Trueclaim Exploration Inc. Hits Multiple High Grade Gold Intercepts on Phase I Scadding Drill Program
Trueclaim Exploration Inc. (TSX.V: TRM) an explorer and developer of precious metals, is pleased to announce the results from its recent Phase I drill program at its Scadding Gold Property near Sudbury, Ontario. John Carter, the President of Trueclaim, summarized the results by noting “this initial phase of drilling produced multiple high grade gold intercepts across significant lengths in holes throughout the five zones” (North, South, Central, East-West, and New – see enclosed map). “As exploration programs go in Canada today we believe these results offer outstanding potential for Scadding” noted Mr. Carter, “particularly given that the areas explored only represent a small portion of the 41,000 acres held by the Company”.
The Phase 1 program consisted of 30 NQ drill holes totalling 3,275 metres spread across all five zones. The four surrounding zones (North, South, New, and East-West), as well as all of the drilling done in Phase I lie within a 400-metre radius of the Central zone. All assays are now complete, and Table I below summarizes the major intercepts from 15 of the holes. As the table indicate, gold assays within the holes ranged from 2 to 100+ grams per tonne over both short and extended intervals. Some of the most significant intercepts occurred in the following eight holes: TRM-09-02; TRM09-03; TRM-09-06; TRM09-13; TRM 10-02; TRM-10-06; TRM-10-07; and TRM-10-10. For example, TRM-10-07 in the North zone produced an average value of 12.9 grams per tonne across more than 19 metres (63 feet) of depth. Interspersed within this length values ran from 25 to 106 grams per tonne. Visible gold was also scattered throughout the length of this hole, as well as in at least four other holes in the program. As Table 1 also notes, assays of significant value were also seen in multiple other targets and intersections. In an additional comment Mr. Carter noted “these intercepts and grades fully justified the Phase I program and have provided the Company with a compelling reason to proceed with our Phase II drill plans”.
The drill program was initiated on Nov. 10, 2009 and was completed in late January 2010. The final assays were provided on Wednesday February 17, 2010. The assay process included a “metallic screen analysis” component on some samples to provide additional information and value that might go otherwise undetected. As noted in the Company’s last press release, the visible gold, high-grade gold intercepts and similar chlorite brecciated alteration suggests that the Scadding mineralization may have some continuity between and across all five zones drilled. Further additional chlorite alteration off the minesite is also probable based on the presence of chlorite float boulders. Aside from the confirmation of gold bearing rock, a number of holes were drilled to identify the location of important faults and contacts rather than to find mineralization. In conducting the overall program, the Company’s project geologist Mr. Bob Komarechka, P.Geo. stated that “the use of Surpac, the three dimensional modelling software acquired by the Company, was instrumental in targeting the mineralized zones we encountered, and provided a high degree of certainty as the drill program was carried out”.
Contained Within This Interval
Hole #2 From To Length Length Gold From To Length Gold
(m) (m) (m) (ft) g/t (m) (m) (m) g/t
TRM-09-02 26.90 37.00 10.10 33.14 3.5 26.9 29.9 3.0 5.3
30.8 35.0 4.2 3.3
TRM-09-02 42.90 43.50 0.60 1.97 3.9
TRM-09-03 79.70 80.40 0.70 2.30 2.5
TRM-09-03 89.00 89.88 0.88 2.89 2.8
TRM-09-03 99.00 101.00 2.00 6.56 3.2 100.0 101.0 1.0 3.7
TRM-09-04 85.55 86.70 1.15 3.77 7.0 86.00 86.70 0.70 8.780
TRM-09-05 89.40 89.90 0.50 1.64 5.5
TRM-09-06 69.12 70.00 0.88 2.89 27.9
TRM-09-07 33.70 35.00 1.30 4.27 2.0
TRM-09-07 46.54 47.45 0.91 2.99 2.1
TRM-09-09 16.00 17.00 1.00 3.28 2.4
TRM-09-10 15.00 16.00 1.00 3.28 1.8
TRM-09-10 22.00 23.00 1.00 3.28 1.8
TRM-09-13 66.00 67.00 1.00 3.28 47.6
TRM-10-01 19.00 20.00 1.00 3.28 2.8
TRM-10-02 30.00 34.00 4.00 13.12 9.6 30.0 31.0 1.0 20.6
TRM-10-06 70.00 72.00 2.00 6.56 22.3 71.0 71.5 0.5 75.4
TRM-10-06 96.00 100.00 4.00 13.12 2.3
10-07(3) 52.35 71.64 19.29 63.29 12.9 56.9 57.4 1.1 25.2
61.8 62.8 1.0 35.0
68.0 69.0 1.0 26.3
71.0 71.6 0.6 106.3
TRM-10-07 95.90 94.40 1.50 4.92 1.1
TRM-10-07 98.00 98.93 0.93 3.05 3.9
TRM-10-07 110.20 112.00 1.80 5.91 25.6
TRM-10-07 147.85 148.04 0.19 0.62 3.9
TRM-10-10 18.00 18.23 0.23 0.75 2.3
TRM-10-10 19.70 20.00 0.30 0.98 1.6
TRM-10-10 41.00 43.66 2.66 8.73 4.5 42.0 43.0 1.0 10.6
TRM-10-10 50.00 59.00 9.00 29.53 2.9 55.0 56.0 1.0 6.3
TRM-10-10 61.00 62.00 1.00 3.28 1.3
TRM-10-11 26.00 27.00 1.00 3.28 1.8
TRM-10-11 47.00 48.00 1.00 3.28 1.3
TRM-10-11 52.77 54.00 1.23 4.04 11.2 52.8 53.4 0.6 21.0
TRM-10-11 70.00 71.00 1.00 3.28 3.2
1) Due to breccia style mineralization, the drill intersections above may not represent true widths. These partial results are preliminary. Results from all the drill holes will be posted on the Company’s website: www.trueclaim.ca.
2) Preliminary assay results for holes TRM-09-02 to TRM-09-06; TRM-09-13; and TRM-10-07were provided in the Company’s last press release. Interval lengths outlined above for the same holes represent new intersections and grades not previously reported.
3) Sample assayed by metallic screens due to visible gold, the rest of the samples were by conventional fire assay.
With the assay results of Phase I now complete, the Company is preparing to launch the Phase II drill program in early summer, 2010. Mr. Komarechka stated “our goals in Phase II will be to explore all of the mineralized zones encountered in Phase I as well as some of the previous underground workings where high grades were recovered (historical non-compliant NI 43-101); confirm zone to zone continuity of mineralization; investigate the potential for the historic mined mineralization to be open at depth; and develop estimates of a compliant resource for the site”. As also noted in the Company’s most recent prior press release, Phase II will proceed in a logical fashion taking into consideration information acquired in the 3D visualizations, weather, drill availability and corporate development plans.
The former Scadding gold mine is located in rocks of Huronian stratigraphy, consisting of the Espanola and Serpent formation with later intrusions of Nipissing Gabbros. The gold mineralization in this environment is frequently associated with a hydrothermal chloritic breccia. The breccia occurs more or less within a strataform horizon within the lower Serpent formation. The gold mineralization occurring in the area suggests an erratic distribution in size with localized areas of potential coarse gold. The chlorite is believed to occur in structurally dilated zones surrounded by brecciation. The age of the gold mineralization suggests an association with the 17 Ma granitic intrusive event. At this time no such intrusives have been noted on the minesite.
Trueclaim has implemented a rigorous quality assurance/quality control program at the Scadding property using best industry practices and supervised by Mr. Komarechka. To ensure data was collected accurately for the 3D model, each hole was surveyed by a Reflex EZ-Shot borehole survey tool. After drilling, the drill collar locations were tied-in by surveying to the area’s general map plan survey fabric as located by Global Surveying Services. The program also includes a chain of custody of samples from drill to laboratory. Drill core is sawed in half at the property and for each sample half of the core from 0.5 to 1.5 metre length intervals is placed in plastic bags with its labeled water resistant tag and sealed. Standard samples of a similar style gold ore of various grades supplied by an outside independent laboratory or blank samples are inserted into the sample stream every tenth sample. Samples, including the blind blanks and standards, are personally delivered by Trueclaim geologists to AGAT Laboratories prep. Lab in Sudbury, where signed documentation of their receipt is obtained.
The samples are then shipped by courier for analysis to AGAT Laboratories in Mississauga Ontario. AGAT Laboratories is an accredited Laboratory meeting international standards ISO 9001:2000 with certification No. CERT-0032482 and the Canadian Association for Laboratory Accreditation Inc. Standard ISO/IFC170252005 accreditation No. A3200. Duplicate samples and gold metallics were undertaken over selected zones of interest, in some cases by several different labs. Further quality assurance and quality control is being undertaken by third party consultants CCIC Caracle Creek International Consultants.
Samples with visible gold are analyzed using a metallic screen analysis where the ground up sample is screened on a fine mesh with the retained and passed fractions weighed and each analyzed separately. A report is then prepared indicating the weight of each fraction and the final assay determined from the weighted average of the two fractions. This process collects the coarse gold fraction that may have otherwise become flattened during grinding and tossed out with the oversized material. Analysis of samples by AGAT were done by fire assay followed by an ICP-MS finish. Each sample was also assayed using a 49 multi-element analysis to derive information on rock geochemistry alteration in the areas of mineralization.
Phase I Drill Target Map and Past Workings
The map below outlines the location of the 30 NQ drill holes completed during the Phase I program; and the location of past workings on the former Scadding gold mine.
Plan of Trueclaim Phase I Drill Program as of Feb. 17, 2010 Scadding Township – http://file.marketwire.com/release/trm_map.pdf
In closing, John Carter, President of Trueclaim, commented, “We are extremely pleased with the results from this preliminary program. Phase 1 was initiated to prove that historical non NI43-101 compliant gold resources existed in several areas of the property. This has been accomplished and now we look forward to evaluating these and surrounding areas further in a Phase II program. Also key to the success of this program was the efficient drilling undertaken by Mallette Drilling; the expeditious assaying undertaken by AGAT Laboratories; and the relentless efforts of the Trueclaim team. We would also like to invite everyone to visit us at the PDAC 2010 Core Shack Display at booth #5007B and our main floor booth 2618, Session B to observe our 3D model in action and view our core with visible gold”.
We seek Safe Harbour.
TRUECLAIM EXPLORATION INC.
John Carter, President
About Trueclaim Exploration Inc.
Trueclaim Exploration Inc. (TSX VENTURE:TRM) is an explorer and developer of precious metals projects with significant potential for near-term production and growth. Our projects are located in Canada, one of the most active and stable mining regions in the world. Our team is committed to unlocking mineral wealth for our shareholders by discovering, developing, and permitting precious metals assets to production. The Company’s Scadding project consisting of approximately 41,000 acres represents one of the largest land packages in Northern Ontario. For additional information, please visit us at www.trueclaim.ca.
Technical information in this news release has been reviewed by Mr. Bob Komarechka, P. Geo., acting as a consulting Project Geologist for the Company, and prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101. Company Management, which takes full responsibility for content, prepared this news release. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company’s future exploration and financing plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in these statements. Such risks include expectations that may be raised by discussing potential mine types and by comparing the Company’s projects to other projects. Also, in order to proceed with the Company’s exploration and acquisition plans, additional funding is necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate the Company’s plans.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined on the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Trueclaim Exploration Inc.