Business
TRU Precious Metals Closes Option Agreement with Subsidiary of Altius Minerals to Purchase Golden Rose Project
Fredericton, New Brunswick--(Newsfile Corp. - May 12, 2021) - TRU Precious Metals Corp. (TSXV:...
About this update from Tru Precious Metals Corp.
[{"type":"text","content":"TRU Precious Metals Closes Option Agreement with Subsidiary of Altius Minerals to Purchase Golden Rose ProjectFredericton, New Brunswick--(Newsfile Corp. - May 12, 2021) - TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (\"TRU\" or the \"Company\") is pleased to announce that it has closed the option agreement dated February 23, 2021 (the \"Option Agreement\") with a subsidiary of TSX-listed Altius Minerals Corporation (TSX: ALS) (\"Altius\") to purchase Altius' Golden Rose Project (as defined below). This is further to the Company's press releases dated January 7, 2021, February 2, 2021 and February 24, 2021.TRU Co-Founder and CEO Joel Freudman commented: \"We are delighted to welcome Altius as a strategic investor to TRU, as our largest shareholder. Our partnership to explore and develop the Golden Rose Project is an integral component of TRU's growth trajectory. This transaction propelled TRU to its Change of Business to a mining issuer, for which we received conditional approval from the TSX Venture Exchange on April 30, 2021, and will be completing imminently. Having also raised $3.5 million to fund work on the Golden Rose Project and our other projects, as well as a variety of public company initiatives, we are excited about the evolution of TRU to an exploration and mining company.\"Golden Rose Project The Golden Rose Project is a regional-scale land package covering 105 km2 within the Valentine Lake structural corridor, and is easily accessible via provincial highway and forest access roads. It is located between Marathon Gold Corp.'s Valentine Gold Project to the northeast and Matador Mining Ltd.'s Cape Ray Gold Project to the southwest.Figure 1: Golden Rose Project Regional LocationTo view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/5993/83711_61148ce4e42a490d_001full.jpgIn terms of top prospects, the South Woods Lake zone has yielded historical grab samples up to 65 grams per ton (g/t) of gold (Au), and drill intercepts including 1.37 g/t Au over 26.31 metres (m) and 2.14 g/t Au over 16.11 m. To date, the zone has been outlined to greater than 550 m on surface and remains open along strike and at depth. Gold mineralization at the South Woods Lake zone is hosted by variably textured, sheared and brecciated, intrusive rock, and within of a network of thin, anastomosing, quart...