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True Gold Mining Inc
Symbol TGM
Shares Issued 264,437,334
Close 2013-08-21 C$ 0.34
Market Cap C$ 89,908,694
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True Gold Mining drills four m of 5.8 g/t Au at Liguidi

2013-08-22 07:04 ET - News Release

Mr. Dwayne Melrose reports

TRUE GOLD EXPLORATION PROGRAM IDENTIFIES WIDESPREAD NEAR-SURFACE GOLD AT LIGUIDI

True Gold Mining Inc.'s recently completed exploration program at the company's Liguidi project in Burkina Faso has returned widespread near-surface gold mineralization and expanded the project's main gold-in-soil anomaly to 17 kilometres in length.

The exploration program included 3,680 metres of reverse circulation drilling over a 1.8-kilometre strike length at the Lagare's zone, in the central portion of Liguidi's main gold-in-soil anomaly. Lagare had returned highly anomalous gold in prior grab and trench sampling, and in rotary air blast and RC drill campaigns in 2012. The current RC program returned encouraging results, with mineralization intersected in 23 of 24 holes. Highlight results include:

  • 5.81 grams per tonne gold over four metres, in LMG-13-RC-041;
  • 3.91 grams per tonne gold over four metres, in LMG-13-RC-034;
  • 2.23 grams per tonne gold over eight metres, in LMG-13-RC-048;
  • 2.12 grams per tonne gold over eight metres, in LMG-13-RC-037;
  • 1.05 grams per tonne gold over 12.0 metres, in LMG-13-RC-046;
  • One gram per tonne gold over eight metres, in LMG-13-RC-056.

"Liguidi exploration work continues to return extensive near-surface gold mineralization throughout the property, enhancing its status as a pipeline project with strong potential to contribute significantly to True Gold's long-term growth," said Dwayne Melrose, president and chief executive officer, True Gold.

In addition to work at Lagare, True Gold completed detailed geological mapping and geochemical sampling on the anomaly's four-kilometre southwest grid, collecting 3,539 soil samples in the area. A new zone of mineralization (Dayilba) was discovered during the course of the survey. It returned an average grade of 0.56 gram per tonne gold to a maximum of 22 grams per tonne gold from 195 grab samples, and extended the main gold-in-soil anomaly an additional four kilometres to the southwest for a total length of 17 kilometres.

"The results of this exploration program significantly expand the footprint of the gold mineralizing system at Liguidi and reinforce the potential to find further near-surface oxide gold throughout the property," said Ian Cunningham-Dunlop, senior vice-president of exploration, True Gold. "To date, we have only carried out focused exploration over a small portion of the overall Liguidi anomaly, with many priority targets yet to be drill tested."

True Gold holds a 100-per-cent interest in the Liguidi project, which is located 125 kilometres southeast of the capital city of Ouagadougou and consists of a single exploration permit totalling 168 square kilometres. It is underlain by the Birimian-age Manga greenstone belt and lies within the northeast-trending Markoye structural zone, a significant regional feature hosting Iamgold's Essakane mine, High River Gold's Tarparko-Bouroum mine, Orezone's Bombore deposit and Volta Resources' Kiaka deposit. A prominent northeast-trending shear zone, interpreted to be a splay off the Markoye fault, runs through Liguidi from the southwest to the northeast corner of the permit and is coincident with the main gold-in-soil anomaly.

The 2013 RC drilling tested a strike length of 1.8 kilometres at Lagare's on approximately 125-metre centres, to an average depth of 150 metres at 335 degrees azimuth and minus 45 degrees dip. The holes targeted shear-hosted gold mineralization within the main northeast-trending Liguidi Shear and plunging intersections between the shear zone and east-west-trending extensional quartz veins, a setting similar to other deposits of this class within Burkina Faso.

Ian Cunningham-Dunlop, PEng, senior vice-president, exploration, is the company's designated qualified person for this news release within the meaning of National Instrument 43-101, and has reviewed and verified that the technical information contained in this release is accurate and approves of the written disclosure of same. True widths are estimated to be 50 to 90 per cent of the intersected widths.

Samples were assayed by ALS Chemex in Ouagadougou, Burkina Faso. Assays were by fire assay with AAS finish and repeats of all AAS assays over five grams per tonne by fire assay with gravimetric finish. Control samples (accredited standards, blanks and duplicate samples at the preparation stage) were inserted on a regular basis every 10 samples. Results were monitored on receipt of assays.

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