Treasury Metals Inc.

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Treasury Metals Inc. is a gold-focused company with assets in Canada. Our flagship asset, Goliath Gold Project, is located in northwestern Ontario. Treasury Metals plans on the initial development of an open pit gold mine with subsequent underground operations.

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Treasury Metals Inc.

lockPrivateGroup

Treasury Metals Inc. is a gold-focused company with assets in Canada. Our flagship asset, Goliath Gold Project, is lo......

people8 Members       (0)

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8020 Admin

14 hours ago

8020 Admin posted a press release Platinex Inc. and Treasury Metals Inc. to Consolidate Adjoining Projects to Advance Shining Tree Gold Property, Ontario in TREASURY METALS INC.


TORONTO, March 11, 2020 /CNW/ - Treasury Metals Inc. (TSX: TML) and Platinex Inc. (CSE: PTX) ("Platinex") have entered into a non-binding heads of agreement between the two companies (the "Transaction") to create the largest combined gold focused property package in the Shining Tree District, in northern Ontario. The highlights of the agreement are, namely:



  • Treasury will transfer a 100% interest in its 280 claim unit 5,045 Ha. (12,466 ac.) Shining Tree Fawcett East property (the "Shining Tree East Property") to Platinex, to create the largest combined gold focused property package in the Shining Tree District, in northern Ontario (the "Shining Tree Property"). The Shining Tree Property is located on 21 kilometres of the Tyrrell-Ridout Deformation Zone which also hosts both IAMGOLD's Côté Lake gold deposit and Pan American's Juby deposit;



  • Treasury will transfer to Platinex royalties comprising four Ontario and Chile based exploration projects covering gold, PGM's and base metal opportunities (the "Royalties") to enhance Platinex's existing royalty portfolio;



  • In consideration for acquiring the Shining Tree East Property and the Royalties, Platinex will issue to Treasury 12,500,000 common shares ("Consideration Shares") of Platinex and 5,000,000 non-transferable common share purchase warrants ("Consideration Warrants") of Platinex.  Each Consideration Warrant will be exercisable at a price of $0.05 per share for a period of three years from the date of issuance, provided that if the closing price of the common shares of Platinex ("Platinex Shares") is equal to or greater than $0.30 for a period of 20 consecutive trading days, Platinex will have the right to increase the exercise price of the Consideration Warrants by giving a written notice to Treasury that the exercise price shall be increased to $0.15 per share on the date that is 10 days from the date of such notice. In addition, Treasury shall not exercise the Consideration Warrants if such exercise would result in Treasury owning 20% or more of the issued and outstanding Platinex Shares;



  • Treasury will contribute operational efficiencies between the two companies with a view to provide effective management going forward to advance the Shining Tree Property;



  • Treasury will undertake to support Platinex's management for a two-year period in shareholder votes;



  • Platinex will grant Treasury a first right of refusal to participate in further financings of Platinex shares for a period of two years to maintain its percentage interest; and



  •  Treasury will have the right to appoint a nominee to the board of directors of Platinex.


 


Completion of the Transaction is subject to further due diligence and the parties entering into a formal agreement on or before March 31, 2020.


Mr. James R. Trusler, Chairman of Platinex, stated, "It's exciting to have the close working relationship with Treasury Metals. With the addition of the Shining Tree East Property, Platinex's Shining Tree Property holdings will total 19,895 Ha (49,304ac). The expanded property will now adjoin the Pan American property in Tyrrell Township which hosts the 4 million ounce Juby gold deposit and close proximity along east west structures to the Coté Lake gold project. Significant potential for commercial gold deposits has been revealed in past exploration on Platinex's property and management is especially looking forward to examining the underexplored 21 km stretch of the Tyrrell Ridout deformation zone which is the key locus for gold mineralization in Shining Tree and underlies the property. Platinex will seek further consolidation and strategic initiatives within the district."


Mr. Greg Ferron, Treasury Metals Inc.'s CEO, stated that, "The consolidation of the Shining Tree properties provides multiple benefits and efficiencies between the two groups. We are very excited to make use of the Platinex team's significant wealth of knowledge of the area to see them develop our underutilized project in conjunction with theirs. The Transaction makes for a compelling land package in a very prospective exploration camp that is starting to see a great deal of activity."


Qualified Person


Technical information in this press release has been reviewed and approved by Adam Larsen, P. Geo, who is the qualified person under the definitions established by National Instrument 43-101.


To view further details about the Goliath Gold Project, please visit the Company's website at www.treasurymetals.com.


Follow us on Twitter @TreasuryMetals


About Treasury Metals Inc.


Treasury Metals Inc. is a gold focused exploration and development company with assets in Canada and is listed on the Toronto Stock Exchange ("TSX") under the symbol "TML" and on the OTCQX® Best Market under the symbol "TSRMF".


Forward-looking Statements


This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Actual results or developments may differ materially from those in forward-looking statements. Treasury Metals disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.


View original content:http://www.prnewswire.com/news-releases/platinex-inc-and-treasury-metals-inc-to-consolidate-adjoining-projects-to-advance-shining-tree-gold-property-ontario-301021250.html


SOURCE Treasury Metals Inc.


View original content: http://www.newswire.ca/en/releases/archive/March2020/11/c2620.html



Greg Ferron, CEO and Director, T: 1.416.214.4654, greg@treasurymetals.com , Mark Wheeler, Director Projects, Goliath Gold Project, T: 1.416.214.4654, mark@treasurymetals.com 

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8020 Admin

1 day ago

8020 Admin posted a press release Goliath Drilling Intersects High Grade in East Expansion Target and Drills 20.8m of 3.4 g/t Au in Main Zone in TREASURY METALS INC.

TORONTO, March 10, 2020 /CNW/ - Treasury Metals Inc. (TSX: TML) ("Treasury" or the "Company") is pleased to announce the first assay results from its expansion drilling in the Eastern Main Zone and additional assays from the Infill drilling in the Main Zone at the Goliath Gold Project located in northwestern Ontario.


Highlights include:



  • TL20-524 intersected 3.4 g/t over 20.8 m including 9.1 g/t Au over 4.0 m in the Main Zone Infill program. TL20-524 exhibits anticipated results of an extended mineralized zone with high-grade assays.

  • Expansion drill hole TL20-517 intersected 4.6 g/t Au over 4.4 m in the Main Zone and 10.6 g/t Au over 1.0 m in a hanging wall zone

  • Expansion drill hole TL20-512 intersected 3.0 g/t Au over 7.0 m including 5.4 g/t Au over 3.4 m


 


"We are encouraged with these new Main Zone results that further demonstrate the consistency of mineralization across the high-grade shoots in the deposit. This complements the program's success in the developing C Zone East area spanning 200 metres along strike by 150 metres down-dip where drilling is now consistently hitting mineralization in both zones (Main and C Zone) along strike. These drill results along with the Federal Minister's approval of the EA in August positions us well in an improving gold market," stated Greg Ferron, CEO.


Eastern Main Zone Expansion Drilling:


Treasury is pleased to announce the first results of its expansion drill program of the high-grade shoots within the Main Zone. These holes were designed to drill test select targets down-dip, along strike and directly adjacent to the existing high-grade shoots as well as areas identified by recent underground mine scheduling modelling work. These targets have the potential to add ounces adjacent or below the currently defined resources (see image for additional details).


TL20-517, which was targeted to expand the lower eastern portion of the Eastern high-grade shoot within the Main Zone, intersected 4.6 g/t Au over 4.4 m with an additional hanging wall zone that found 10.6 g/t Au over 1.0 m.


TL20-512, located 100 metres up-dip of TL20-517, intersected 3.0 g/t Au over 7.0 m including 5.4 g/t Au over 3.4 m directly adjacent to the East high-grade shoot.  Additionally, TL20-514 found a wide, low grade intersection of 0.6 g/t over 17.7 m within the Main Zone and 8.9 g/t Au over 1.3 m in a hanging wall zone. The results of these holes have shown good continuity of the mining zones.



Figure 1: Goliath Gold Project Main and C Zone expansion areas (CNW Group/Treasury Metals Inc.)



Infill Program:


A portion of the program has been focused on upgrading specific areas of the Main Zone shoots to the "Measured" classification for inclusion as potential estimate ounces for the initial mine life years and for grade control purposes.  Each of the reported holes have shown very good continuity of the mineralized areas with high grade.


TL20-524 intersected 3.4 g/t over 20.8 m including 9.1 g/t Au over 4.0 m in the Main Zone Infill program and is located 30 metres down dip of previously reported TL19-507 which intersected 2.37 g/t Au over 19.0 m including 6.2 g/t Au over 4.0 m (see press release January 13, 2020). TL20-524 exhibits anticipated results of an extended mineralized zone with significant high-grade assays.  This hole shows strong encouragement of the grade across the main area of the potentially mineable resource and adds to the confidence of mining zones for early years in the proposed production schedule.


Read more here: https://quotemedia.com/portal/quote/?qm_symbol=TML%3ACC&qmodStoryID=4952917028100899 

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8020 Admin

7 days ago

8020 Admin posted a press release Goliath Expansion Drilling Intersects High Grade in C Zone East Program in TREASURY METALS INC.

TORONTO, March 5, 2020 /CNW/ - Treasury Metals Inc. (TSX: TML) ("Treasury" or the "Company") is pleased to announce additional assay results from its expansion drilling in the Eastern C Zone and Infill drilling in the Main Zone at the Goliath Gold Project located in northwestern Ontario. The results demonstrate further delineation of the developing new C Zone East shoot approximately 200 metres from the easternmost Main Zone shoot. Drilling to date has intersected 7 holes above 10 g/t in an area now spanning 200 metres along strike by 150 metres down dip (see attached image). 


Exploration Highlights include:



  • C Zone East hole TL20-520 intersected 1.35 g/t over 14.7 m including 6.0 g/t Au over 2.0 m and approximately 15 m further down the hole 65.2 g/t Au over 3.0 m including 193 g/t over 1.0 m

  • TL20-522 intersected 2.26 g/t over 15.0 m including 6.48 g/t over 4.0 m in the Main Zone Measured Infill program

  • TL20-515 intersected 5.4 g/t Au over 4.0 m including 20.9 g/t Au over 1.0 m in the new Main Zone area along strike

  • TL19-513 intersected 2.0 g/t Au over 4.0 m

  • TL20-521 intersected 0.92 g/t Au over 26.0 m including 6.2 g/t Au over 1.0 m and 1.9 g/t Au over 4.0 m in the Main Zone Measured Infill program.


 


Eastern C Zone:


TL20-520 intersected 1.35 g/t over 14.7 m including 6.0 g/t Au over 2.0 m and approximately 15 m further down the hole the high-grade intersection of 65.2 g/t Au over 3.0 m including 193 g/t over 1.0 m from two distinct areas of mineralization both located within the C Zone. The high-grade intersection was associated with strong sericite and silica alteration and the presence of pyrite, sphalerite, galena which is analogous with the other high-grade shoots of the deposit. The highest sample was found within part of a fault zone which cut through the footwall contact of the C Zone. This contrasts to other areas of the deposit and will be investigated further.


The drilling program followed up on previously reported holes TL19-503 (January 2020) with 14.8 g/t Au over 7.0 m including 101.0 g/t over 1.0 m and TL18-494 (August 2018) with 25.2 g/t Au over 4.5 m including 111 g/t over 1.0 m


Holes TL20-513, TL20-515, TL20-518, TL20-520 have low-grade mineralization over long intervals between approximately 13.0 m and 16.0 m, respectively. 


Eastern Main Zone Along Strike:


Drilling continues to hit meaningful gold grades in a newly discovered area of mineralization along strike (see press release January 13, 2020). These intercepts are encountered while targeting the C Zone East and is located approximately 200 metres along strike from the Eastern Main Zone Shoot. The discovery intersection included a series of high-grade lenses (TL19-506: 14.6 g/t Au over 1.0 m, 11.8 g/t over 1.0 m, and 8.13 g/t over 1.0m). 


Additional Results Include:



  • TL19-515 intersected 5.4 g/t Au over 4.0 m including 20.9 g/t Au over 1.0 m

  • TL19-513 intersected 2.0 g/t Au over 4.0 m

  • TL19-511 intersected 1.0 g/t Au over 4.8 m


 


Next Steps:


The Company will be analysing these results along strike in relation to known mineralization within the Main Zone and establish drill targets for later testing.


The Eastern C Zone area has the potential to lead to new resources and increased production profile in the underground because of its close proximity to the Main Zone. The Company is presently reviewing the impact of the mine schedule and will establish additional drill targets.


The Company will report results from the Main Zone expansion drilling designed to extend the main zone shoots as they become available and is approximately 6,000 metres into the 15,000 metre program.  


Figure 1: Plan View, Drill Program Collar Location Map (click to enlarge).



Figure 1: Plan View, Drill Program Collar Location Map. (CNW Group/Treasury Metals Inc.)



Figure 2: Goliath Gold Project C Zone Longitudinal Section of the Developing East C Zone Shoot (click to enlarge). The updated Main Zone Longitudinal Section is available on the website.



Figure 2: Goliath Gold Project C Zone Longitudinal Section of the Developing East C Zone Shoot. The updated Main Zone Longitudinal Section is available on the website. (CNW Group/Treasury Metals Inc.)



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8020 Admin

2 months ago

8020 Admin posted a press release Goliath Exploration Program Intersects 10.1 g/t Au over 4.0 m and 14.8 g/t Au over 7.0 m at Main and C Zones in TREASURY METALS INC.

TORONTO, Jan. 13, 2020 /CNW/ - Treasury Metals Inc. (TSX: TML) ("Treasury" or the "Company") is pleased to announce the assay results from the initial nine holes of its 15,000 metre exploration program, including results from the Eastern C Zone and Main Zone targets at the Company's flagship Goliath Gold Project located in northwestern Ontario.


Highlights include:



  • TL19-505: 7.4 g/t Au over 6.3 m including 10.13 g/t Au over 4.0 m in the Main Zone.

  • The Eastern C Zone exploration target – TL19-503: intersected 14.8 g/t Au over 7.0 m including 101.0 g/t over 1.0 m.

  • TL19-502: 5.2 g/t Au over 7.0 m in the Main Zone.

  • Targeting the Eastern C Zone - TL19-506: 14.6 g/t Au over 1.0 m, 11.8 g/t over 1.0 m, and 8.13 g/t over 1.0m intersecting in a newly discovered lens of high-grade mineralization east of the existing resource area. The C Zone intersected a wide, lower grade halo of gold mineralization (6.8 m @ 1.35 g/t).

  • TL19-507: 6.2 g/t Au over 4.0 m in the Main Zone.

  • TL19-508: 4.1 g/t Au over 5.4 m including 9.7 g/t Au over 2.0 m in the Main Zone.

  • TL19-510: 4.25 g/t Au over 5.0 m in the Main Zone.


 


Treasury's Eastern C Zone infill and expansion drilling program has progressed well with significant intersections encountered to date in the sparsely drilled area to the east of the currently defined resource area. The drilling results show consistent zones of strong alteration and a mineralized envelope with high-grade lenses within it. These results have the potential to lead to further resources for inclusion in future resource estimates and mining studies.


Of note is the newly discovered Main Zone gold intersections in this drilling program to the east of the resource area in holes designed to target the C Zone. The drill holes intersected the Main Zone with meaningful gold grades in an area that had previously not been considered Main Zone targets.  Further investigation of this area will be conducted as the program progresses.


Additional drilling of the Main Zone shows high potential for upgrading of the current Goliath Gold Project's mineral resources.


Two drills remain on site to complete the C Zone infill program and will continue to focus on the Eastern area of the Main Zone. The drills will subsequently move to exploration locations with the intent to test targets identified in the recent downhole IP survey, as well as extend the Main Zone past the boundary of currently defined resources with adjacent extensions.


Figure 1: Plan View, 2019 Drill Program Collar Location Map (click to enlarge).



Figure 1: Plan View, 2019 Drill Program Collar Location Map (CNW Group/Treasury Metals Inc.)



Figure 2: Goliath Gold Project C Zone Longitudinal Section of the Developing Underground Area (click to enlarge). The updated Main Zone Longitudinal Section is available on the website.



Figure 2: Goliath Gold Project C Zone Longitudinal Section of the Developing Underground Area. The updated Main Zone Longitudinal Section is available on the website. (CNW Group/Treasury Metals Inc.)



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8020 Admin

3 months ago

8020 Admin posted a press release Treasury Metals Commences 15,000 m Drilling Campaign at the Goliath Gold Project in TREASURY METALS INC.


TORONTO, Dec. 16, 2019 /CNW/ - Treasury Metals Inc. (TSX: TML) ("Treasury" or the "Company") is pleased to announce that the Company has commenced a 15,000 metre diamond drilling program with two rigs at its flagship Goliath Gold Project located in northwestern Ontario. 


This initial program will focus on a 5,000 metres infill drill campaign targeting the conversion of underground "inferred" resource blocks to the "indicated" category within the C Zone East resource area where several significant gold intersections have been found. The developing high-grade shoot is located approximately 200 metres east of the main resource area and would be directly accessible via proposed mining development infrastructure. This will allow additional resource blocks to be incorporated into a proposed mining plan that will be part of the upcoming Preliminary Feasibility Study


An additional 5,000 metres program will drill test select down-dip targets identified in the recent downhole IP Survey (see press release dated October 24, 2019), areas identified by recent underground mine scheduling modelling work, and further expansion potential of the high-grade Main Zone and C Zone Central ore shoots down dip. These targets have the potential to add ounces below the currently defined resources and give potential for additional mined resources in future mining studies (see image for additional details).


Part of the final 5,000 metres will be dedicated to exploration drilling of on strike extensions across the full Goliath Property. Of particular interest is the northeast fold nose area, results from the soil gas hydrocarbon program and follow-up to holes drilled on the far east of the property, 11 km along strike from the current resource. This drill hole encountered approximately 100 metres (drilled length) of felsic volcanics and portions with gold mineralization similar to those found in the resource area.


A small portion of the program will also be focused on upgrading specific areas of the Main Zone shoots to the "Measured" classification for inclusion as potential estimate ounces for the initial mine life years and for grade control purposes.


Results from the program will start in January 2020.


At the conclusion of the current program, an updated NI 43-101 Resource Estimate that incorporates all of the new drill results will be completed as part of the Preliminary Feasibility Study.



Figure 1: Current proposed mining plan and areas noted in the drill campaign. (CNW Group/Treasury Metals Inc.)



To view further details about the Goliath Gold Project please visit the Company's website at www.treasurymetals.com.


Qualified Persons


Technical information in this press release has been reviewed and approved by Adam Larsen, P. Geo, who is the qualified person under the definitions established by National Instrument 43-101.


Follow us on Twitter @TreasuryMetals


About Treasury Metals Inc.:


Treasury Metals Inc. is a gold focused exploration and development company with assets in Canada and is listed on the Toronto Stock Exchange ("TSX") under the symbol "TML" and on the OTCQX® Best Market under the symbol TSRMF. Treasury Metals Inc.'s 100% owned Goliath Gold Project in northwestern Ontario is slated to become one of Canada's next producing gold mines. With first-rate infrastructure currently in place and gold mineralization extending to surface, Treasury Metals plans on the initial development of an open pit gold mine to feed a 2,500 per day processing plant with subsequent underground operations in the latter years of the mine life. Goldeye Explorations Ltd. is a Canadian subsidiary of Treasury Metals Inc. Goldeye's flagship property is Weebigee, located near Sandy Lake in Northwestern Ontario, and there are two additional properties in Ontario (Gold Rock and Shining Tree-Fawcett).


Forward-looking Statements


This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Actual results or developments may differ materially from those in forward-looking statements. Treasury Metals disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.


SOURCE Treasury Metals Inc.


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2019/16/c3402.html

Greg Ferron, CEO and Director, T: 1.416.214.4654, greg@treasurymetals.com ; Mark Wheeler, Director, Projects, T: 1.416.214.4654, mark@treasurymetals.com 

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Media Relations posted an update in TREASURY METALS INC.

3 months ago

MI3 Technical Note

Treasury Metals Inc. (TML – TSX) $0.29


insert_drive_fileTechnical-Note-December-3-2019.pdf
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8020 Admin

4 months ago

8020 Admin posted a press release Treasury Announces C$2.3 Million Bought Deal Private Placement in TREASURY METALS INC.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO, Nov. 01, 2019 (GLOBE NEWSWIRE) -- Treasury Metals Inc. (“Treasury” or the “Company”) (TSX: TML) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by PI Financial Corp. (collectively, the "Underwriters") including Haywood Securities Ltd., pursuant to which the Underwriters have agreed to purchase, on a "bought deal" private placement basis, 8,100,000 flow-through units (the “Flow-Through Units”) of the Company, at a price per Flow-Through Unit of $0.285 (the “Issue Price”), for gross proceeds of C$2,308,500 (the "Offering"). The Issue Price represents a premium of approximately 14% to the closing price of the Corporation's common shares on the Toronto Stock Exchange on October 31, 2019.


Each Flow-Through Unit shall be comprised of one common share of the Company issued on a flow-through basis (“Flow-Through Share”) and one-half of one common share purchase warrant to be issued on a non-flow-through basis (each whole such warrant, a “Warrant”). Each whole Warrant shall entitle the holder thereof to acquire one common share of Treasury at a price of $0.45 for a period of 24 months following the closing of the Offering, and, at the discretion of the Company, may be subject to acceleration and called prior to the expiry date in the event that the closing price of the Common Shares is $0.75 or more for twenty consecutive trading days. The Flow-Through Shares will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada)).


The Company has also granted the underwriters an option to purchase up to an additional 1,620,000 Flow-Through Units to cover over-allotments, exercisable in whole or in part at any time prior to the closing date of the Offering. 


The gross proceeds from the sale of the Flow-Through Shares will be used for general exploration expenditures on Treasury’s properties located in Ontario. The exploration program will fund a 10,000-metre infill and expansion drilling program with the initial 5,000-metres focused on the C Zone Resource Area where several significant gold intersections have been found and the additional 5,000-metres will drill test both down dip and along strike targets identified in the downhole IP Survey and recent mine scheduling modelling work (see press release dated October 24, 2019).


The Offering is scheduled to close on or about November 21, 2019, or such other date as agreed between the Company and the underwriters, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the Toronto Stock Exchange.


In connection with the Offering, the underwriters will receive on closing of the Offering: (i) a cash commission of 6.0% of the gross proceeds of the Offering, excluding gross proceeds from the issuance of Flow-Through Units on a president’s list to be agreed upon by the Company and the Underwriters (the “President’s List”) for which a commission of 3.0% of such gross proceeds will be paid by the Company to the Underwriters; and (ii) that number of non-transferable compensation options as is equal to (a) 6.0% of the aggregate number of Flow-Through Units sold under the Offering, excluding those Flow-Through Units sold to subscribers on the President’s List, and (b) 3.0% of the aggregate number of Flow-Through Units sold under the Offering to participants on the President’s List. Each compensation option shall be exercisable into one common share of the Company at a price of $0.285 per common share for a period of 24 months from the closing date of the Offering.


This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.


About Treasury Metals
Treasury Metals Inc. is a gold focused exploration and development company with assets in Canada and is listed on the Toronto Stock Exchange (“TSX”) under the symbol “TML” and on the OTCQX® Best Market under the symbol TSRMF. Treasury Metals Inc.’s 100% owned Goliath Gold Project in northwestern Ontario is slated to become one of Canada’s next producing gold mines. With first-rate infrastructure currently in place and gold mineralization extending to surface, Treasury Metals plans on the initial development of an open pit gold mine to feed a 2,500 tonne per day processing plant with subsequent underground operations in the latter years of the mine life.


For further information please contact:
Greg Ferron
Chief Executive Officer
Treasury Metals: 416-214-4654
greg@treasurymetals.com 


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


Forward-looking statements:


This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the completion of the Offering as described herein are forward-looking statements. Forward-looking statements are generally identifiable by use of the words “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “to earn”, “to have”, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to obtain any necessary regulatory approvals, the termination of any agreement governing the Offering, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company’s annual Management’s Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

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8020 Admin

5 months ago

8020 Admin posted a press release Treasury's Downhole IP Survey Confirms Expansion Potential at Depth, Along Strike and Outlines Future Targets in TREASURY METALS INC.


TORONTO, Oct. 24, 2019 /CNW/ - Treasury Metals Inc. (TSX: TML) is pleased to announce the results of its downhole induced polarization ("IP") survey program on the Company's 100%-owned Goliath Gold Project, located in northwestern Ontario.


The Company's IP survey determined that zones that host mineralization are extending to depth and along strike. The Company completed a total of 15 drill holes with maximum vertical depths ranging from 100 to 525 metres below surface along a strike length of 1.2 kilometres.  Additional focused downhole surveys were completed to increase the resolution of these results.


The IP survey results have been integrated into the current geological database and used to aid the targeting in the upcoming drill program. Upon completion of the Company's active Soil Gas Hydrocarbon sampling program that extends approximately 10 km along strike to the easternmost edge of the property boundary, the Company's winter exploration drilling program will be commenced.


Goliath's Downhole IP Survey


The IP survey confirmed the Project's gold bearing zones correlate with high Resistivity and Chargeability responses.  This is believed to be associated with strong silicification and an increase in disseminated sulphides, both of which are found in the Goliath gold zones.  The inversion model suggests that these zones are located on a major structure and has outlined signatures of the high-grade gold shoots (see Figure 1) including the confirmation of the down-dip extension potential below the current resource to approximately a depth of 800 metres below surface.  The survey also identified the continuation of the Resistivity and Chargeability responses on the east and west sides of the resource area, indicating that the zones which host the gold extend along strike of the deposit in both directions. Golden Mallard Corp. was Treasury's lead consultant on the IP survey. 



Figure 1: Conductivity model plan section at 500m depth with associated resource zones (high resistivity blocks shown in blue). (CNW Group/Treasury Metals Inc.)



A map with the exploration program's drill hole locations is located in Goliath Gold Project's Geology section at www.treasurymetals.com.


Winter Exploration Drill Program


The 5,000-metre infill and expansion drilling program will focus on the C Zone East Resource Area where several significant gold intersections have been found, including hole TL18-494 with 111 g/t Au over 1.00m and TL18-488A with 3.87 g/t Au over 4.70 m (see press release dated August 13, 2018), and drill test select down dip targets identified in the downhole IP Survey.


Regional Soil Sampling Program


A completed 2018 Soil Gas Hydrocarbon orientation survey identified a strong anomaly believed to be caused by gold mineralization over the resource area with a high level of confidence (5.5 out of 6 SGH signature rating). A follow up program commenced with sampling extended to span the entire 10km strike length to the east of the Goliath deposit, as well as a number of other areas of interest including highly prospective areas on the eastern side of the property (Figure 2). Approximately 800 additional samples have been taken to date and will continue to be collected through the seasonal changeover. The results from this program will be utilized to plan future exploration field programs.



Figure 2: SGH Field Sampling Lines - Plan Map (CNW Group/Treasury Metals Inc.)



Engineering and Mine Design Update


With the recent completion of the Federal Environmental Assessment at Goliath, Treasury Metals is advancing engineering to a PFS level with a current focus on:



  • Mining Plus Ltd and RPM Global Canada Ltd, respectively, reviewing underground and open pit mining schedules and costs.

  • The Company has completed sufficient technical support studies to confirm a final throughput for life of mine processing rates. Ausenco Engineering Canada Inc. is designing mill and processing infrastructure for the specified throughput.

  • Tailings storage options and costing has been completed to a PFS level by Knight Peisold with on-going optimization to reduce costs and integrate new environmental green liner.

  • The company continues to investigate the use of battery technology, automation of mining processes and use of biosolids within the mine design for inclusion in upcoming studies.


 


The Company will continue to advance engineering studies and will provide a completion date in the near future.


To view further details about the Goliath Gold Project please visit the Company's website at www.treasurymetals.com.


Qualified Persons


Technical information in this press release has been reviewed and approved by Adam Larsen, P. Geo, who is the qualified person under the definitions established by National Instrument 43-101. All results from the program will be available for viewing in the Complete Assay Table on the Company's website.


Follow us on Twitter @TreasuryMetals


About Treasury Metals Inc.:


Treasury Metals Inc. is a gold focused exploration and development company with assets in Canada and is listed on the Toronto Stock Exchange ("TSX") under the symbol "TML" and on the OTCQX® Best Market under the symbol TSRMF. Treasury Metals Inc.'s 100% owned Goliath Gold Project in northwestern Ontario is slated to become one of Canada's next producing gold mines. With first-rate infrastructure currently in place and gold mineralization extending to surface, Treasury Metals plans on the initial development of an open pit gold mine to feed a 2,500 per day processing plant with subsequent underground operations in the latter years of the mine life.


Forward-looking Statements


This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Actual results or developments may differ materially from those in forward-looking statements. Treasury Metals disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.


View original content to download multimedia:http://www.prnewswire.com/news-releases/treasurys-downhole-ip-survey-confirms-expansion-potential-at-depth-along-strike-and-outlines-future-targets-300944813.html


SOURCE Treasury Metals Inc.


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2019/24/c2585.html



Greg Ferron, CEO and Director, T: 1.416.214.4654, greg@treasurymetals.com; Mark Wheeler, Director, Projects, T: 1.416.214.4654, mark@treasurymetals.com

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Treasury Metals Inc.

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Treasury Metals Inc. is a gold-focused company with assets in Canada. Our flagship asset, Goliath Gold Project, is located in northwestern Ontario. Treasury Metals plans on the initial development of an open pit gold mine with subsequent underground operations.

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Treasury Metals Inc.

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Treasury Metals Inc. is a gold-focused company with assets in Canada. Our flagship asset, Goliath Gold Project, is lo......

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8020 Admin

14 hours ago

8020 Admin posted a press release Platinex Inc. and Treasury Metals Inc. to Consolidate Adjoining Projects to Advance Shining Tree Gold Property, Ontario in TREASURY METALS INC.


TORONTO, March 11, 2020 /CNW/ - Treasury Metals Inc. (TSX: TML) and Platinex Inc. (CSE: PTX) ("Platinex") have entered into a non-binding heads of agreement between the two companies (the "Transaction") to create the largest combined gold focused property package in the Shining Tree District, in northern Ontario. The highlights of the agreement are, namely:



  • Treasury will transfer a 100% interest in its 280 claim unit 5,045 Ha. (12,466 ac.) Shining Tree Fawcett East property (the "Shining Tree East Property") to Platinex, to create the largest combined gold focused property package in the Shining Tree District, in northern Ontario (the "Shining Tree Property"). The Shining Tree Property is located on 21 kilometres of the Tyrrell-Ridout Deformation Zone which also hosts both IAMGOLD's Côté Lake gold deposit and Pan American's Juby deposit;



  • Treasury will transfer to Platinex royalties comprising four Ontario and Chile based exploration projects covering gold, PGM's and base metal opportunities (the "Royalties") to enhance Platinex's existing royalty portfolio;



  • In consideration for acquiring the Shining Tree East Property and the Royalties, Platinex will issue to Treasury 12,500,000 common shares ("Consideration Shares") of Platinex and 5,000,000 non-transferable common share purchase warrants ("Consideration Warrants") of Platinex.  Each Consideration Warrant will be exercisable at a price of $0.05 per share for a period of three years from the date of issuance, provided that if the closing price of the common shares of Platinex ("Platinex Shares") is equal to or greater than $0.30 for a period of 20 consecutive trading days, Platinex will have the right to increase the exercise price of the Consideration Warrants by giving a written notice to Treasury that the exercise price shall be increased to $0.15 per share on the date that is 10 days from the date of such notice. In addition, Treasury shall not exercise the Consideration Warrants if such exercise would result in Treasury owning 20% or more of the issued and outstanding Platinex Shares;



  • Treasury will contribute operational efficiencies between the two companies with a view to provide effective management going forward to advance the Shining Tree Property;



  • Treasury will undertake to support Platinex's management for a two-year period in shareholder votes;



  • Platinex will grant Treasury a first right of refusal to participate in further financings of Platinex shares for a period of two years to maintain its percentage interest; and



  •  Treasury will have the right to appoint a nominee to the board of directors of Platinex.


 


Completion of the Transaction is subject to further due diligence and the parties entering into a formal agreement on or before March 31, 2020.


Mr. James R. Trusler, Chairman of Platinex, stated, "It's exciting to have the close working relationship with Treasury Metals. With the addition of the Shining Tree East Property, Platinex's Shining Tree Property holdings will total 19,895 Ha (49,304ac). The expanded property will now adjoin the Pan American property in Tyrrell Township which hosts the 4 million ounce Juby gold deposit and close proximity along east west structures to the Coté Lake gold project. Significant potential for commercial gold deposits has been revealed in past exploration on Platinex's property and management is especially looking forward to examining the underexplored 21 km stretch of the Tyrrell Ridout deformation zone which is the key locus for gold mineralization in Shining Tree and underlies the property. Platinex will seek further consolidation and strategic initiatives within the district."


Mr. Greg Ferron, Treasury Metals Inc.'s CEO, stated that, "The consolidation of the Shining Tree properties provides multiple benefits and efficiencies between the two groups. We are very excited to make use of the Platinex team's significant wealth of knowledge of the area to see them develop our underutilized project in conjunction with theirs. The Transaction makes for a compelling land package in a very prospective exploration camp that is starting to see a great deal of activity."


Qualified Person


Technical information in this press release has been reviewed and approved by Adam Larsen, P. Geo, who is the qualified person under the definitions established by National Instrument 43-101.


To view further details about the Goliath Gold Project, please visit the Company's website at www.treasurymetals.com.


Follow us on Twitter @TreasuryMetals


About Treasury Metals Inc.


Treasury Metals Inc. is a gold focused exploration and development company with assets in Canada and is listed on the Toronto Stock Exchange ("TSX") under the symbol "TML" and on the OTCQX® Best Market under the symbol "TSRMF".


Forward-looking Statements


This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Actual results or developments may differ materially from those in forward-looking statements. Treasury Metals disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.


View original content:http://www.prnewswire.com/news-releases/platinex-inc-and-treasury-metals-inc-to-consolidate-adjoining-projects-to-advance-shining-tree-gold-property-ontario-301021250.html


SOURCE Treasury Metals Inc.


View original content: http://www.newswire.ca/en/releases/archive/March2020/11/c2620.html



Greg Ferron, CEO and Director, T: 1.416.214.4654, greg@treasurymetals.com , Mark Wheeler, Director Projects, Goliath Gold Project, T: 1.416.214.4654, mark@treasurymetals.com 

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8020 Admin

1 day ago

8020 Admin posted a press release Goliath Drilling Intersects High Grade in East Expansion Target and Drills 20.8m of 3.4 g/t Au in Main Zone in TREASURY METALS INC.

TORONTO, March 10, 2020 /CNW/ - Treasury Metals Inc. (TSX: TML) ("Treasury" or the "Company") is pleased to announce the first assay results from its expansion drilling in the Eastern Main Zone and additional assays from the Infill drilling in the Main Zone at the Goliath Gold Project located in northwestern Ontario.


Highlights include:



  • TL20-524 intersected 3.4 g/t over 20.8 m including 9.1 g/t Au over 4.0 m in the Main Zone Infill program. TL20-524 exhibits anticipated results of an extended mineralized zone with high-grade assays.

  • Expansion drill hole TL20-517 intersected 4.6 g/t Au over 4.4 m in the Main Zone and 10.6 g/t Au over 1.0 m in a hanging wall zone

  • Expansion drill hole TL20-512 intersected 3.0 g/t Au over 7.0 m including 5.4 g/t Au over 3.4 m


 


"We are encouraged with these new Main Zone results that further demonstrate the consistency of mineralization across the high-grade shoots in the deposit. This complements the program's success in the developing C Zone East area spanning 200 metres along strike by 150 metres down-dip where drilling is now consistently hitting mineralization in both zones (Main and C Zone) along strike. These drill results along with the Federal Minister's approval of the EA in August positions us well in an improving gold market," stated Greg Ferron, CEO.


Eastern Main Zone Expansion Drilling:


Treasury is pleased to announce the first results of its expansion drill program of the high-grade shoots within the Main Zone. These holes were designed to drill test select targets down-dip, along strike and directly adjacent to the existing high-grade shoots as well as areas identified by recent underground mine scheduling modelling work. These targets have the potential to add ounces adjacent or below the currently defined resources (see image for additional details).


TL20-517, which was targeted to expand the lower eastern portion of the Eastern high-grade shoot within the Main Zone, intersected 4.6 g/t Au over 4.4 m with an additional hanging wall zone that found 10.6 g/t Au over 1.0 m.


TL20-512, located 100 metres up-dip of TL20-517, intersected 3.0 g/t Au over 7.0 m including 5.4 g/t Au over 3.4 m directly adjacent to the East high-grade shoot.  Additionally, TL20-514 found a wide, low grade intersection of 0.6 g/t over 17.7 m within the Main Zone and 8.9 g/t Au over 1.3 m in a hanging wall zone. The results of these holes have shown good continuity of the mining zones.



Figure 1: Goliath Gold Project Main and C Zone expansion areas (CNW Group/Treasury Metals Inc.)



Infill Program:


A portion of the program has been focused on upgrading specific areas of the Main Zone shoots to the "Measured" classification for inclusion as potential estimate ounces for the initial mine life years and for grade control purposes.  Each of the reported holes have shown very good continuity of the mineralized areas with high grade.


TL20-524 intersected 3.4 g/t over 20.8 m including 9.1 g/t Au over 4.0 m in the Main Zone Infill program and is located 30 metres down dip of previously reported TL19-507 which intersected 2.37 g/t Au over 19.0 m including 6.2 g/t Au over 4.0 m (see press release January 13, 2020). TL20-524 exhibits anticipated results of an extended mineralized zone with significant high-grade assays.  This hole shows strong encouragement of the grade across the main area of the potentially mineable resource and adds to the confidence of mining zones for early years in the proposed production schedule.


Read more here: https://quotemedia.com/portal/quote/?qm_symbol=TML%3ACC&qmodStoryID=4952917028100899 

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8020 Admin

7 days ago

8020 Admin posted a press release Goliath Expansion Drilling Intersects High Grade in C Zone East Program in TREASURY METALS INC.

TORONTO, March 5, 2020 /CNW/ - Treasury Metals Inc. (TSX: TML) ("Treasury" or the "Company") is pleased to announce additional assay results from its expansion drilling in the Eastern C Zone and Infill drilling in the Main Zone at the Goliath Gold Project located in northwestern Ontario. The results demonstrate further delineation of the developing new C Zone East shoot approximately 200 metres from the easternmost Main Zone shoot. Drilling to date has intersected 7 holes above 10 g/t in an area now spanning 200 metres along strike by 150 metres down dip (see attached image). 


Exploration Highlights include:



  • C Zone East hole TL20-520 intersected 1.35 g/t over 14.7 m including 6.0 g/t Au over 2.0 m and approximately 15 m further down the hole 65.2 g/t Au over 3.0 m including 193 g/t over 1.0 m

  • TL20-522 intersected 2.26 g/t over 15.0 m including 6.48 g/t over 4.0 m in the Main Zone Measured Infill program

  • TL20-515 intersected 5.4 g/t Au over 4.0 m including 20.9 g/t Au over 1.0 m in the new Main Zone area along strike

  • TL19-513 intersected 2.0 g/t Au over 4.0 m

  • TL20-521 intersected 0.92 g/t Au over 26.0 m including 6.2 g/t Au over 1.0 m and 1.9 g/t Au over 4.0 m in the Main Zone Measured Infill program.


 


Eastern C Zone:


TL20-520 intersected 1.35 g/t over 14.7 m including 6.0 g/t Au over 2.0 m and approximately 15 m further down the hole the high-grade intersection of 65.2 g/t Au over 3.0 m including 193 g/t over 1.0 m from two distinct areas of mineralization both located within the C Zone. The high-grade intersection was associated with strong sericite and silica alteration and the presence of pyrite, sphalerite, galena which is analogous with the other high-grade shoots of the deposit. The highest sample was found within part of a fault zone which cut through the footwall contact of the C Zone. This contrasts to other areas of the deposit and will be investigated further.


The drilling program followed up on previously reported holes TL19-503 (January 2020) with 14.8 g/t Au over 7.0 m including 101.0 g/t over 1.0 m and TL18-494 (August 2018) with 25.2 g/t Au over 4.5 m including 111 g/t over 1.0 m


Holes TL20-513, TL20-515, TL20-518, TL20-520 have low-grade mineralization over long intervals between approximately 13.0 m and 16.0 m, respectively. 


Eastern Main Zone Along Strike:


Drilling continues to hit meaningful gold grades in a newly discovered area of mineralization along strike (see press release January 13, 2020). These intercepts are encountered while targeting the C Zone East and is located approximately 200 metres along strike from the Eastern Main Zone Shoot. The discovery intersection included a series of high-grade lenses (TL19-506: 14.6 g/t Au over 1.0 m, 11.8 g/t over 1.0 m, and 8.13 g/t over 1.0m). 


Additional Results Include:



  • TL19-515 intersected 5.4 g/t Au over 4.0 m including 20.9 g/t Au over 1.0 m

  • TL19-513 intersected 2.0 g/t Au over 4.0 m

  • TL19-511 intersected 1.0 g/t Au over 4.8 m


 


Next Steps:


The Company will be analysing these results along strike in relation to known mineralization within the Main Zone and establish drill targets for later testing.


The Eastern C Zone area has the potential to lead to new resources and increased production profile in the underground because of its close proximity to the Main Zone. The Company is presently reviewing the impact of the mine schedule and will establish additional drill targets.


The Company will report results from the Main Zone expansion drilling designed to extend the main zone shoots as they become available and is approximately 6,000 metres into the 15,000 metre program.  


Figure 1: Plan View, Drill Program Collar Location Map (click to enlarge).



Figure 1: Plan View, Drill Program Collar Location Map. (CNW Group/Treasury Metals Inc.)



Figure 2: Goliath Gold Project C Zone Longitudinal Section of the Developing East C Zone Shoot (click to enlarge). The updated Main Zone Longitudinal Section is available on the website.



Figure 2: Goliath Gold Project C Zone Longitudinal Section of the Developing East C Zone Shoot. The updated Main Zone Longitudinal Section is available on the website. (CNW Group/Treasury Metals Inc.)



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8020 Admin

2 months ago

8020 Admin posted a press release Goliath Exploration Program Intersects 10.1 g/t Au over 4.0 m and 14.8 g/t Au over 7.0 m at Main and C Zones in TREASURY METALS INC.

TORONTO, Jan. 13, 2020 /CNW/ - Treasury Metals Inc. (TSX: TML) ("Treasury" or the "Company") is pleased to announce the assay results from the initial nine holes of its 15,000 metre exploration program, including results from the Eastern C Zone and Main Zone targets at the Company's flagship Goliath Gold Project located in northwestern Ontario.


Highlights include:



  • TL19-505: 7.4 g/t Au over 6.3 m including 10.13 g/t Au over 4.0 m in the Main Zone.

  • The Eastern C Zone exploration target – TL19-503: intersected 14.8 g/t Au over 7.0 m including 101.0 g/t over 1.0 m.

  • TL19-502: 5.2 g/t Au over 7.0 m in the Main Zone.

  • Targeting the Eastern C Zone - TL19-506: 14.6 g/t Au over 1.0 m, 11.8 g/t over 1.0 m, and 8.13 g/t over 1.0m intersecting in a newly discovered lens of high-grade mineralization east of the existing resource area. The C Zone intersected a wide, lower grade halo of gold mineralization (6.8 m @ 1.35 g/t).

  • TL19-507: 6.2 g/t Au over 4.0 m in the Main Zone.

  • TL19-508: 4.1 g/t Au over 5.4 m including 9.7 g/t Au over 2.0 m in the Main Zone.

  • TL19-510: 4.25 g/t Au over 5.0 m in the Main Zone.


 


Treasury's Eastern C Zone infill and expansion drilling program has progressed well with significant intersections encountered to date in the sparsely drilled area to the east of the currently defined resource area. The drilling results show consistent zones of strong alteration and a mineralized envelope with high-grade lenses within it. These results have the potential to lead to further resources for inclusion in future resource estimates and mining studies.


Of note is the newly discovered Main Zone gold intersections in this drilling program to the east of the resource area in holes designed to target the C Zone. The drill holes intersected the Main Zone with meaningful gold grades in an area that had previously not been considered Main Zone targets.  Further investigation of this area will be conducted as the program progresses.


Additional drilling of the Main Zone shows high potential for upgrading of the current Goliath Gold Project's mineral resources.


Two drills remain on site to complete the C Zone infill program and will continue to focus on the Eastern area of the Main Zone. The drills will subsequently move to exploration locations with the intent to test targets identified in the recent downhole IP survey, as well as extend the Main Zone past the boundary of currently defined resources with adjacent extensions.


Figure 1: Plan View, 2019 Drill Program Collar Location Map (click to enlarge).



Figure 1: Plan View, 2019 Drill Program Collar Location Map (CNW Group/Treasury Metals Inc.)



Figure 2: Goliath Gold Project C Zone Longitudinal Section of the Developing Underground Area (click to enlarge). The updated Main Zone Longitudinal Section is available on the website.



Figure 2: Goliath Gold Project C Zone Longitudinal Section of the Developing Underground Area. The updated Main Zone Longitudinal Section is available on the website. (CNW Group/Treasury Metals Inc.)



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8020 Admin

3 months ago

8020 Admin posted a press release Treasury Metals Commences 15,000 m Drilling Campaign at the Goliath Gold Project in TREASURY METALS INC.


TORONTO, Dec. 16, 2019 /CNW/ - Treasury Metals Inc. (TSX: TML) ("Treasury" or the "Company") is pleased to announce that the Company has commenced a 15,000 metre diamond drilling program with two rigs at its flagship Goliath Gold Project located in northwestern Ontario. 


This initial program will focus on a 5,000 metres infill drill campaign targeting the conversion of underground "inferred" resource blocks to the "indicated" category within the C Zone East resource area where several significant gold intersections have been found. The developing high-grade shoot is located approximately 200 metres east of the main resource area and would be directly accessible via proposed mining development infrastructure. This will allow additional resource blocks to be incorporated into a proposed mining plan that will be part of the upcoming Preliminary Feasibility Study


An additional 5,000 metres program will drill test select down-dip targets identified in the recent downhole IP Survey (see press release dated October 24, 2019), areas identified by recent underground mine scheduling modelling work, and further expansion potential of the high-grade Main Zone and C Zone Central ore shoots down dip. These targets have the potential to add ounces below the currently defined resources and give potential for additional mined resources in future mining studies (see image for additional details).


Part of the final 5,000 metres will be dedicated to exploration drilling of on strike extensions across the full Goliath Property. Of particular interest is the northeast fold nose area, results from the soil gas hydrocarbon program and follow-up to holes drilled on the far east of the property, 11 km along strike from the current resource. This drill hole encountered approximately 100 metres (drilled length) of felsic volcanics and portions with gold mineralization similar to those found in the resource area.


A small portion of the program will also be focused on upgrading specific areas of the Main Zone shoots to the "Measured" classification for inclusion as potential estimate ounces for the initial mine life years and for grade control purposes.


Results from the program will start in January 2020.


At the conclusion of the current program, an updated NI 43-101 Resource Estimate that incorporates all of the new drill results will be completed as part of the Preliminary Feasibility Study.



Figure 1: Current proposed mining plan and areas noted in the drill campaign. (CNW Group/Treasury Metals Inc.)



To view further details about the Goliath Gold Project please visit the Company's website at www.treasurymetals.com.


Qualified Persons


Technical information in this press release has been reviewed and approved by Adam Larsen, P. Geo, who is the qualified person under the definitions established by National Instrument 43-101.


Follow us on Twitter @TreasuryMetals


About Treasury Metals Inc.:


Treasury Metals Inc. is a gold focused exploration and development company with assets in Canada and is listed on the Toronto Stock Exchange ("TSX") under the symbol "TML" and on the OTCQX® Best Market under the symbol TSRMF. Treasury Metals Inc.'s 100% owned Goliath Gold Project in northwestern Ontario is slated to become one of Canada's next producing gold mines. With first-rate infrastructure currently in place and gold mineralization extending to surface, Treasury Metals plans on the initial development of an open pit gold mine to feed a 2,500 per day processing plant with subsequent underground operations in the latter years of the mine life. Goldeye Explorations Ltd. is a Canadian subsidiary of Treasury Metals Inc. Goldeye's flagship property is Weebigee, located near Sandy Lake in Northwestern Ontario, and there are two additional properties in Ontario (Gold Rock and Shining Tree-Fawcett).


Forward-looking Statements


This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Actual results or developments may differ materially from those in forward-looking statements. Treasury Metals disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.


SOURCE Treasury Metals Inc.


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2019/16/c3402.html

Greg Ferron, CEO and Director, T: 1.416.214.4654, greg@treasurymetals.com ; Mark Wheeler, Director, Projects, T: 1.416.214.4654, mark@treasurymetals.com 

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Media Relations posted an update in TREASURY METALS INC.

3 months ago

MI3 Technical Note

Treasury Metals Inc. (TML – TSX) $0.29


insert_drive_fileTechnical-Note-December-3-2019.pdf
Thumb technical note december 3 2019

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8020 Admin

4 months ago

8020 Admin posted a press release Treasury Announces C$2.3 Million Bought Deal Private Placement in TREASURY METALS INC.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO, Nov. 01, 2019 (GLOBE NEWSWIRE) -- Treasury Metals Inc. (“Treasury” or the “Company”) (TSX: TML) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by PI Financial Corp. (collectively, the "Underwriters") including Haywood Securities Ltd., pursuant to which the Underwriters have agreed to purchase, on a "bought deal" private placement basis, 8,100,000 flow-through units (the “Flow-Through Units”) of the Company, at a price per Flow-Through Unit of $0.285 (the “Issue Price”), for gross proceeds of C$2,308,500 (the "Offering"). The Issue Price represents a premium of approximately 14% to the closing price of the Corporation's common shares on the Toronto Stock Exchange on October 31, 2019.


Each Flow-Through Unit shall be comprised of one common share of the Company issued on a flow-through basis (“Flow-Through Share”) and one-half of one common share purchase warrant to be issued on a non-flow-through basis (each whole such warrant, a “Warrant”). Each whole Warrant shall entitle the holder thereof to acquire one common share of Treasury at a price of $0.45 for a period of 24 months following the closing of the Offering, and, at the discretion of the Company, may be subject to acceleration and called prior to the expiry date in the event that the closing price of the Common Shares is $0.75 or more for twenty consecutive trading days. The Flow-Through Shares will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada)).


The Company has also granted the underwriters an option to purchase up to an additional 1,620,000 Flow-Through Units to cover over-allotments, exercisable in whole or in part at any time prior to the closing date of the Offering. 


The gross proceeds from the sale of the Flow-Through Shares will be used for general exploration expenditures on Treasury’s properties located in Ontario. The exploration program will fund a 10,000-metre infill and expansion drilling program with the initial 5,000-metres focused on the C Zone Resource Area where several significant gold intersections have been found and the additional 5,000-metres will drill test both down dip and along strike targets identified in the downhole IP Survey and recent mine scheduling modelling work (see press release dated October 24, 2019).


The Offering is scheduled to close on or about November 21, 2019, or such other date as agreed between the Company and the underwriters, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the Toronto Stock Exchange.


In connection with the Offering, the underwriters will receive on closing of the Offering: (i) a cash commission of 6.0% of the gross proceeds of the Offering, excluding gross proceeds from the issuance of Flow-Through Units on a president’s list to be agreed upon by the Company and the Underwriters (the “President’s List”) for which a commission of 3.0% of such gross proceeds will be paid by the Company to the Underwriters; and (ii) that number of non-transferable compensation options as is equal to (a) 6.0% of the aggregate number of Flow-Through Units sold under the Offering, excluding those Flow-Through Units sold to subscribers on the President’s List, and (b) 3.0% of the aggregate number of Flow-Through Units sold under the Offering to participants on the President’s List. Each compensation option shall be exercisable into one common share of the Company at a price of $0.285 per common share for a period of 24 months from the closing date of the Offering.


This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.


About Treasury Metals
Treasury Metals Inc. is a gold focused exploration and development company with assets in Canada and is listed on the Toronto Stock Exchange (“TSX”) under the symbol “TML” and on the OTCQX® Best Market under the symbol TSRMF. Treasury Metals Inc.’s 100% owned Goliath Gold Project in northwestern Ontario is slated to become one of Canada’s next producing gold mines. With first-rate infrastructure currently in place and gold mineralization extending to surface, Treasury Metals plans on the initial development of an open pit gold mine to feed a 2,500 tonne per day processing plant with subsequent underground operations in the latter years of the mine life.


For further information please contact:
Greg Ferron
Chief Executive Officer
Treasury Metals: 416-214-4654
greg@treasurymetals.com 


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


Forward-looking statements:


This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the completion of the Offering as described herein are forward-looking statements. Forward-looking statements are generally identifiable by use of the words “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “to earn”, “to have”, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to obtain any necessary regulatory approvals, the termination of any agreement governing the Offering, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company’s annual Management’s Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

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8020 Admin

5 months ago

8020 Admin posted a press release Treasury's Downhole IP Survey Confirms Expansion Potential at Depth, Along Strike and Outlines Future Targets in TREASURY METALS INC.


TORONTO, Oct. 24, 2019 /CNW/ - Treasury Metals Inc. (TSX: TML) is pleased to announce the results of its downhole induced polarization ("IP") survey program on the Company's 100%-owned Goliath Gold Project, located in northwestern Ontario.


The Company's IP survey determined that zones that host mineralization are extending to depth and along strike. The Company completed a total of 15 drill holes with maximum vertical depths ranging from 100 to 525 metres below surface along a strike length of 1.2 kilometres.  Additional focused downhole surveys were completed to increase the resolution of these results.


The IP survey results have been integrated into the current geological database and used to aid the targeting in the upcoming drill program. Upon completion of the Company's active Soil Gas Hydrocarbon sampling program that extends approximately 10 km along strike to the easternmost edge of the property boundary, the Company's winter exploration drilling program will be commenced.


Goliath's Downhole IP Survey


The IP survey confirmed the Project's gold bearing zones correlate with high Resistivity and Chargeability responses.  This is believed to be associated with strong silicification and an increase in disseminated sulphides, both of which are found in the Goliath gold zones.  The inversion model suggests that these zones are located on a major structure and has outlined signatures of the high-grade gold shoots (see Figure 1) including the confirmation of the down-dip extension potential below the current resource to approximately a depth of 800 metres below surface.  The survey also identified the continuation of the Resistivity and Chargeability responses on the east and west sides of the resource area, indicating that the zones which host the gold extend along strike of the deposit in both directions. Golden Mallard Corp. was Treasury's lead consultant on the IP survey. 



Figure 1: Conductivity model plan section at 500m depth with associated resource zones (high resistivity blocks shown in blue). (CNW Group/Treasury Metals Inc.)



A map with the exploration program's drill hole locations is located in Goliath Gold Project's Geology section at www.treasurymetals.com.


Winter Exploration Drill Program


The 5,000-metre infill and expansion drilling program will focus on the C Zone East Resource Area where several significant gold intersections have been found, including hole TL18-494 with 111 g/t Au over 1.00m and TL18-488A with 3.87 g/t Au over 4.70 m (see press release dated August 13, 2018), and drill test select down dip targets identified in the downhole IP Survey.


Regional Soil Sampling Program


A completed 2018 Soil Gas Hydrocarbon orientation survey identified a strong anomaly believed to be caused by gold mineralization over the resource area with a high level of confidence (5.5 out of 6 SGH signature rating). A follow up program commenced with sampling extended to span the entire 10km strike length to the east of the Goliath deposit, as well as a number of other areas of interest including highly prospective areas on the eastern side of the property (Figure 2). Approximately 800 additional samples have been taken to date and will continue to be collected through the seasonal changeover. The results from this program will be utilized to plan future exploration field programs.



Figure 2: SGH Field Sampling Lines - Plan Map (CNW Group/Treasury Metals Inc.)



Engineering and Mine Design Update


With the recent completion of the Federal Environmental Assessment at Goliath, Treasury Metals is advancing engineering to a PFS level with a current focus on:



  • Mining Plus Ltd and RPM Global Canada Ltd, respectively, reviewing underground and open pit mining schedules and costs.

  • The Company has completed sufficient technical support studies to confirm a final throughput for life of mine processing rates. Ausenco Engineering Canada Inc. is designing mill and processing infrastructure for the specified throughput.

  • Tailings storage options and costing has been completed to a PFS level by Knight Peisold with on-going optimization to reduce costs and integrate new environmental green liner.

  • The company continues to investigate the use of battery technology, automation of mining processes and use of biosolids within the mine design for inclusion in upcoming studies.


 


The Company will continue to advance engineering studies and will provide a completion date in the near future.


To view further details about the Goliath Gold Project please visit the Company's website at www.treasurymetals.com.


Qualified Persons


Technical information in this press release has been reviewed and approved by Adam Larsen, P. Geo, who is the qualified person under the definitions established by National Instrument 43-101. All results from the program will be available for viewing in the Complete Assay Table on the Company's website.


Follow us on Twitter @TreasuryMetals


About Treasury Metals Inc.:


Treasury Metals Inc. is a gold focused exploration and development company with assets in Canada and is listed on the Toronto Stock Exchange ("TSX") under the symbol "TML" and on the OTCQX® Best Market under the symbol TSRMF. Treasury Metals Inc.'s 100% owned Goliath Gold Project in northwestern Ontario is slated to become one of Canada's next producing gold mines. With first-rate infrastructure currently in place and gold mineralization extending to surface, Treasury Metals plans on the initial development of an open pit gold mine to feed a 2,500 per day processing plant with subsequent underground operations in the latter years of the mine life.


Forward-looking Statements


This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Actual results or developments may differ materially from those in forward-looking statements. Treasury Metals disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.


View original content to download multimedia:http://www.prnewswire.com/news-releases/treasurys-downhole-ip-survey-confirms-expansion-potential-at-depth-along-strike-and-outlines-future-targets-300944813.html


SOURCE Treasury Metals Inc.


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2019/24/c2585.html



Greg Ferron, CEO and Director, T: 1.416.214.4654, greg@treasurymetals.com; Mark Wheeler, Director, Projects, T: 1.416.214.4654, mark@treasurymetals.com

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