TSX:TML
TORONTO, Oct. 29, 2012 /CNW/ - Treasury Metals Inc. has recommenced its
2012 drilling program at its 100% owned Goliath Gold Project, situated
near the community of Wabigoon and 20 kilometres east of the City of
Dryden, Ontario.
Focus of the 2012 Q4 Exploration Program Includes:
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Primary focus is infill and expansion drilling in the central and
western portion of the current resource area, designed to increase the
resource size and upgrade Inferred resources into the Indicated
category
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The program will also include drilling of a number of prospective
targets on a newly acquired property (see press release dated October 18, 2012) that is adjacent to the current deposit. This new property is contiguous
to, and located along strike of the eastern end of the mineral resource
at Goliath and its recent acquisition provides first-time access for
drilling to an additional 1.6 kilometres of potential deposit strike
length. In addition, recent drilling results along the eastern end of
the resource, where a new mineralized shoot was identified in previous
drilling (see press release dated August 22, 2012), is interpreted to project towards the northeast section of this newly
acquired property which has the potential to add additional ounces to
the overall resource. Further, previous drilling has identified a
number of high-grade gold mineralized intersections along its northern
boundary.
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The final component of the program will test a select number of
prospective targets along the eastern margin of the current resource
area where recent drilling has demonstrated attractive high-grade
intercepts in a horizon interpreted to lie in the footwall to the C
Zone.
The program has commenced on the central west portion of the resource
area. Initial assay results will be released in batches similar to the
dissemination of results from the 2011 program.
The Company will resume drilling with the services of Distinctive
Drilling Services Inc. Distinctive completed the Company's 50,000
metres of in-fill and expansion drilling in 2011 and 1st phase of the 2012 exploration program focused outside of the current
mineral resource area totaling 16,000 metres.
Treasury has also recently commenced a drilling program at its 100%
owned Goldcliff Project, located approximately 40 kilometres
south-southeast of the City of Dryden, Northwestern Ontario in the
Kenora Mining District (see release dated October 15, 2012). The new exploration program at Goldcliff has been designed to test a
number of drill targets.
Technical information in this press release has been reviewed and
approved by Mr. John J. Chulick, a consulting geologist registered in
the State of California, who is the Qualified Person for the Goliath
Gold Project under the definitions established by National Instrument
43-101.
To learn more about Treasury Metals, please visit the Company's website
at www.treasurymetals.com.
Forward-looking Statements
This release includes certain statements that may be deemed to be
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address events or
developments that management of the Company expect, are forward-looking
statements. Actual results or developments may differ materially from
those in forward-looking statements. Treasury Metals disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, save and except as may be required by applicable securities
laws.
SOURCE: Treasury Metals Inc.
