega Metals’ Cape Ray Gold Project. In addition, TRU has an option with Quadro Resources Ltd. to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2, including a 12 km strike length along the Shear Zone within Golden Rose. TRU is approximately 36%-owned by European strategic investor Ormonde Mining plc (AQSE:ORM).
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 companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ and follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support through the Junior Exploration Assistance Program and the Federal Government for its critical mineral assistance funding for the exploration activities at Golden Rose.
Forward-Looking Statements and Disclaimers
This press release contains certain forward-looking statements, including those relating to completing the transactions contemplated by the Option Agreement, exploration potential of the Golden Rose Project, and various corporate initiatives approved at the Company’s shareholder meeting. These statements are based on numerous assumptions regarding the Option Agreement and future corporate 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: the Option may never be exercised by Eldorado as proposed or at all; the exploration potential of the Golden Rose Project; challenges in identifying, structuring, and executing transactions on favourable terms or at all; risks inherent in mineral exploration activities; regulatory approval processes; 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.
This press release is solely the responsibility of TRU, and Eldorado is not in any way responsible or liable for the contents hereof.
Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
TRU Commences Copper Exploration Program at Golden Rose
TRU Precious Metals Corp’s copper-focused exploration program at its Golden Rose Project in Western-Central Newfoundland is underway.
Toronto, Ontario – July 16, 2024 – TRU Precious Metals Corp. (TSXV:TRU, OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce that its copper-focused exploration program at its Golden Rose Project (“Golden Rose”) in Western-Central Newfoundland is underway. As previously announced on April 18, 2024, exploration will be focused on the critical minerals associated with the deposit-bearing Cape Ray – Valentine Lake Shear Zone, with the view to developing a deeper understanding of the overall critical minerals potential at Golden Rose, and ideally to identifying drill targets for such minerals.
While special emphasis is on copper exploration (“Cu”), the program will also investigate other critical minerals occurrences hosting nickel (“Ni”) and zinc (“Zn”), which have been identified in previous exploration activities carried out by the Company.
Exploration work will include prospecting, grab (rock) sampling, reconnaissance soil sampling and trenching over interpreted critical minerals anomalies determined through previous work by TRU, historical data compilation, and recently acquired high resolution satellite and remote sensing data over the entire property. Many of the planned target areas have had limited exploration to date as Golden Rose is a historically underexplored asset.
Target areas for the exploration program will include locations for which exploration in 2021-2023 identified critical mineral anomalies in soils, rock samples and drill core. These areas include: Jacob’s Pond (up to 3.42% Cu), Jacob’s Twin (up to 11.0% Cu), Jacob’s West (up to 1,094 ppm Cu in soils), Glenn’s Prospect (up to 7.6% Cu), King George IV (up to 0.66% Cu and 1.33% Zn) and Bear Pond (up to 409 ppm Ni) (see Figure 1). The exploration program will also test a number of new opportunity areas which have been identified.
Figure 1: Golden Rose - Location of Main Critical Mineral Anomalies
TRU Co-Founder and CEO Joel Freudman commented: “Our exploration season has begun, and we are excited to continue advancing the potential at Golden Rose for additional copper, zinc and nickel discoveries, in addition to the heightened prospectivity for gold. Our top objective for this program, which will be eligible for enhanced government funding, is to hone in on potential critical minerals drill targets, which could supplement the gold-oriented drill program we are preparing for internally. We look forward to evaluating the incoming data from the field program and sharing the results with the market.”
Qualified Person Statement
The scientific and technical information disclosed in this news release has been prepared and approved by Joel Cranford, P.Geo., Project Geologist for TRU, and a Qualified Person as defined in NI 43-101.
Joel Cranford has verified all scientific and technical data disclosed in this news release and noted no errors or omissions during the data verification process.
About TRU Precious Metals Corp.
TRU (TSXV:TRU) is on a mission to build long-term shareholder value through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, originally optioned from TSX-listed Altius Minerals. Golden Rose is a regional-scale 264.25 km2 land package, including 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Calibre Mining’s Valentine Gold Project and AuMega Metals Ltd.’s Cape Ray Gold Project. In addition, TRU has an option to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2 including a 12 km strike length along the Shear Zone within Golden Rose. TRU is approximately 36%-owned by European strategic investor Ormonde Mining plc (AQSE:ORM).
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 companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ and follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support through the Junior Exploration Assistance Program and the Federal Government for its critical mineral assistance funding for the exploration activities at Golden Rose.
Forward-Looking Statements
This press release contains certain forward-looking statements, including those relating to exploration and drilling plans at Golden Rose, and the relative merits and appeal of Cu and other critical minerals. These statements are based on numerous assumptions regarding Golden Rose, the Company’s exploration programs and results, and commodities prices 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 Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization at Golden Rose; risks inherent in mineral exploration activities; volatility in precious metals and base metals prices; volatility in economic conditions and financial markets; 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.
Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
TRU Plans Critical Minerals Summer Exploration Program at Golden Rose Project
TRU Precious Metals Corp. is pleased to announce its intent to carry out an exploration program this spring and summer at its Golden Rose Project Western-Central Newfoundland. Exploration will assess the critical minerals potential associated with the deposit-bearing Cape Ray – Valentine Lake Shear Zone and will be copper-focused.
Toronto, Ontario – April 18, 2024 – TRU Precious Metals Corp. (TSXV:TRU) (“TRU” or the “Company”) is pleased to announce its intent to carry out an exploration program this spring and summer at its Golden Rose Project (“Golden Rose”) in Western-Central Newfoundland. Exploration will assess the critical minerals potential associated with the deposit-bearing Cape Ray – Valentine Lake Shear Zone and will be copper (“Cu”)-focused. The program will also investigate other critical minerals occurrences hosting nickel (“Ni”) and zinc (“Zn”), which have been identified in previous exploration activities carried out by the Company.
The objective of the exploration program is to develop a deeper understanding of the overall critical minerals potential at Golden Rose, supplementing the heightened prospectivity of Golden Rose for gold. The program will include prospecting, grab (rock) sampling, reconnaissance soil sampling and trenching over interpreted critical minerals anomalies determined through previous work by the Company, historical data compilation, and recently acquired high resolution satellite and remote sensing data over the entire property. Many of the planned target areas have had limited exploration to date.
The 2021, 2022 and 2023 exploration seasons identified Cu and other critical minerals anomalies at numerous locations including: (Figure 1)
Jacob’s Pond, where numerous soil anomalies occur and grab samples assayed up to 3.42% Cu and 2.76 grams per tonne (g/t) gold (“Au”) (see August 4, 2022 press release);
Jacob’s Twin, where rock samples assayed up to 11.0% Cu, 14.3g/t Au and 368g/t silver (“Ag”), and drill results assayed up to 1.10% Cu, 0.87g/t Au and 46.60g/t Ag over 2.8 metres (“m”) (see August 4, 2022 and September 22, 2022 press releases);
Jacob’s West, an area 750 m to 1.2 kilometres (“km”) southwest of Jacob’s Twin, where abundant Cu and lesser Zn in soil anomalies were identified (see September 22, 2022 and January 26, 2023 press releases);
Glenn’s Prospect, located 2.9 km northeast along the Cape Ray Shear zone from Cu mineralization at Jacob’s Pond and 4 km from Jacob’s Twin, where bedrock grab samples assayed up to 7.6% Cu (see December 5, 2023 press release);
The King George IV Lake area, where grab samples assayed up to 0.66% Cu and 1.33% Zn; and
Bear Pond, where 2021 soil sampling identified an area of anomalous Ni with results up to 409 parts per million (“ppm”) Ni. Reconnaissance-level government till sampling also returned an assay of 431 ppm Ni in this area.
The 2024 exploration program, which will be fully funded from the Company’s treasury, will further delineate and assess these anomalies in addition to identifying new opportunities.
Figure 1: Golden Rose - Location of Critical Mineral Anomalies Being Followed up in this Program
Copper is the world’s third-most used metal and is widely used in construction, electronics, transportation, industrial machinery and equipment, and the medical sector. As a critical mineral, Cu is especially in high demand for the growing electric vehicle (“EV”) market. Each EV requires two to four times more Cu than a conventional vehicle and the EV charging stations contain Cu as well. Analysts predict that Cu consumption from green energy sectors will grow five-fold by 2030 due to the growing EV market[1].
The Company has also scoped a drill program for its gold prospects across Golden Rose and is currently assessing the most advantageous time to undertake the program.
TRU Co-Founder and CEO Joel Freudman commented: “We are pleased to share our preliminary Golden Rose exploration plans with the market as the field season approaches in Newfoundland. We think there is higher leverage for TRU in making new discoveries of copper and other critical minerals, which we believe would help TRU appeal to a wider investor base while also making Golden Rose more attractive to larger gold companies looking for copper to diversify their gold exposure. Critical minerals exploration is also eligible for greater government subsidies. We have already established several high-quality, high-grade, drill-ready gold targets on Golden Rose, and as gold prices break record highs, we will continue to evaluate when we consider market conditions more conducive to fully recognizing promising gold exploration and drilling results.”
The Company will provide further details of the exploration program closer to when the field program commences over the coming weeks.
Other Corporate Updates
The Company recently released its audited financial statements for the year ended December 31, 2023, which reflected a working capital balance of approximately $2.7 million. The Company currently has a strong cash position of approximately $2.3 million and continues to prudently manage its cash outflows.
The Company also reports progress on its Normal Course Issuer Bid (the “NCIB”) announced on December 7, 2023. Since the inception of the NCIB through to April 16, 2024, the Company has repurchased for cancellation an aggregate of 3,323,000 common shares (“Shares”), representing approximately 2.0% of the number of issued and outstanding Shares at the commencement of the NCIB.
Qualified Person Statement
The scientific and technical information disclosed in this news release has been prepared and approved by Professor Garth Earls, Project Evaluation Advisor to TRU, and a Qualified Person as defined in NI 43-101.
Professor Earls has verified all scientific and technical data disclosed in this news release and noted no errors or omissions during the data verification process.
About TRU Precious Metals Corp.
TRU (TSXV:TRU) is on a mission to build long-term shareholder value through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, originally optioned from TSX-listed Altius Minerals. Golden Rose is a regional-scale 264.25 km2 land package, including 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Calibre Mining’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. In addition, TRU has an option to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2 including a 12 km strike length along the Shear Zone within Golden Rose. TRU is approximately 37%-owned by European strategic investor Ormonde Mining plc (AQSE:ORM).
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 companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ and follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support through the Junior Exploration Assistance Program and the Federal Government for its critical mineral assistance funding for the exploration activities at Golden Rose.
Forward-Looking Statements
This press release contains certain forward-looking statements, including those relating to exploration and drilling plans at Golden Rose, the adequacy of the Company’s financial position, and the relative merits and appeal of Cu and other critical minerals. These statements are based on numerous assumptions regarding Golden Rose, the Company’s exploration programs and results, and commodities prices 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 Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization at Golden Rose; risks inherent in mineral exploration activities; volatility in precious metals and base metals prices; volatility in economic conditions and financial markets; 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.
Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
[1] Source: INN (https://investingnews.com/daily/resource-investing/base-metals-investing/copper-investing/copper-uses/)
TRU Announces Further Copper and Gold Assays from Fall 2023 Prospecting at Golden Rose, including 7.6% Cu and 3.1 g/t Au
TRU Precious Metals Corp. announces further gold (Au) and copper (Cu) results from additional prospecting and bedrock sampling conducted on its Golden Rose Project in Central Newfoundland.
Toronto, Ontario – December 5, 2023 – TRU Precious Metals Corp. (TSXV:TRU) (“TRU” or the “Company”) is pleased to announce further gold (Au) and copper (Cu) results from additional prospecting and bedrock sampling conducted on its Golden Rose Project (“Golden Rose”) in Central Newfoundland (Figure 2). The fall 2023 prospecting and reconnaissance soil sampling program was focused on the discovery of new gold and critical minerals targets at Golden Rose and guided by recently acquired high resolution satellite and remote sensing data over the entire property. These additional grab sample results continue to prove the rich gold and copper endowment along the highly prospective Cape Ray-Valentine Lake Shear Zones.
Significant assay results from the fall bedrock sampling program are shown in Figure 1 and Table 1 below.
Highlights
Two bedrock samples collected along the southwestern shore of Victoria Lake, approximately 6 km northeast of the Ryan’s Hammer gold prospect, and along the Valentine Lake Shear Zone (“VLSZ”) returned assay values between 2.87 and 3.10 grams per tonne (g/t) Au, further confirming the extensive gold mineralization present along this important structure which extends to Marathon Gold’s Valentine Gold Project.
Follow-up bedrock sampling less than 2 km north-northeast of the Mark’s Pond target along the Cape Ray Shear Zone (“CRSZ”) returned between 0.58% to 7.60% Cu and 0.9 to 5.3 g/t silver (Ag). Based on these additional high-grade copper results, this area is considered a high priority critical minerals target for future trenching, channel sampling, and drilling.
Ground truthing of recently acquired data from high resolution satellite and remote sensing technology through reconnaissance soil sampling over select targets has been successful at determining the applicability of this technology as a regional prospecting tool and resulted in the identification of new gold and critical minerals targets for follow-up exploration work in 2024.
TRU Co-Founder and CEO Joel Freudman commented: “We are very encouraged by these additional bedrock sample assay results along both the Cape Ray and Valentine Lake shear zones. We remain excited about the gold and critical minerals potential throughout Golden Rose, further bolstered by satellite and remote sensing data which we continue to ground truth and interpret for drill hole targeting purposes.
Our next step is to develop an exploration and drilling program for summer 2024 based on our interpretation of the assay data from our recent trenching, channel sampling, prospecting, and soil sampling programs. These latest positive assay results cap off a very successful 2023 field season where we discovered new high-grade copper prospects in the northeastern part of Golden Rose and firmed up the high-grade gold potential at Mark’s Pond – Northcott Gold Zone, Rich House, and other prospects along the southwestern shore of Victoria Lake.”
Figure 1: Significant assay highlights from the fall 2023 bedrock sampling program at Golden Rose
Table 1: Table of significant assay highlights from the fall 2023 bedrock sampling program
Notes: *Samples returning fire assay results >1 g/t Au were analysed using Total Pulp Metallic analysis (screen metallics) to mitigate the nugget effect of coarse visible gold in the samples. NSV - no significant values; CRSZ – Cape Ray Shear Zone; VLSZ – Valentine Lake Shear Zone.
Figure 2: Golden Rose Project Location Map
Technical Summary
TRU recently completed its fall 2023 exploration program and collected a number of bedrock (grab) samples from several locations along the Cape Ray-Valentine Lake Shear Zone with minimal to no historical exploration work. Assay highlights from the bedrock sampling program are shown in Figure 1 and Table 1 above.
Bedrock samples collected along the CRSZ in the northeastern part of Golden Rose included dark grey to green, strongly chloritized and sheared mafic volcanics with abundant to massive chalcopyrite (varied from 3% to 15%), pyrite (2-3%), and minor malachite producing high grade copper results. Bedrock samples with rusty weathered surfaces collected on the southwestern shore of Victoria Lake along the VLSZ included fine grained meta-sandstone and siltstone with abundant veined pyrite, arsenopyrite, and stringer chalcopyrite.
Sampling, QAQC, and Analytical Procedures
For the fall 2023 exploration program, all rock samples were either collected from outcrops (bedrock) or as float samples and put into sample bags with unique sample tags by TRU prospecting and geological staff. The exact location of the collected grab sample was taken using a handheld GPS unit and field notes were taken by TRU staff on lithology, structure, and mineralization. The rock samples were securely transported by TRU staff to Eastern Analytical Ltd.’s (Eastern Analytical) laboratory in Springdale, NL. Eastern Analytical is a commercial laboratory that is ISO/IEC 17025 accredited and independent of TRU. The laboratory pulverized 1,000 grams of each sample to 95% < 89 μm. Samples were analyzed using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP-OES analysis. Samples sent to the lab with visible gold or assaying above 1.00 g/t Au were further assayed using Total Pulp Metallic analysis (metallic screening) to mitigate the presence of the nugget effect of coarse gold.
Total Pulp Metallic Sieve Procedure: Crush entire sample to approximately 80% (-10 mesh). Total sample is pulverized to approximately 95% (-150 mesh) in 200-300g portions. Sieve all pulverized material through 150 mesh screen. The total (+150 mesh) fraction is all fire assayed as one sample and the weight recorded. The entire (-150 mesh) fraction is rolled to homogenize and stored in a plastic bag. The entire weight of the (-150 mesh) fraction is recorded. A 30g sample is fire assayed from the (-150 mesh) portion. The two fire assay results (+150 and -150 mesh) are calculated (with the total weight of the sample to provide a weighted average of the sample) and the weighted average Au result is reported.
The TRU exploration programs are designed to be consistent with mining industry best practices and the programs are supervised by Qualified Persons employing a QAQC program consistent with requirements under the CIM Mineral Exploration Best Practice Guidelines (2018) and National Instrument 43-101 (“NI 43-101”).
Cautionary Statements
Please note that soil, till, and rock samples are selective by nature, and values reported may not represent the true grade or style of mineralization at Golden Rose. Readers are cautioned that these potential grades are conceptual in nature; there has been insufficient exploration by the Company or its Qualified Person to define a mineral resource or deposit; and it is uncertain whether further exploration will result in these targets being delineated as a mineral resource.
The reader is cautioned that descriptions of mineralization reported in this news release are preliminary and/or early-stage results. While these results are considered encouraging, there is no guarantee that they indicate significant mineralization will be intersected in future drilling programs completed by the Company.
Qualified Person Statement and Data Verification
The scientific and technical information disclosed in this news release has been prepared and approved by Paul Ténière, M.Sc., P.Geo., Vice President of Exploration for TRU, and a Qualified Person as defined in NI 43-101.
Mr. Ténière has verified all scientific and technical data disclosed in this news release including the bedrock sampling results and certified analytical data underlying the technical information disclosed. Mr. Ténière noted no errors or omissions during the data verification process and TRU’s Exploration Manager has also verified the information disclosed. The Company and Mr. Ténière do not recognize any factors of sampling or recovery that could materially affect the accuracy or reliability of the assay data disclosed in this news release.
About TRU Precious Metals Corp.
TRU (TSXV:TRU) is on a mission to build long-term shareholder value through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, originally optioned from TSX-listed Altius Minerals. Golden Rose is a regional-scale 264.25 km2 land package, including 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. In addition, TRU has an option to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2 including a 12 km strike length along the Shear Zone within Golden Rose. TRU is approximately 36%-owned by European strategic investor Ormonde Mining plc (AQSE:ORM).
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 companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support through the Junior Exploration Assistance Program and the Federal Government for its critical mineral assistance funding for the exploration activities at the Golden Rose Project.
Forward-Looking Statements
This press release contains certain forward-looking statements, including those relating to exploration plans and mineralization potential at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose and the Company’s drilling and exploration programs and results that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: the exploration potential of Golden Rose and the nature and style of mineralization at Golden Rose; mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Golden Rose; risks inherent in mineral exploration activities; volatility in 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.
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.
TRU Engages Professor Garth Earls As Project Evaluation Advisor
TRU Precious Metals Corp. has engaged Professor Garth Earls to support the Company’s Technical Committee as its Project Evaluation Advisor.
Toronto, Ontario –November 2, 2023 – TRU Precious Metals Corp. (TSXV:TRU) (“TRU” or the “Company”) is pleased to announce that it has engaged Professor Garth Earls to support the Company’s Technical Committee as its Project Evaluation Advisor. Professor Earls’ mandate is to develop a technically-oriented assessment of the development potential of the Company’s gold-copper Golden Rose Project in central Newfoundland (“Golden Rose”), as well as evaluating the technical and economic merit of other natural resources opportunities as they arise.
Professor Earls has over 40 years of professional experience in mineral exploration and mining in Ireland and internationally. He was part of the team that discovered the 6 million ounce Curraghinalt gold deposit in Northern Ireland and has worked extensively on gold and base metal deposits and mineralization in Ireland and the UK. He is a former Director of the Geological Survey of Northern Ireland, former Director of the CSA Group and a past Chairman of the Geosciences Committee of the Royal Irish Academy. He delivers the Economic Geology course in University College Cork, Ireland. He is currently Executive Chairman of International Geoscience Services.
Professor Earls’ relevant experience includes:
Mineral exploration and mining in Ireland and UK, Europe, Africa, South America, North America, Central and Eastern Asia;
Gold and base metals exploration and development appraisal, including Competent Person (Qualified Person) reporting; and
Directorships and governance roles in a range of public and private companies and organizations.
Joel Freudman, TRU’s Co-Founder & CEO, commented, “We are honoured to welcome an expert of Garth’s calibre to our roster, to support and advise our board of directors’ Technical Committee. While the Company just published a National Instrument 43-101 report which consolidates the work to-date on Golden Rose, Professor Earls will provide a broader future-oriented assessment of the discovery potential of our growing number of prospective exploration targets at Golden Rose, and a roadmap for the most effective development of these prospects. In addition, Professor Earls’ expertise will be invaluable in evaluating other opportunities that may arise given difficult overall mining market conditions, as we are cognizant that we may be able to leverage our treasury to increase shareholder value. We look forward to working closely with Garth as we continue to uncover the potential of Golden Rose and enhance TRU’s overall valuation.”
Professor Earls’ services will be provided under a Technical Services Agreement between TRU and its strategic investor and controlling shareholder Ormonde Mining plc (AQSE:ORM), which agreement was considered and approved by TRU’s disinterested directors.
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support through the Junior Exploration Assistance Program and the Federal Government for its critical mineral assistance funding for the exploration activities at the Golden Rose Project.
About TRU Precious Metals Corp.
TRU (TSXV:TRU) is on a mission to build long-term shareholder value through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, originally optioned from TSX-listed Altius Minerals. Golden Rose is a regional-scale 264.25 km2 land package, including a recently discovered 20 km district-scale structure, and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. In addition, TRU has an option to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2 including a 12 km strike length along the Shear Zone within Golden Rose. TRU is approximately 36%-owned by European strategic investor Ormonde Mining plc (AQSE:ORM).
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 companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
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.
Forward-Looking Statements
This press release contains certain forward-looking statements, including those relating to exploration plans at Golden Rose, expected contributions of Professor Earls, and future transaction opportunities. These statements are based on numerous assumptions regarding Golden Rose, the Company’s exploration plans, and corporate strategy 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 Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization at Golden Rose; risks inherent in mineral exploration activities; challenges in identifying suitable transactions, and transaction execution risks; volatility in precious metals prices, financial market conditions, and economic conditions; 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.
TRU Publishes Updated NI 43-101 Technical Report for Golden Rose and Commences Fall Exploration Program
TRU Precious Metals Corp. has filed an updated National Instrument 43-101 technical report for its Golden Rose Project in Central Newfoundland to consolidate all of TRU’s exploration and drilling activities completed at Golden Rose since acquiring the Project in early 2021.
Toronto, Ontario – October 11, 2023 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce that it has filed an updated National Instrument 43-101 (“NI 43-101”) technical report (the “Technical Report”) for its Golden Rose Project (“Golden Rose” or the “Project”) in Central Newfoundland. The Technical Report was prepared by APEX Geoscience Ltd. (“APEX”) and Terrane Geoscience Inc. (“Terrane”) and is titled “NI 43-101 Technical Report on the Golden Rose Project, Newfoundland and Labrador, Canada” with an effective date of October 11, 2023. The Technical Report can be found under the Company’s SEDAR+ profile at www.sedarplus.com.
The purpose of the Technical Report is to consolidate all of TRU’s exploration and drilling activities completed at Golden Rose since acquiring the Project in early 2021, including high-grade discoveries of gold, copper, and silver at multiple new targets, and to provide recommendations for future exploration and development of the Project.
Exploration Update
TRU is also pleased to announce it has recently commenced a fall exploration program at Golden Rose, focused on cost-effectively growing its pipeline of gold and critical minerals prospects and producing additional drill-ready targets. The program will include prospecting, grab (rock) sampling, and reconnaissance soil sampling over interpreted precious and base metal anomalies determined through historical data compilation, and recent ground geophysics and remote sensing programs. Many of the planned target areas have had limited exploration to date.
Paul Ténière, TRU’s Vice President of Exploration commented, “We are very pleased to have filed an up-to-date NI 43-101 Technical Report for Golden Rose. This is the culmination of several months of work by our technical team and independent Qualified Persons to compile the extensive exploration and drilling work completed by TRU since 2021. The Technical Report also includes the results from our recent trenching and channel sampling work at Mark’s Pond and prospecting and sampling work targeting new gold and critical minerals targets along the Cape Ray-Valentine Lake Shear Zone. I would like to thank our team, APEX, and Terrane for their meticulous work and continued technical support as we advance the Project. We encourage our mining and capital markets colleagues to review the Technical Report for a deeper dive on the significant discovery potential unfolding at Golden Rose.”
Qualified Person Statement
The scientific and technical information disclosed in this news release has been prepared and approved by Paul Ténière, M.Sc., P.Geo., Vice President of Exploration for TRU, and a Qualified Person as defined in NI 43-101.
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support through the Junior Exploration Assistance Program and the Federal Government for its critical mineral assistance funding for the exploration activities at the Golden Rose Project.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF) is on a mission to build long-term shareholder value through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, originally optioned from TSX-listed Altius Minerals. Golden Rose is a regional-scale 264.25 km2 land package, including a recently discovered 20 km district-scale structure, and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. In addition, TRU has an option to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2 including a 12 km strike length along the Shear Zone within Golden Rose. TRU is approximately 36%-owned by European strategic investor Ormonde Mining plc (AQSE:ORM).
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 companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
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.
Forward-Looking Statements
This press release contains certain forward-looking statements, including those relating to exploration plans at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose and the Company’s exploration and drilling programs and results 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 Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization at Golden Rose; risks inherent in mineral exploration activities; volatility in 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.
TRU Announces High-Grade Copper and Gold Assays from Summer 2023 Prospecting at Golden Rose, including 7.3% Cu and 54.4 g/t Au
TRU announces high-grade gold and copper results from a recent prospecting and rock (grab) sampling program conducted on the Company’s Golden Rose Project in Central Newfoundland.
Toronto, Ontario – October 3, 2023 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce high-grade gold (Au) and copper (Cu) results from a recent prospecting and rock (grab) sampling program conducted on the Company’s Golden Rose Project (“Golden Rose”) in Central Newfoundland (Figure 1). The summer 2023 prospecting program was focused on the discovery of new gold and critical minerals targets at Golden Rose. These recent high-grade grab sample results continue to prove the rich gold and copper endowment along the highly prospective Cape Ray-Valentine Lake Shear Zones.
Highlights
Three bedrock grab samples collected from the southeastern part of Victoria Lake along the Valentine Lake Shear Zone (“VLSZ”) returned assay values between 0.69 to 2.78 grams per tonne (g/t) Au. This area has had limited exploration to-date.
A newly discovered copper-silver-rich target located less than 2 km north-northeast of the Mark’s Pond target along the Cape Ray Shear Zone (“CRSZ”) returned between 0.53% to 7.33% Cu and 0.9 to 3.3 g/t silver (Ag) from bedrock grab samples. Based on these high-grade copper results, this area is considered a promising critical minerals target for future exploration and may be similar to the Jacob’s Pond target to the west.
Resampling of the Rich House target returned between 2.25 g/t and 54.38 g/t Au and 7.6 g/t Ag in bedrock grab samples, further confirming the high-grade gold and silver present at this target located only 4 km northeast of the Mark’s Pond Gold Zone.
A bedrock grab sample collected approximately 500 m northeast of Wood Lake returned 10.46 g/t Au and a float sample south of Wood Lake returned 9.66 g/t Au.
Significant assay highlights from the grab sampling program are shown in Table 1 and Figure 2 below.
TRU Co-Founder and CEO Joel Freudman commented: “These recent grab sample assay results are encouraging, especially in areas that have not seen much, if any, exploration in the past. We are quite excited about the critical minerals and gold potential in the northeastern part of Golden Rose along the Cape Ray Shear Zone and in the southeastern part of Victoria Lake, and these areas warrant future early-stage exploration at Golden Rose. Our immediate plan is to continue to grow our pipeline of gold and critical minerals prospects at Golden Rose using innovative and cost-effective exploration, geophysical, and remote sensing techniques to produce several additional drill-ready targets beyond what we are already firming up at Mark’s Pond.”
Figure 1: Golden Rose Project Location Map
Figure 2: Assay highlights from the summer 2023 prospecting and grab sampling program at Golden Rose
Table 1: Table of assay highlights from the summer 2023 grab sampling program
Notes: *Samples returning fire assay results >1 g/t Au were analysed using Total Pulp Metallic analysis (screen metallics) to mitigate the nugget effect of coarse visible gold in the samples. NSV - no significant values; CRSZ – Cape Ray Shear Zone; VLSZ – Valentine Lake Shear Zone.
Technical Summary
TRU recently completed its summer 2023 exploration program and collected a number of rock (grab) samples from the Rich House target and Wood Lake area, and at several locations along the Cape Ray-Valentine Lake Shear Zone with minimal to no historical exploration work. Assay highlights from the grab sampling program are shown in Figure 2 and Table 1.
Grab samples collected at Rich House included green-grey to brown altered (quartz-ankerite alteration) metasediments with stockwork quartz veins/veinlets and visible gold, and trace arsenopyrite. Grab samples collected at Wood Lake included fine-grained, green-grey mafic volcanics and pink monzogranite with between 3-5% disseminated pyrite, 1-2% chalcopyrite, and 3% arsenopyrite. Grab samples collected along the CRSZ in the northwestern part of Golden Rose included dark grey to green, strongly chloritized and sheared mafic volcanics with abundant chalcopyrite (3 to >5%), pyrite (2-3%), and minor malachite producing high-grade copper results. Grab samples collected on the southeastern part of Victoria Lake along the VLSZ included medium-grained, green-grey mafic volcanics with abundant pyrite and chalcopyrite and rusty weathered surfaces.
Certain of the Company’s claims at Golden Rose are under option from Quadro Resources Ltd. (the “Optionor”) pursuant to an option agreement between the parties. Under such agreement, the Optionor will retain either a 49% interest or a 35% interest, as the case may be, in such claims depending on the extent, if any, to which TRU exercises its option.
Sampling, QAQC, and Analytical Procedures
All rock (grab) samples were either collected from outcrops (bedrock) or as float samples and put into sample bags with unique sample tags by TRU prospecting and geological staff. The exact location of the collected grab sample was taken using a handheld GPS unit and field notes were taken on lithology, structure, and mineralization. The grab samples were securely transported by TRU staff to either Eastern Analytical’s laboratory in Springdale, NL or SGS Canada’s laboratory in Grand Falls-Windsor, NL. Eastern Analytical and SGS Canada are commercial laboratories that are ISO/IEC 17025 accredited and both independent of TRU. Both laboratories pulverized 1,000 grams of each sample to 95% < 89 μm. Samples were analyzed using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP-OES analysis. Samples sent to the lab with visible gold or assaying above 1.00 g/t Au were further assayed using Total Pulp Metallic analysis (metallic screening) to mitigate the presence of the nugget effect of coarse gold.
Total Pulp Metallic Sieve Procedure: Crush entire sample to approximately 80% (-10 mesh). Total sample is pulverized to approximately 95% (-150 mesh) in 200-300g portions. Sieve all pulverized material through 150 mesh screen. The total (+150 mesh) fraction is all fire assayed as one sample and the weight recorded. The entire (-150 mesh) fraction is rolled to homogenize and stored in a plastic bag. The entire weight of the (-150 mesh) fraction is recorded. A 30g sample is fire assayed from the (-150 mesh) portion. The two fire assay results (+150 and -150 mesh) are calculated (with the total weight of the sample to provide a weighted average of the sample) and the weighted average Au result is reported.
The TRU exploration programs are designed to be consistent with mining industry best practices and the programs are supervised by Qualified Persons employing a QAQC program consistent with requirements under the CIM Mineral Exploration Best Practice Guidelines (2018) and National Instrument 43-101 (“NI 43-101”).
Cautionary Statements
Please note that soil, till, rock, and float samples are selective by nature, and values reported may not represent the true grade or style of mineralization at Golden Rose. Readers are cautioned that these potential grades are conceptual in nature; there has been insufficient exploration by the Company or its Qualified Person to define a mineral resource or deposit; and it is uncertain whether further exploration will result in these targets being delineated as a mineral resource.
The reader is cautioned that descriptions of mineralization reported in this news release are preliminary and/or early-stage results. While these results are considered encouraging, there is no guarantee that they indicate significant mineralization will be intersected in future drilling programs completed by the Company.
Qualified Person Statement and Data Verification
The scientific and technical information disclosed in this news release has been prepared and approved by Paul Ténière, M.Sc., P.Geo., Vice President of Exploration for TRU, and a Qualified Person as defined in NI 43-101.
Mr. Ténière has verified all scientific and technical data disclosed in this news release including the grab sampling results and certified analytical data underlying the technical information disclosed. Mr. Ténière noted no errors or omissions during the data verification process and TRU’s Exploration Manager has also verified the information disclosed. The Company and Mr. Ténière do not recognize any factors of sampling or recovery that could materially affect the accuracy or reliability of the assay data disclosed in this news release.
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support through the Junior Exploration Assistance Program and the Federal Government for its critical mineral assistance funding for the exploration activities at the Golden Rose Project.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF) is on a mission to build long-term shareholder value through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, originally optioned from TSX-listed Altius Minerals. Golden Rose is a regional-scale 264.25 km2 land package, including a recently discovered 20 km district-scale structure, and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. In addition, TRU has an option with Quadro Resources Ltd. to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2 including a 12 km strike length along the Shear Zone within Golden Rose. TRU is approximately 36%-owned by European strategic investor Ormonde Mining plc (AQSE:ORM).
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 companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support through the Junior Exploration Assistance Program and the Federal Government for its critical mineral assistance funding for the exploration activities at the Golden Rose Project.
Forward-Looking Statements
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.
This press release contains certain forward-looking statements, including those relating to exploration plans and mineralization potential at Golden Rose, and to potential transactions with Twilite. These statements are based on numerous assumptions regarding Golden Rose and the Company’s exploration programs and results that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: the exploration potential of Golden Rose and the nature and style of mineralization at Golden Rose; mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Golden Rose; risks inherent in mineral exploration activities; volatility in precious metals prices; challenges in sourcing and executing property transactions; 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.
TRU Extends High-Grade Gold Channel Sampling Results at Golden Rose, Including 14.6 g/t Au over 0.5 m and 5.7 g/t Au over 0.5 m
TRU Precious Metals Corp. reports additional high-grade gold channel sampling assay results from its summer 2023 trenching program at its Golden Rose Project, at the Mark’s Pond target on mineral claims under option from Quadro Resources Ltd.
Toronto, Ontario – September 19, 2023 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to report additional high-grade gold channel sampling assay results from its summer 2023 trenching program at its Golden Rose Project (“Golden Rose”), at the Mark’s Pond target on mineral claims under option from Quadro Resources Ltd. (Figure 1). The 2023 trenching and channel sampling program is a continuation of the trenching program that commenced in fall 2022 at Mark’s Pond and led to the discovery of the Northcott Gold Zone (see press release dated January 12, 2023).
Highlights
The 2023 channel sampling program includes high-grade gold results from the Northcott West Extension trench, including:
14.58 grams per tonne (g/t) of gold (Au) over 0.5 metres (m), 5.73 g/t Au over 0.5 m, 4.05 g/t Au over 0.5 m, and
2.92 g/t Au over 1.1 m including 3.76 g/t Au over 0.6 m.
Channel samples were collected at 0.5 to 1 m intervals within each trench and included QAQC protocols. Samples returning fire assay results >1 g/t Au also underwent total pulp metallics analysis (screen metallics) to mitigate the presence of the nugget effect of coarse gold. Significant channel assay results are shown in Table 1.
The Northcott Gold Zone still remains open along strike to the southwest and northeast and has now been mapped over a 240 m strike length through trenching. TRU plans to continue mapping, prospecting, and infill soil sampling surveys along the contact between the Rogerson Lake Conglomerate and mafic volcanics to identify additional mineralized zones. A drilling plan is also being developed for the Northcott Gold Zone to confirm gold mineralization at depth.
Paul Ténière, TRU’s Vice President of Exploration commented, “These recent channel sample results have confirmed that gold mineralization in the Northcott Gold Zone extends along strike to the southwest at least 145 metres from the main Northcott trench and still remains open to the southwest and northeast. Our immediate plan is to further define this highly mineralized lithological contact to identify additional high-grade mineralized shoots along strike and to generate several drill targets in the Mark’s Pond area.”
TRU collected approximately 400 channel samples from the main Northcott trench, and five additional trenches excavated to the northeast and southwest of the main Northcott trench (Figure 2). This includes the Northcott West Extension trench, which has exposed a further 25 m of the high-grade Northcott Gold Zone along strike to the southwest. Detailed mapping in the Northcott West Extension trench indicates the Northcott Gold Zone is approximately 3-6 m wide at surface, has a known strike length of at least 60 m, and is still open to the northeast and southwest (Figure 3). The high-grade gold mineralization within the Northcott East and West extension trenches is being interpreted as a highly mineralized shoot, the plunge and thickness of which still needs to be confirmed through drilling.
The trenches were also structurally mapped by Terrane Geoscience (“Terrane”) in late May 2023. Terrane concluded that the high-grade gold mineralization in the Northcott Gold Zone is mainly concentrated at the faulted, brittle-ductile deformed contact between the Rogerson Lake conglomerate and mafic volcanic units as the latter rocks are more competent allowing veining and mineralization to occur. Terrane recommended targeting this faulted contact along strike to identify additional gold zones, and drill testing the Northcott Gold Zone at an azimuth to the northwest (normal to the lithological contact) to confirm gold mineralization at depth.
Figure 1: Golden Rose Project Location and Ownership Map
Figure 2: 2022 and 2023 significant channel assay highlights from trenching in the Northcott Gold Zone
Figure 3: Significant channel assay highlights from the Northcott West Extension trench
Table 1: Northcott Gold Zone - 2023 significant channel assay results
Notes:
(1) Refer to Figures 2 and 3 for channel sample locations.
(2) Assay results shown above include both fire assay (FAA) and metallic screening analysis (FSM) results.
(3) Numbers have been rounded.
(4) True width of Northcott Gold Zone is currently unknown.
Technical Summary
The Northcott Gold Zone trenches are located approximately 130 m northwest of the historically drilled, gold-bearing Mark’s Pond Gold Zone. A high-resolution drone (UAV) imagery survey was completed by Insite Surveys of Burgeo, NL over all the trenches capturing the channel sampling locations in precise detail. The drone imagery has been georeferenced for structural mapping purposes and to precisely locate the channel samples for future geological modelling and resource estimation. The true width of the Northcott Gold Zone is unknown at this time. However, the rock units are subvertical indicating sampled widths are likely close to true width, and this will be confirmed during future drilling.
The channel sample assay results continue to indicate that the quartz-carbonate veins and mineralized gold intervals within the Northcott Gold Zone tend to pinch and swell along strike, with high-grade widths ranging between 0.4 to 2.5 m (Figures 2 and 3). Associated alteration includes widespread sericite alteration within the highly strained fault zone and narrow zones of ankerite and chlorite alteration localized to the contact between the Rogerson Lake Conglomerate and mafic volcanic units. As noted earlier, gold mineralization remains open to the southwest and northeast of the current trench limits. TRU plans to continue mapping and prospecting of the mineralized contact between the Rogerson Lake Conglomerate and mafic volcanics to better understand the structural controls on gold mineralization in the Mark’s Pond target area.
The Mark’s Pond target area is among the Company’s claims under option from Quadro Resources Ltd. (the “Optionor”) pursuant to an option agreement between the parties. Under such agreement, the Optionor will retain either a 49% interest or a 35% interest, as the case may be, in such claims depending on the extent, if any, to which TRU exercises its option.
Sampling, QAQC, and Analytical Procedures
All channel samples were cut using portable saws with diamond blades and cleaned thoroughly with fresh water prior to insertion into sample bags by TRU field staff. This trench and sample cleaning process was implemented to eliminate the possibility of sample contamination from overburden (soil and till). The exact location of the channel sample line was taken using a handheld GPS unit and indicated on a hand drawn trench map, and field notes were taken on lithology, structure, and mineralization. The exact locations of the channel samples were later correlated and georeferenced with the high precision drone survey imagery. The channel sampling program included the insertion of QAQC materials (certified reference materials, blanks, and field duplicates) into the sample stream at regular intervals by TRU geologists.
The channel samples were securely transported by TRU field staff to Eastern Analytical Ltd. (“Eastern Analytical”), a commercial laboratory that is ISO/IEC 17025 accredited and independent of TRU. Eastern Analytical pulverized 1,000 grams of each sample to 95% < 89 μm. Samples are analyzed using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP-OES analysis. All samples with visible gold or assaying above 1.00 g/t Au were further assayed using total pulp metallic analysis (metallic screening) to mitigate the presence of the nugget effect of coarse gold.
Eastern Analytical total pulp metallic sieve procedure: Crush entire sample to approximately 80% (-10 mesh). Total sample is pulverized to approximately 95% (-150 mesh) in 200-300g portions. Sieve all pulverized material through 150 mesh screen. The total (+150 mesh) fraction is all fire assayed as one sample and the weight recorded. The entire (-150 mesh) fraction is rolled to homogenize and stored in a plastic bag. The entire weight of the (-150 mesh) fraction is recorded. A 30g sample is fire assayed from the (-150 mesh) portion. The two fire assay results (+150 and -150 mesh) are calculated (with the total weight of the sample to provide a weighted average of the sample) and the weighted average Au result is reported.
The TRU exploration programs are designed to be consistent with mining industry best practices and the programs are supervised by Qualified Persons employing a full QAQC program consistent with requirements under the CIM Mineral Exploration Best Practice Guidelines (2018) and National Instrument 43-101 (“NI 43-101”).
Readers are cautioned that descriptions of mineralization and the channel sample assay results reported in this news release are preliminary and/or early-stage results. While these results are considered encouraging, there is no guarantee that they indicate significant mineralization will be intersected at depth in future drilling.
Qualified Person Statement and Data Verification
The scientific and technical information disclosed in this news release has been prepared and approved by Paul Ténière, M.Sc., P.Geo., Vice President of Exploration for TRU, and a Qualified Person as defined in NI 43-101.
Mr. Ténière has verified all scientific and technical data disclosed in this news release including the channel sampling and QAQC results, and certified analytical data underlying the technical information disclosed. Mr. Ténière noted no errors or omissions during the data verification process and TRU’s Exploration Manager has also verified the information disclosed. The Company and Mr. Ténière do not recognize any factors of sampling or recovery that could materially affect the accuracy or reliability of the assay data disclosed in this news release.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF) is on a mission to build long-term shareholder value through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, originally optioned from TSX-listed Altius Minerals. Golden Rose is a regional-scale 264.25 km2 land package, including a recently-discovered 20 km district-scale structure, and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. In addition, TRU has an option with Quadro Resources Ltd. to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2 including a 12 km strike length along the Shear Zone within Golden Rose.
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 companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support through the Junior Exploration Assistance Program and the Federal Government for its critical mineral assistance funding for the exploration activities at the Golden Rose Project.
Forward-Looking Statements
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.
This press release contains certain forward-looking statements, including those relating to exploration plans and mineralization potential at Golden Rose, and to potential transactions with Twilite. These statements are based on numerous assumptions regarding Golden Rose and the Company’s exploration programs and results that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: the exploration potential of Golden Rose and the nature and style of mineralization at Golden Rose; mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Golden Rose; risks inherent in mineral exploration activities; volatility in precious metals prices; challenges in sourcing and executing property transactions; 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.
TRU Reports on Trenching Progress at Mark’s Pond High-Grade Gold Target at Golden Rose Project Abundant Visible Gold Mineralization Identified in New Trenches
TRU Precious Metals Corp. provides an update on its trenching and channel sampling program at the Mark’s Pond high-grade gold target at its Golden Rose Project located in the highly prospective Central Newfoundland Gold Belt.
Toronto, Ontario – June 7, 2023 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to provide an update on its trenching and channel sampling program at the Mark’s Pond high-grade gold target at its Golden Rose Project (“Golden Rose” or the “Project”) located in the highly prospective Central Newfoundland Gold Belt. Earlier this year, TRU reported high-grade gold channel sampling results from an initial Mark’s Pond trench (refer to TRU press release dated January 12, 2023). Trenching and channel sampling at Mark’s Pond began in mid-May and is expected to continue this month.
Two 50-100 metre (m) long trenches have already been finished approximately 100 m to the southwest and 90 m to the northeast of the main Northcott Zone trench completed last fall. In addition, several 25-30 m long trench extensions or test pits have been added to further expand the known strike length of several gold-bearing graphitic shear zones with quartz-carbonate veins including the newly discovered Northcott Gold Zone (Figure 1). High grade gold mineralization appears to be most prominent at the contact between the Rogerson Lake Conglomerate and mafic volcanic units at this location.
Gold panning of soil and till collected within or on the sides of these new trenches has identified a significant amount of pristine, fine-grained gold grains, especially next to newly uncovered shear zones and rock unit contacts. Visible gold has also been observed in bedrock exposed within these new trenches. Channel samples are being collected at 0.5 to 1 m continuous intervals in each trench (Figure 2) and include QAQC protocols. Assay results for the channel samples are still pending.
Terrane Geoscience Inc. recently completed their structural mapping and analysis of the Mark’s Pond trenches. Their structural analysis will be used for drill hole planning and understanding the subsurface nature of these mineralized and highly deformed shear zones at the contact between the Rogerson Lake Conglomerate and mafic volcanics. A new high-resolution drone (UAV) survey was also completed to capture the new trenches and will also be used for detailed mapping and modeling of the channel samples, rock units, and alteration and mineralized zones at surface. The high-resolution ground Magnetic-VLF data over the Mark’s Pond target area has been received from GroundTruth Exploration and is currently being compiled into GIS and Leapfrog Geo for 3D geological modeling and interpretation.
Combined, the high-resolution Mag-VLF and drone survey data, structural mapping data, and channel sampling results will provide the Company with a high degree of confidence when developing drill hole targets to intercept these mineralized zones at depth.
Once the Mark’s Pond trenching and channel sampling program has been completed, the exploration team will commence detailed prospecting and mapping in the Jacob’s Pond-Twin Ponds area to identify new copper and gold occurrences for future trenching and drilling in this region of Golden Rose.
Paul Ténière, TRU’s Vice President – Exploration commented, “I have been impressed by how quickly and efficiently our exploration team and contractors have completed our trenching and channel sampling program at Mark’s Pond, and this is a direct result of our detailed planning and preparation ahead of the start of our 2023 field season. We are already seeing abundant mineralization in these new trenches and the potential extension of the Northcott Gold Zone along strike for up to 200 metres, which is very exciting news.”
Figure 1: 2023 Mark’s Pond trenching program
Figure 2: West Trench at Mark’s Pond - mineralized quartz vein - containing abundant pyrite and chalcopyrite.
The Mark’s Pond target area is among the Company’s claims under option from Quadro Resources Ltd. (the “Optionor”) pursuant to an option agreement between the parties. Under such agreement, the Optionor will retain either a 49% interest or a 35% interest, as the case may be, in such claims depending on the extent, if any, to which TRU exercises its option.
Finally, the Company is also reporting that on May 29, 2023, it was issued an additional 1,000,000 special warrants convertible into common shares of Eastern Precious Metals Corp. (“Eastern”), for no additional cost, in accordance with the terms of the Company’s option agreement with Eastern (refer to TRU press release dated August 16, 2022). The Company understands that Eastern continues to advance its stock exchange listing process.
Qualified Person Statement
The scientific and technical information disclosed in this news release has been prepared and approved by Paul Ténière, M.Sc., P.Geo., Vice President of Exploration for TRU, and a Qualified Person as defined in NI 43-101.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, originally optioned from TSX-listed Altius Minerals. Golden Rose is a regional-scale 240.25 km2 land package, including a recently-discovered 20 km district-scale structure, and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. In addition, TRU has an option with Quadro Resources Ltd. to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2 including a 12 km strike length along the Shear Zone within Golden Rose.
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 companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Forward-Looking Statements
This press release contains certain forward-looking statements, including those relating to exploration activities at Golden Rose, and to Eastern’s stock exchange listing process. These statements are based on numerous assumptions regarding Golden Rose and Eastern 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 Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization; risks inherent in mineral exploration activities; volatility in financial markets, economic conditions, and precious metals and base metals prices; risks relating to Eastern’s listing process; 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.
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.
TRU Commences Exploration Field Season at Golden Rose Project
TRU Precious Metals Corp. announces the start of its 2023 field exploration season at its 100% owned Golden Rose Project located in the highly prospective Central Newfoundland Gold Belt.
Toronto, Ontario – May 17, 2023 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce the start of its 2023 field exploration season at its 100% owned Golden Rose Project (“Golden Rose” or the “Project”) located in the highly prospective Central Newfoundland Gold Belt.
In March 2023, the Company commissioned GroundTruth Exploration (“GroundTruth”) of Dawson, YT to complete a high-resolution ground magnetometer-VLF (Very Low Frequency) geophysical survey (the “Mag-VLF survey”) over the Mark’s Pond area where the Company reported high-grade gold channel sample results as high as 57.6 g/t Au over 2.5m (refer to TRU news release dated January 12, 2023). The Mag-VLF survey was designed to potentially identify the extent of the shear zone hosting the high-grade Northcott Gold Zone to the northeast and southwest and to further investigate the potential for additional parallel shear zones and mineralized fault structures in the vicinity. The Mag-VLF survey is now complete with final interpreted results expected from GroundTruth within the next 2 to 3 weeks. Final geophysical results will be announced once received.
The TRU exploration team has recently commenced field work at the Mark’s Pond target area including the remaining channel sampling at the trench opened up in fall 2022. This will be followed by the completion of at least 3 to 4 new trenches at Mark’s Pond spaced at least 100 m apart with the aim to potentially trace the Northcott Gold Zone and other parallel shear zones along strike in a NE-SW direction. The Company has also commissioned Terrane Geoscience Inc. (“Terrane”) of Halifax, NS to complete a structural mapping and analysis program at the Mark’s Pond and Jacob’s Pond trenches by the end of May. Terrane will collect structural orientation data and characterize tectonic fabrics, veining, and any other structures that could potentially control mineralization. Combined, these programs aim to develop several priority diamond drill hole targets at Mark’s Pond and Jacob’s Pond (Figure 1).
Paul Ténière, TRU’s Vice President – Exploration commented, “We are very excited to be back at Golden Rose to complete field programs that will further develop the Mark’s Pond target and lead to priority drill hole targets in the short term. The area southwest of Jacob’s Pond and south of Twin Ponds is also a top priority based on the 2022 soil geochemistry results indicating significant copper and gold-in-soil anomalies. We plan to commence exploration work at Jacob’s Pond once our trenching and channel sampling programs at Mark’s Pond have been completed, and we expect to complete detailed prospecting and mapping in this area leading to further trenching and channel sampling programs.”
Figure 1: Golden Rose Project Location Map
The Mark’s Pond target area is among the Company’s claims under option from Quadro Resources Ltd. (the “Optionor”) pursuant to an option agreement between the parties. Under such agreement, the Optionor will retain either a 49% interest or a 35% interest, as the case may be, in such claims depending on the extent, if any, to which TRU exercises its option.
Qualified Person Statement
The scientific and technical information disclosed in this news release has been prepared and approved by Paul Ténière, M.Sc., P.Geo., Vice President of Exploration for TRU, and a Qualified Person as defined in NI 43-101.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, originally optioned from TSX-listed Altius Minerals. Golden Rose is a regional-scale 240.25 km2 land package, including a recently-discovered 20 km district-scale structure, and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. In addition, TRU has an option with Quadro Resources Ltd. to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2 including a 12 km strike length along the Shear Zone within Golden Rose.
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 companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Forward-Looking Statements
This press release contains certain forward-looking statements, including those relating to exploration activities at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose 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 Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization; risks inherent in mineral exploration activities; volatility in financial markets, economic conditions, and precious metals and base 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.
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.
TRU Closes Oversubscribed Non-Brokered Private Placement
TRU Precious Metals Corp. announces the closing of a non-brokered private placement for gross proceeds of $528,500.
THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Toronto, Ontario – May 3, 2023 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce the closing of a non-brokered private placement for gross proceeds of $528,500 (the “Offering”).
Joel Freudman, Co-Founder and CEO of TRU, commented, “The closing of this financing is a testament to the opportunity TRU presents, with strong support from the board and management and other core investors despite challenging market conditions. We’re especially pleased to have secured a large investment from Resurgent Capital Corp., a founding shareholder and long-standing supporter. Their significant investment at this stage of TRU’s growth strongly indicates their belief in TRU’s Golden Rose Project.”
The Company raised gross proceeds of $528,500 from the issuance of 10,570,000 units (“Units”) at a price of $0.05 per Unit. Each Unit is comprised of one (1) common share of the Company (a “Share”) and one (1) Share purchase warrant (a “Warrant”), with each Warrant entitling the holder thereof to purchase one (1) Share at a price of $0.075 for a period of 36 months following the closing date for the Offering.
The net proceeds of the Offering will primarily be used for approximately 1,000 metres of test drilling of high-grade gold zones at the Mark’s Pond target area at the Company’s Golden Rose Project in central Newfoundland (refer to January 12, 2023, press release). A portion of the proceeds from the Offering will also be used for corporate and public company purposes.
Mr. Freudman continued: “Not only are we already starting fieldwork in preparation for an exciting summer drill program, but we’ve also commenced several internal initiatives to optimize our costs and capital structure for a more streamlined organization going forward. Our commitment to building value for our shareholders continues to be a key component of our strategy.”
Subscriptions by insiders of the Company accounted for $150,000 of the gross proceeds of the Offering. Participation by insiders in the Offering is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions by virtue of the exemptions contained in Sections 5.5(b) and 5.7(1)(b).
The securities issued are subject to a statutory hold period expiring September 3, 2023. The Offering is subject to final approval of the TSX Venture Exchange.
Eligible finders received cash commissions equal to an aggregate of $17,600, and an aggregate of 352,000 finder warrants, each of which entitles the holder thereof to purchase one (1) Share at a price of $0.075 for a period of 36 months following the Closing Date.
The securities issued pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
As part of its capital structure optimization efforts, the Company also announces that an aggregate of 5,049,273 stock options and warrants have been voluntarily forfeited by officers, directors, employees and consultants.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, originally optioned from TSX-listed Altius Minerals. Golden Rose is a regional-scale 240.25 km2 land package, including a recently-discovered 20 km district-scale structure, and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. In addition, TRU has an option to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2 including a 12 km strike length along the Shear Zone within Golden Rose.
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 companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
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.
This press release contains certain forward-looking statements, including those relating to the Offering and the use of proceeds thereof, and to exploration activities at Golden Rose. These statements are based on numerous assumptions regarding the Offering and the Company’s 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: financing risk and the risk that the Company will not be able to raise sufficient funds to carry out its business plans; risks inherent in mineral exploration activities; volatility in financial markets, economic conditions, and precious metals prices; regulatory approval processes; 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.
TRU Announces Increase of Private Placement
TRU Precious Metals Corp. announces that due to a significant investment from Resurgent Capital Corp, TRU has increased the size of its previously announced non-brokered private placement financing (see news release dated April 20, 2023) to raise gross proceeds of between $500,000 to $600,000. Insider participation is expected to be in excess of 25% of the offering.
THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Toronto, Ontario – April 26, 2023 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) announces that due to a significant investment from Resurgent Capital Corp, TRU has increased the size of its previously announced non-brokered private placement financing (see news release dated April 20, 2023) to raise gross proceeds of between $500,000 to $600,000. Insider participation is expected to be in excess of 25% of the offering.
The Company is issuing units (“Units”) at a price of $0.05 per Unit. Each Unit will consist of one common share in the capital of the Company (a “Share”) and one Share purchase warrant (a “Warrant”) exercisable for one additional Share at a price of $0.075 for 36 months from the date of issuance.
The Offering is anticipated to close by May 2, 2023. In connection with the Offering, eligible finders will receive (a) a cash commission equal to 8% of the gross proceeds raised from subscribers to the Offering who were introduced by such finder, and (b) such number of non-transferrable finder warrants (“Finder Warrants“) as is equivalent to 8% of the number of Units issued to such subscribers. Each Finder Warrant will entitle the holder thereof to purchase one Share at a price of $0.075 for a period of 36 months following the Closing Date.
All securities issued under the Offering will be subject to a four-month statutory hold period in accordance with applicable securities laws. Completion of the Offering remains subject to TSX Venture Exchange approval.
The securities issued pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, originally optioned from TSX-listed Altius Minerals. Golden Rose is a regional-scale 240.25 km2 land package, including a recently-discovered 20 km district-scale structure, and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. In addition, TRU has an option to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2 including a 12 km strike length along the Shear Zone within Golden Rose.
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 companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
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.
This press release contains certain forward-looking statements, including those relating to the Offering and the use of proceeds thereof, and to exploration activities at Golden Rose. These statements are based on numerous assumptions regarding the Offering and the Company’s 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: financing risk and the risk that the Company will not be able to raise sufficient funds to carry out its business plans; risks inherent in mineral exploration activities; volatility in financial markets, economic conditions, and precious metals prices; regulatory approval processes; 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.
TRU Announces Non-Brokered Private Placement to Fund Drilling of High-Grade Gold Target at Golden Rose Project
TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) announces that it intends to complete a non-brokered private placement for gross proceeds between $250,000 to $500,000.
THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Toronto, Ontario – April 20, 2023 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) announces that it intends to complete a non-brokered private placement for gross proceeds between $250,000 to $500,000 (the “Offering”). The Company intends to issue units (“Units”) at a price of $0.05 per Unit. Each Unit will consist of one common share in the capital of the Company (a “Share”) and one Share purchase warrant (a “Warrant”) exercisable for one additional Share at a price of $0.075 for 36 months from the date of issuance.
The gross proceeds of the Offering will primarily be used for approximately 1,000 metres (m) of test drilling at the Mark’s Pond target area, at the Company’s Golden Rose Project (“Golden Rose”) in central Newfoundland, where a 275 m long trench completed in October 2022 returned significant high-grade gold channel sampling results from the newly discovered Northcott Gold Zone (see press release dated January 12, 2023), including:
57.6 grams per ton of gold (g/t Au) over 2.5 m including 141 g/t Au over 1.0 m;
34.0 g/t Au over 2.0 m including 65.4 g/t Au over 1.0 m; and
23.5 g/t Au over 2.0 m including 90 g/t Au over 0.5 m.
The Company expects to carry out this drill program later this summer, following completion of preparatory fieldwork already underway. A portion of the proceeds from the Offering will also be used for corporate and public company purposes.
The Offering is anticipated to close by May 11, 2023. In connection with the Offering, eligible finders will receive (a) a cash commission equal to 8% of the gross proceeds raised from subscribers to the Offering who were introduced by such finder, and (b) such number of non-transferrable finder warrants (“Finder Warrants“) as is equivalent to 8% of the number of Units issued to such subscribers. Each Finder Warrant will entitle the holder thereof to purchase one Share at a price of $0.075 for a period of 36 months following the Closing Date.
All securities issued under the Offering will be subject to a four-month statutory hold period in accordance with applicable securities laws. Completion of the Offering remains subject to TSX Venture Exchange approval.
The securities issued pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Qualified Person Statement
The scientific and technical information disclosed in this news release has been prepared and approved by Paul Ténière, M.Sc., P.Geo., Vice President of Exploration for TRU, and a Qualified Person as defined in NI 43-101.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, originally optioned from TSX-listed Altius Minerals. Golden Rose is a regional-scale 240.25 km2 land package, including a recently-discovered 20 km district-scale structure, and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. In addition, TRU has an option to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2 including a 12 km strike length along the Shear Zone within Golden Rose.
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 companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
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.
This press release contains certain forward-looking statements, including those relating to the Offering and the use of proceeds thereof, and to exploration activities at Golden Rose. These statements are based on numerous assumptions regarding the Offering and the Company’s 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: financing risk and the risk that the Company will not be able to raise sufficient funds to carry out its business plans; risks inherent in mineral exploration activities; volatility in financial markets, economic conditions, and precious metals prices; regulatory approval processes; 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.
TRU Prioritizes Top Gold and Copper Targets for Second Quarter Exploration Program at Golden Rose Project
TRU Precious Metals Corp. announces its exploration plans for the second quarter of 2023 at its 100% owned Golden Rose Project located in the highly prospective Central Newfoundland Gold Belt.
Toronto, Ontario – March 16, 2023 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce its exploration plans for the second quarter of 2023 at its 100% owned Golden Rose Project (“Golden Rose” or the “Project”) located in the highly prospective Central Newfoundland Gold Belt.
Q2 Exploration Plans
Initial exploration work will focus on three key target areas, specifically:
Mark’s Pond, where the Company recently reported high-grade gold channel sample results as high as 57.6 g/t Au over 2.5m;
Jacob’s Pond, where the Company’s 2022 drill program discovered copper and silver, and the Company recently announced copper-gold-zinc soil sampling results strengthening TRU’s critical minerals potential; and
The Rich House and northeast Victoria Lake area, where historical grab samples at the Rich House target returned up to 189.2 g/t Au at the main mineral occurrence, and visible gold has been previously reported.
Joel Freudman, Co-Founder and CEO of TRU, commented, “2023 is already proving to be a significant year for TRU. The gold-copper potential that we have been steadily and systematically uncovering at Golden Rose is encouraging, as it provides our shareholders with exposure to precious metals as well as critical minerals. Earlier this year, we reported high-grade gold channel sampling results from our Mark’s Pond trench, the key driver behind our latest tuck-in acquisitions to lock up any available real estate around this area. TRU is well-positioned to continue cost-effectively exploring Golden Rose for further discoveries, and importantly, we are fully funded for this segment of work. We remain committed to building Golden Rose into a turn-key project with a strong exploration and discovery pipeline.”
The second quarter work program will consist of prospecting and rock sampling, trenching and channel sampling, and structural mapping at the Jacob’s Pond, Mark’s Pond, and Rich House target areas (Figure 1), with a view towards follow-on drill programs at these targets in summer 2023. In addition, a ground Magnetic-VLF geophysical survey will be conducted over the Mark’s Pond area, to trace the shear zone hosting the high-grade Northcott Gold Zone to the northeast and southwest and to further investigate the potential for additional parallel shear zones and mineralized structures in the vicinity.
An extensive soil sampling and prospecting program will also be conducted near the Rich House area and extend along the southern part of Victoria Lake, within the far northeastern part of Golden Rose located only 8 km southwest of Marathon Gold’s Valentine Gold Project.
Additional Claims Staking
Given the highly prospective nature of these target areas, the Company is also pleased to announce that it has staked three additional mineral claims, increasing its claims holdings by 75 hectares. These non-contiguous claims are located south of the Mark’s Pond high-grade gold discovery, and further consolidate the Company’s extensive land holdings at Golden Rose.
Figure 1: Golden Rose Project Location Map
Qualified Person Statement and Data Verification
The scientific and technical information disclosed in this news release has been prepared and approved by Paul Ténière, M.Sc., P.Geo., Vice President of Exploration for TRU, and a Qualified Person as defined in NI 43-101.
Mr. Ténière has verified all scientific and technical data disclosed in this news release including the assay results underlying the technical information disclosed. Mr. Ténière noted no errors or omissions during the data verification process. The Company and Mr. Ténière do not recognize any factors of sampling or recovery that could materially affect the accuracy or reliability of the data disclosed in this news release.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, originally optioned from TSX-listed Altius Minerals. Golden Rose is a regional-scale 240.25 km2 land package, including a recently-discovered 20 km district-scale structure, and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. In addition, TRU has an option to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2 including a 12 km strike length along the Shear Zone within Golden Rose.
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 companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Forward-Looking Statements
This press release contains certain forward-looking statements, including those relating to exploration activities at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose 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 Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization; risks inherent in mineral exploration activities; volatility in financial markets, economic conditions, and precious metals and base 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.
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.
TRU Strengthens Critical Minerals Potential at Golden Rose with Copper-Gold-Zinc Soil Sampling Results
TRU Precious Metals Corp. announces results from its soil sampling programs completed along the Jacob’s Pond trend at its 100% owned Golden Rose Project located in the highly prospective Central Newfoundland Gold Belt.
Toronto, Ontario – January 26, 2023 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce the results from its soil sampling programs completed along the Jacob’s Pond trend (“Jacob’s Pond”) (Figure 1) at its 100% owned Golden Rose Project (“Golden Rose” or the “Project”) located in the highly prospective Central Newfoundland Gold Belt.
A total of 1,903 soil samples were collected in this region and include sampling completed during the 2022 field season to infill gaps in historical soil sampling coverage. The soil sampling programs were designed to identify new copper-zinc-lead and gold-silver mineralization and provide additional targets for TRU’s 2023 exploration and drilling programs along Jacob’s Pond. This target extends over 4 km and includes low- to high-grade critical minerals and gold-silver occurrences which have strong Induced Potential (IP) geophysical and soil anomalies.
Highlights
TRU has identified strong copper-zinc and gold soil anomalies across Jacob’s Pond, which correspond well with the 2022 diamond drilling results at the Jacob’s Twin sub-target along trend. For example, hole JP-22-10 intersected several mineralized zones containing quartz-carbonate veining and copper mineralization, one of which assayed 1.03% copper (Cu), 0.71 g/t gold (Au), and 24.95 g/t silver (Ag) over 3.0m from 193.45 m to 196.45 m hole depth (refer to news release dated September 22, 2022 - “TRU Opens Up New Copper-Gold-Silver Discovery at Golden Rose”).
These soil sampling results also appear to correlate well with a high chargeability IP anomaly near the sheared contact with a flow banded rhyolite, and combined, these datasets have defined a new copper target between 750 m to 1.2 km southwest of the Jacob’s Twin target.
Soil sampling results have identified at least 8 strong copper and gold soil anomalies up to 3 km west of Jacob’s Pond, potentially defining a prominent southwest-trending mineralized fault structure that will be a major focus for additional prospecting, trenching, and drilling to confirm mineralization in bedrock.
Joel Freudman, Co-Founder and CEO of TRU commented, “We are very pleased with the results of our recent soil sampling programs completed along Jacob’s Pond, which clearly indicate the critical minerals and gold mineralization potential along this promising structural trend. Prominent copper and zinc soil anomalies identified southwest of Jacob’s Pond will be a major focus of our 2023 exploration plan in this region. With current projections for significantly increased demand for critical minerals far overwhelming current supply, we are excited at what may be the beginning stages of TRU being a real participant in Canada’s critical minerals strategy.”
Figure 1: Location of TRU Soil Sampling Programs Along Jacob’s Pond
Technical Summary
Soil sampling results have confirmed significant copper, zinc, lead, and gold anomalies in the Jacob’s Pond, Twin Ponds, and Bear Pond areas at Golden Rose. Soil sampling geochemistry results have proven to be a highly effective exploration tool in identifying bedrock copper, zinc, lead, and gold-silver mineralization in Central Newfoundland. By following up on soil geochemistry anomalies through prospecting, geophysical surveys, trenching, and diamond drilling, significant mineral discoveries have been made throughout the Cape Ray – Valentine Lake structural corridor.
The 2022 Jacob’s Twin soil sampling grid was designed to extend the 2021 grid lines in the Bear Pond to Twin Ponds area an additional 700 to 1,050 m further southeast (Figure 1). Soil geochemistry anomalies identified in 2021 were open to the southeast due to the limited length of the grid lines in this area. During fall 2022, a small follow-up infill soil sampling program was also carried out in an area of heightened interest on the Jacob’s Twin grid, in order to tighten up soil grid line spacing to 50 m.
The soil sampling results have confirmed a new, previously unrecognized area for further exploration southwest of Jacob’s Pond within a splay off the Cape Ray – Valentine Lake Shear Zone, and the presence of an underlying regional structure that may host critical minerals such as copper and zinc, in addition to other minerals including lead, gold, and silver. The soil geochemistry anomalies southwest of Jacob’s Pond appear to correspond with several heavily copper mineralized rock samples collected by TRU in 2022, including one rock sample which assayed 14.3 g/t gold (Au), 11% copper (Cu), 368 g/t silver (Ag) and 0.12% antimony (Sb) (refer to news release dated April 13, 2022 - “TRU Releases Interim IP Survey Results Over Gold and Copper Showings”).
Compiled soil geochemistry anomaly maps for copper, gold, and zinc are shown below in Figure 2 to Figure 4 and include the 2022 drill holes completed by TRU along Jacob’s Pond including the Jacob’s Twin target.
Figure 2: Copper-In-Soil Anomaly Map
Figure 3: Gold-In-Soil Anomaly Map
Figure 4: Zinc-In-Soil Anomaly Map
Sampling and Analytical Procedures
The soil samples were collected at 25 to 50 m spacing along 100 m spaced lines, and wherever possible soil samples were collected from the B-horizon soil layer. Each soil sample location was recorded using a hand-held GPS and the sample placed in a plastic bag with a unique sample ID tag. Soil samples were dropped off at either the SGS Canada (“SGS”) laboratory in Grand Falls-Windsor, NL or the Eastern Analytical Limited (“EAL”) laboratory in Springdale, NL for sample preparation, gold fire assay, and 34-element ICP analysis. Both laboratories are independent of TRU.
The TRU exploration programs are designed to be consistent with mining industry best practices and the programs are supervised by Qualified Persons employing exploration procedures consistent with requirements under the CIM Mineral Exploration Best Practice Guidelines (2018) and National Instrument 43-101 (“NI 43-101”).
Readers are cautioned that the soil sampling results and descriptions of mineralization reported in this news release are preliminary and/or early-stage results. While these results are considered encouraging, there is no guarantee that they indicate significant mineralization will be intersected in future drilling programs.
Qualified Person Statement and Data Verification
The scientific and technical information disclosed in this news release has been prepared and approved by Paul Ténière, M.Sc., P.Geo., Vice President of Exploration for TRU, and a Qualified Person as defined in NI 43-101.
Mr. Ténière has verified all scientific and technical data disclosed in this news release including the soil sampling assay results underlying the technical information disclosed. Mr. Ténière noted no errors or omissions during the data verification process. The Company and Mr. Ténière do not recognize any factors of sampling or recovery that could materially affect the accuracy or reliability of the data disclosed in this news release.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, originally optioned from TSX-listed Altius Minerals. Golden Rose is a regional-scale 239.5 km2 land package, including a recently-discovered 20 km district-scale structure, and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. In addition, TRU has an option to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2 including a 12 km strike length along the Shear Zone within Golden Rose.
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 companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Forward-Looking Statements
This press release contains certain forward-looking statements, including those relating to exploration activities at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose 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 Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization; 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.
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.
TRU Acquires Additional Claims on Trend with Recent High-Grade Gold Discovery at Golden Rose
TRU Precious Metals Corp. is pleased to announce the acquisition of 14 mineral claims at its Golden Rose Project in Central Newfoundland.
Toronto, Ontario – January 19, 2023 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce the acquisition of 14 mineral claims at its Golden Rose Project (“Golden Rose”) in Central Newfoundland. These new mineral claims are located along the same trend as the Company’s Mark’s Pond target, which recently returned high-grade gold (“Au”) channel sampling results including 57.6 g/t Au over 2.5 m, 34 g/t Au over 2 m & 23.5 g/t Au over 2 m (refer to TRU news release dated January 12, 2023).
The Company has completed an asset purchase (the “Acquisition”) of two mineral licenses, comprising an aggregate of 14 mineral claims (the “Acquired Claims”) on 3.5 km2 of land contiguous to Golden Rose, from two arm's length vendors (the “Vendors”) (Figure 1). Transfer of the Acquired Claims into the Company’s name is currently being completed by the governmental mining recorder. The Company had previously engaged one of the Vendors, Stephen Stockley Agriculture and Fabrication Inc. (SSAF Exploration), for exploration work.
Joel Freudman, TRU’s Co-Founder and CEO commented, “We're pleased to begin 2023 by locking up these claims. On January 12th, we reported high-grade gold channel sampling results from our Mark's Pond trench. Those strong gold assays, combined with the results of our bedrock grab sampling at the Rich House target, which returned gold values as high as 16.8 g/t Au, were the impetus for this Acquisition. We believe that our recent high-grade discovery at Mark's Pond could be part of a 4-kilometre structural corridor up to the Rich House target, near the Acquired Claims. As we plan our 2023 exploration programs, the Mark's Pond and Rich House targets will be among our top priorities for further exploration and drilling. As such, the Acquired Claims are an exciting tuck-in acquisition for us, and we look forward to expanding on our recent discovery.”
Figure 1: Golden Rose Project Location and Ownership Map
As consideration for the Acquisition, the Vendors were paid $16,000 cash and were granted a 1% Net Smelter Returns Royalty in respect of the Acquired Claims, which royalty can be fully repurchased for $1,000,000. In addition, in the event TRU delineates a Measured and/or Indicated Mineral Resource Estimate, completed in accordance with CIM and NI 43-101 standards and guidelines, equal to at least 1,000,000 ounces of gold (at a 1 g/t cut-off grade) contained within the Acquired Claims, TRU shall make an additional one-time cash payment of $250,000 to the Vendors.
Qualified Person Statement
The scientific and technical information disclosed in this news release has been prepared and approved by Paul Ténière, M.Sc., P.Geo., Vice President of Exploration for TRU, and a Qualified Person as defined in NI 43-101.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, originally optioned from TSX-listed Altius Minerals. Golden Rose is a regional-scale 239.5 km2 land package, including a recently discovered 20 km district-scale structure, and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project. In addition, TRU has an option to acquire up to an aggregate 65% ownership interest in two claim packages covering 33.25 km2 including a 12 km strike length along the Shear Zone within Golden Rose.
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 companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
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.
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Forward-Looking Statements
This press release contains certain forward-looking statements, including those relating to exploration plans and mineralization potential at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose and the Company’s drilling and exploration programs and results 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 Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization at Golden Rose; risks inherent in mineral exploration activities; volatility in 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.