TriMetals Mining Inc, (the "Company"), is pleased to announce results from the next 7 holes in the ongoing 40 plus hole drill program at Gold Springs within Nevada and Utah. Drilling this year is focused on both the continued expansion of the "bulk tonnage" heap-leachable resource on the 8 kilometre Jumbo Trend including the southern extension at the Etna target, and the search for high grade (2-3 g/t gold) vein material in the Thor Vein System which is highlighted by a 1.6 kilometre long geophysical anomaly and numerous surface vein exposures.
This release details seven additional holes from the Thor Vein System and reviews our knowledge to date in this area.
TMI now has 19 near-surface drill hole vein intercepts (including the non-43-101 compliant historical information) over approximately 400 metres of strike length, and additional outcrop sampling showing the vein continuity and grade.
The present drill program of 10 RC holes on the Thor target together with 7 historic intercepts has established the continuity of a 400 m segment of the Thor "high-grade" vein system. Geophysics indicate that the entire system may extend for 1.6 km and the drill results, surface geology and sampling indicate there may be more than one mineralized vein zone within the system.
All the new holes intersected mineralized vein material with widths and grades varying between 1.5 to 14 m and grades of 0.68 g/t to 44.7 g/t gold. These relatively narrow higher-grade veins are of interest as a potential part of a higher-grade resource for a starter pit because they outcrop at the surface or are projected to sub-crop just below a thin gravel layer. If shown to be commercially viable, it is expected that they would be extracted by digging a very shallow 50 m deep, narrow, and long open pit or "slot" cut. Geological mapping and outcrop sampling indicates there is a second and possibly third zone of veining in this 400 metre segment that parallels the reported vein zone. These veins located some 50-100 metres further east are presently being trenched prior to drilling later in the season.
There are also several targets a few hundred metres further south in the Thor Vein System that may be of a similar type to the 7 oz/t gold intercept that TMI discovered in RC hole T-16-001 which was recently reported (PR 16-20 of August 30, 2016) at the south end of the 400 m segment. These areas include a sub-crop sample that assayed 99 g/t gold (sample no. 42161). It is planned to drill these targets later in the season.
Ralph Fitch President and CEO stated that, "These results are very promising for the development of an at-surface, higher-grade resource that could be used for a starter-pit and which has the potential to positively impact the already robust project economics described in our PEA dated August 12, 2015. The potential to discover additional high-grade intercepts similar to the 7 oz/t gold intercept previously reported in RC hole T-16-001 is also an exciting new development for the project."
The table below shows the intercepts within this 400 m long segment of the Thor Vein System.
- True width 70-95% of width shown. Average grade uses a 0.1 g/t AuEq cutoff. Gold Equivalent (AuEq) uses a Ag/Au price ratio of 61.9 and assumes 100% metallurgical recoveries.
- These drill holes are historic, drilled by Energex between 1985 and 1988, are believed to be reliable but were drilled prior to NI 43-101 requirements.
Drill hole T-16-006 intersected weak mineralization and is not listed on the table above.
The next press release will report on the drilling at the South Jumbo Zone where resource expansion drilling is presently ongoing.