TORONTO, ONTARIO--(Marketwire - March 28, 2011) - Treasury Metals Inc. ("Treasury Metals" or the "Company") (News - Market indicators) is pleased to announce additional drill results from its current 20,000 metre diamond drilling campaign at the Goliath Gold Project. The Company reports high-grade intersections (in table), with the best results being 23.22 g/t Au over 5.11metres in hole TL11-132 and 14.87 g/t over 7.00 metres in hole TL11-130. These drill holes are located near the eastern boundary of the existing resource and continue to define a high grade zone at the Goliath Gold Project.
Significant gold intersections include:
| Drill Hole |
From(m) |
To(m) |
*Interval(m) |
Au(g/t) |
Comments |
| TL11-128 |
373.50 |
376.50 |
3.00 |
2.16 |
Main Zone |
| TL11-129 |
351.00 |
364.00 |
13.00 |
2.73 |
Main Zone |
| |
including |
358.50 |
361.50 |
3.00 |
6.88 |
Main Zone |
| TL11-130** |
335.00 |
342.00 |
7.00 |
14.87 |
Main Zone |
| TL11-131 |
388.90 |
390.40 |
1.50 |
9.19 |
Main Zone |
| TL11-132** |
198.00 |
203.11 |
5.11 |
23.22 |
Main Zone |
| TL11-133 |
337.00 |
339.00 |
2.00 |
1.36 |
Main Zone |
| *Intervals do not necessarily indicate true widths. Holes drilled at approx. 320°Az and dip of -60°. |
| |
| **Cut value (using a top-cut of 50 g/t) TL11-130: 9.27g/t over 7.00m and TL11-132: 7.84 g/t over 5.11m. |
Treasury Metals continues drilling at the Goliath Project with two drill rigs currently turning on-site and is well funded to complete its 20,000m drill program.
Martin Walter, CEO of Treasury Metals commented, "The tenure of drilling results is improving as we gain a better understanding of the deposits' geometry and the latest results are exceeding expectations and the results of previous drilling. We are encouraged that the resource remains wide open in that direction and is showing significant promise. We are seeing a greater consistency in terms of intersecting wider intersections of high-grade gold mineralization as we define the eastern (high-grade) shoot."
To view the map associated with this release, please visit the following link – http://media3.marketwire.com/docs/LongSectionImage.pdf.
Technical information in this press release has been reviewed and approved by Andrew Cheatle, P.Geo., Vice President, Exploration of Treasury Metals, who is a qualified person under the definitions established by National Instrument 43-101.
The Company has implemented a quality assurance and quality control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in accordance with the CIM Exploration Best Practices Guidelines. The drill core is sawn in half with one half of the core samples shipped to Accurassay Laboratories in Thunder Bay, Ontario. The other half of the core is retained for future assay verification, and/or metallurgical testing. Other QA/QC procedures include the insertion of blind blanks and standards for every tenth sample in the sample stream. Selected quarter core duplicates were assayed for 5% of the samples. The laboratory re-assays 10% of all samples (pulps and rejects) and additional checks are routinely run on anomalous values including gravimetric analysis and pulp metallics. Gold analysis is conducted by lead collection, fire assay with atomic absorption and / or gravimetric finish on a 30 gram sample. Check assays by a secondary lab are completed as necessary.
For additional information on Treasury Metals and a complete map of drill holes, please visit the Company's website at www.treasurymetals.com.
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.