TRU Precious Metals receives Golden Rose drill permit, Newfoundland
TRU Precious Metals Corp. [TSXV-TRU; OTCQB-TRUIF; FSE-706] has received an outstanding drill permit and accordingly has satisfied all preconditions to the definitive earn-in agreement transaction with Eldorado Gold Corp. [TSX-ELD; NYSE-EGO]. Under the option agreement, 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.
Steve Nicol, CEO, 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.”
TRU is exploring for gold and copper in the 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.
TRU is approximately 36%-owned by European strategic investor Ormonde Mining PLC.