Trueclaim Exploration Inc.

May 16, 2011 12:03 ET

Trueclaim Intersects 9.44 Metres of 2.54 g/t Au at the Scadding Gold Project

LONDON, ONTARIO--(Marketwire - May 16, 2011) - Trueclaim Exploration Inc. ("Trueclaim") (TSX VENTURE:TRM)(OTCQX:TRMNF) recently drilled four oriented holes in the South Zone on the Scadding Gold Property (the "Property"). These four holes were drilled to provide clarification on the orientation of geological contacts and chloritic gold-bearing units specific to the South Zone.

Results of the oriented measurements are consistent with those taken in the North Zone and at the East-West Pit. It is very encouraging that the three zones drilled with oriented core suggest the same orientation of mineralization. Orientation measurements are also consistent with the regional trend of 320 degrees. An olivine diabase dyke cross-cuts the mineralized body in the South Zone. The first two holes were drilled targeting the auriferous chlorite on the north-eastern side of the dyke and the other two holes were targeting the mineralization to the south-west. Consistent structural orientation measurements in chlorite breccia were obtained on both sides of the diabase. This will enable us to explore for along-strike and down-dip extensions of mineralized chlorite breccia, and provide greater accuracy in the calculation of true width intersections.

Significant intersections from the four oriented holes in the South Zone are shown in the chart below:

Hole IDFrom (m(ft))To (m(ft))Length (m(ft))Au (g/t)
TRM-11-2642.15 (138.25)44.73 (146.71)2.58 (8.46)3.18
TRM-11-2656.09 (183.98)56.59 (185.61)0.50 (1.63)1.72
TRM-11-2744.00 (144.32)45.48 (149.17)1.48 (4.85)1.07
TRM-11-28A27.36 (89.74)36.80 (120.70)9.44 (30.96)2.54
Containing30.40 (99.71)30.90 (101.35)0.50 (1.64)17.27
TRM-11-2924.00 (78.72)25.00 (82.00)1.00 (3.28)8.91

The new assay data is consistent with South Zone drilling from 2009 to the start of the Phase II drilling program. Below are the previously reported significant intercepts from this zone:

Hole IDFrom (m(ft))To (m(ft))Length (m(ft))Au (g/t)
TRM-11-1053.0 (173.8)68.78 (225.7)15.78 (51.9)5.36
Containing56.0 (179.76)62.0 (203.4)6.0 (23.64)11.74
TRM-11-0332.0 (105.0)51.0 (167.3)19.0 (62.3)2.46
Containing36.0 (118.1)43.0 (141.0)7.0 (22.9)4.45
TRM-09-0226.9 (88.2)37.0 (121.4)10.1 (33.2)3.5
TRM-10-1152.77 (173.1)54.0 (177.1)1.23 (4.0)11.2
TRM-11-013.0 (9.84)8.0 (26.24)5.0 (16.4)2.38
TRM-11-0216.0 (52.5)26.0 (85.3)10.0 (32.8)1.2
TRM-11-0927.0 (88.6)28.0 (91.9)1.0 (3.3)7.28
TRM-11-0645.23 (148.4)46.0 (150.9)0.77 (2.5)7.84
TRM-11-0849.0 (160.8)50.0 (164.1)1.0 (3.3)5.36

To view the map accompanying this press release please click on the following link:

The Trueclaim geological team used the recently collected oriented data in Surpac to model the geological contacts and gain a better understanding of the relationships of the geological units in the South Zone. This greatly enhances the understanding of the direction entailed to further extend the zone.

The Company holds the Scadding property under option from Currie Rose Resources (TSX VENTURE:CUI) and has the right earn a 100% working interest in the property.

We seek safe harbour.


John Carter, President

Technical information in this news release has been reviewed by Ms. Lindsay Moss, P. Geo. and prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101. Trueclaim's quality control and assurance program includes the insertion of standards and blanks, the retention of ½ of the cut core that has been sampled, pulps and rejects, and uses a independent certified lab, Accurassay Laboratories of Thunder Bay, ON. Samples are sent for fire assay and if warranted for ICP. Assays of significance are reassayed using screen metallics to ensure accurate values. Company Management, which takes full responsibility for content, prepared this news release.

This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others, those concerning the proposed diamond drilling program. All statements in this news release, other than statements of historical facts, which address future production, reserve potential, exploration activities, financing plans, objectives or goals, and events or developments that the Company expects, are forward-looking statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding its ability to complete its exploration and development work as expected. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of the Company's continued development work, technical, safety or regulatory issues, market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Actual results or developments may differ materially from those projected in the forwardlooking statements, as assay intervals might not necessarily represent true width. Such risks include expectations that may be raised by discussing potential mine types and by comparing the Company's projects to other projects. Also, in order to proceed with the Company's exploration and acquisition plans, additional funding is necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate the Company's plans. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Trueclaim Exploration Inc.
    John Carter
    1-888-686-1405 (FAX)