July 19, 2018, Vancouver, British Columbia-TriMetals Mining Inc. (TSX: TMI), (“TMI” or “the Company”), announces the completion of a structural context analysis identifying five prospective drill target areas in the central portion (“Central Jumbo”) of the significant Jumbo Trend at its flagship Gold Springs Project in the western U.S.A. TMI will use the analysis to support further gold exploration and future drilling at Gold Springs.
TMI engaged SRK Consulting (Canada) Inc. (“SRK”) from Toronto to investigate the structural controls for gold mineralization within the Central Jumbo area, between the North Jumbo and South Jumbo resource zones. The North and South Jumbo zones lie within a defined 5.5-kilometre-strike of the Jumbo Trend in Utah in the eastern portion of the Gold Springs Project.
Dr. Antoine Caté of SRK produced the Central Jumbo structural report (the “SRK Report”) for TMI based on interpretation from a site visit to key outcrops and evaluating structural geology, which were used to define the five drill target areas. TMI believes that prospective gold mineralization exists in Central Jumbo and that an improved understanding of the fault structures pervasive throughout the area will greatly assist in future drill targeting. Dr. Caté’s work will assist in this targeting.
Highlights of the SRK Report
- Gold mineralization is controlled and bounded within two regional north-south trending fault lines that extend through the extent of the Jumbo Trend
- Extensional basin and range type faulting generally dominates and results in the regional north-south trending control structures
Eric Edwards, President and CEO of TMI, said:
“An understanding of the structural setting and controls within the Jumbo Trend is vital as we move forward with exploration and work to potentially connect the mineral resource over the undrilled 2 km zone between Central Jumbo and South Jumbo (aka Etna). We believe that the gold mineralization through North Jumbo to South Jumbo may be connected and also extended to the north and south. With a robust geologic model and scientific theory of faulting sequence, relative movement and subsequent mineralizing events that have occurred at Central Jumbo, we can move forward to identifying the shifted resource blocks.”
Mr. Edwards continued, “The SRK Consulting Group is widely recognized for their knowledge and experience in conducting detailed structural examinations of mineral deposits. We are confident that we have the foundation model that provides high quality drill targets and can be refined from drill testing. As I have said previously, we are working toward our goal to identify 3.0 million oz of gold in mineral resources.”
Summary and conclusions from the SRK Report
SRK was commissioned by TMI to investigate the structural controls on gold mineralization at Central Jumbo within the Jumbo Trend at the Gold Springs Project. The Gold Springs Project is a low sulphidation epithermal exploration-stage prospect hosted in volcanic rocks in an extensional structural environment and a collapsed caldera setting, located in western Utah and eastern Nevada. Gold Springs has hundreds of old mine workings from six decades of historical high-grade gold production. Field observations and data analysis allow Dr. Caté to make the following interpretations:
- Auriferous breccias having N-S to NNW-SSE orientations and subvertical plunge is consistent with E-W extension. Auriferous shoots are oriented N-S to NNW-SSE and have shallow plunges, which is consistent with E-W extension.
- A stress system corresponding to an E-W extension results in N-S-striking normal faults (N-S veins), E-W-striking dip-slip faults, and a conjugate, or cross-cutting, system of NW-SE right lateral and NE-SW left lateral strike-slip faults.
- Under the proposed syn-mineralization stress regime, auriferous shoots in N-S faults are sub horizontal or shallow and are located in the steepest plunging sections of the faults; auriferous shoots in NW-SE and NE-SW faults are sub-vertical or steep and are located in bends within the faults.
- The general shape of the Jumbo Trend suggests a dominantly left lateral strike-slip setting as interpreted in the GRE (2017) structural report. This interpretation is consistent with field observations of, and with displacement, observations on fault planes. This suggests that strike-slip displacement occurred prior to the mineralization, since no strike-slip post-mineralization displacement was observed on N-S faults. Gold mineralization was likely emplaced in a pre-existing fault system that was reactivated as a syn-mineralization extensional system.
- Post-mineral breccias containing fragments of differing composition are locally present in auriferous zones.
- The highest-grade auriferous veins and breccia swarms are oriented N-S and NNW-SSE.
- Highest gold grades are associated with multiple brecciating/veining events, silicification, and wide and strong sericite and clay alteration haloes.
- The Central Jumbo/State Section area is less intensely altered at surface than the South Jumbo/Etna and North Jumbo zones. This suggests lower volumes of mineralizing fluids circulated through the State Section area at the current level of erosion.
Refer to the drill targets map and other figures from the SRK report in Appendix A.
Dr. Caté of SRK earned a doctoral degree in earth sciences from the National Institute of Scientific Research (INRS-ETE in Québec, Canada), a Master of Science and a Bachelor of Science, both in geology from the Institut Polytechnique LaSalle Beauvais. He previously worked as an exploration geologist for Teck Resources in Ireland. As a Ph.D. student, he worked on the Lalor volcanic massive sulphide deposit in Manitoba and has experience with various types of deposits. He was part of a team that won second place in Integra Gold’s Gold Rush Challenge in 2016, regarding exploration targeting at Integra’s Lamaque Project in Val-d’Or, Québec.
Other business updates:
Turning to the Escalones copper-gold project in Chile, Mr. Edwards stated: “We continue to see interest from prospective, high-quality potential partners for our Escalones Project. The process of evaluation of a value-accretive partnership is ongoing to advance the Escalones Project more rapidly and contribute value to TMI shareholders by combining efforts in a potential partnership.”
In other matters, regarding the international arbitration case on the Company’s former Bolivian asset, TMI anticipates that a ruling of the International Court of Arbitration may be issued in the coming months.
TriMetals Mining Inc. (TSX: TMI and OTCQX: TMIAF) 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, U.S.A.
The Company’s Class B shares are listed on the Toronto Stock Exchange under “TMI.B”. 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 after expenses, if any, received by TMI from award or settlement in relation to the Company’s subsidiary’s arbitration proceeding against Bolivia.
The Qualified Person on the Gold Springs Project is Randall Moore, Executive Vice President of Exploration - North America for TMI and he has reviewed and approved the content of this news release. Mr. Moore has more than 40 years of mineral exploration experience and is a Professional Geologist and Registered Member of the Society of Mining, Metallurgy, and Exploration.
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”, “indicates”, “strengthening”, “process”, “will” and similar expressions. The statements regarding the existence of prospective gold mineralization in Central Jumbo and the belief that resource mineralization through North Jumbo to South Jumbo may be connected and also extended to the north and south, as well as 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 the date hereof.
President & CEO
Figure 1: SRK Preliminary Structural Targeting at Central Jumbo within the Jumbo Trend at the Gold Springs Project in Utah.
Potential drill target areas are marked in blue with priority recommendations labelled.
Figure 2: Location maps of the Jumbo Trend area and mineralized zones with (A) Lidar map background and (B) ZTEM inversion resistivity map of offset -463. North Jumbo is in the area marked, “Jumbo,” South Jumbo is in the area marked, “Etna” and Central Jumbo is in the area marked, “State Section.”
Figure 3: Inclined view of the North Jumbo and South Jumbo zones looking ENE with plunge 63°.10T. Modelled gold veins are in red, and the andesite-lithic tuff fault contact is in green.