Tru Precious Metals channel samples 57.6 g/t gold over 2.5 metres at Golden Rose, Newfoundland
Tru Precious Metals Corp. [TRU-TSXV; TRUIF-OTCQB] reported high-grade channel sampling results from a recent trenching program conducted on Tru’s claims under option from Quadro Resources Ltd. [QRO-TSXV] at Tru’s Golden Rose project in central Newfoundland. The channel sampling program was completed on the Mark’s Pond target located along the deposit-bearing Cape Ray-Valentine Lake shear zone, where the company recently announced results of a grab sampling program that indicated high-grade gold potential.
Tru collected 159 channel samples within the recently excavated 275-metre-long trench, including 85 samples within a 23-metre-long easterly extension at the southern end of the trench along strike of a visible gold-bearing volcaniclastic and graphitic shear zone. This newly discovered high-grade gold zone has been named the Northcott gold zone to recognize the significant discoveries made by prospector Ed Northcott in this area.
Highlights: The Northcott gold zone is a significant gold discovery for Tru within a newly uncovered brittle-ductile shear zone located 130 metres northwest of the Mark’s Pond gold zone. This 2-3-metre-wide, northeast-trending shear zone contains abundant visible gold within quartz-carbonate veins and the surrounding wall rock.
Significant channel sample gold results from the Northcott gold zone include 57.6 g/t gold over 2.5 metres, including 141 g/t Au over 1 metre; 34 g/t Au over 2 metres, including 65.4 g/t Au over 1 metres; 23.5 g/t Au over 2 metres, including 90 g/t Au over 0.5 metres.
Channel samples in the Northcott gold zone were collected at 0.5-metre to one-metre intervals within 14 transects along a 23-metre-long northeast strike-line.
The Northcott gold zone remains open along strike to the southwest and northeast. Tru plans to extend the trench further in both directions, and complete detailed structural mapping of the entire trench and additional channel sampling in spring, 2023, prior to drilling this zone.
Paul Teniere, vice-president of exploration, commented: “This is a very exciting time for Tru and these excellent gold assay results from our recent channel sampling program help confirm our belief that the newly discovered Northcott gold zone is part of a larger scale, gold-endowed structural corridor located within the Mark’s Pond target area, and potentially extending to the Rich House target 4 km northeast. The Northcott gold zone is not far from the high-grade Mark’s Pond gold zone, and we anticipate further gold discoveries along strike and to the northwest. The Mark’s Pond-Rich House targets will be considered a high-priority for our 2023 exploration program at Golden Rose, including additional trenching, channel sampling and drilling.”
Tru is a portfolio company of Resurgent Capital Corp., a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and prepublic microcapitalization companies listing on Canadian stock exchanges.