December 8, 2017, Vancouver, British Columbia—TriMetals Mining Inc. (TSX: TMI, US OTCQX: TMIAF), (the “Company”), is pleased to announce the results from additional reverse circulation drill holes completed as part of the 2017 program. Results from 2 holes are still outstanding. The drill holes are located in the South Jumbo (Etna) resource area and the Central Jumbo (State Section) area, all in Utah.
Holes E-17-016 and E-17-019 continue to define the important near-surface higher grade mineralization at Etna:
Also, long intervals of good grades are also seen in the following holes:
Ralph Fitch, President and CEO of the Company stated “The drilling results around the Etna Resource continue to produce positive results over long mineralized intervals most of which start at or near surface. These results continue to expand the mineralized footprint and further define the important near-surface higher-grade zone.”
The focus of the 2017 drill program was to continue to expand the resource at South Jumbo around the historic Etna Mine and to better understand the zone with higher gold grades first identified in the 2016 drill program. Several holes were also designed to start testing the structurally complex area in the central State-Section located between the north and south Jumbo resource blocks.
Holes E-17-011 through E-17-019 reported here have continued to define the gold mineralization over the 1.4 kilometre exposed strike length of the Etna portion of the southern Jumbo Trend (Results for holes, E-17-017 and a portion of E-17-016 are still pending). This set of Etna holes has identified wide zones of mineralization within the 1.4 kilometre strike length of the South Jumbo with gold and silver mineralization often starting at, or near surface. The 2016 and 2017 programs have outlined a higher-grade portion in this part of the system, as seen in E-17-016 and E-17-019 in this set of results. This zone has now been traced for over 400 metres and is still open to expansion. This higher-grade feature is depicted in the figure located at:
Significant results include:
* Gold Equivalent (“AuEq”) calculated using a 61.9 gold to silver ratio and assumes 100% metallurgical recoveries. True width is approximately 80-90% of Thickness.
** Assays received for only part of the hole
Link to Hole locations and cross sections:
The results from the central Jumbo area, where holes SS-17-001 through SS-17-006 are located, have identified a structurally complex setting where it appears that block faulting has disrupted the system by down-faulting blocks of post mineral flows. Hole SS-17-001, reported earlier this year (Press Release September 8, 2017), intersected 21.3 metres of 1.53 g/t gold and 2.5 g/t silver and hole SS-16-001 which encountered 12.2 metres of 0.79 g/t gold and 5.79 g/t silver (Press Release March 7, 2017) are within this central portion of the Jumbo Trend. Nearby holes penetrated separate fault blocks which appear to have offset the strong gold and silver values seen in the above listed holes. Additional drilling will be required to fully understand this structurally complex area. Holes SS-17-002 through SS-17-006 contained isolated gold and silver values reaching highs of 1.76 g/t Au and 7.5 g/t Ag respectively over 1.5 metres.
Drill Hole Information
|Hole ID||Target||Easting – UTM NAD 27||Northing – UTM NAD 27||Elevation Meters||Azimuth||Inclination||TD (m)|
About TriMetals Mining Inc.
TriMetals Mining Inc. is a growth focused mineral exploration company creating value through the exploration and development of the near surface, Gold Springs gold-silver project in mining friendly Nevada and Utah in the U.S.A. and by demonstrating the exploration potential at the very large Escalones copper-gold porphyry deposit in Chile.
The Company’s approach to business combines the team’s track record of discovery and advancement of large projects, key operational and process expertise, and a focus on community relations and sustainable development. Management has extensive experience in the global exploration and mining industry.
The Company’s common shares and Class B shares are listed on the Toronto Stock Exchange under the symbols “TMI” and “TMI.B” and the common shares and Class B shares also trade on the OTCQX market under the symbol “TMIAF” and “TMIBF”. Note that the Class B shares have no interest in the properties or assets of the Company other than a collective entitlement to 85% of the net cash, if any, (after deducting all costs, taxes and expenses and the third-party funder’s portion thereof) received by TMI from award or settlement in relation to the Company’s subsidiary South American Silver Limited’s arbitration proceeding against Bolivia for the expropriation of the Malku Khota project in 2012 (the “Bolivia Arbitration”).
The Company continues to expect that an award will likely be announced before the end of 2017.
The Qualified Person on the Gold Springs property is Randall Moore, Executive Vice President of Exploration – North America of TriMetals Mining Inc. and he has reviewed and approved the content of this press release. The Qualified Person verified the data for its geological reasonableness, checked all the inputs and verified the analytical data through an analysis of the blanks and standards submitted with the drill-chip samples.
Gold Equivalent (AuEq) in this press release was calculated using a 61.9 gold to silver ratio and assumes 100% metallurgical recoveries.
Quality Assurance and Quality Control
Approximately 10 kg of RC chips were sent to the laboratory for each 1.52 metre drill interval. Fifteen percent of the samples submitted by the Company are blanks and standards for QA/QC purposes. 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.
TMI Assays were performed in Sparks, Nevada by Bureau Veritas Mineral Laboratories, an ISO 9001:2000 Certified laboratory. Gold was analyzed by fire assay of a 30-gram sample with an AAS finish with samples assaying greater than 10 g/t re-assayed using a 30-gram sample and a gravity finish. All other elements were analyzed by a four acid leach ICP method coded MA300.
Forward Looking Statements
Certain statements contained herein constitute “forward-looking information” under applicable Canadian securities laws (“forward-looking statements”). Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as “continue”, “target”, “potential”, “suggests”, “will” and similar expressions and include the Company’s expectation for an award in respect of the Bolivia Arbitration to be announced before the end of 2017. Interpretations of exploration results, including the strength of mineralization, are also forward-looking statements. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations if known and unknown risks or uncertainties affect our business or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, risks of the mineral exploration industry which may affect the advancement of the Gold Springs project, including possible variations in mineral resources, grade, recovery rates, metal prices, capital and operating costs, and the application of taxes; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; risks related to the international arbitration process; availability of equipment and qualified personnel, failure of equipment or processes to operate as anticipated, changes in project parameters, including water requirements for operations, as plans continue to be refined; regulatory, environmental and other risks of the mining industry more fully described in the Company’s Annual Information Form and continuous disclosure documents, which are available on SEDAR at www.sedar.com. The assumptions made in developing the forward-looking statements include: the accuracy of current resource estimates and the interpretation of drill, metallurgical testing and other exploration results; the continuing support for mining by local governments in Nevada and Utah; the availability of equipment and qualified personnel to advance the Gold Springs project; execution of the Company’s existing plans and further exploration and development programs for Gold Springs, which may change due to changes in the views of the Company or if new information arises which makes it prudent to change such plans or programs.
Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, TMI assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward-looking statements in this press release describe the Company’s expectations as of December 8, 2017.
NEWS RELEASE: 17-18
TriMetals Mining Inc. Contact:
President & CEO