TRU Releases Interim IP Survey Results Over Gold and Copper Showings
Toronto, Ontario – April 13, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF; FSE:706) (“TRU” or the “Company”) is pleased to announce preliminary results of its Induced Polarization (”IP”) survey at the Company’s flagship Golden Rose Project (“Golden Rose”), further to its announcement of February 9, 2022.
TRU VP of Property Development and Director Barry Greene commented: “Since we first acquired Golden Rose in 2021, the Jacob’s Pond area stood out as being particularly prospective, requiring serious exploration attention. Prospector Shawn Rose did a good job of highlighting an anomalous trend from surface sampling over about 1 km as a starting point for TRU. In 2021 TRU expanded upon the surface sampling. Having now lived with the project for about a year, I believe that the IP data is firmly upgrading that trend in three dimensions, and the surface samples could be just the tip of the iceberg. We are pleased to have now developed many drill and trench targets over a 2 km stretch which will be our focus as the field season approaches.”
Highlights Include:
The two Jacob’s Pond bedrock gold showings, including a three-meter-wide quartz vein breccia system, have been directly detected by the IP as high-resolution chargeability zones that are larger at depth. Bedrock mineralization grading 3.9 grams per tonne (g/t) gold and 5.61 % copper in a grab sample appears to be directly associated with a large IP anomaly.
A large and strong chargeability high located 900 metres southwest of the Jacob’s Pond gold showings occurs directly below a cluster of three angular high grade float samples. A 2021 grab sample of this material by TRU personnel assayed 14.3 g/t gold, 368.0 g/t silver and 11.0% copper. (See TRU press release dated November 24, 2021, for additional details.)
The IP survey has now identified a continuous chargeability high, trending over approximately 2 km along strike, directly associated with a regional multi kilometer copper and gold soil anomaly. IP data has now been collected up to line 43 (see figure 1).
The strong IP chargeability appears to broaden at depth and is continuing to the northeast approaching the Rose Gold bedrock showing, where historic grab sampling returned 20.3 g/t gold, 1.79% copper and 5.3 g/t silver in a grab sample from a hand trench.
TRU Co-Founder and CEO Joel Freudman added: “We are pleased that our extensive IP work is yielding such positive results and delineating prospective drill targets at Golden Rose. Work to date has significantly increased our understanding of the geological model and will help focus our ongoing exploration and tap into what we now believe is a treasure trove of gold and copper targets. In late November of 2021 we announced the discovery of this highly prospective new 20 km district-scale structure at Golden Rose, in addition to the 45 km section of the Valentine Lake Shear Zone transecting Golden Rose, and so we believe our real estate only continues to appreciate as we diligently and methodically work to unearth the tremendous value at Golden Rose.”
TRU is very encouraged by the early results from the IP survey over the Jacob’s Pond area, which in turn forms a part of the greater than 20km long gold soil anomalous trend identified by TRU as disclosed on November 24, 2021. This Jacob’s Pond section of the IP survey is being carried out on the newly emerging segment of what appears to be a continuation of the Cape Ray Shear Zone.
Figure 1 – Plan View of IP Lines with Mineral Occurrences and Copper/Gold in Soils
Figure 2 – Selected IP Sections with Mineralized Samples
None of the unfolding targets have ever been mechanically trenched or drilled and the area remains a raw grassroots discovery of potentially considerable size.
TRU retained Simcoe Geoscience Limited (“Simcoe”) to deploy Simcoe’s next-generation wireless, high-definition Alpha IP technology at Golden Rose. The IP survey is covering newly-defined plus underexplored historical gold exploration targets. The survey will comprise approximately ¬¬¬56 line kilometre (km) of wireless time domain induced polarization using Simcoe's Alpha IP™ system. The use of wireless technology substantially reduces the footprint of the survey and the time required as line cutting is not required. The survey is expected to be completed in approximately thirty days.
National Instrument 43-101 Disclaimers
Note that soil, 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 at Golden Rose to define a mineral resource or mineral reserve; and it is uncertain whether further exploration will result in these targets being delineated as a mineral resource or mineral reserve.
The reader is cautioned that descriptions of mineralization, soil anomalies and IP anomalies reported in this news release are preliminary and/or early-stage results. While these features are considered encouraging, there is no guarantee that these features will return significant gold and/or copper values when drilled.
Qualified Person
Barry Greene, P.Geo. (NL) is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the contents and technical disclosures in this press release. Mr. Greene is a director and officer of the Company and owns securities of the Company.
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. Currently TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including 45 kilometres 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.
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
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 relating to exploration activities at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose, and the Company’s exploration and drilling 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: 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 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.