TriMetals Mining Inc. Reports Initial Sample Results From the Newly Leased Homestake Claims
November 16, 2017, Vancouver, British Columbia—TriMetals Mining Inc. (TSX: TMI and TMI.B, US OTCQX: TMIAF and TMIBF), (the “Company”), is pleased to announce the results from a first round of rock chip sampling collected on the newly leased Homestake claims which are located one kilometre east of our Grey Eagle resource block and approximately 4 km northwest of the Jumbo resource area where the Company has been drilling in 2017. Sampling was conducted on two stacked, 2-4 metre-wide, westward dipping, banded quartz veins that are controlled by a major N-S fault structure that runs the length of the 1.8 kilometre long claims. The veins are well exposed for 65o metres along strike in historic mine cuts and as outcrops before they are lost under post mineral cover. The host rocks to the veins are oxidized andesites that have been hydrothermally brecciated and contain stockwork quartz veining. This mineralized wallrock material extends for up to 400 metres east-west, surrounding the veins, before disappearing under post mineral cover. This forms a target that is at least 1.8 km long and 400 metres wide and may continue further south onto TMI landholdings outside of the Homestake lease.
The highest grades occur in the quartz veins with strong gold and silver mineralization occurring in the host rock as well. Examples are shown below:
|Sample #||Sample Type and Width||Description||Au g/t||Au ReAssay g/t||Ag g/t||Ag ReAssay|
Ralph Fitch, President and CEO of the Company stated “TriMetals is very excited about these results which show that good grades occur throughout the entire length of the exposed veins. It is also very important from a resource development perspective that the mineralization extends out a significant distance on each side of the major vein features creating a large volume of mineralized material. This will clearly be one of our priority drill targets moving forward. On another note we are now starting to get assay results back from the remainder of our Jumbo drill program and expect to be able to report these results within a couple of weeks.”
Higher grade gold mineralization has now been found along the entire exposed 650m length of the two stacked veins which have widths of 2-4 metres each. The vein system has the potential to continue under the post mineral cover following the N-S fault that controls it and extend the entire 1.8 kilometer length of the property. Mineralized breccia and stockwork outcrops are found in windows within this post mineral cover confirming this potential.
The Homestake boarders the historic Iris Mine area, which is located immediately to the west, where high grade gold is hosted in an eastward dipping vein, creating the potential of an intersection of the east dipping Iris vein and the west dipping Homestake vein systems at depth. Intersections of important vein systems are good targets for mineralization.
The following tables list samples from the veins and the surrounding wallrock. Samples were taken across the width of the two veins along the exposed strike length. These results demonstrate that high grades are found along the full exposed 650 metre strike of the two stacked veins with gold values ranging from 1.4 g/t to 14.4 g/t Au, and silver values reaching 55.8 g/t Ag. The brecciated and stockwork-veined host rocks that form the wallrock to the veins are also mineralized with gold values ranging from 0.29 g/t to 1.6 g/t Au and up to 68.1 g/t silver.
Homestake Vein Samples:
|Sample #||Sample Type and Width||Description||Au g/t||Au ReAssay g/t||Ag g/t||Ag ReAssay|
|140520||Select, 20 cm||vein||1.4||7|
|140497||Float, 2x2m area||vein float||>10.0||10.5||68||60.4|
|113103||Float, 2x2m area||vein float||3.5||3.3||21.1||<20.0|
|113104||Float, 2x2m area||vein float||5.7||5.2||25.5||20|
|113116||Float, 3x3m area||vein float||2.8||16.2|
Homestake Wallrock Samples of Breccias and Stockwork Zones:
|Sample #||Sample Type and Width||Description||Au g/t||Ag g/t||Ag ReAssay|
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. 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.
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 showing re-assay results using a 30-gram sample and a gravity finish. All other elements were analyzed by a four acid leach ICP method coded MA300. Silver re-assay results are done by a 30-gram fire assay, and a gravity finish.
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. 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, 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 November 16, 2017.
TriMetals Mining Inc. Contact:
President & CEO
Chief Financial Officer