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TriMetals Mining Inc
Symbol TMI
Shares Issued 135,738,714
Close 2014-08-26 C$ 0.205
Market Cap C$ 27,826,436
Recent Sedar Documents

TriMetals drills 21 m of 0.59 g/t AuEq at Gold Springs

2014-08-27 06:19 ET - News Release

Mr. Ralph Fitch reports

TRIMETALS MINING INC. PLANS THE CONTINUATION OF THE DRILL PROGRAM AT THE GOLD SPRINGS PROJECT AND REPORTS RESULTS OF DRILLING AT GREY EAGLE

TriMetals Mining Inc. has continued its drill program at the Gold Springs gold-silver project in the mining-friendly jurisdictions of Nevada and Utah. Now that results have been received and analyzed from the first round of 2014 drilling, TMI is planning a second round of drilling, to start in early September that will follow up the earlier reported drilling in the Jumbo target which includes a National Instrument 43-101-compliant mineral resource. The first round of 2014 drilling at Jumbo identified higher grades in a continuous zone of mineralization extending 300 metres which is open to expansion. The next phase of drilling will look to expand this new zone down dip and along strike with the intension to add to the current resource.

Ralph Fitch, president and chief executive officer of TriMetals Mining, stated: "The next series of holes at Jumbo are designed to expand the 'higher-grade' zone intersected in the first round of 2014 drilling. This drill program will be seeking to intersect this same style of mineralization as seen in the earlier holes over an additional strike length of 400 metres which would potentially expand this zone to a 700-metre strike length. Any success here in locating further higher-grade mineralization will be an important addition to the Jumbo resource block and the project."

The continuing 2014 program at Gold Springs will include further reverse circulation drilling at Jumbo, designed to expand the resource, and two to four diamond drill holes on both the Jumbo and Grey Eagle resource blocks to provide metallurgical, density and detailed geological information. The large-sized drill core (H size) will enable metallurgical column tests of up to 1.5-inch material which will give very valuable information regarding gold and silver recoveries in the heap leach setting.

The program will continue the permitting process and move to complete the plan of operations on the Utah side of the project. The company is already operating under a plan of operations on the Nevada side of the project.

Mr. Fitch went on to say: "The Grey Eagle results reported below confirm the shape of the mineralized zone but limit its expansion potential to the immediate south due to faulting and erosion. This does not however, preclude expansion potential further to the west or north. Future drilling will test these areas.

"It's good to remember that we are still drilling the first two (three including the first few holes at Etna) of 18 areas of outcropping gold mineralization which does not include the many additional kilometres of buried geophysical targets. In fact we estimate that less than 10 per cent of the prospective areas at Gold Springs have been drilled, so there is a significant opportunity to expand the areas of gold-silver mineralization through drilling, further enhancing both the project and the company as we move the project closer to production. This next round of drilling is designed to expand the current resource moving us closer to our initial goal of one million ounces of gold equivalent."

The latest results from the nine RC holes completed in the Grey Eagle target indicate that the immediate southern extension of the mineralized zone seen in the holes drilled in 2013 is weaker because faulting has offset the stronger mineralization or it has been eroded prior to the deposition of the postmineral cover. Eight of the nine holes can be divided into two sets. The first set was designed to look for the eastern up-dip edge to the strong mineralization discovered in 2013, seen for example, in holes GE-13-005, 008, 036 and 039 (61 metres at 1.07 grams per tonne gold equivalent, 65.5 metres at 0.7 gram per tonne gold equivalent, 73.2 metres at 0.66 gram per tonne gold equivalent, 47.2 metres at 0.55 gram per tonne gold equivalent, respectively). The new results, while positive, indicate that the up-dip, eastern, near-surface extensions of the mineralized zone have been partially eroded reducing the widths of the intercepts or removing them almost entirely as in GE-14-001 and 003. An example of these partial intercepts can be seen in the east-west section that includes RC hole GE13-023 (previously reported) from last year, which included 71.6 metres averaging 0.9 gram per tonne gold equivalent.

This intercept is located in the centre of the Grey Eagle resource block with the 2014 holes GE-14-002 and 008 located on the eastern edge of the block where they intercepted the partially eroded zone:

  • GE-14-002: 21 metres at 0.6 gram per tonne gold equivalent;
  • GE-14-008 27 metres at 0.6 gram per tonne gold equivalent.

 
                       RESULTS, GE-14-002 AND GE-14-008
                                                                        True
                       From    To  length Average  Average    AuEq thickness
RC hole                  (m)   (m)     (m) Au g/t   Ag g/t     g/t        (m)

GE-14-002              59.4  91.4    32.0    0.38     5.39    0.47      32.0
GE-14-002              64.0  85.3    21.3    0.48     6.24    0.59      21.3
GE-14-002              68.6  79.2    10.7    0.71     8.41    0.86      10.7
GE-14-008              53.3  93.0    39.6    0.38     4.88    0.47      39.6
GE-14-008              61.0  88.4    27.4    0.50     5.82    0.60      27.4
GE-14-008              61.0  77.7    16.8    0.71     8.02    0.85      16.8

The second set of holes were placed one to 200 metres farther south than the 2013 drilling and were designed to test for extensions of the mineralized zone in a southerly direction. Results suggest that the Grey Eagle mineralized zone has been eroded and down-faulted in this area. Although anomalous gold values were detected, no significant mineralization was found in these holes.

The ninth RC hole was designed to test the western extension of the Grey Eagle mineralization. The hole intersected a postmineral dike-rock that cut out some of the mineralized zone. It does however, show that the mineralized zone continues in a westerly direction. Future drilling will further define the mineralization in this area.

                             RESULTS, GE-14-009
                                                                        True
                       From    To  Length Average  Average    AuEq thickness
RC hole                  (m)   (m)     (m) Au g/t   Ag g/t     g/t        (m)

GE-14-009             166.1 173.7     7.6    0.50     7.36    0.63       6.6
GE-14-009             166.1 189.0    22.9    0.38     4.01    0.45      19.8
GE-14-009             184.4 190.5     6.1    0.83     1.45    0.85       5.3
GE-14-009             166.1 170.7     4.6    0.82     8.63    0.97       4.0

Qualified person

The qualified person on the Gold Springs property is Randall Moore, executive vice-president of exploration, North America, of TriMetals Mining, and he has reviewed and approved the content of this press release.

Quality assurance and quality control

Approximately 5.5 kilograms of RC chips are sent to the laboratory for each 1.52-metre drill interval. Five per cent of the samples submitted by the company are blanks and standards. In addition the laboratory also includes duplicates of samples, standards and blanks. The results of these check assays are reviewed prior to the release of data. All RC chip sample assays are also reviewed for their geological context and checked against the drill logs.

Assay method

Assays were performed in Reno, Nev., by Inspectorate Laboratories, an ISO 9001:2000-certified laboratory. Gold was analyzed by fire assay of a 30-gram sample with an AAS finish (FA430). All other elements were analyzed by the 30-element, four-acid ICP method (MA330).

Gold equivalence was calculated using a gold/silver ratio of 57.14 to be consistent with that used for previously reported drill results and has not been adjusted for metallurgical recoveries.

We seek Safe Harbor.

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