TRU Precious Metals Completes Soil Sampling Program at Its Rolling Pond Property Bordering New Found Gold's Queensway Project
Fredericton, New Brunswick--(Newsfile Corp. - June 17, 2021) - TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE:706) ("TRU" or the "Company") is pleased to announce that it has completed a property-wide soil sampling program at its Rolling Pond Property in the Central Newfoundland Gold Belt. The Rolling Pond property is contiguous with the south end of New Found Gold's Queensway project. New Found Gold reported drill intercepts on May 21, 2021 at the Queensway Project of 146.2 grams per tonne gold over 25.6 meters.
The completed geochemical surveying program represents TRU's first phase of field work at the Rolling Pond property and consisted of extensive and detailed sampling (684 samples were collected). The sampling covered the large hydrothermal and quartz breccia system, which has been identified over a 1.2 km strike length but has never been subjected to a systematic soil geochemical survey. The sampling was positioned to expand upon a known soil geochemical anomaly near the south-central area of the property where a coincident multi element soil anomaly has returned gold values from 5 parts per billion (ppb) to 142ppb, one of two gold anomalous areas spanning a 500m length. The samples are being submitted to Eastern Analytical of Springdale, NL for gold fire assay and 34 element ICP geochemical analysis. Eastern Analytical is an independent accredited assay lab that conforms to requirements of ISO/IEC (International Organization for Standardization/International Electrotechnical Commission) 17025.
Figure 1: TRU Rolling Pond Property Location
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Figure 2: TRU Precious Metals Rolling Pond Soil Sample Location
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TRU Co-Founder and CEO, Joel Freudman, commented, "We are excited to announce the completion of our first phase of work at Rolling Pond. Completing this detailed geochemical survey is a cost-effective way to provide the Company with greater technical data on this large target area and assists in facilitating guidance for our next phases of groundwork. Rolling Pond, being next door to New Found Gold's Queensway Property, provides TRU with an advantageous access point to the prospective geology of that area. We remain encouraged by historical findings that the nature and style of mineralization at the Rolling Pond Property appears similar to that of New Found Gold's and thus look forward to the results from this program."
Barry Greene, P.Geo. is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the contents and technical disclosures in this press release. Mr. Greene is a director and officer of the Company and owns securities of the Company.
About TRU Precious Metals Corp.
TRU has assembled a portfolio of 5 gold exploration properties in the highly prospective Central Newfoundland Gold Belt. The Company has an option with a subsidiary of TSX-listed Altius Minerals Corporation to purchase 100% of the Golden Rose Project, located along the deposit-bearing Cape Ray - Valentine Lake Shear Zone. TRU also owns 100% of the Twilite Gold Project, located along the same Shear Zone, and 3 under-explored properties including its Rolling Pond Property (under option) bordering New Found Gold Corp.'s high-grade Queensway Project. TRU's common shares trade on the TSX Venture Exchange under the symbol "TRU", on the OTCQB Venture Market under the symbol "TRUIF", and on the Frankfurt exchange under the symbol "706".
TRU is a portfolio company of Resurgent Capital Corp. ("Resurgent"), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.
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Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this press release relating to third-party mineral exploration properties are from sources believed to be reliable, but that have not been independently verified by TRU. Certain historical technical information herein relating to Rolling Pond Property has been supplied by the optionor of this property and has not been independently verified by TRU.
This press release contains certain forward-looking statements, including those relating to exploring the Company's mineral exploration properties and the prospectivity and mineralization of the Company's properties. These statements are based on numerous assumptions regarding the execution and success of exploration plans that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's properties; the exploration potential of the Company's properties and the nature and style of mineralization at same; risks inherent in mineral exploration activities; volatility in financial markets, economic conditions, and precious metals prices; challenges in attracting and retaining qualified personnel; and those other risks described in the Company's continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
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