- TRU Precious Metals (TRU) commences 5,000 metre drill program at Golden Rose Project
- Golden Rose is a regional-scale land package covering 215.25 square kilometres (km2), including approximately 45 km of strike length
- The Cape Ray-Valentine Lake fault system, on which Golden Rose is located, bisects central Newfoundland from southwest to northeast
- Exploration along this regional structure along trend of Golden Rose has revealed the presence of significant gold mineralization
- TRU Precious Metals Corp. (TRU) is down 3.45 per cent, trading at C$0.14 at 1:39 pm ET
TRU Precious Metals (TRU) has commenced a 5,000-metre diamond drill program at its flagship Golden Rose Project, in the Central Newfoundland Gold Belt.
Golden Rose is a regional-scale land package covering 215.25 square kilometres (km2), including approximately 45 km of strike length along with the deposit-bearing Cape Ray -Valentine Lake structural corridor between Marathon Gold Corp.’s Valentine Gold Project to the northeast and Matador Mining Ltd.’s Cape Ray Gold Project to the southwest.
TRU Co-Founder and CEO, Joel Freudman, commented: “We are excited to finally start our drill program at Golden Rose. Its geologically strategic location, sandwiched between two neighbours with significant known gold deposits, provides an undeniable advantage.”
“Since announcing our deal to acquire Golden Rose in January of this year, we have been busy preparing for this moment, and now a mere nine months later, we are breaking ground. This drill program marks a seminal event for TRU that will significantly impact TRU’s future as an exploration company of merit.
In addition to our wide-ranging surface-level exploration efforts over the past several months, we have worked closely with our technical consultants at Goldspot Discoveries Corp. and have drawn on their expertise to further shore up all facets of our drill program.”
The Cape Ray-Valentine Lake fault system, on which Golden Rose is located, bisects central Newfoundland from southwest to northeast. It is a crustal-scale feature, the trace of which is marked in the southwest by the Windsor Point Group and in the central and northeastern areas by the Rogerson Lake Conglomerate.
These units are syn-orogenic upper crustal clastic sequences, which elsewhere are commonly associated with orogenic gold vein systems. Exploration along this regional structure along the trend of Golden Rose has revealed the presence of significant gold mineralization, namely Matador’s Cape Ray gold deposits and Marathon’s Valentine Lake gold deposits.
KG4 is geologically located along the structural contact between the younger Windsor Point Group and the older King George IV ophiolite. Notably, the mineralized quartz stockwork blocks and panned pristine gold grains are located along the magnetic low which defines this structural contact. To the southwest, on Matador’s Cape Ray project, gold deposits are associated with a similar structural contact.
TRU is drilling for gold in the highly prospective Central Newfoundland Gold Belt and has an option with a subsidiary of TSX-listed Altius Minerals Corporation to purchase 100 per cent of the Golden Rose Project, located along with the deposit-bearing Cape Ray – Valentine Lake Shear Zone.
TRU Precious Metals Corp. (TRU) is down 3.45 per cent, trading at C$0.14 at 1:39 pm ET.
