Trillium Gold Receives Gold Centre Drill Permit and Plans to Test Continuity with Campbell-Red Lake Mine
Trillium Gold Mines Inc. (TGLDF) has received a drill permit for its Gold Centre property, strategically located near Evolution Mining's Campbell-Red Lake Mine. This follows the acquisition of 80% interest in the property, which boasts a rich gold history with over 29.5 million ounces produced. The drill program aims to explore both shallow sulphide-style and deeper high-grade mineralization. CEO Russell Starr emphasized the property's potential, calling it a "once in a lifetime opportunity" for substantial shareholder value. The acquisition's closure is anticipated this month.
- Received drilling permit for Gold Centre property, enhancing exploration opportunities.
- Gold Centre is near a top gold-producing area, historically yielding over 29.5 million ounces.
- Planned drilling focuses on high-grade and sulphide mineralization, potentially increasing resource value.
- Acquisition of 80% interest strengthens company position in a high-potential mining district.
- None.
VANCOUVER, BC, Feb. 9, 2021 /PRNewswire/ - Trillium Gold Mines Inc. (TSXV: TGM) (OTCQB: TGLDF) (FRA: 0702) ("Trillium Gold" or the "Company") is pleased to announce that it has received a drill permit for the Gold Centre property, located immediately adjacent to, and along strike of Evolution Mining's Campbell-Red Lake Mine ("Red Lake Operations").
The announcement of the agreement to acquire an
Previous drilling at Gold Centre by Rupert Resources intersected Balmer volcanic rocks; favorable Balmer mafic metavolcanics hosting several gold deposits at the adjacent Red Lake Operations were identified in drill core and on surface following 2013 geological mapping and drill programs.
The discovery of the Far East Zone by Goldcorp provided further support that the southeast plunging Red Lake trend potentially extends through the Gold Centre property at depth. Underground infrastructure at the adjacent Red Lake Operations comes to within 350 metres of the Gold Centre property boundary.
Bill Paterson, Head of Exploration for Trillium Gold added, "With favourable Balmer volcanics having been intersected at depth on the Gold Centre property, similar to the adjacent two mines that have produced more than 24 million ounces at an average grade of 15 g/t Au to date, the potential for extensions of both high grade and sulphide mineralization makes Gold Centre a high priority target."
Russell Starr, CEO of Trillium Gold commented, "You could say that this drill program represents a once in a lifetime opportunity. We have an underexplored property located just 350 metres away from one of the biggest gold orebodies, not just in Canada but the world. The Gold Centre property exhibits the pedigree to become a world-class asset and generate substantial value to Trillium Gold's market capitalization and shareholder base. Few companies have the catalysts in place to reward shareholders; current drilling at Newman Todd located 18 km from Evolution Mining's milling operations, and the contiguous high grade veins that appear to be structurally connecting our Rivard property to the Newman Todd, and now the ability to drill the continuation of a world-class mine."
Following the geophysical IP survey in 2013, nine anomalous trends have been interpreted on the Gold Centre property, three of which are identified on the North Grid as being strong to very strong. Two are indicative of a sulphide mineralization source potentially associated with complexly folded/faulted contact between the Huston conglomerate and Balmer mafic metavolcanic rocks. An additional similarly anomalous trend has been identified on the South Grid.
The technical information presented in this news release has been reviewed and approved by William Paterson, P.Geo, Vice President of Exploration of Trillium Gold Mines and Qualified Person¸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
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 the 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
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