- PROPOSED PLANS FOR INFILL DRILLING AND EXTENSION OF KNOW MINERALIZATION AS WELL AS AT DEPTH
- TEST NEW TARGETS ON PROPERTY FOR GOLD MINERALIZATION ALONG STRIKE AND IN PARALLEL STRUCTURES
Vancouver, British Columbia, Canada – July 15, 2020 – Trillium Gold Mines Inc. (TSXV:TGM) (“Trillium” or the “Company“) is pleased to announce that it will begin exploration drilling after a 7-year hiatus on the Newman Todd property, which is subject to a joint venture agreement in which the Company has a controlling interest, where more than 55,000 metres of drilling has been previously completed. The property has favourable geology with typical “Red Lake” alteration and northeast trending structures and is located in the prolific Red Lake gold district of Northwestern Ontario, Canada.
The proposed exploration program currently has 14 planned holes, with a minimum 3,000m. Only 2.2 km of mineralized strike-length has been tested to date, remaining open to the north-east, south-west and at depth.
The property is underexplored with multiple untested zones and an emerging geological model that will generate further targets. The Newman Todd Structure (“NTS”) remains the primary focus for this initial drill plan with drill testing along strike and at depth.
Hole NT-129 (2012) was the deepest hole historically and intercepted favourable host lithologies between 787 metres and 932 metres (145-metre interval) below surface. This is encouraging as the widths are comparable to those observed in shallower exploration (up to 400 meters depth) and shows potential for continuity down dip. At 832 metres true depth, an interval of 7.89 grams per ton gold (g/t Au) over 2.0 metres was intercepted, showing that the mineralization mechanisms continue at depth and are remain untested. Further intervals are listed on our website. Other ore bodies in the Red Lake Gold Camp such as the Campbell Mine continue to depths exceeding two kilometres below surface.
The NTS is a large-scale alteration/deformation zone. The iron carbonate alteration within the NTS are interpreted to be associated with large, multistage hydrothermal systems. Gold mineralization in the NT zone is occurs with silica and/or sulphide replacement of iron carbonate within altered iron rich sedimentary and volcanic rocks.
The Company will call a management committee meeting of the joint venture to approve the above-mentioned proposed exploration program. The approval of such program would require a simple majority vote whereby each joint venture party can cast one vote for each one percent interest owned by that party. The Company has more than the sufficient votes required to approve the proposed exploration program. It is expected that the Company can begin executing on the proposed exploration program within the next 30 to 45 days.
David Velisek, CEO of Trillium Gold Mines, stated, “with our new technical and new management teams, our renewed efforts to drill the NT Structure with goals to increase the size and grade of known mineralized zones, follow high grade mineralization to depth and to explore along strike and in potential parallel structures in order to discover new gold zones.”
The Newman Todd Property is situated in the Red Lake Greenstone Belt, which hosts the world class high-grade Red Lake/Campbell gold deposit, 25 km to the east.
The technical information presented in this news release has been reviewed and approved by Andy Randall QP, PGeo, a technical advisor to Trillium Gold Mines, as defined by NI 43-101.
For further information about this news release and the Company’s current activities contact [email protected], visit our website at www.trilliumgold.com or call us at 604-688-9588.
On behalf of the Board of Directors,
Trillium Gold Mines Inc.
CEO and Director
About Trillium Gold Mines Inc.
Trillium Gold Mines Inc. is a British Columbia based company engaged in the business of acquisition, exploration and development of mineral properties located in the highly prospective Red Lake Mining District of Northern Ontario.
Disclosure and Caution
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This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors, including the availability of funds and the results of financing efforts, that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.