VANCOUVER, BC, Feb. 9, 2021 /CNW/ – Trillium Gold Mines Inc. (TSXV: TGM) (OTCQB: TGLDF) (FRA: 0702) (“Trillium Gold” or the “Company”) is pleased to announce that it has received a drill permit for the Gold Centre property, located immediately adjacent to, and along strike of Evolution Mining’s Campbell-Red Lake Mine (“Red Lake Operations”).
The announcement of the agreement to acquire an 80% interest in the Gold Centre property announced earlier in August 2020 has ideally positioned Trillium Gold in the heart of the highest-grade gold camp in North America which has produced more than 29.5 million ounces of gold at an average grade of more than 0.5 ounce of gold (or more than 15 grams per tonne of gold) over the past 91 years. Trillium Gold has planned a combination of new holes to target the shallower sulphide-style mineralization, similar to that of the Far East Zone at the Red Lake Operations, as well as deeper drilling holes designed to target both high grade and sulphide mineralization. Closing of the acquisition is expected to occur this month.
Previous drilling at Gold Centre by Rupert Resources intersected Balmer volcanic rocks; favorable Balmer mafic metavolcanics hosting several gold deposits at the adjacent Red Lake Operations were identified in drill core and on surface following 2013 geological mapping and drill programs.
The discovery of the Far East Zone by Goldcorp provided further support that the southeast plunging Red Lake trend potentially extends through the Gold Centre property at depth. Underground infrastructure at the adjacent Red Lake Operations comes to within 350 metres of the Gold Centre property boundary.
Bill Paterson, Head of Exploration for Trillium Gold added, “With favourable Balmer volcanics having been intersected at depth on the Gold Centre property, similar to the adjacent two mines that have produced more than 24 million ounces at an average grade of 15 g/t Au to date, the potential for extensions of both high grade and sulphide mineralization makes Gold Centre a high priority target.”
Russell Starr, CEO of Trillium Gold commented, “You could say that this drill program represents a once in a lifetime opportunity. We have an underexplored property located just 350 metres away from one of the biggest gold orebodies, not just in Canada but the world. The Gold Centre property exhibits the pedigree to become a world-class asset and generate substantial value to Trillium Gold’s market capitalization and shareholder base. Few companies have the catalysts in place to reward shareholders; current drilling at Newman Todd located 18 km from Evolution Mining’s milling operations, and the contiguous high grade veins that appear to be structurally connecting our Rivard property to the Newman Todd, and now the ability to drill the continuation of a world-class mine.”
Following the geophysical IP survey in 2013, nine anomalous trends have been interpreted on the Gold Centre property, three of which are identified on the North Grid as being strong to very strong. Two are indicative of a sulphide mineralization source potentially associated with complexly folded/faulted contact between the Huston conglomerate and Balmer mafic metavolcanic rocks. An additional similarly anomalous trend has been identified on the South Grid.
The technical information presented in this news release has been reviewed and approved by William Paterson, P.Geo, Vice President of Exploration of Trillium Gold Mines and Qualified Person¸as defined by NI 43-101.
Visit our website at www.trilliumgold.com.
On behalf of the Board of Directors,
Trillium Gold Mines Inc.
President, CEO and Director
About Trillium Gold Mines Inc.
Trillium Gold Mines Inc. is a growth focused British Columbia based company engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake Mining District of Northern Ontario. The Company recently extended its holdings in the Confederation Lake and Birch-Uchi greenstone belts, as well as in highly prospective properties in Larder Lake, Ontario and the Matagami and Chibougamou areas of Quebec.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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