TRU Provides Update on Flagship Golden Rose Project
Rhea-AI Summary
TRU Precious Metals Corp. (TSXV:TRU)(OTCQB:TRUIF) has provided an update on its flagship Golden Rose Project in Central Newfoundland. In August 2024, the company granted an exclusive option to Eldorado Gold to earn an 80% ownership interest in Golden Rose. This financial backing allows TRU to conduct a detailed review of the project's potential across its 300 sq. km area.
The company is shifting to a 'big picture' perspective, viewing the consolidated land parcels as one entity to develop an updated model of mineralization potential. The initial step involves extracting maximum information from existing data, including infill and geochemical sampling, reinterpretation of magnetic survey data, prospecting, re-mapping, and re-examination of drill core.
TRU is focusing on a 7.5km long by 2km wide 'exploration fairway' between the Mark's Pond zone and the Rich House zone. Initial targeting is expected to be completed by early 2025, with drilling planned to commence immediately after. The company is also running a copper and critical minerals focused exploration program across Golden Rose.
Positive
- Exclusive option granted to Eldorado Gold for 80% ownership interest in Golden Rose Project
- Financial backing from Eldorado allows for detailed review of project potential
- Comprehensive reassessment of existing data to optimize discovery process
- Focused exploration on 7.5km x 2km 'exploration fairway' between Mark's Pond and Rich House zones
- Initial targeting expected to be completed by early 2025 with drilling to follow
Negative
- None.
TORONTO, ON / ACCESSWIRE / October 22, 2024 / TRU Precious Metals Corp. (TSXV:TRU)(OTCQB:TRUIF)(FSE:706) ("TRU" or the "Company") is pleased to provide an update on its flagship Golden Rose Project ("Golden Rose"). In August 2024, the Company completed the granting of an exclusive option (the "Option") to Eldorado Gold Corporation ("Eldorado") to earn an
The financial backing of Eldorado, via the Option, is affording TRU the ability to undertake a detailed review of the potential of Golden Rose. The claims that comprise Golden Rose were consolidated over several years, and TRU is now conducting a project wide exercise to understand and update the discovery potential for gold and other minerals across the 300 sq. km project area. The review will methodically apply geoscience and exploration practices across the entire property package.
TRU CEO Steve Nicol commented: "TRU is shifting to a "big picture" perspective of Golden Rose viewing the complete consolidated land parcels and claims as one entity to facilitate the development of an updated model of mineralization potential for the entire property, aimed at optimising the discovery process. TRU is focused on efficiently discovering the full gold and copper potential that may exist at Golden Rose."
The objective of the initial step in this methodical process, designed in conjunction with Eldorado, is to extract the maximum information and knowledge from existing project data which will be reassessed and verified, then infilled and updated or improved where required. This work, which has already commenced, includes infill and geochemical sampling, reinterpretation of magnetic survey data, prospecting, re-mapping, and re-examination of drill core.
The wealth of information generated from this process will feed into preparation of a revised and refined geological and structural site-wide model, which will be utilized to generate a pipeline of quality drill targets across the propertyfor prioritization and drilling.
While it is expected that this rigorous and methodical assessment will result in the identification of multiple targets across the property, it is initially being focused on the northeast-trending ‘exploration fairway' between the Mark's Pond zone and the Rich House zone (7.5km long x up to 2kms wide; Figure 1). Initial targeting in this area is expected to be completed by early 2025 with drilling planned to commence immediately thereafter.
Figure 1: Initial Exploration Fairway at Golden Rose
In parallel, and as previously announced, (see news release July 16, 2024), the Company has been running a copper and critical minerals focused exploration program across Golden Rose. Results from this program will be reported when work is complete, and all assay results have been received.
The scientific and technical information disclosed in this news release has been prepared and approved by Joel Cranford, P.Geo., Project Geologist for TRU, and a Qualified Person as defined in NI 43-101.
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. The company's flagship project is the Golden Rose Project a regional-scale 300.25 km2 land package in Central Western Newfoundland (includes a 33.25 km2 package of claims over which TRU has an option with TSX-listed Quadro Resources to acquire up to an aggregate
TRU is approximately
For further information about TRU, please contact:
Steve NICOL
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:
X (formerly Twitter): https://twitter.com/TRUMetals
YouTube: https://www.youtube.com/@TruMetalsCorp
LinkedIn: https://www.linkedin.com/company/tru-precious-metals-corp/
Instagram: https://www.instagram.com/TRUMetals/
Facebook: https://www.facebook.com/TRUMetals/
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support through the Junior Exploration Assistance Program and the Federal Government for its critical mineral assistance funding for the exploration activities at Golden Rose.
Forward-Looking Statements
This press release contains certain forward-looking statements, including those relating to exploration and drilling plans at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose, the Company's exploration programs and results, and commodities prices 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 at Golden Rose; risks inherent in mineral exploration activities; volatility in precious metals and base metals prices; volatility in economic conditions and financial markets; 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.
This press release is solely the responsibility of TRU, and Eldorado is not in any way responsible or liable for the contents hereof.
Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: TRU Precious Metals Corp.
View the original press release on accesswire.com
FAQ
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