December 16, 2016, Vancouver, British Columbia—TriMetals Mining Inc. (TSX: TMI, OTCQX: TMIAF), (the “Company”), is pleased to announce the results of the third round of drill holes (4 holes) from the northern end of the Jumbo resource area at the Gold Springs Project in Nevada/Utah. This program was designed to extend and fill-in mineralization that was drilled in 2014 and 2015. The Company believes that these four holes clearly show that the mineralization is also extending to the north and includes some high grade near surface mineralization within the same structural trend as seen further south within the Jumbo resource area.
Link to Location Map showing Jumbo resource area:
A complete set of cross-sections through the deposit and a trace map showing the surface location of the RC holes is available here:
The holes are drilled in a block of approximately 200 metres north-south starting 50 metres north of RC J-15-011 drilled in 2015. Intercepts include 4.6 m @5.4 gt AuEq in RC hole J-16-010. All mineralization is interpreted to subcrop a few metres below the surface under a thin layer of post-mineral volcanics.
Link to map and section showing RC hole J-16-010:
|Drill Hole||Thickness (m)||Gold (g/t)||Silver (g/t)||Gold Equivalent* (g/t)|
|Within a wide zone including intervals of waste that averages:|
|50 metres further south 2015 drilling intersected:|
* 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.
Ralph Fitch, President and CEO of the Company stated “This round of drilling indicates that the mineralization in the Jumbo resource area continues to the north with these holes filling-in another 200 metres of strike length of the zone, where previously we only had one hole. Additional drilling in future programs will plan to further delineate this area and extend drilling both in an east-west sense and continue to the north. This extension to the north is in addition to the just released results (PR 16-27 of December 14, 2016) that show an extension of the mineralization to the south as well.”
“Our next press release will report drilling from South Jumbo at the southern end of the Jumbo Structural Trend and ZTEM geophysical anomaly, some 3 km south, at the historic Etna mine where we have already located good mineralization at surface and in our 2014 drilling. Subsequent drill programs, in future years, will drill out this entire zone from the far north to the far south, some 5 km in all.”
The most northern hole drilled – J-16-012, located some 50 m north of J-16-010 – included a narrow interval of 2 gt AuEq and may not have intersected the entire mineralized system. The other two holes included similar intervals of mineralization. Further exploration drilling is needed in this covered area to pin-point the center of the mineral system prior to infill drilling.
The table below shows the details of the drill results obtained.
|The entire interval including waste assayed:|
* 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.
The following table shows the location, azimuth and dip (inclination) of the drill holes:
|Drill Hole||East||North||Elevation||TD (m)||Azimuth||Dip|
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.
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 the Company from award or settlement in relation to the arbitration proceeding involving the Company’s subsidiary, South American Silver Limited, against Bolivia for the expropriation of the Malku Khota project in 2012. Additional information related to TriMetals Mining Inc. is available at www.trimetalsmining.com and on SEDAR at www.sedar.com.
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 QP 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.
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.
No known drilling, sampling, recovery or other factors have been observed that could materially affect the accuracy or reliability of the data referred to in this news release.
Gold Equivalent (AuEq) in this press release was calculated using a 61.9 gold to silver ratio and assumes 100% metallurgical recoveries.
Forward Looking Statements
Certain statements contained herein constitute “forward-looking information” or “forward looking statements” under applicable 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 “plan”, “continue”, “indicates”, “will”, “may” and similar expressions. 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; 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, the Company 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 16, 2016.
TriMetals Mining Inc. Contact:
President & CEO
Chief Financial Officer