June 20, 2017, Vancouver, British Columbia—TriMetals Mining Inc. (TSX: TMI, US OTCQX: TMIAF), (the “Company”), is pleased to announce the start of the drill program at the advanced exploration stage Gold Springs gold-silver project in safe, mining friendly Utah and Nevada.
The phase 1 drill program of approximately 30 holes will start with the initial drill holes located in the South Jumbo (historic Etna mine) area where 2016 holes intersected substantial thicknesses and grades, including E-16-005 which intersected 150 metres of 0.87 g/t gold (1 g/t gold equivalent) and ended in the mineral system.
The March 29, 2017 Technical Report and Resource Estimate for the Gold Springs project (PR 17-05 of March 29, 2017) reported an initial resource for the South Jumbo target which is open to expansion along strike in a north-south direction and to depth. The width of the mineralization is still open to expansion as well, as holes were collared in, and bottomed in mineralization. This year’s drilling will look to define the width of the mineralization and expand the resource along strike and to depth.
Drilling will then move approximately 700 metres northeast to the Central Jumbo target area (State Section) to fill in the 1.5 km undrilled gap between the South Jumbo and North Jumbo resource areas.
Ralph Fitch, President and CEO stated “this phase 1 drill program, part of the planned much larger 125-hole program, will be very exciting as it explores these substantial geological/structural and geophysical targets that have already yielded some of our best results. As this year’s program progresses we plan to drill several of our other high priority ZTEM and structural targets.
TMI has conducted resource drilling on four targets and has developed resources on all four. We believe this year’s drill program will continue to demonstrate the tremendous upside potential for the project.”.
The links below show maps and sections of the areas to be drilled.
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 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. 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-chip samples.
Gold Equivalent (AuEq) in this press release was calculated using a 61.9 gold to silver ratio and assumes 100% metallurgical recoveries.
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 “will”, “continue”, “believe”, “plan”, “upside 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, including the larger drill program of 125 holes; 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, including a much larger 125-hole program, 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, the Company 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 June 20, 2017.
TriMetals Mining Inc. Contact:
President & CEO
Chief Financial Officer