Treasury Metals drills 10.5 m of 7.47 g/t Au at Goliath
Treasury Metals drills 10.5 m of 7.47 g/t Au at Goliath
2010-06-21 13:44 ET – News Release
Mr. Scott Jobin-Bevans reports
TREASURY METALS INTERSECTS 10.50 METRES OF 7.47 G/T GOLD AND CONTINUES TO DEFINE MULTIPLE HIGH-GRADE GOLD STRUCTURES ON THE GOLIATH GOLD PROJECT
Treasury Metals Inc. has released further high-grade gold assay results from its recently completed plus-5,000-metre diamond drilling program targeting and defining high-grade gold structures on its Goliath gold project. The 100-per-cent-owned Goliath gold project is located alongside the Trans-Canada Highway about 20 kilometres east of Dryden, Ont.
These latest results are from drill holes that were designed to further test and delineate two separate, high-grade gold structures located in the east and west regions of the Thunder Lake gold deposit. Drilling on the eastern structure returned multiple intersections of greater than six grams per tonne gold. Of note is drill hole TL10-98 that intersected 10.50 metres of 7.47 grams per tonne Au, including 1.50 metres of 20.79 g/t Au, confirming the high-grade nature of this deposit. Further drilling is required to delineate these high-grade structures and the areas of lower-grade gold between these structures. Previous drilling has confirmed vertical continuity of high-grade gold-bearing structures to depths of more than 800 metres. The Thunder Lake gold deposit is open at depth and along strike to the west and northeast.
Scott Jobin-Bevans, Treasury’s president and chief executive officer, said: “There are multiple high-grade gold structures within the Thunder Lake gold deposit and these have yet to be fully defined. In addition, there is good evidence for additional structures within the deposit itself and to the west and northeast of the deposit, outside of the current resource. So we see excellent potential to continue to build ounces both within and outside of the existing mineral resources. In the current round of drilling we focused on defining some of the known high-grade gold structures and on upgrading resources from inferred to indicated; a necessary step in moving the project toward prefeasibility and ultimately into production. I am pleased to see that we continue to intersect excellent gold grades over potentially economic widths and we look forward to the results of our preliminary economic assessment.”
SIGNIFICANT GOLD INTERSECTIONS
From To Interval(ii) Au
Drill hole (m) (m) (m) (g/t)
TL10-96 116.00 118.00 2.00 4.04(i)
Including 117.00 118.00 1.00 5.96(i)
TL10-97 228.00 231.00 3.00 4.59
Including 228.00 229.50 1.50 6.11
TL10-98 274.50 285.00 10.50 7.47(i)
Including 274.50 276.00 1.50 16.15
Including 279.00 280.50 1.50 20.79
Including 280.50 282.00 1.50 7.86(i)
TL10-100 300.00 315.00 15.00 5.74(i)
Including 310.50 313.50 3.00 23.83(i)
Including 312.00 313.50 1.50 42.59(i)
TL10-102 130.00 131.50 1.50 6.55
TL10-102 352.50 358.50 6.00 3.38
Including 354.00 355.50 1.50 7.73
