March 2, 2017, Vancouver, British Columbia—TriMetals Mining Inc. (TSX: TMI, OTCQX: TMIAF), (the “Company”), is pleased to announce the results from the final drill holes of the 2016 program on the Gold Springs project located in Utah and Nevada.
Link to Location Map showing Jumbo Trend:
Two additional holes were completed in the South Jumbo on the Etna target and three within Central Jumbo. Highlights from the final holes include 1.1 g/t Au and 15.61 g/t Ag, equating to 1.31 g/t AuEq* over 30.5 metres in hole E-16-008 which was drilled from the same location as E-16-004 (24.4 metres at 2.04 g/t Au, 11.49 g/t Ag, PR January 11, 2017) but at a steeper angle to test the down dip continuity of the system.
Link to map showing South Jumbo (Etna) Plan and Sections:
Three holes were drilled within the central portion of the Jumbo trend, the State Section target, returning 12.2 metres at 0.79 g/t Au and 5.79 g/t Ag in hole SS-16-001. This hole is located 500 metres south of the Jumbo resource area and 1,100 metres from the 2016 Etna holes. The other two holes located in Central Jumbo were reconnaissance holes drilled into areas of structural complexity to better understand the geology and did not intersect any significant gold mineralization.
Ralph Fitch, President and CEO of the Company stated “The final drill results from the 2016 program continue to demonstrate the size and strength of the mineralizing systems at Gold Springs. From an exploration standpoint it is very significant that hole SS-16-001, located between the two known blocks of mineralization on the Jumbo Trend, and drilling into a partially covered area, intersected a portion of the Jumbo mineral system. This hole located in the central portion of the Jumbo Trend, between the North Jumbo and South Jumbo (Etna) targets, intersected the mineralized system, again confirming the continuity of the mineralization flanking the 5.5 km long Jumbo Structural Trend resistivity high. All this new mineralization discovered in the Jumbo Trend and at Thor is presently being incorporated in our updated resource estimate which is expected to be published in Q1.”
The final Thor hole T-16-011, was drilled to offset T-16-001 and intersected 4.0 g/t Au and 55.7 g/t Ag over 3.1 metres. Another 375 metres south, two additional scouting holes (SH-16-001 and 002) also intersected mineralization indicating that the system continues to the south.
Link to Thor T-16-011 Map and Section:
Below is a complete list of the final set of results from the 2016 drill program;
|Target||Drill Hole||From (m)||To (m)||Thickness (m)||Gold (g/t)||Silver (g/t)||AuEq* (g/t)|
|Void Old Workings||32.0||36.6||4.6|
* 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.
|Hole ID||Easting UTM NAD 27||Northing UTM NAD 27||Elevation Feet||Azimuth||Inclination||TD (ft)||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 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. The Class B shares are only entitled collectively 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.
Quality Assurance and Quality Control
Approximately 7 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.
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.
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”, “indicating”, “expected” 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, 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 March 2, 2017.
TriMetals Mining Inc. Contact:
President & CEO
Chief Financial Officer