Thursday, 21 July 2011

Treasury Metals continues to intersect high-grade gold at Goliath

Treasury Metals (TSE:TML) announced Wednesday it continues to intersect high-grade gold resources at its Goliath gold project in northwestern Ontario.
The company is drilling two targets on the Main zone, located one kilometre along strike from one another. The Eastern target, which remains the company's focus,  found 8.7 g/t gold over 4.1 metres in hole TL11-180, where visible gold was observed.
This target area, which is located near the eastern boundary of the resource, remains open at depth.
Diamond drilling also recently began at the high-grade zone to define mineralization at the Western target, which intersected 18.5 g/t gold over 0.6 metres in hole TL11-176.
Other highlights from the program include 3.6 metres grading 3.0 g/t gold in hole TL11-184, 2.8 metres grading 8.4 g/t gold in hole TL11-179, and in hole TL11-178, 5.3 metres grading 2.2 g/t gold, including 2.5 metres grading 3.2 g/t gold.
Due to the encouraging results the company has been receiving, Treasury opted to expand the current 30,000 metre drill program to 40,000 metres.
Last month, the company said that it received stellar gold recovery rates from its metallurgical test program on the project, of between 96% to 97%. The company now plans on expanding its metallurgical program to include drilled holes in the eastern high grade zone.

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