TSX: TML
TORONTO, Aug. 1, 2017 /PRNewswire/ - Treasury Metals
Inc. (TSX: TML) ("Treasury" or the "Company")
is pleased to announce it has commenced the Phase II drilling
exploration program at the Company's flagship Goliath Gold Project
located in Northwestern
Ontario.
The Phase II program will consist of 15,000 metres of
underground infill drilling in the Main Zone resource area. In
addition, an expansion and exploration program of 15,000 metres
will focus on 'high priority' step out targets outside of the known
Goliath resource area along strike to the northeast to test near
surface targets as well as extending down-dip below the current
resource in both the Main and C Zone areas.
Infill Drilling Program
The initial 15,000 metres of infill drilling will allow for
further resource conversion from inferred to the indicated
category, primarily in the lower extents of the central and eastern
shoots of the Main Zone resource area. The drill holes are outlined
in the attached image.
At the conclusion of the infill program an updated NI 43-101
Resource Estimate, incorporating all of the new drill results since
the resource was last updated in 2015, will be completed for the
Feasibility Study. The Company expects the infill drilling program
to be completed by December.
Expansion and Exploration Program
The second 15,000-meter drill program will focus on: 1)
underground drilling of known gold mineralization, in particular,
the central area of the Main Zone; and 2) step out drilling along
strike to the northeast of the proposed open pit, including
follow-up work from the Phase I condemnation program completed in
July, 2017.
Drill results from the recent 5,000 metre condemnation drilling
program will be issued in the near future.
The technical information in this press release has been
reviewed and approved by Adam
Larsen, P. Geo, who is the qualified person under the
definitions established by National Instrument 43-101.
To view further details about the Company and Goliath Gold
Project, please visit the Company's website at
www.treasurymetals.com.
About Treasury Metals Inc.:
Treasury Metals Inc. is a gold focused exploration and
development company with assets in Canada and is listed on the Toronto Stock
Exchange ("TSX") under the symbol "TML". Treasury Metals Inc.'s
100% owned Goliath Gold Project in northwestern Ontario is slated to become one of
Canada's next producing gold
mines. With first-rate infrastructure currently in place and gold
mineralization extending to surface, Treasury Metals plans on the
initial development of an open pit gold mine to feed a 2,500 per
day processing plant with subsequent underground operations in the
latter years of the mine life.
Follow us on Twitter @TreasuryMetals
Forward-looking Statements
This release includes certain statements that may be deemed to
be "forward-looking statements". All statements in this release,
other than statements of historical facts, that address events or
developments that management of the Company expect, are
forward-looking statements. Actual results or developments may
differ materially from those in forward-looking statements.
Treasury Metals disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, save and except as may be
required by applicable securities laws.
SOURCE Treasury Metals Inc.
