VANCOUVER, BC–(Marketwired – August 30, 2016) – TriMetals Mining Inc. (TSX: TMI) (TSX: TMI.B) (OTCQX: TMIAF) (OTCQX: TMIBF), (the “Company”), is pleased to announce the drill results from 2 ½ holes on the patented Talisman claim located in Nevada close to the Utah border.
The first hole intersected very high grade material within a vein system characterized by quartz veins with bladed and banded textures. The vein sits within a wide zone of mineralized material which is described later in this release. Results from the high-grade portion of the vein zone are shown below:
| RC Hole | From (metres) |
To (metres) |
Thickness (metres) |
Au g/t | Ag g/t | AuEq g/t | AuEq oz/t | |||||||
| T-16-001 | 179.8 | 181.4 | 1.5 | 215.42 | 203.80 | 218.71 | 7.032 | |||||||
| Within: | ||||||||||||||
| 179.8 | 187.4 | 7.6 | 44.774 | 58.32 | 45.72 | 1.470 | ||||||||
| True width not known. Average grades for intervals shown are heavily influenced by the high grade 215 g/t gold interval (average uses a 0.1 g/t AuEq cutoff). Gold Equivalent (AuEq) uses a Ag/Au ratio of 61.9 and assumes 100% metallurgical recoveries. g = grams oz = ounces t = tonne |
Ralph Fitch President and CEO, stated “We have finally intersected some very high grade material which we have historically found in float. This is a great start to our drilling program.”
All three RC holes reported here also intersected a second high-grade near surface vein which is projected to sub-crop 25 m west of T-16-002, below post-mineral colluvium cover. The vein dips to the East at approximately 35 degrees and is seen in all 3 holes in the drill section. These results are shown below:
| RC Hole | From (metres) |
To (metres) |
Thickness (metres) |
Au g/t | Ag g/t | AuEq g/t | ||||||
| T-16-001 | 18.3 | 19.8 | 1.5 | 2.58 | 42.20 | 3.26 | ||||||
| T-16-002 | 13.7 | 15.2 | 1.5 | 12.63 | 77.3 | 13.88 | ||||||
| within | ||||||||||||
| 12.2 | 18.3 | 6.1 | 4.47 | 45.73 | 5.2 | |||||||
| T-16-003 | 13.7 | 19.8 | 6.1 | 3.43 | 51.6 | 4.26 |
| True width 80-95% of width shown. Average grade uses a 0.1 g/t AuEq cutoff. Gold Equivalent (AuEq) uses a Ag/Au ratio of 61.9 and assumes 100% metallurgical recoveries. |
Ralph Fitch President and CEO, went on to say “These excellent and consistent near-surface results are exactly the type of material we need to find to accomplish our goal of putting together a modest sized higher-grade resource for a “starter pit”. A higher-grade starter pit has the potential to significantly enhance the already positive economics of the project described in our PEA.”
These first three holes are located approximately 75 metres south of our holes drilled in 2011 in the Thor area (T-11-02 and T-11-03). T-11-02 may have intersected the same vein (3m @2.29 g/t Au and @42 g/t Ag) but further drilling is required to confirm this. The three holes outline approximately 50 metres of down-dip extent of the vein. Additional holes will be drilled to further define this vein later in the program once we have received the results from all 10 holes drilled to date in the Thor area.
The location of the holes is in the middle of the 1.6 km strike length of the ZTEM high resistivity feature that has historically been associated with gold mineralization.
The “high-grade” vein intercept described from T-16-001 is located within a wide zone of stock-working quartz veins near to the boundary between the typical andesite volcanic host and a deeper rhyolite. This zone is sufficiently wide that it might make an “open-pit” target similar to Jumbo or Grey Eagle. Further drilling will be needed to both define the extent of the very high-grade material and the lower grade bulk-tonnage material.
The wide zone of mineralized material surrounding the high-grade is shown below:
| RC Hole | From (metres) |
To (metres) |
Thickness (metres) |
Au g/t | Ag g/t | AuEq g/t | AuEq oz/t | |||||||
| T-16-001 | 179.8 | 181.4 | 1.5 | 215.42 | 203.80 | 218.71 | 7.032 | |||||||
| 181.4 | 182.9 | 1.5 | 3.310 | 59.7 | 4.27 | |||||||||
| 182.9 | 184.4 | 1.5 | 0.726 | 9.10 | 0.87 | |||||||||
| 184.4 | 185.9 | 1.5 | 3.546 | 12.80 | 3.75 | |||||||||
| 185.9 | 187.4 | 1.5 | 0.869 | 6.2 | 0.968 | |||||||||
| Average | 179.8 | 187.4 | 7.6 | 44.774 | 58.32 | 45.72 | 1.470 | |||||||
| within | ||||||||||||||
| Broader zone of Mineralization: | ||||||||||||||
| With high grade 215 g/t interval included* | 147.8 | 230.1 | 82.3 | 4.34 | 8.44 | 4.47 | 0.144 | |||||||
| With high grade 215 g/t interval excluded and replaced with 3 g/t Au | 147.8 | 230.1 | 82.3 | 0.40 | 8.44 | 0.54 | 0.017 | |||||||
| True width not known. *Average grades for intervals shown heavily influenced by the high grade 215 g/t gold interval (average uses a 0.1 g/t AuEq cutoff). Gold Equivalent (AuEq) uses a Ag/Au ratio of 61.9 and assumes 100% metallurgical recoveries |
RC hole T-16-002 may also have intersected the same broad zone of mineralization but at a lower grade:
| RC Hole | From (metres) |
To (metres) |
Thickness (metres) |
Au g/t | Ag g/t | AuEq g/t | ||||||
| T-16-002 | 115.8 | 202.7 | 86.9 | 0.18 | 2.58 | 0.23 | ||||||
| including | 189.0 | 193.6 | 4.6 | 1.46 | 9.10 | 1.60 |
| True width is not known. Average grade uses a 0.1 g/t AuEq cutoff. Gold Equivalent (AuEq) uses a Ag/Au ratio of 61.9 and assumes 100% metallurgical recoveries |
Only results from the upper portion of RC hole T-16-003 have been received to date.
The Talisman claim purchase was completed last year. This claim includes portions of the historic Thor Vein located in Nevada close to the Utah border. This area is comprised of a portion of 3 of the 26 areas of outcropping gold mineralization, that TMI press releases often refer to when illustrating the potential of the large 74.7 sq km Gold Springs exploration property in safe, mining friendly Nevada and Utah. Outcrop areas, Silica Hill/Thor, Silica Hill Extension and North Jennie are all part of a large ZTEM resistivity anomaly which includes the Thor Vein System.
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.
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.
Assay Method
TMI Assays were performed in Reno, Nevada by Buena Vista 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.
Quality Assurance and Quality Control
Approximately 15 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.
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 “target”, “projected, “may”, “will”, “goal”, “potential” 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 August 30, 2016.
TriMetals Mining Inc. Contact:
Ralph Fitch
President & CEO
303.584.0606
ralphfitch@trimetalsmining.com
Matias Herrero
Chief Financial Officer
303.584.0606
mherrero@trimetalsmining.com