TriMetals Mining Inc. Provides Update on the Thor Vein Targets within the Gold Springs Project
May 3, 2016, Vancouver, British Columbia—TriMetals Mining Inc. (TSX: TMI and TMI.B, US OTCQX: TMIAF and TMIBF), (the “Company”), recently reported (March 1, 2016) on the analysis of data related to the historic Thor Mine area within the Talisman claim. In its continuing effort to better develop the higher-grade Thor target, the Company is pleased to announce the results from recent field mapping and sampling efforts.
A new outcropping vein has been discovered to the south of the main Thor zone, the” Southern Vein”, which is offset from the main Thor zone by faulting, with widths of up to 2 metres. The Southern Vein has limited exposure, as it is located on the edge of, and continues under, post-mineral cover. Two samples were collected from this vein in this program and they returned some of the highest outcropping gold values collected thus far on the Gold Springs project.
|Sample No||Width||Gold g/t||Ag g/t|
|RLM-16-001||1.5 metre chip||33.6||57.8|
Ralph Fitch President and CEO, stated “Within the vicinity of the Southern Vein, TMI has collected several higher-grade samples which have come from locally derived float material. This material contains gold and silver values as high as 126.8 g/t and 442.7 g/t respectively. With the discovery of the Southern Vein, TMI may have located one of the sources of this material. Additional work will need to be completed before we know the full potential of the Southern Vein, but with gold and silver grades in the one and two ounce per tonne range we are very excited about the potential of this vein as well as the 1.6 km long Thor System. The reason we are targeting higher grade veins is because if we discover higher grade open-pittable material and can integrate this into our PEA mine plan as a starter-pit it has the potential to significantly enhance the project economics which are already robust”.
This sampling program succeeded in producing two additional trenching and drill targets within the Thor area. These two targets, including the one described above, are characterized by outcropping veins and vein systems with grades ranging from 0.01 to 33.6 g/t gold and 0.43 to 61.8 g/t silver. The second vein target is located to the west of the historic Thor Mine and yielded sample values of up to 4.9 g/t Au and 57.5 g/t Ag. The discovery of this vein continues to confirm the high-grade nature of the vein systems in the Thor area.
The Western Vein set is made up of at least 4 closely spaced, parallel veins ranging from 0.3 to 1.5 meters wide. Samples from these veins carried the following values;
|Sample ID||Sample Type||Width (metres)||Gold (g/t)||Silver (g/t)|
The Western Veins are located in an area of extensive cover which will require trenching or drilling to fully understand the extent of the mineralization.
These targets, along with the Thor and Talisman areas, are part of a larger trend which may extend as much as 1.6 km as indicated by the ZTEM resistivity geophysical anomaly. The ZTEM anomalies have a high correlation with known gold mineralization and helped to define the Jumbo Trend which hosts the majority of the resource that TMI has identified to date.
Additional field work and sampling programs, including trenching, are planned for these areas with the ultimate goal of preparing them for a drilling program.
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”. 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.
Quality Assurance and Quality Control
Approximately 1.5 kg of material are sent to the laboratory for each sample collected. The laboratory includes duplicates of samples, duplicates of pulps, standards and blanks. The results of these check assays are reviewed prior to the release of data. All chip sample assays are also reviewed for their geological context and checked against field observations.
Assays were performed in Reno, Nevada by AALS Chemex Laboratories, an ISO 9001:2000 Certified laboratory. Gold was analyzed by fire assay of a 30 gram sample with an AA finish. All other elements were analyzed by the ME-MS61 method.
Forward Looking Statements
Certain statements contained herein constitute “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”, “will”, “believe”, “should”, “target”, ”goal”, “future”, “potential” and similar expressions. 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, including the reliability of exploration results of previous companies; 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 May 3, 2016.
TriMetals Mining Inc. Contact:
President & CEO
Chief Financial Officer