TriMetals Mining Inc. (TSX:TMI), (“TMI” or “the
Company”), announces the completion of a structural context
analysis identifying five prospective drill target areas in the
central portion (“Central Jumbo”) of the significant Jumbo Trend at
its flagship Gold Springs Project in the western U.S.A. TMI
will use the analysis to support further gold exploration and
future drilling at Gold Springs.
TMI engaged SRK Consulting (Canada) Inc. (“SRK”) from Toronto to
investigate the structural controls for gold mineralization within
the Central Jumbo area, between the North Jumbo and South Jumbo
resource zones. The North and South Jumbo zones lie within a
defined 5.5-kilometre-strike of the Jumbo Trend in Utah in the
eastern portion of the Gold Springs Project.
Dr. Antoine Caté of SRK produced the Central Jumbo structural
report (the “SRK Report”) for TMI based on interpretation from a
site visit to key outcrops and evaluating structural geology, which
were used to define the five drill target areas. TMI believes
that prospective gold mineralization exists in Central Jumbo and
that an improved understanding of the fault structures pervasive
throughout the area will greatly assist in future drill targeting.
Dr. Caté’s work will assist in this targeting.
Highlights of the SRK Report
- Gold mineralization is controlled and bounded within two
regional north-south trending fault lines that extend through the
extent of the Jumbo Trend
- Extensional basin and range type faulting generally dominates
and results in the regional north-south trending control
structures
Eric Edwards, President and CEO of TMI, said:
“An understanding of the structural setting and controls within
the Jumbo Trend is vital as we move forward with exploration and
work to potentially connect the mineral resource over the undrilled
2 km zone between Central Jumbo and South Jumbo (aka Etna).
We believe that the gold mineralization through North Jumbo to
South Jumbo may be connected and also extended to the north and
south. With a robust geologic model and scientific theory of
faulting sequence, relative movement and subsequent mineralizing
events that have occurred at Central Jumbo, we can move forward to
identifying the shifted resource blocks.”
Mr. Edwards continued, “The SRK Consulting Group is widely
recognized for their knowledge and experience in conducting
detailed structural examinations of mineral deposits. We are
confident that we have the foundation model that provides high
quality drill targets and can be refined from drill testing.
As I have said previously, we are working toward our goal to
identify 3.0 million oz of gold in mineral resources.”
Summary and conclusions from the SRK Report
SRK was commissioned by TMI to investigate the structural
controls on gold mineralization at Central Jumbo within the Jumbo
Trend at the Gold Springs Project. The Gold Springs Project is a
low sulphidation epithermal exploration-stage prospect hosted in
volcanic rocks in an extensional structural environment and a
collapsed caldera setting, located in western Utah and eastern
Nevada. Gold Springs has hundreds of old mine workings from six
decades of historical high-grade gold production. Field
observations and data analysis allow Dr. Caté to make the following
interpretations:
- Auriferous breccias having N-S to NNW-SSE orientations and
subvertical plunge is consistent with E-W extension. Auriferous
shoots are oriented N-S to NNW-SSE and have shallow plunges, which
is consistent with E-W extension.
- A stress system corresponding to an E-W extension results in
N-S-striking normal faults (N-S veins), E-W-striking dip-slip
faults, and a conjugate, or cross-cutting, system of NW-SE right
lateral and NE-SW left lateral strike-slip faults.
- Under the proposed syn-mineralization stress regime, auriferous
shoots in N-S faults are sub horizontal or shallow and are located
in the steepest plunging sections of the faults; auriferous shoots
in NW-SE and NE-SW faults are sub-vertical or steep and are located
in bends within the faults.
- The general shape of the Jumbo Trend suggests a dominantly left
lateral strike-slip setting as interpreted in the GRE (2017)
structural report. This interpretation is consistent with field
observations of, and with displacement, observations on fault
planes. This suggests that strike-slip displacement occurred prior
to the mineralization, since no strike-slip post-mineralization
displacement was observed on N-S faults. Gold mineralization was
likely emplaced in a pre-existing fault system that was reactivated
as a syn-mineralization extensional system.
- Post-mineral breccias containing fragments of differing
composition are locally present in auriferous zones.
- The highest-grade auriferous veins and breccia swarms are
oriented N-S and NNW-SSE.
- Highest gold grades are associated with multiple
brecciating/veining events, silicification, and wide and strong
sericite and clay alteration haloes.
- The Central Jumbo/State Section area is less intensely altered
at surface than the South Jumbo/Etna and North Jumbo zones. This
suggests lower volumes of mineralizing fluids circulated through
the State Section area at the current level of erosion.
Refer to the drill targets map and other figures from the SRK
report in Appendix A.
Dr. Caté of SRK earned a doctoral degree in earth sciences from
the National Institute of Scientific Research (INRS-ETE in Québec,
Canada), a Master of Science and a Bachelor of Science, both in
geology from the Institut Polytechnique LaSalle Beauvais. He
previously worked as an exploration geologist for Teck Resources in
Ireland. As a Ph.D. student, he worked on the Lalor volcanic
massive sulphide deposit in Manitoba and has experience with
various types of deposits. He was part of a team that won second
place in Integra Gold’s Gold Rush Challenge in 2016, regarding
exploration targeting at Integra’s Lamaque Project in Val-d'Or,
Québec.
Other business updates:
Turning to the Escalones copper-gold project in Chile, Mr.
Edwards stated: “We continue to see interest from prospective,
high-quality potential partners for our Escalones Project.
The process of evaluation of a value-accretive partnership is
ongoing to advance the Escalones Project more rapidly and
contribute value to TMI shareholders by combining efforts in a
potential partnership.”
In other matters, regarding the international arbitration case
on the Company’s former Bolivian asset, TMI anticipates that a
ruling of the International Court of Arbitration may be issued in
the coming months.
About TMI
TriMetals Mining Inc. (TSX:TMI) (OTCQX:TMIAF) is a
growth-focused mineral exploration company creating value through
the exploration and development of the near-surface Gold Springs
gold-silver project in mining-friendly Nevada and Utah, U.S.A.
The Company’s Class B shares are listed on the Toronto Stock
Exchange under “TMI.B”. Note that the Class B shares have no
interest in the properties or assets of the Company other than a
collective entitlement to 85% of the net cash after expenses, if
any, received by TMI from award or settlement in relation to the
Company’s subsidiary’s arbitration proceeding against
Bolivia.
Website: TrimetalsMining.com
Qualified Person
The Qualified Person on the Gold Springs Project is Randall
Moore, Executive Vice President of Exploration – North America for
TMI and he has reviewed and approved the content of this news
release. Mr. Moore has more than 40 years of mineral exploration
experience and is a Professional Geologist and Registered Member of
the Society of Mining, Metallurgy, and Exploration.
Forward-Looking Statements
Certain statements contained herein constitute
“forward-looking information” under applicable Canadian securities
laws (“forward-looking statements”). Forward-looking statements
look into the future and provide an opinion as to the effect of
certain events and trends on the business. Forward-looking
statements may include words such as “continue”, “target”,
“indicates”, “strengthening”, “process”, “will” and similar
expressions. The statements regarding the existence of prospective
gold mineralization in Central Jumbo and the belief that resource
mineralization through North Jumbo to South Jumbo may be connected
and also extended to the north and south, as well as
interpretations of exploration results, including the strength of
mineralization, are also forward-looking statements. These forward-
looking statements are based on current expectations and entail
various risks and uncertainties. Actual results may materially
differ from expectations if known and unknown risks or
uncertainties affect our business or if our estimates or
assumptions prove inaccurate. Factors that could cause results or
events to differ materially from current expectations expressed or
implied by the forward-looking statements, include, but are
not limited to, risks of the mineral exploration industry
which may affect the advancement of the Gold Springs project,
including possible variations in mineral resources, grade, recovery
rates, metal prices, capital and operating costs, and the
application of taxes; availability of sufficient financing to fund
planned or further required work in a timely manner and on
acceptable terms; availability of equipment and qualified
personnel, failure of equipment or processes to operate as
anticipated, changes in project parameters, including water
requirements for operations, as plans continue to be refined;
regulatory, environmental and other risks of the mining industry
more fully described in the Company’s Annual Information Form and
continuous disclosure documents, which are available on SEDAR
at www.sedar.com. The assumptions made in developing
the forward-looking statements include: the accuracy of current
resource estimates and the interpretation of drill, metallurgical
testing and other exploration results; the continuing support for
mining by local governments in Nevada and Utah; the availability of
equipment and qualified personnel to advance the Gold Springs
project; execution of the Company’s existing plans and further
exploration and development programs for Gold Springs, which may
change due to changes in the views of the Company or if new
information arises which makes it prudent to change such plans or
programs.
Readers are cautioned not to place undue
reliance on the forward-looking statements contained in this press
release. Except as required by law, TMI assumes no obligation to
update or revise any forward-looking statement, whether as a result
of new information, future events or any other reason. Unless
otherwise indicated, forward-looking statements in this press
release describe the Company’s expectations as of the date
hereof.
TMI Contact:
Eric Edwards President & CEO 303.584.0606
eedwards@trimetalsmining.com
Appendix
Figure 1: SRK Preliminary Structural Targeting at Central Jumbo
within the Jumbo Trend at the Gold Springs Project in Utah.
Potential drill target areas are marked in blue with priority
recommendations labelled.
http://www.globenewswire.com/NewsRoom/AttachmentNg/b41c2882-ccd8-4e65-9894-6379b7da41c2
Figure 2: Location maps of the Jumbo Trend area and mineralized
zones with (A) Lidar map background and (B) ZTEM inversion
resistivity map of offset -463. North Jumbo is in the area marked,
“Jumbo,” South Jumbo is in the area marked, “Etna” and Central
Jumbo is in the area marked, “State Section.”
http://www.globenewswire.com/NewsRoom/AttachmentNg/e93e28d3-0232-4f2a-a7ff-5f573fee6dbf
Figure 3: Inclined view of the North Jumbo and South Jumbo
zones looking ENE with plunge 63°.10T. Modelled gold veins are in
red, and the andesite-lithic tuff fault contact is in green.
http://www.globenewswire.com/NewsRoom/AttachmentNg/7fd807fe-87d5-4220-af69-c725f3eecf3b