Treasury Metals Inc. (TML:TSX: TSRMF:OTCBB) announced in a news release that new drill results from two zones at its Goliath gold project in Ontario are encouraging.
The company noted that expansion drilling of the high-grade shoots in the Eastern Main zone showed consistency of mineralization across them. "This complements the program's success in the developing C zone east area spanning 200m along strike by 150m downdip, where drilling is now consistently hitting mineralization in both zones (Main and C) along strike," CEO Greg Ferron said in the release.
Highlight assays included 4.6 grams per ton (4.6 g/t) gold over 4.4 meters (4.4m) in the Main zone and 10.6 g/t gold over 1m in a hanging wall zone, demonstrated in hole TL20-517. Hole TL20-512 returned 3 g/t gold over 7m, including 5.4 g/t gold over 3.4m next to the East high-grade shoot.
TL20-514 encountered a wide, low grade intersection of 0.6 g/t gold over 17.7m in Main and 8.9 g/t gold over 1.3m in a hanging wall zone.
As for the new results from the ongoing infill program targeting the Main zone, they showed continuity of the mineralized areas and high grades. For example, hole TL20-524 hit 3.4 g/t gold over 20.8m, including 9.1 g/t gold over 4m. "This hole shows strong encouragement of the grade across the main area of the potentially mineable resource and adds to the confidence of mining zones for early years in the proposed production schedule," according to the release.
Ferron added that all of these results, "along with the federal minister's approval of the environmental assessment in August, position us well in an improving gold market."
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