News

TriMetals Mining Inc. Reports First Results from Gold Springs 2017 Drilling Program

September 8, 2017

September 8, 2017, Vancouver, British Columbia—TriMetals Mining Inc. (TSX: TMI, US OTCQX: TMIAF), (“TMI” or the “Company”), is pleased to announce the first 2017 drill results from the Gold Springs project located in Nevada and Utah. All the reported drilling is located on the Utah side of the project and includes the first 2017 hole from the Central Jumbo area located 1,000 metres south of the Jumbo resource and 600 metres northeast of the South Jumbo resource (Etna). Results from the first hole (SS-17-001) drilled in this area includes 21.3 metres @ 1.53 g/t Au and 2.5 g/t Ag. In addition, TMI reports results received to date from the South Jumbo target in the historic Etna Mine area. Highlights from this drilling include 80.8 metres at 0.74 g/t Au and 7.2 g/t Ag in hole E-17-005 and 83.8 metres at 0.64 g/t Au and 6.5 g/t Ag in hole E-17-003.

Hole From (m) To (m) Thickness (m) Gold (g/t) Silver (g/t) AuEq (g/t)
SS-17-001 135.6 157.0 21.3 1.53 2.5 1.57
E-17-003 94.5 178.3 83.8 0.64 6.5 0.75
Inc. 140.2 161.5 21.3 1.09 6.5 1.20
E-17-005 4.6 85.3 80.8 0.74 7.2 0.86
Inc. 4.6 56.4 51.8 0. 97 10.0 1.13
and 41.1 56.4 15.2 2.77 26.7 3.20

* 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 “The results from the first holes of the 2017 drill program continue to expand the footprint of the mineralization within the Jumbo Trend confirming the expansion potential. The first 2017 hole in Central Jumbo (SS 17-001) starts to join our two Jumbo resource blocks, one in the north and one in the south together. Drilling is clearly both outlining and filling in the potential of this 5.5 km long structural trend. With less than 20% of this target drilled and less than 15% of project wide targets drilled we continue to believe in the substantial potential of the Gold Springs Project.”

Follow this link for maps and sections showing the location of these results: http://www.trimetalsmining.com/wp-content/uploads/2017/09/GS-PressRelease-PlansSectionsV5.pdf

TMI has received results for a total of nine holes in the South Jumbo target, in the area of the historic Etna Mine, and one hole in the Central Jumbo area. These holes were designed to test the character of the gold mineralization in the Central Jumbo area and continue to expand the recently reported resource at South Jumbo (PR 17-05, March 29, 2017). Drilling also tested an area 200 metres to the east of the South Jumbo resource which is obscured by post-mineral cover.

Holes E-17-001 and E-17-006 tested the area east of the South Jumbo resource, while holes E-17-002, E-17-003, E-17-004 and E-17-005 were designed to expand the South Jumbo resource and better understand the mineralization. Holes E-17-007, E-17-008 and E-17-009 were drilled near the southern end of the Jumbo trend south of the South Jumbo resource.

Results from the first 9 holes at South Jumbo and the first hole in Central Jumbo include:

Hole From (m) To (m) Thickness (m) Gold (g/t) Silver (g/t) AuEq (g/t)
SS-17-001 135.6 157.0 21.3 1.53 2.5 1.57
Inc. 135.6 147.8 12.2 2.22 3.9 2.28
E-17-002 24.4 32.04 7.6 1.01 11.7 1.20
and 89.9 97.5 7.6 1.14 15.6 1.39
and 109.7 132.6 22.9 0.33 3.60 0.39
E-17-003 94.5 178.3 83.8 0.64 6.40 0.74
Inc. 94.5 106.7 12.2 1.31 12.8 1.52
and 140.2 161.5 21.3 1.09 6.5 1.20
E-17-004 9.1 21.3 12.2 0.39 3.6 0.45
and 64.0 121.9 57.9 0.35 3.7 0.40
E-17-005 4.6 85.3 80.8 0.74 7.2 0.86
Inc. 4.6 56.4 51.8 0.97 10.0 1.13
E-17-007 3.0 10.7 7.7 0.70 22.0 1.06
Void Old Workings 10.7 13.7 3.0 Mined Out
  13.7 21.3 7.6 0.56 11.5 0.74
and 13.7 97.5 83.8 0.26 5.3 0.35

* 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 E-17-001 was drilled toward the east of the current resource and stayed in post mineral material until a depth of 143.3 metres before it intersected altered and mineralized rocks which included 3 metres of 0.67 g/t Au and 3.2 g/t Ag near the bottom of the hole. This altered and mineralized zone suggests there may be a parallel system 200 metres east of the current South Jumbo resource. Hole E-17-006 was also drilled toward the east of the resource block and contained weakly altered material but no significant gold mineralization. Hole E-17-007, drilled south of the South Jumbo resource, intersected a 3 metre void created by an old mine working. Seven and a half metres on either side of the void carried plus half gram gold, so total intercept would have been approximately 18 metres.  Holes E-17-008 and E-17-009 were drilled in the very southern end of the Jumbo trend and entered weakly mineralized fault blocks with no significant gold values.

The following table lists the location and directions of the holes:

Hole ID Easting UTM NAD 27 Northing UTM NAD 27 Elevation Meters Azimuth Inclination TD (m)
E-17-001 760636 4196801 1972 90 -50 203.0
E-17-002 760561 4196600 1997 90 -50 262.0
E-17-003 760476 4196799 1995 90 -50 225.5
E-17-004 760638 4196552 2001 110 -65 207.3
E-17-005 760667 4196507 1993 110 -50 243.8
E-17-006 760724 4196594 1968 90 -55 214.9
E-17-007 760801 4195976 2016 320 -55 153.9
E-17-008 760848 4195856 1942 310 -45 152.4
E-17-009 760736 4196146 1986 110 -55 141.7
SS-17-001 761134 4197344 2012 270 -50 182.8

 

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 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

Gold Equivalent (AuEq) in this press release was calculated using a 61.9 gold to silver ratio and assumes 100% metallurgical recoveries.

 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.

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. and by demonstrating the exploration potential at the very large Escalones copper-gold porphyry deposit in Chile.

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.

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 “continue”, “target”, “potential”, “starts to join”, “suggests”, “would”, “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 September 8, 2017.

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

 

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