Treasury Metals makes new gold discovery at Goldcliff Project, Ontario
Tuesday, Nov 27, 2012
TORONTO, Nov. 26, 2012 /CNW/ - Treasury Metals Inc. is pleased to report a new high grade intersection made in the third drill hole of an initial 9 hole drilling program at the Company's 100% owned Goldcliff Project, located approximately 40 kilometres south of its flagship Goliath Gold Project and near the City of Dryden in Northwestern Ontario.
This is the Company's first drilling program at the Goldcliff Property and the program was designed to test three prospective areas known as the Goldcliff, Ange and Sulphide zones. The Discovery hole GC 12-03 was the second hole drilled at the Ange zone and has a best weighted average intercept of 4 metres at 332 g/t gold. The Company anticipates results over the next few weeks for the remaining 6 holes that have been drilled in other prospective areas at the Ange and Sulphides zones.
The most significant results were reported in drill hole GC 12-03 which
intercepted coarse gold associated with the mineral galena in a narrow quartz veinlet that is hosted within a siliceous felsic rock at the contact it makes with a brecciated basalt. Coarse gold was visible in the drill core.
The Goldcliff Project lies adjacent to a distinct NE-SW shear zone that also hosts the historic producers of the Gold Rock mining camp and is contiguous to Manitou Gold's Kenwest property and is within the Eagle-Wabigoon-Manitou Lakes greenstone belt located in the Superior Province of the Canadian Shield.
SOURCE Treasury Metals Inc.