Trillium Gold Announces Potential to Expand Quantity and Grade of Gold Mineralization at Newman Todd

Rhea-AI Summary

Trillium Gold Mines Inc. (OTCQB: TGLDF) announces the completion of an exploration block model for its Newman Todd property, enhancing the understanding of high-grade mineralization potential. Recent drilling of 6,087 metres has contributed to a total of 51,046 metres across 136 drillholes, indicating a likelihood of significantly more ounces than previously estimated. The company emphasizes the need for further drilling to validate the mineral resource. CEO Russell Starr anticipates a more robust resource update in the future.

Positive

• Completion of an exploration block model enhancing mineralization potential.
• Recent drilling totaled 6,087 metres, adding to 51,046 metres previously drilled.
• Potential for significantly more ounces based on updated modeling.

Negative

• Further exploration drilling is required to confirm and upgrade mineral resources.
• Previous drilling may have missed high-grade mineralization due to targeting issues.

VANCOUVER, BC, March 2, 2021 /PRNewswire/ - Trillium Gold Mines Inc. (TSXV: TGM) (OTCQB: TGLDF) (FRA: 0702) ("Trillium Gold" or the "Company") announces that it has compiled an exploration block model utilizing additional drilling completed up to early 2021, that will be used to guide future drilling at its 100%-owned Newman Todd property. This updated model presents potential to consolidate and extend the known high-grade mineralization of the Newman Todd Zone (NT Zone), as well as expand the quantity and grade while also increasing the surrounding halo of lower grade ounces. Drilling continues at the Newman Todd property with the aim of increasing the known extents of the mineralization and fill in untested areas on the NT Zone.

The mineralization modeling and exploration block model have considerably enhanced the understanding of the structural controls and potential of the NT Zone which has been characterized as a chaotic massive breccia and will result in a larger resource once updated. 

Trillium Gold believes that with the recent exploration drilling of 6,087 metres in 16 drillholes  (total drilling used in this update is 51,046 metres in 136 drillholes), guided by updated structural and mineralization models, the NT Zone has the potential to contain significantly more ounces than that reported in Confederation Minerals Ltd., Technical Report for PEA, Newman Todd Project dated January 13, 2015, available on www.sedar.com under Trillium Gold Mines Inc. More exploration drilling to test and confirm structural and veining models is required to be in a position to further upgrade the mineral resource.

An exploration block model was estimated but confined to the NT Zone breccia only. There have been significant intersections elsewhere on the property, outside the NT Zone and other untested exploration targets that are not included. Further exploration work is required to validate and properly test these exploration models.

Drilling from 2013 and earlier had mostly focused on testing the NT Zone by targeting from the footwall with drilling toward the southeast, now known to be sub-parallel to gold mineralized veining and structures, potentially missing high-grade intersections or undercutting much of the targeted mineralization. Nearly all drilling has been conducted to depths of less than 400 metres.

Russell Starr, CEO of Trillium Gold commented, "Both the mineralization modeling and subsequent exploration block model have been immensely beneficial in understanding what the potential of the NT Zone is and highlights those areas where we can and will seek to upgrade and expand on. A lot of care and thought went into this work to make better sense of what appears to be a chaotic nature of the gold mineralization. Investors should expect a much more robust resource in the near future."

The Red Lake Camp is famously known for high-grade gold mineralization at depth with Evolution Mining's Red Lake Gold Mine currently reaching depths of several thousand feet. Trillium Gold will continue to test various drill orientations in order to develop a comprehensive understanding of the mineralization and its structural controls and test the depth potential of the NT Zone. Figure 4 below shows the location of the Newman Todd Project as well as its relative location to the nearby past producing mines within the Red Lake Camp.

Trillium Gold has a robust quality control and quality assurance program where analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream.

The technical information presented in this news release has been reviewed and approved by William Paterson QP, PGeo, VP of Exploration of Trillium Gold Mines, as defined by NI 43-101.

Visit our website at www.trilliumgold.com.  

On behalf of the Board of Directors,

Trillium Gold Mines Inc.

"Russell Starr"

Russell Starr

President, CEO and Director

About Trillium Gold Mines Inc. 
Trillium Gold Mines Inc. is a growth focused British Columbia based company engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake Mining District of Northern Ontario. The Company recently extended its holdings in the Confederation Lake and Birch-Uchi greenstone belts, as well as in highly prospective properties in Larder Lake, Ontario and the Matagami and Chibougamou areas of Quebec.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE Trillium Gold Mines Inc.

FAQ

What recent exploration updates has Trillium Gold (TGLDF) announced?

Trillium Gold has announced the completion of an exploration block model for the Newman Todd property, indicating potential for increased gold mineralization.

How much drilling has been completed at the Newman Todd property by Trillium Gold (TGLDF)?

Trillium Gold has completed 6,087 metres of recent drilling, contributing to a total of 51,046 metres across 136 drillholes.

What does Trillium Gold (TGLDF) expect from future drilling at the Newman Todd site?

Trillium Gold expects that further drilling will validate and potentially increase the quantity and grade of mineral resources at the Newman Todd property.

What challenges did previous drilling face at Trillium Gold's (TGLDF) Newman Todd property?

Previous drilling may have missed high-grade mineralization due to targeting issues, as it primarily focused on sub-parallel drilling.