TriMetals Mining Inc. Starts 6,000-metre Drill Program at Gold Springs with Historic Thor Gold-Vein System as the Initial Focus
July 26, 2016, Vancouver, British Columbia—TriMetals Mining Inc. (TSX: TMI and TMI.B, US OTCQX: TMIAF & TMIBF), (the “Company”), is pleased to announce that it has started drilling at the Gold Springs project located in mining friendly Nevada and Utah. The program will consist of approximately 20,000 feet (6,100 metres) of reverse circulation (“RC”) drilling and will take several months to complete.
The initial focus of this year’s drill program will be on the Thor area located in Nevada, very close to the Utah border. The Thor area is comprised of gold-vein systems containing multi-gram samples as previously reported, so has the potential for higher-grade mineralization than the average grade of our existing resource estimate at Gold Springs.
As indicated by the ZTEM resistivity geophysical survey, we believe the Thor area is part of a larger trend which may extend as much as 1.6 km running parallel to the Nevada/Utah border and includes 3 of the 26 areas of outcropping gold mineralization at Gold Springs (Silica Hill/Thor, Silica Hill Extension and North Jennie).
To date, the Company has only completed resource drilling on 2 of the 26 areas of outcropping gold mineralization (Jumbo and Grey Eagle), and the drill results of these 2 areas form the basis of the existing gold-silver resource estimate at Gold Springs which is included in the Preliminary Economic Assessment.
Ralph Fitch, President and CEO stated “We are very excited to start the new drill program in the Thor Target. We believe there is an opportunity to develop a high grade resource that could become a starter-pit for the Project described in the PEA. Higher grade in the first year of operations has a significant positive impact on the already robust economics described in the PEA”.
Following initial drilling at the Thor, the drill program will focus on expanding our existing resource at Jumbo in Utah and at Grey Eagle/White Point, in Nevada,
Ralph Fitch, President and CEO went on to say, “With Jumbo and Grey Eagle, we have drilled less than 10% of what we believe is the gold target on the property. In fact, we have only drilled the first two of twenty-six areas of outcropping gold mineralization which equates to 3 of 33 kilometers of ZTEM Resistivity boundaries. The ZTEM Resistivity boundaries at Gold Springs have to date correlated very well with the discovery of gold mineralization on the property.”
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.
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 “will”, “potential”, “could”, “may”, “believe” and similar expressions. Interpretations of exploration results, including the strength of mineralization, are 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 Spring, 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 July 26, 2016.
TriMetals Mining Inc. Contact:
President & CEO
Chief Financial Officer