Trius Commissions Prospecting on Its Properties Near New Found Gold’s Queensway Project

FREDERICTON, New Brunswick, Oct. 06, 2020 (GLOBE NEWSWIRE) -- Trius Investments Inc. (TSXV: TRU) (“Trius” or the “Company”) is pleased to provide the following updates with respect to its mineral exploration investments in the Central Newfoundland Gold Belt.

These holdings are located north of New Found Gold Corp.’s Queensway Project, where that company just announced two drill hole results including 41.2 grams per ton (g/t) of gold (Au) over 4.75 metres (m), and 25.4 g/t Au over 5.15 m. (source: New Found Gold Corp. October 2, 2020 press release)

Toogood Arm
As previously announced on September 24, 2020, Trius entered into a mineral property acquisition agreement to indirectly purchase 7 exploration-stage mineral claims located in Toogood Arm in central Newfoundland (“Toogood Arm”), along with all related permits and technical data. Toogood Arm is approximately 120 kilometres (km) north of the Queensway Project.

Last week Trius engaged external consultants to carry out a one-day preliminary reconnaissance prospecting visit to Toogood Arm, which consists of 247 units covering 6,175 hectares of largely unexplored ground. The consultants collected 9 rock samples, which will be sent to an assay laboratory in Newfoundland for analysis.

The acquisition of Toogood Arm remains pending and will be completed as soon as is practicable based on governmental claims transfer processing times. The transaction also remains subject to regulatory approval by the TSX Venture Exchange.

Gander West
Trius is also in the process of engaging external consultants to carry out a similar reconnaissance prospecting visit to Trius’ Gander West exploration property in central Newfoundland (“Gander West”).

Gander West is located approximately 16 km from the centre of the Queensway Project, and consists of 120 claims covering 3,000 hectares of unexplored, prospective ground.

Trius continues to assemble a portfolio segment of mineral exploration property investments in Newfoundland, along with a Newfoundland-based advisory team to help enhance the value of those holdings. Although the Company is not presently conducting in-house or extensive exploration programs at these properties, the Company has started to engage external consultants for early-stage work because Trius believes that modest incremental investments in the exploration of Toogood Arm and Gander West could enhance the monetization potential of those assets at a reasonable cost.