Exploration will assess the critical minerals potential associated with the deposit-bearing
The program will also investigate other critical minerals occurrences hosting nickel ('Ni') and zinc ('Zn'), which have been identified in previous exploration activities carried out by the Company.
The objective of the exploration program is to develop a deeper understanding of the overall critical minerals potential at Golden Rose, supplementing the heightened prospectivity of Golden Rose for gold. The program will include prospecting, grab (rock) sampling, reconnaissance soil sampling and trenching over interpreted critical minerals anomalies determined through previous work by the Company, historical data compilation, and recently acquired high resolution satellite and remote sensing data over the entire property. Many of the planned target areas have had limited exploration to date.
The 2021, 2022 and 2023 exploration seasons identified Cu and other critical minerals anomalies at numerous locations including: Jacob's Pond, where numerous soil anomalies occur and grab samples assayed up to 3.42% Cu and 2.76 grams per tonne (g/t) gold ('Au'); Jacob's Twin, where rock samples assayed up to 11.0% Cu, 14.3g/t Au and 368g/t silver ('Ag'), and drill results assayed up to 1.10% Cu, 0.87g/t Au and 46.60g/t Ag over 2.8 metres ('m'); Jacob's West, an area 750 m to 1.2 kilometres ('km') southwest of Jacob's Twin, where abundant Cu and lesser Zn in soil anomalies were identified; Glenn's Prospect, located 2.9 km northeast along the
The 2024 exploration program, which will be fully funded from the Company's treasury, will further delineate and assess these anomalies in addition to identifying new opportunities.
Copper is the world's third-most used metal and is widely used in construction, electronics, transportation, industrial machinery and equipment, and the medical sector. As a critical mineral, Cu is especially in high demand for the growing electric vehicle ('EV') market. Each EV requires two to four times more Cu than a conventional vehicle and the EV charging stations contain Cu as well. Analysts predict that Cu consumption from green energy sectors will grow five-fold by 2030 due to the growing EV market1.
The Company has also scoped a drill program for its gold prospects across Golden Rose and is currently assessing the most advantageous time to undertake the program.
TRU Co-Founder and CEO
The Company will provide further details of the exploration program closer to when the field program commences over the coming weeks.
Other Corporate Updates
The Company recently released its audited financial statements for the year ended
The Company also reports progress on its Normal Course Issuer Bid (the 'NCIB') announced on
About
TRU (TSXV:TRU) is on a mission to build long-term shareholder value through prudent natural resource property development and transactions. TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt on its 100%-owned
TRU is a portfolio company of
Contact:
Tel: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
Forward-Looking Statements
This press release contains certain forward-looking statements, including those relating to exploration and drilling plans at Golden Rose, the adequacy of the Company's financial position, and the relative merits and appeal of Cu and other critical minerals. These statements are based on numerous assumptions regarding Golden Rose, the Company's exploration programs and results, and commodities prices that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Golden Rose; the exploration potential of Golden Rose and the nature and style of mineralization at Golden Rose; risks inherent in mineral exploration activities; volatility in precious metals and base metals prices; volatility in economic conditions and financial markets and those other risks described in the Company's continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
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