Treasury Metals Inc. [TML-TSX; TSRMF-OTCQX; TRC1-FSE] reports the first results at the Caracal target, which was part of the Wild Cat exploration program testing new targets on the Goldlund property identified by the Treasury Metals geology team in 2021. On February 17, 2022, the company released results on the Wild Cat “sister” target Ocelot. These targets were tested based on a series of geophysical anomalies on the Goldlund structural trend northeast of the Goldlund deposit and had seen no historical drilling prior to the 2021 campaign. The Goldlund deposit is part of the 100%-owned Goliath gold complex.
Highlights included drill hole CC-21-006 that intersected 1.04 g/t gold over 28.4 metres, including 2.70 g/t gold over 7.0 metres, which includes 4.44 g/t gold over 1.0 metre and 9.14 g/t gold over 1.0 metre and 7.12 g/t gold over 1.0 metre. Hole CC-21-009 intersected 0.48 g/t gold over 7.0 metres, including 1.74 g/t gold over 1.0 metre and also intersected 3.84 g/t gold over 1.0 metre.
Jeremy Wyeth, President and CEO, commented: “It is exciting to see additional positive results from another one of the generative targets from our 2021 exploration campaign. The discovery at Caracal illustrates that the geology team at Treasury has been able to calibrate our geological models to be able to see repeated successes in the discovery of new targets. Caracal is another target on the Goldlund property that had not seen any historic drilling activity and further shows the first-class exploration potential across the 330 km2 Goliath Gold Complex.”
The company will return to the Caracal target during the 2022 drill program to follow up and expand on these results. Additional results from the 2021 exploration program will be released as available.
Treasury’s Goliath gold complex, which includes the Goliath, Goldlund and Miller deposits, is located in northwestern Ontario. The deposits benefit substantially from excellent access to the Trans-Canada Highway, related power and rail infrastructure, and close proximity to several communities including Dryden, Ontario.