TriMetals Mining Inc

August 01, 2014 06:00 ET

TriMetals Mining Inc. Intersects 38 metres of 1 g/t AuEq(i) including 7.6 metres of 3.2 g/t AuEq at the Jumbo Target on the Gold Springs Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 1, 2014) - TriMetals Mining Inc. (TSX:TMI)(TSX:TMI.B)(OTCQX:TMIAF)(OTCQX:TMIBF), a gold stock, is pleased to announce the results from an important additional Reverse Circulation ("RC") drill hole from the Jumbo Area and six RC holes from the Etna Area at the Gold Springs gold-silver project in the mining friendly jurisdictions of Nevada and Utah, USA.

RC hole J-14-011 intersected 38.1 metres of 1.01 g/t AuEq(i), including 7.6 metres of 3.21 g/t AuEq(i), to the east of the center portion of the Jumbo resource block where previous drilling was done in this sector. Further drilling will be needed to better understand the relationship of this mineralization to that to the North and to the South due to east-west faulting in the area. The indications, however, are that this intercept extends the 200m long higher grade southern Jumbo zone, which includes the 67m@1.03 g/t AuEq* in hole J-14-004, reported in the previous news release (NR14-16, July 11, 2014) for an additional 100 metres to the north.

Hole From (m) To (m) length (m) Average Au g/t Average Ag g/t AuEq* g/t True
Thickness m
J-14-011 71.6 126.5 54.9 0.54 13.48 0.77 49.7
82.3 120.4 38.1 0.71 16.93 1.01 34.5
91.4 99.1 7.7 2.48 41.54 3.21 6.9
91.4 94.5 3.1 4.97 80.45 6.38 2.8

Azimuth 270°, declination -55°. Cut off 0.1g/t AuEq. *Gold Equivalent ("AuEq") uses a Au/Ag ratio of 57.14 and assumes 100% metallurgical recoveries.

Ralph Fitch, President and CEO of TriMetals Mining Inc. (the "Company") stated "These results again expand the mineralized zone at Jumbo where we have established a mineral resource (Amended PEA filed on July 8, 2014). It also demonstrates that as we continue the drill program we continue to expand the mineralization and get ever closer to our near term goal of a million ounces AuEq*. As I keep restating, the significant upside the Company has, is that less than 10% of the prospective areas at Gold Springs have been drilled."

Six RC holes were also completed on the Etna target approximately 2 km south of the present Jumbo Resource Block. Etna was chosen as the next target to test because of extensive outcrops of gold mineralization.

RC hole E-14-001 intersected mineralization over 106.7 metres @0.49 AuEq* and included 29 metres of 1.03 g/t AuEq*. This broad zone relates to RC hole E-12-001 drilled approximately 50 metres to the north which intersected 125 metres of 0.35 g/t AuEq* including 39.6 metres of 0.64 g/t AuEq*. More drilling is required to further define this new zone and its extensions which have the potential to be substantial because of the large intercept widths.

Hole From (m) To (m) length (m) Average Au g/t Average Ag g/t AuEq* g/t True
Thickness m
E-14-001 22.9 129.6 106.7 0.38 6.80 0.49 103.0
77.7 106.7 29.0 0.85 10.22 1.03 28.0
77.7 86.9 9.2 1.94 19.10 2.27 8.8
80.8 85.3 4.5 3.25 31.17 3.79 4.4
E-12-001 4.6 129.6 125.0 0.29 3.3 0.35 117.4
61.0 100.6 39.6 0.57 4.2 0.64 37.2
including 91.4 100.6 9.2 1.55 9.9 1.72 8.6
91.4 93.0 1.6 4.86 17.1 5.16 1.4

The remaining five holes at Etna were exploratory in nature and intersected weak mineralization often over broad widths. Further geological and geophysical analysis and additional drilling is required in the Etna zone to follow the extensions of the mineralized body found in E12-001 and E14-001.

Sections showing the location of the reported holes can be found on the Company's website at:

The drill program at Gold Springs started at Jumbo where eleven holes have been drilled, it then moved to the Etna target, 2 km south of Jumbo, which was chosen as the third target for this year's drill program. Six exploration holes were completed on the Etna target and then the drill was moved to Grey Eagle where eleven holes have been completed. Samples from the Grey Eagle holes are presently in the laboratory for assaying.

The following lists the results from all the six Etna RC holes:

RC Hole Azimuth Inclination From (m) To (m) length (m) Average Au g/t Average Ag g/t AuEq* g/t True Thickness m
E-14-001 70 -45 22.9 129.6 106.7 0.38 6.80 0.49 103.0
E-14-001 77.7 106.7 29.0 0.85 10.22 1.03 28.0
E-14-001 77.7 86.9 9.2 1.94 19.10 2.27 8.8
E-14-001 80.8 85.3 4.5 3.25 31.17 3.79 4.4
E-14-001 42.7 53.3 10.6 0.33 11.86 0.53 10.3
E-14-002 247 -45 4.6 30.5 25.9 0.16 2.49 0.20 Unknown
E-14-002 4.6 13.7 9.1 0.26 2.52 0.30 Unknown
E-14-003 70 -45 39.6 146.3 106.7 0.16 3.22 0.22 103.0
E-14-003 39.6 67.1 27.5 0.20 4.11 0.27 26.5
E-14-003 88.4 99.1 10.7 0.32 4.96 0.40 10.3
E-14-003 123.4 132.6 9.2 0.42 5.47 0.52 8.8
E-14-004 70 -45 0.0 152.4 152.4 0.11 2.79 0.16 147.2
E-14-004 0.0 15.2 15.2 0.20 4.48 0.28 14.7
E-14-004 0.0 4.6 4.6 0.37 6.20 0.48 4.4
E-14-004 120.4 134.1 13.7 0.35 4.36 0.43 13.2
E-14-005 70 -45 10.7 100.6 89.9 0.09 2.81 0.14 86.9
E-14-005 10.7 24.4 13.7 0.14 4.38 0.22 13.2
E-14-006 55 -45 0.0 61.0 61.0 0.17 3.11 0.22 58.9
E-14-006 0.0 32.0 32.0 0.24 3.78 0.30 30.9
E-14-006 158.5 163.1 4.6 0.05 17.03 0.35 4.4

*Gold Equivalent ("AuEq") uses a Au/Ag ratio of 57.14 and assumes 100% metallurgical recoveries. Cutoff 0.1gt AuEq.

About TriMetals Mining Inc.

TriMetals Mining Inc. is a growth focused mineral exploration company creating value through the exploration and development of the near surface, Gold Springs gold-silver project in mining friendly Nevada and Utah in the U.S.A.; the advancement of the large scale Escalones copper-gold project in Chile; and realization of value from the expropriated Malku Khota project in Bolivia through an arbitration process.

The Company's approach to business combines the team's track record of discovery and advancement of large projects, key operational and process expertise, and a focus on community relations and sustainable development. Management has extensive experience in the global exploration and mining industry.

The Company's common shares and Class B shares are listed on the Toronto Stock Exchange under the symbols "TMI" and "TMI.B" and the common shares and Class B shares also trade on the OTCQX market under the symbol "TMIAF" and "TMIBF". Additional information related to TriMetals Mining Inc. is available at and on SEDAR at

Qualified Person

The Qualified Person on the Gold Springs property is Randall Moore, Executive Vice President of Exploration - North America of TriMetals Mining Inc. and he has reviewed and approved the content of this press release.

Quality Assurance and Quality Control

Approximately 5.5 kg of RC chips are sent to the laboratory for each 1.52 metre drill interval. 5% of the samples submitted by the Company are blanks and standards. In addition the laboratory also includes duplicates of samples, standards and blanks. The results of these check assays are reviewed prior to the release of data. All RC chip sample assays are also reviewed for their geological context and checked against the drill logs.

Assay Method: Assays were performed in Reno, Nevada by Inspectorate Laboratories, an ISO 9001:2000 Certified laboratory. Gold was analyzed by fire assay of a 30 gram sample with an AAS finish (FA430). All other elements were analyzed by the 30element, 4 acid ICP method (MA330).

Gold Equivalence: AuEq* was calculated using a gold/silver ratio of 57.14 to be consistent with that used for previously reported drill results and have not been adjusted for metallurgical recoveries.

Forward-looking Statements

Certain statements contained herein constitute "forward-looking statements". Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "prospective", "indications", "goal", "upside", "expansion", "further", "continue-to", "potential", "will" and similar expressions. Information concerning the interpretation of drill results may also be considered forward-looking statements as such information constitutes a prediction of what mineralization might be found to be present if and when a mining project is actually developed. These forward- looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, possible variations in mineral resources, grade, metal prices; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated; regulatory, environmental and other risks of the mining industry more fully described in the Company's Annual Information Form, which is available on SEDAR at The assumptions made in developing the forward-looking statements include: the accuracy of current resource estimates and the interpretation of drill, metallurgical testing and other exploration results; the continuing support for mining by local governments in Nevada and Utah; the availability of equipment and qualified personnel to advance the Gold Springs project; execution of the Company's existing plans and further exploration and development programs for Gold Springs, which may change due to changes in the views of the Company or if new information arises which makes it prudent to change such plans or programs.

Readers are cautioned not to place undue reliance on the forward-looking statements contained in this news release. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward-looking statements in this news release describe the Company's expectations as of August 1, 2014.

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