TORONTO, Sept. 4, 2019
TORONTO, Sept. 4, 2019 /CNW/ - Treasury Metals Inc. (TSX: TML) ("Treasury" or the "Company") is pleased to announce exploration results, including 0.75 metres of 450 g/t Au and 1.40 metres of 11.85 g/t Au in two holes, by earn-in option partner G2 Goldfields Inc. on the Company's 100%-owned Weebigee-Sandy Lake gold project in northwestern Ontario.
Further details of the earn-in and joint venture agreement between Goldeye Explorations Ltd., Treasury's wholly owned subsidiary, and G2 Goldfields Inc. ("G2" or the "Optionee") can be found on Treasury's website at: Goldeye Explorations Ltd. Weebigee is part of the package of high-quality Ontario assets acquired by Treasury in 2016 in connection with the acquisition of Goldeye Explorations Ltd., which also includes the Shining Tree-Fawcett and Gold Rock projects in Ontario.
All holes reported in the press release by G2 were drilled on the Weebigee Main block zone which is subject to the earn-in agreement, effective since April 2015. The Weebigee-Sandy Lake gold project is located 227 kilometres north of Red Lake in Northwestern Ontario.
G2 Goldfields reported in a press release yesterday that a new high-grade, near surface zone was discovered at the Sandy Lake project. The new discovery is located approximately 1.8 km west of the W1/W2 Zones discovered by Goldeye.
The W3 Zone was initially tested by seven drill holes of which the Optionee has received assay results for six holes, three of which intersected significant gold mineralization.
Widths are drill indicated core lengths, as insufficient drilling has been undertaken to determine true widths at this time.