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Treasury Metals Inc. (TSX: TML) announces the appointment of Orin Baranowsky as Chief Financial Officer, effective April 1, 2021. He takes over from Dennis Gibson, who is retiring but will assist in the transition. Baranowsky brings over 20 years of finance experience, having previously served as CFO for Blue Thunder Mining and Stornoway Diamond Corporation, where he helped raise over $1 billion for a diamond mine. The company granted him 300,000 stock options at $0.95 each. Treasury aims to advance its Goliath Gold Complex operations under Baranowsky's leadership.
Treasury Metals Inc. (TSX: TML, OTCQX: TSRMF) has announced a significant increase in its consolidated drilling program at the Goliath Gold Complex, boosting the total to 60,000 metres. This initiative follows a $17.6 million financing and the recent filing of the 2021 preliminary economic assessment. The dual-pronged strategy aims to convert existing resources and expand the total resource inventory, with a resource update expected by year-end. Drilling will focus on the Goliath, Goldlund, and Miller deposits, with enhancements in exploration activities planned for the summer.
Treasury Metals Inc. (TSRMF) has announced the completion of the first phase of a drilling campaign at its Goldlund Project, with approximately 6,000 meters drilled across 36 holes. Significant results include drill hole GL-21-005 yielding 20.1 meters at 1.34 g/t Au. The results exceeded planned open-pit mining cutoff grades, affirming resource continuity. Following a $17.6 million financing, the company will analyze these results to guide future drilling, including a planned 2,500 meters at the nearby Miller Project.
Treasury Metals Inc. (TSX: TML, OTCQX: TSRMF) announced significant drilling results from 12 additional holes at the Goldlund Gold Deposit. Drill Hole GL-20-043 returned 15.0 m at 7.15 g/t gold, including 1.0 m at 83.7 g/t gold, enhancing the continuity of Zones 2 and 3. Hole GL-20-049 intersected 9.5 m at 5.15 g/t gold, including 1.0 m at 19.90 g/t. These results support the potential for expanding resources ahead of a pre-feasibility study. The ongoing 10,000 metre drill program aims to confirm high-grade mineralization continuity and extend the planned open pits.
Treasury Metals Inc. has released a preliminary economic assessment (PEA) for the Goliath Gold Complex, indicating strong project viability. The PEA estimates a pre-tax NPV of $477 million and an IRR of 37.3% based on a gold price of US$1600 per ounce, with a mine life of 13 years. Initial capital costs are $233 million with a payback period of under 2 years. Average annual gold production is projected at 102,000 ounces for the first nine years. The company plans to advance to the pre-feasibility study stage, enhancing local stakeholder engagement.
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