VANCOUVER, BC–(Marketwired – December 14, 2016) – TriMetals Mining Inc. (TSX: TMI) (OTCQX: TMIAF) (the “Company”)is pleased to announce the results of the second round of drill holes (6 holes) from the southern end of the present Jumbo resource area (the “Jumbo Main Zone”). The Company believes that these new results, as well as the earlier reported set of results (PR 16-22 of October 26, 2016), clearly demonstrate an extension of the mineralization to the east and south of the southern end of the Jumbo Main Zone which is located towards the northern end of the 5 km long Jumbo Structural Trend gold target.
Link to map showing Jumbo Structural Trend and area names: http://www.trimetalsmining.com/wp-content/uploads/2016/12/GS3DFig12-14-16.pdf
New Footwall Zone Discovered:
One of the new holes, J-16-009, indicates the existence of a new footwall zone to the west of the presently known mineral system potentially with a 200-metre strike length within the footprint of the presently defined PEA pit design.
Link to map and section showing the new footwall zone:
http://www.trimetalsmining.com/wp-content/uploads/2016/12/JSoMapSec8500N.pdf
| Drill Hole | Thickness (m) | Gold (g/t) | Silver (g/t) | Gold Equivalent* (g/t) |
| J-16-009 | 10.7 | 1.05 | 4.91 | 1.13 |
| And a second zone of mineralization higher in the hole | ||||
| J-16-009 | 25.9 | 0.27 | 7.94 | 0.40 |
* 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.
A complete set of cross-sections through the deposit and a trace map showing the surface location of the RC holes is available here:
http://www.trimetalsmining.com/wp-content/uploads/2016/12/JumboMapSections8200N-9500N.pdf
Jumbo Main Zone Extended 60 Metres to the South:
RC holes J-16-014 and J-16-015 are located approximately 60 metres further south than the previously reported J-16-003 and show strengthening gold mineralization to the south, including [email protected] g/t AuEq in J-16-014 and [email protected] g/t AuEq in hole J-16-015. This is the furthest south that we have drilled in this location.
Link to map and section showing RC holes J-16-014 and J-16-015:
http://www.trimetalsmining.com/wp-content/uploads/2016/12/JumboMapSec8200N-8250N.pdf
| Drill Hole | Thickness (m) | Gold (g/t) | Silver (g/t) | Gold Equivalent* (g/t) | ||||
| J-16-014 | 7.6 | 2.02 | 22.46 | 2.38 | ||||
| within | ||||||||
| J-16-014 | 30.5 | 0.63 | 6.86 | 0.74 | ||||
| J-16-015 | 9.1 | 2.03 | 7.83 | 2.15 | ||||
| within | ||||||||
| J-16-015 | 24.4 | 0.96 | 3.87 | 1.02 | ||||
| Previously reported intercept 60 m to the north | ||||||||
| J-16-003 | 22.9 | 0.79 | 14.21 | 1.02 | ||||
* 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, “Drill results again demonstrate that exploration is continuing to expand the footprint of the mineralization. This extension to the mineralization in the Jumbo Main Zone continues the process of drilling-off the 5 km long Jumbo Structural Trend (geophysical target). The Jumbo Main Zone is near the northern end of the Jumbo Structural Trend (“North Jumbo”), the “State Section” is in the middle of the Trend (“Central Jumbo”) and the historic Etna mine is at the southern end of the Trend (“South Jumbo”). We have just completed 8 holes in the South Jumbo. We will release the results from these holes in the next several weeks once they have been received from the laboratory. It is important to remember that our mineral resource estimate in North Jumbo is based on drilling approximately 1.3 km of the eastern boundary of the 5 km long geophysical anomaly. Mineralization is present on both the eastern and western boundaries of the anomaly, providing approximately 10 km of target.”
RC hole J-16-016 is located on the same east-west line as J-16-03 but 50 m further east. It intersected the down-dip extension of the mineralization seen in J-16-03 (see table below).
RC hole J-16-017 is located 50 metres north of hole J-16-003 in an east-west area of post-mineral structural disturbance and included low grade mineralization. RC hole J-16-008 located approximately 200 metres north of J-16-017 did not intersect the mineralized zone because it has been down-faulted by a fault that strikes north-south approximately along the Easting 761340 (see map).
The table below shows the details of the drill results obtained.
| Drill Hole |
From (m) |
To (m) |
Thickness (m) |
Gold (g/t) |
Silver (g/t) |
Gold Equivalent* (g/t) |
||||||
| J-16-009 | 25.9 | 51.8 | 25.9 | 0.27 | 7.94 | 0.40 | ||||||
| And: | ||||||||||||
| J-16-009 | 100.6 | 111.3 | 10.7 | 1.05 | 4.91 | 1.13 | ||||||
| J-16-014 | 77.7 | 85.3 | 7.6 | 2.02 | 22.46 | 2.38 | ||||||
| Within a mineralized zone assaying: | ||||||||||||
| J-16-014 | 77.7 | 108.2 | 30.5 | 0.63 | 6.86 | 0.74 | ||||||
| J-16-015 | 93.0 | 102.1 | 9.1 | 2.03 | 7.83 | 2.15 | ||||||
| Within a mineralized zone assaying: | ||||||||||||
| J-16-015 | 91.4 | 115.8 | 24.4 | 0.96 | 3.87 | 1.02 | ||||||
| J-16-016 | 109.7 | 123.4 | 13.7 | 0.49 | 6.80 | 0.60 | ||||||
| Within a mineralized zone assaying: | ||||||||||||
| J-16-016 | 109.7 | 153.9 | 44.2 | 0.28 | 3.68 | 0.34 | ||||||
| J-16-017 | 99.1 | 108.2 | 9.1 | 0.15 | 13.72 | 0.37 | ||||||
| Within a mineralized zone assaying: | ||||||||||||
| J-16-017 | 88.4 | 112.8 | 24.4 | 0.13 | 7.49 | 0.25 | ||||||
* 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 gives the location, azimuth and inclination of the collars of the RC holes:
| Holeid | East | North | Elevation | TD (m) | Azimuth | Dip | ||||||
| J-16-008 | 761441.70 | 4198513.90 | 2077.55 | 275.80 | 270.00 | 65.00 | ||||||
| J-16-009 | 761275.10 | 4198503.10 | 2079.22 | 117.30 | 270.00 | 45.00 | ||||||
| J-16-014 | 761344.00 | 4198220.00 | 2061.90 | 123.40 | 270.00 | 45.00 | ||||||
| J-16-015 | 761346.00 | 4198220.00 | 2061.90 | 147.80 | 270.00 | 65.00 | ||||||
| J-16-016 | 761358.00 | 4198282.00 | 2077.85 | 164.60 | 270.00 | 65.00 | ||||||
| J-16-017 | 761335.00 | 4198338.00 | 2077.99 | 217.90 | 270.00 | 65.00 |
The next press release will describe the results from drilling the north end of the Jumbo Main Zone, which includes drill holes J-16-010/011/012 and /013 and the press release following that will include the results from drilling the South Jumbo at the south end of the Jumbo Structural Trend.
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.
Qualified Person
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.
Assay Method
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
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 “continue”, “target”, “indicates”, “potentially”, “strengthening”, “process”, “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 December 14, 2016.
TriMetals Mining Inc. Contact:
Ralph Fitch
President & CEO
303.584.0606
[email protected]
Matias Herrero
Chief Financial Officer
303.584.0606
[email protected]
