Welcome!

News Feed Item

True Gold Finds Extension of Nami Deposit, Intersects 29.5 g/t Gold Over 6.0 Metres

New drilling extends the Nami deposit by 250 metres to the north

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/09/14 -- True Gold Mining Inc. (TSX VENTURE:TGM) ("True Gold" or the "Company") is pleased to announce that step-out drilling at the Karma Gold Project's Nami deposit ("Nami") intersected 29.5 g/t gold over 6.0 metres and extended the deposit 250 metres north, along a corridor 150 metres wide. This previously untested extension has the potential to add an additional 50% to the strike length of the current Nami deposit outlined in the Feasibility Study. The deposit remains open for further expansion.

Holes RMB14RC-115 and RMB14RC-107 each intersected shallow, high-grade, oxidized gold mineralization at depths of less than 60 metres, including:

--  29.5 g/t Au over 6.0 metres, in RMB14RC-115, including 
    --  44.08 g/t Au over 4.0 metres; 
        
--  0.99 g/t Au over 12.0 metres, in RMB14RC-107. 

"We strongly believe that this northern Nami extension will add to the overall resource at Nami in much the same way that North Kao has added to the Kao deposit," stated Scott Heffernan, Vice President, Exploration, of True Gold. "Ongoing exploration results like these continue to support our belief that the resource expansion potential at Karma is exceptional."

Gold mineralization at Nami exhibits the same intrusive-hosted, shallow-dipping structural style found within Kao and North Kao, Karma's two largest gold deposits, where continuity has been demonstrated over strike a length of 1.6 kilometres. North Kao was a blind discovery in 2013 and now has an inferred mineral resource of 1.66 million ounces (47.8 million tonnes at an average grade of 1.08 g/t gold; see March 13, 2014 news release). Like North Kao, the shallow dipping structures found at Nami can be drilled off rapidly for very low costs. Of note, oxide, transition and sulphide mineralization at Nami is all leachable, as per the Feasibility Study(1).

To review a drill map for the Nami extension, please click on this link:

http://www.truegoldmining.com/sites/default/files/NamiDrillMap1425.pdf

For a full table of recent results related to gold mineralization, please click on this link:

http://www.truegoldmining.com/sites/default/files/NamiDrillResults1425.pdf

RC drilling around the periphery of the Nami deposit was designed to test the strike extents of the dominant structural controls as mapped by a recently completed 20 line-km gradient array IP and magnetic survey. To date, True Gold has completed 2,812 metres in 20 holes in the Nami area as part of the greater 2014 exploration program. True Gold will continue testing this Nami extension along strike.

True Gold's 2014 exploration program was launched in early May and is designed to both expand existing deposits and test new targets. Results from Nami are the first in a series of exploration updates we anticipate providing, as results become available. To date, we have completed approximately two thirds of a planned 15,000 metre combined core and RC drill program. In additional to drilling, 315 line-kilometres of IP and an extensive soil sampling program are also underway.

(1) See Technical Report, entitled "Updated Resource Estimate and Feasibility Study on the Karma Gold Project," prepared by P&E Mining Consultants Inc. dated effective December 17, 2013, a copy of which is available under the Company's profile on SEDAR at www.sedar.com.

Qualified Persons

Scott Heffernan, M.Sc., P.Geo., and the Vice President, Exploration for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and verified that the technical information contained in this release is accurate and approves of the written disclosure of same. Holes were drilled at an azimuth of 45, 90 and 360 degrees and with dips of -60 at Nami. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals are interpreted to be 50 to 90 percent of the reported lengths. Samples were submitted to ALS Chemex in Ouagadougou, Burkina Faso for geochemical analysis for gold by fire assay of a 30-gram charge with an Atomic Absorption finish (AA). Samples with AA assays over 5.0 g/t were re-assayed by Fire Assay with gravimetric finish. Control samples (accredited standards, blanks and duplicate samples at the field and preparation stages) were inserted on a regular basis. Results were monitored on receipt of assays.

The potential quantity and grade of the Nami North target is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain that further exploration will result in the target being delineated as a mineral resource.

About True Gold

True Gold Mining Inc. is where gold comes to life. We are committed to growing a successful gold exploration, development and production company, by focusing on projects with low costs, low technical risks and solid economics. The Company's board, management and technical teams have proven track records in gold exploration, development, operations and production worldwide.

Additional information about the Company and its activities may be found on the Company's website at www.truegoldmining.com and under the Company's profile at www.sedar.com.

ON BEHALF OF THE BOARD                            
"Dwayne Melrose"                                  
--------------------------------------------------
Dwayne Melrose, President & CEO                   

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain statements made and information contained in this news release and elsewhere constitutes "forward-looking information" within the meaning of Canadian securities legislation. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may constitute forward-looking statements. Such forward-looking statements are based on certain assumptions and are subject to risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, with respect to statements regarding officer appointments and resignations, the potential to growing a successful gold exploration, development and production company, ability to find projects with low costs, low technical risks and solid economics, expectations that corporate social responsibility ("CSR") programs and local community engagement will reduce project risk, continued excellent community relations that will bear clear benefits for local residents and the Company, including improved project design, reduced costs, water for community use and reduced social impacts, continued local community support for the development of the Karma Project, the possibility that the key personnel in the Karma Project CSR leadership team may not perform as anticipated or remain with the Company, accidents, and risks and uncertainties relating to equipment breakdowns, risk of undiscovered, title defects and surface access, labour disputes, the potential for delays in exploration and permitting activities, the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, political risk, the potential accretive nature that newly discovered mineralization at previously disclosed drill targets may have on the Karma Project, the potential for growth and scalability of the Karma Project including, but not limited to, potential for additional mining centres, continued exploration success, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration and development results in the Karma Project will not be consistent with the Company's expectations, the initial resource estimate on the Kao North discovery (as disclosed in the Technical Report dated effective March 13, 2014 titled "Technical Report and Updated Resource Estimate on the Karma Gold Project Burkina Faso, West Africa" which is available under the Company's profile at www.sedar.com), and other risks and uncertainties including those described under Risk Factors in each management discussion and analysis and in the Company's annual information form which are available under the Company's profile at www.sedar.com.

Forward-looking information is based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access required financing to be in a position to consider a production decision, appropriate and sufficient equipment and labour will be available and accessible to the Company to meet its development goals, retention of key personnel and that the political environment within Burkina Faso will continue to support the development of environmentally safe mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Contacts:
Investor inquiries:
Blaine Monaghan
Tel: 604-801-5020
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, added the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor analytic...
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science," is responsible for setting the strategy and defining the Big Data service offerings and capabilities for EMC Global Services Big Data Practice. As the CTO for the Big Data Practice, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He's written several white papers, is an avid blogge...
Charles Araujo is an industry analyst, internationally recognized authority on the Digital Enterprise and author of The Quantum Age of IT: Why Everything You Know About IT is About to Change. As Principal Analyst with Intellyx, he writes, speaks and advises organizations on how to navigate through this time of disruption. He is also the founder of The Institute for Digital Transformation and a sought after keynote speaker. He has been a regular contributor to both InformationWeek and CIO Insight...
Michael Maximilien, better known as max or Dr. Max, is a computer scientist with IBM. At IBM Research Triangle Park, he was a principal engineer for the worldwide industry point-of-sale standard: JavaPOS. At IBM Research, some highlights include pioneering research on semantic Web services, mashups, and cloud computing, and platform-as-a-service. He joined the IBM Cloud Labs in 2014 and works closely with Pivotal Inc., to help make the Cloud Found the best PaaS.
It is of utmost importance for the future success of WebRTC to ensure that interoperability is operational between web browsers and any WebRTC-compliant client. To be guaranteed as operational and effective, interoperability must be tested extensively by establishing WebRTC data and media connections between different web browsers running on different devices and operating systems. In his session at WebRTC Summit at @ThingsExpo, Dr. Alex Gouaillard, CEO and Founder of CoSMo Software, presented ...
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world.
One of the biggest challenges with adopting a DevOps mentality is: new applications are easily adapted to cloud-native, microservice-based, or containerized architectures - they can be built for them - but old applications need complex refactoring. On the other hand, these new technologies can require relearning or adapting new, oftentimes more complex, methodologies and tools to be ready for production. In his general session at @DevOpsSummit at 20th Cloud Expo, Chris Brown, Solutions Marketi...
In a world where the internet rules all, where 94% of business buyers conduct online research, and where e-commerce sales are poised to fall between $427 billion and $443 billion by the end of this year, we think it's safe to say that your website is a vital part of your business strategy. Whether you're a B2B company, a local business, or an e-commerce site, digital presence is key to maintain in your drive towards success. Digital Performance will take priority in 2018 for the following reason...
At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
I think DevOps is now a rambunctious teenager - it's starting to get a mind of its own, wanting to get its own things but it still needs some adult supervision," explained Thomas Hooker, VP of marketing at CollabNet, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
What's the role of an IT self-service portal when you get to continuous delivery and Infrastructure as Code? This general session showed how to create the continuous delivery culture and eight accelerators for leading the change. Don Demcsak is a DevOps and Cloud Native Modernization Principal for Dell EMC based out of New Jersey. He is a former, long time, Microsoft Most Valuable Professional, specializing in building and architecting Application Delivery Pipelines for hybrid legacy, and cloud ...
In this presentation, you will learn first hand what works and what doesn't while architecting and deploying OpenStack. Some of the topics will include:- best practices for creating repeatable deployments of OpenStack- multi-site considerations- how to customize OpenStack to integrate with your existing systems and security best practices.
The “Digital Era” is forcing us to engage with new methods to build, operate and maintain applications. This transformation also implies an evolution to more and more intelligent applications to better engage with the customers, while creating significant market differentiators. In both cases, the cloud has become a key enabler to embrace this digital revolution. So, moving to the cloud is no longer the question; the new questions are HOW and WHEN. To make this equation even more complex, most ...
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...
22nd International Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, and co-located with the 1st DXWorld Expo will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud ...