LONDON, ONTARIO — (Marketwire) — 04/26/11 — Trueclaim Exploration Inc. (“Trueclaim”) (TSX VENTURE:TRM)TRMNF is pleased to announce significant intersections in the North Zone, including 3.5 g/t Au over 10.0 metres in hole TRM-11-15 on the Scadding Gold Property (the “Property”).
Trueclaim has currently completed 4,000 metres of Phase II, 8,000 metre drill program on the Property. After successful drilling in the South Zone with significant results, six oriented holes recommended by SRK Consulting were drilled in the North Zone to obtain precise structural information on the nature of the mineralization and trend of the brecciation. All holes were successful in hitting chlorite zones and the results are listed below with a section of the highlighted holes:
-------------------------------------------------------------------------
Hole Interval Grade
-------------------------------------------------------------------------
From To Length Au
Hole ID (m (ft)) (m (ft)) (m (ft)) (g/t)
----------------------------------------------------------------------
TRM-11-11 50.0 (164.0) 54.42 (178.5) 4.42 (14.5) 2.32
TRM-11-12 32.0 (105.0) 38.0 (124.7) 6.0 (19.7) 2.79
TRM-11-13 97.0 (318.2) 99.0 (324.8) 2.0 (6.6) 0.44
TRM-11-14 61.0 (200.1) 66.0 (216.5) 5.0 (16.4) 2.39
Containing 62.0 (203.4) 63.0 (206.7) 1.0 (3.3) 10.17
TRM-11-14 104.7 (343.5) 113.0 (370.7) 8.3 (27.2) 1.35
TRM-11-15 10.0 (32.8) 16.62 (54.5) 6.62 (21.7) 1.02
TRM-11-15 30.0 (98.4) 40.0 (131.2) 10.0 (32.8) 3.5
Containing 32.0 (105.0) 36.0 (118.1) 4.0 (13.1) 7.72
TRM-11-16 38.5 (126.3) 51.5 (169.0) 13.0 (42.7) 1.88
Containing 38.5 (126.3) 42.5 (139.4) 4.0 (13.1) 4.58
----------------------------------------------------------------------
To view drill intersections please click on the following link: http://media3.marketwire.com/docs/TRM0426.pdf
Oriented core has never been drilled on the property before. The nature of the mineralized breccia is structurally complex and historically was poorly understood, thus the data is very significant in aiding the geological team in the right direction for the upcoming phase of delineation drilling in the North Zone.
Recently the Currie Rose New Zone was evaluated with about 700 metres of drilling, chlorite was present in all holes and assay results are pending. Visible gold was found in TRM-11-22 at 32m.
The next phase of the drill program includes two oriented holes in the East-West Zone to get a precise orientation of the chlorite. This will be undertaken before exploratory drilling takes place. Four oriented holes are planned in the South Zone. This will assist the geological team to project the mineralization along strike and to depth, increasing the accuracy of exploratory drillholes. Trueclaim holds the Scadding property under option from Currie Rose Resources and has the right to earn a 100% working interest in the property.
We seek safe harbour.
TRUECLAIM EXPLORATION INC.
John Carter, President
Technical information in this news release has been reviewed by Mr. Bob Komarechka, P. Geo. and prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101. Trueclaim's (the “Company”) quality control and assurance program includes the insertion of standards and blanks, the retention of 1/2 of the cut core that has been sampled, pulps and rejects, and uses a independent certified lab, Accurassay Laboratories of Thunder Bay, ON. Samples are sent for fire assay and if warranted for ICP. Assays of significance are reassayed using screen metallics to ensure accurate values. Company Management, which takes full responsibility for content, prepared this news release.
This news release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward-looking statements” (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “potential”, “estimate”, “propose”, “project”, “outlook”, “foresee” or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others, those concerning the proposed diamond drilling program. All statements in this news release, other than statements of historical facts, which address future production, reserve potential, exploration activities, financing plans, objectives or goals, and events or developments that the Company expects, are forward-looking statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding its ability to complete its exploration and development work as expected. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of the Company's continued development work, technical, safety or regulatory issues, market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Actual results or developments may differ materially from those projected in the forward-looking statements, as assay intervals might not necessarily represent true width. Such risks include expectations that may be raised by discussing potential mine types and by comparing the Company's projects to other projects. Also, in order to proceed with the Company's exploration and acquisition plans, additional funding is necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate the Company's plans. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Trueclaim Exploration Inc.
John Carter
President
519-913-8008
1-888-686-1405 (FAX)
www.trueclaim.ca
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
