Trius Expands Newfoundland Exploration Package
FREDERICTON, New Brunswick, Sept. 24, 2020 (GLOBE NEWSWIRE) -- Trius Investments Inc. (TSXV: TRU) (“Trius” or the “Company”) is pleased to announce that its wholly-owned subsidiary (the
“Subsidiary”) has entered into a mineral property acquisition agreement (the “Purchase Agreement”) with five arm’s length individual vendors (collectively, the “Vendors”), including several members
of the Stares family which received the Prospectors and Developers Association of Canada’s Bill Dennis Prospector of the Year Award in 2007.
Pursuant to the Purchase Agreement, the Company will indirectly purchase 7 exploration-stage mineral claims located in Toogood Arm in Newfoundland (the “Toogood Arm Property”), along with all related permits and technical data (collectively, the “Purchased Assets”).
Toogood Arm Property
The Toogood Arm Property consists of 247 units covering 6,175 hectares and expands Trius’ Newfoundland land package, following Trius’ acquisition of the Gander West Property as announced on September 21, 2020.
The Toogood Arm Property is largely unexplored. At the Wild Cove claims which form part of the Toogood Arm Property, historical grab samples from the massive, banded sulphides within Zone 1 returned assay values up to 25.0% zinc (Zn), 2.4% copper (Cu), 86 g/t silver (Ag) and 1.9 g/t Au, and grab samples of stringer mineralization returned values up to 9.1% Zn, 1.8% Cu, 2.51 oz/t Ag and 1.9 g/t Au. An average value based on 10 selected samples from Zone 1, including massive, semi-massive, stringer and disseminated mineralization, is 11.91% Zn and 1.33% Cu. Historical diamond drill hole WC-96-01 was collared in Zone 1 mineralization and returned an average assay value of 5.7% Zn, 1.2% Cu, 40 g/t Ag and 1.0 g/t Au over an interval of 4.0 meters. (Reference National Mineral Inventory Number: 002E/10/Cu 004, Record ID Number: 264)
Note that grab samples and drill hole results are select samples and are not necessarily representative of mineralization on the Toogood Arm Property. The diagrams and technical information herein relating to the Toogood Arm Property have been supplied by the Vendors and have not been independently verified by Trius.
Joel Freudman, President and CEO of Trius, said, “We continue to invest in Trius’ Newfoundland land package, following the major gold discovery in the region by New Found Gold, and are thrilled to do it by partnering with the renowned Stares family. The Toogood Arm Property is under-explored, yet still has enough historical work to serve as a strong starting point for advancement.”