February 8, 2018, Vancouver, British Columbia—TriMetals Mining Inc. (TSX: TMI), (“TriMetals”, “TMI”, or the “Company”), is pleased to announce the final results from drill holes completed as part of the 2017 program on the Gold Springs Project in Utah and Nevada.
Summarized results for these holes are listed below;
*True width is approximately 80-100% of Thickness.
The drill holes are located in the South Jumbo resource area and were designed to test the continuity of shallow, higher-grade material (hole E-17-016) and for a possible parallel higher-grade zone within the hanging wall of the Etna structural trend (E-17-018).
Mr. Eric Edwards, President & CEO of TriMetals commented, “The discovery of these grades in drill hole E17-016 demonstrates the continuity and strength of this higher-grade zone that has now been traced for over 450 meters along strike. At a depth of just 12.2 meters down hole, these results confirm the near-surface nature of the Jumbo zone.” Mr. Edwards continued, “The South Jumbo zone remains open to both the north and south, and will be the likely primary exploration target for our next drilling program.”
Drill hole E-17-016 is located east of hole E-16-003 and targeted the developing shallow, higher-grade gold zone to confirm continuity within this area. This zone is defined by a postulated structural intersection which controls a linear body of higher-grade gold and silver values. This higher-grade feature is depicted in the figure located at: http://www.trimetalsmining.com/wp-content/uploads/2018/02/SoJumbo-3D-Min-Env1PR-2-18.pdf. In addition to the higher-grade gold intercept, hole E-17-016 displays continuous mineralization from 7.6 to 89.9 metres down hole, averaging 0.63 g/t gold and 11.6 g/t silver over this 82.3 metre interval.
Previous drilling suggests there are two possible deeper, parallel higher-grade zones to the east, and Hole E-17-018 was the first attempt to locate parallel zones to the west, within the hanging wall portion of the main Etna structural zone. Hole E-17-018 was successful in that it demonstrates mineralization continuity into the hanging wall. Additional drilling will be needed to define the gold distribution within this area.
Link to Hole locations and cross sections: http://www.trimetalsmining.com/wp-content/uploads/2018/02/Etna-Plan-X-Sections1-23.pdf
Mr. Edwards further commented, “TMI plans to explore and expand these zones to the north and south where we can trace outcropping gold mineralization, but where we have conducted little exploration drilling in the past.”
Drill Hole Information:
|Hole ID||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 prospective Gold Springs gold-silver project in Utah and Nevada USA, and the Escalones copper-gold porphyry deposit in Chile. The Company combines a track record of discovery and advancement of large projects, mining and exploration supportive jurisdictions, low political risk areas, 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(1) 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.
- 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 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-cutting 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 or 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 drill 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 “creating”, “continue”, “will” and similar expressions and include the Company’s expectation for an award in respect of the Bolivia Arbitration to be announced in 2018. 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 February 8, 2018.
TriMetals Mining Inc. Contact:
Executive Vice President of Exploration