TRU has assembled a portfolio of four gold exploration properties in the highly prospective Central Newfoundland Gold Belt.
TRU is backed by large institutions, well funded and partners with industry leading firms, recently retaining GoldSpot Discoveries to apply artificial intelligence and geoscience expertise at Golden Rose.
The Company’s flagship Golden Rose Project is sandwiched between two proven gold projects (Marathon and Matador) and recently delivered visible gold found in initial sample drilling.
TRU Precious Metals’ (TSXV: TRU, OTCQB: TRUIF, FSE:706) flagship Golden Rose Project is strategically located in the deposit-bearing Valentine Lake structural corridor sandwiched between two proven gold projects, TSX Listed Marathon Gold’s Valentine Lake Project with a 4+ Million ounce gold resource, and Australian listed Matador Mining Ltd whose Cape Ray Project has an approximately 840Koz total resource. All great indicators of a viable property in between them.
- The same geological formation that runs through those properties also runs through Golden Rose.
- Surface gold was found at the site, and historical drilling has shown samples of multiple grams per ton of gold at Golden Rose.
- The jogs and offsets of the geologic formation at the south end of Golden Rose are an indication of dilation zones that are desirable targets for gold to be found.
- TRU’s Golden Rose Project recently announced visible gold found in its sample drilling, which makes its discovery potential even better.
- TRU has the necessary attributes needed for a junior gold explorer's success.
When real estate investing, the savvy investor will look for the most undervalued house on a great street. It is rare to invest with that same method with a gold exploration company, but here it just may be possible. In short, TRU Precious Metals is a Newfoundland gold exploration company with a property on the Valentine Lake Crustal Structure; this structure is the host to several other deposit-bearing projects north and south of TRU. The crustal structure runs all the way through TRU's property and has a hinge in the fault line with visible gold already found as well as other surface gold discovered previously. All of these are indications of the potential for orogenic gold deposits, making it one of the more attractive houses at these price ranges on this prominent street.
TRUth or Dare? Corporate Overview
TRU is one of the new kids on the Newfoundland block, having operated as a mining issuer for under a year. They have four properties in the Central Newfoundland Gold Belt, the same region as New Found Gold Corp. among other large mineral exploration companies dominating the headlines. TRU is advancing its flagship Golden Rose Project where a 5000-metre diamond drill program is currently underway as announced on October 19th. Golden Rose is a regional-scale land package covering 215.25 square kilometres (km2), including approximately 45 km of strike length along the deposit-bearing Cape Ray-Valentine Lake structural corridor between Marathon Gold Corp.’s Valentine Gold Project to the northeast and Matador Mining Ltd.’s Cape Ray Gold Project to the southwest.
Golden Rose; The Cheapest House in the Best Neighbourhood?
Golden Rose is a 215.25 square kilometer land package that is located in the middle of the Cape Ray-Valentine Lake shear zone, which traverses the property diagonally from northeast to southwest. TRU's Golden Rose agreement includes an option to acquire a 100% interest, making up 45 kilometers of strike length and sandwiched between two significant and proven gold deposits.
The Marathon Valentine Gold Project to the northeast has a resource exceeding four million ounces of gold, and to the southwest is Matador Mining's Cape Ray Project with a resource approximating 840,000 ounces. These two adjacent companies have found multiple sized deposits that make up the finds on their properties.
TRU aims to uncover a similar pattern over their portion of the sandwiched strike length, that is, the Golden Rose Project.
What Makes Golden Rose Geologically Attractive?
Marathon's Valentine Gold Project to the Northeast of Golden Rose has a bend to it, and along the arch, Marathon has found gold at the surface. The Golden Rose property also has an unusual structure running through its length, and exploration along parts of the area has previously sampled gold at the surface.
There are a few hinges that stand out at Golden Rose that make up part of the structural fault towards the southwest portion of the property, and this southern area has been named the Wood Lake Gold Zone.
In the gold exploration business, you’re looking for areas where geological formations change directions called jogs or offsets. These kinds of hinges or bands are very good at preparing the rock with gold mineralization. The crustal-scale structures are flexed and open up what is known as dilation zones. These dilation zones are spaces that were created millions of years ago, and when the gold-containing fluids come through the area, the dilation zones are perfect for the depositing of shiny minerals that we are looking for.
The Woods Lake Gold Zone sits on one of these flexures. Approximately 20 years ago, gold was found at Woods Lake through panning and trenching at the lakeshore. In the years since, sporadic drilling has been completed totaling 40 holes, showing a total of 550 meters of strike length. Those have produced finds of multiple grams per ton of gold found over good thicknesses.
This kind of formation combined with surface gold are good signs of a potentially successful location.
Hunting For Visible Gold
On October 19th, TRU announced the beginning of its 5,000-meter drilling program over two of its sites at the Golden Rose Project, approximately 3,500 meters focusing on the Woods Lake Gold Zone and specifically on the big flexure in the shear zone. The drilling has two defined goals; infill samples, to determine the size and shape of the main area of interest. Also, scout drilling to discover the breadth of the potential on the property and to find additional targets along the shear zone. This drilling has been planned with technical advice and input from GoldSpot Discoveries Corp. (TSXV: SPOT, OTCQX: SPOFF), which has helped generate the drilling targets and is the step that begins Woods Lake's advancement towards a potential resource definition stage. The 3,500 meters of drilling is to be completed by the end of the year; visible gold has already been seen in the initial sample; further lab results are eagerly awaited.
Experienced Team and Solid Funding
TRU Precious Metals has strong support behind them to advance their exploration initiatives on the Golden Rose Project. They are already backed by some large institutions like TSX-listed Altius Minerals Corp. (TSX: ALS, OTC: ATUSF) and billionaire mining financier Eric Sprott. In 2021, they were able to obtain two rounds of financing totaling seven million dollars; one was a retail round, and the other was all institutional, giving more credence to the robustness of the Golden Rose Project and Company's expected success. With this funding, TRU is sitting on approximately five million dollars in cash, plenty to keep the current drilling program moving forward and get an idea of what may be in the ground at Golden Rose. The drilling team is experienced and is efficiently moving through their planned process. Management and directors hold approximately 3% of the stock and have a vested interest in the company's success.
Holding their own as a junior gold exploration company with a lot of potential, TRU Precious Metals currently ticks three important boxes:
- Well positioned geological properties is obviously at the top of the list. Golden Rose's location is already proving to have promise and potential, and the announcement of visible gold encountered early in their first drilling program at Golden Rose is further credence that their choice of this property was the right one.
- A company can only explore if they are sufficiently capitalized to do so. With the two recent funding rounds, TRU has the capitalization to keep its exploration program going. The backers behind them will no doubt help provide access to more funds if drilling results show promise.
- Management need to have a vested interest in the project's success and experience to make things happen. With TRU's team and share structure, the key stakeholders are experienced in the exploration business and have skin in the game.
These points give TRUth to the potential for significant upside that the Company currently boasts. While they remain significantly undervalued to their peer group, their TRU defining moment comes at the onset of the upcoming drill results and the yellow metal coming out of the ground will prove if this potential can be achieved.