Dec 22 2015
TriMetals Mining Inc., is pleased to announce that it has just completed a 14-hole reverse circulation drill program at the Jumbo target at Gold Springs on the Nevada/Utah border. Geological observation of the drill chips indicates that drilling continues to intercept the mineral system. Samples have now been sent to the assay laboratory with results expected in late January.
Ralph Fitch, CEO, stated, "We are very pleased with the drill program which continues to expand the footprint of the large mineral system at the Jumbo Target in Utah and this program still has not found the outer limits of the mineral system. We are still only drilling the second of 26 outcropping gold targets on our large property position and, as disclosed in prior press releases, we already have a substantial resource. We continue to hold 100% of this property and which is subject to little or no royalty, off-take agreements, liens or any other encumbrance."
The drill program consisted of 14 holes of approximately 3,100 metres and was planned to look for extensions of Jumbo mineralization to depth, to the North and South and to the East under cover rocks.
The second item of good news is that the Company has successfully renegotiated, at no additional cost, its option agreement (the "Boezio Option") to acquire the remaining 4,689 hectares of the large Escalones copper-gold porphyry property located in Chile which are not already 100% owned by the Company. Pursuant to the Boezio Option, as revised, the Company has now the right until June 30, 2020 (formerly June 30, 2018) to purchase the claims. Under the newly agreed calendar, the next option payment to the owner of $400,000 is now due on June 30, 2017 (formerly December 31, 2015).
Source: http://www.trimetalsmining.com/