|By Marketwired .||
|August 27, 2014 06:00 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/27/14 -- TriMetals Mining Inc. (TSX: TMI)(TSX: TMI.B)(OTCQX: TMIAF)(OTCQX: TMIBF) is pleased to announce the continuation of its drill program at the Gold Springs gold-silver project in the mining friendly jurisdictions of Nevada and Utah, USA. Now that results have been received and analyzed from the first round of 2014 drilling, TMI is planning a second round of drilling, to start in early September that will follow up the earlier reported drilling in the Jumbo target which includes a NI43-101 compliant mineral resource. The first round of 2014 drilling at Jumbo identified higher grades in a continuous zone of mineralization extending 300 meters which is open to expansion (NR 14-17). The next phase of drilling will look to expand this new zone down dip and along strike with the intension to add to the current resource.
Ralph Fitch, President and CEO of TriMetals Mining Inc. (the "Company") stated, "The next series of holes at Jumbo are designed to expand the 'higher grade' zone intersected in the first round of 2014 drilling. This drill program will be seeking to intersect this same style of mineralization as seen in the earlier holes over an additional strike length of 400 metres which would potentially expand this zone to a 700 metre strike length. Any success here in locating further 'higher grade' mineralization will be an important addition to the Jumbo resource block and the project."
The ongoing 2014 program at Gold Springs will include further RC drilling at Jumbo, designed to expand the resource and 2-4 diamond drill holes on both the Jumbo and Grey Eagle resource blocks to provide metallurgical, density and detailed geological information. The large size drill core (H size) will enable metallurgical column tests of up to 1.5 inch material which will give very valuable information regarding gold and silver recoveries in the "heap leach" setting.
The program will continue the permitting process and move to complete the Plan of Operations on the Utah side of the project. The Company is already operating under a Plan of Operations on the Nevada side of the project.
Ralph Fitch went on to say, "The Grey Eagle results reported below confirm the shape of the mineralized zone but limit its expansion potential to the immediate south due to faulting and erosion. This does not however, preclude expansion potential further to the west or north. Future drilling will test these areas.
"It's good to remember that we are still drilling the first two (three including the first few holes at Etna) of 18 areas of outcropping gold mineralization which does not include the many additional kilometres of buried geophysical targets. In fact we estimate that less than 10% of the prospective areas at Gold Springs have been drilled, so there is a significant opportunity to expand the areas of gold-silver mineralization through drilling, further enhancing both the project and the Company as we move the project closer to production. This next round of drilling is designed to expand the current resource moving us closer to our initial goal of 1,000,000 oz of gold equivalent."
The latest results from the 9 RC holes completed in the Grey Eagle target indicate that the immediate southern extension of the mineralized zone seen in the holes drilled in 2013 is weaker because faulting has offset the stronger mineralization or it has been eroded prior to the deposition of the post mineral cover. Eight of the nine holes can be divided into 2 sets. The first set was designed to look for the eastern up-dip edge to the strong mineralization discovered in 2013, seen for example, in holes GE 13-005, 008, 036 and 039 (61m @ 1.07 g/t AuEq(i), 65.5m @ 0.7 g/t AuEq(i), 73.2m @ 0.66 g/t AuEq(i), 47.2m @ 0.55 g/t AuEq(i), respectively) (HDG PR 2013: 16, 21, 24, 26 can be seen at www.sedar.com under High Desert Gold Corporation's SEDAR profile). The new results, whilst positive, indicate that the up-dip, eastern, near surface extensions of the mineralized zone have been partially eroded reducing the widths of the intercepts or removing them almost entirely as in GE-14-001 and 003. An example of these partial intercepts can be seen in the east-west section that includes RC hole GE13-023 (previously reported HDG PR 13-21) from last year which included:
71.6m averaging 0.9 g/t AuEq(i)
This intercept is located in the center of the Grey Eagle resource block with the 2014 holes GE-14-002 and 008 located on the eastern edge of the block where they intercepted the partially eroded zone:
GE-14-002 21m @ 0.6 g/t AuEq(i)
GE-14-008 27m @ 0.6 g/t AuEq(i)
True From To Length Average Average AuEq(i) Thickness RC Hole AZ Inclin (m) (m) (m) Au g/t Ag g/t g/t (m) GE-14-002 120 -60 59.4 91.4 32.0 0.38 5.39 0.47 32.0 GE-14-002 64.0 85.3 21.3 0.48 6.24 0.59 21.3 GE-14-002 68.6 79.2 10.7 0.71 8.41 0.86 10.7 GE-14-008 120 -60 53.3 93.0 39.6 0.38 4.88 0.47 39.6 GE-14-008 61.0 88.4 27.4 0.50 5.82 0.60 27.4 GE-14-008 61.0 77.7 16.8 0.71 8.02 0.85 16.8 Cut off of 0.1g/t AuEq(i). (i)Gold Equivalent ("AuEq") uses a Au/Ag ratio of 57.14 and assumes 100% metallurgical recoveries. AZ=Azimuth. Inclin=Inclination of drill hole.
The second set of holes were placed one to two hundred metres further south than the 3013 drilling and were designed to test for extensions of the mineralized zone in a southerly direction. Results suggest that the Grey Eagle mineralized zone has been eroded and down-faulted in this area. Although anomalous gold values were detected, no significant mineralization was found in these holes.
The ninth RC hole was designed to test the western extension of the Grey Eagle mineralization. The hole intersected a post mineral dyke-rock that cut out some of the mineralized zone. It does however, show that the mineralized zone continues in a westerly direction. Future drilling will further define the mineralization in this area.
True From To Length Average Average AuEq(i) Thickness RC Hole AZ Inclin (m) (m) (m) Au g/t Ag g/t g/t (m) GE-14-009 0 -90 166.1 173.7 7.6 0.50 7.36 0.63 6.6 GE-14-009 166.1 189.0 22.9 0.38 4.01 0.45 19.8 GE-14-009 184.4 190.5 6.1 0.83 1.45 0.85 5.3 GE-14-009 166.1 170.7 4.6 0.82 8.63 0.97 4.0 Cut off 0.1g/t AuEq. (i)Gold Equivalent ("AuEq") uses a Au/Ag ratio of 57.14 and assumes 100% metallurgical recoveries. AZ=Azimuth. Inclin=Inclination of drill hole.
For more details on Gold Springs please visit our website: www.trimetalsmining.com.
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 advancement of the large scale Escalones copper-gold project in Chile; and realization of value from the expropriated Malku Khota project in Bolivia through an arbitration process.
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". 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.
Quality Assurance and Quality Control
Approximately 5.5 kg of RC chips are sent to the laboratory for each 1.52 metre drill interval. 5% of the samples submitted by the Company are blanks and standards. 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: Assays were performed in Reno, Nevada by Inspectorate Laboratories, an ISO 9001:2000 Certified laboratory. Gold was analyzed by fire assay of a 30 gram sample with an AAS finish (FA430). All other elements were analyzed by the 30element, 4 acid ICP method (MA330).
Gold Equivalence: AuEq(i) was calculated using a gold/silver ratio of 57.14 to be consistent with that used for previously reported drill results and have not been adjusted for metallurgical recoveries.
Certain statements contained herein constitute "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 "prospective", "opportunity", "suggest", "expansion", "further", "could", "would", "potential", "designed to", "intension", "goal", "will" and similar expressions. Information concerning the interpretation of drill results may also be considered forward-looking statements as such information constitutes a prediction of what mineralization might be found to be present if and when a mining project is actually developed. 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, possible variations in mineral resources, grade, metal prices; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated; regulatory, environmental and other risks of the mining industry more fully described in the Company's Annual Information Form, which is 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 news 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 news release describe the Company's expectations as of August 27, 2014.
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