True Gold Mining Inc.: Goulagou Drilling Intersects 3.75 g/t Gold Over 56.0
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/06/13 -- True Gold
Mining Inc. (TSX VENTURE:TGM) ("True Gold" or the "Company") is
pleased to report that large-diameter metallurgical core drilling at
the Company's flagship Karma Gold Project ("Karma Project") in
Burkina Faso has returned broad intersections of high-grade gold
mineralization at the Goulagou I and Goulagou II deposits.
Significant drill hole intercepts returned include:
-- 3.75 g/t gold over 56.0 metres, in GLG-DD-12-112
-- 4.43 g/t gold over 24.0 metres, in GLG-DD-12-109
-- 2.53 g/t gold over 22.0 metres, in GLG-DD-12-107
-- 2.22 g/t gold over 22.0 metres, in GLG-DD-12-114
-- 2.65 g/t gold over 14.0 metres, in GLG-DD-12-110
(See map on the True Gold Website for the location of the holes, or
click on this link:
pdf.For a full table of results related to gold mineralization, please
click on this link:
The recent HQ-sized core drilling campaign at the Goulagou deposits
totaled 1,369.40 metres in 16 holes drilled within the pit shells.
The holes were drilled as part of a comprehensive metallurgical
program to support the Definitive Feasibility Study ("DFS"), which is
currently underway on the Karma Project. The holes were drilled at
180 and 360 degree azimuths on north-south oriented cross-sections in
the western, central, and eastern portions of each deposit, with dips
ranging from -45 to -60 degrees, and a maximum depth of 120.0 metres.
The DFS is based on a 1.03 million ounce, in-pit indicated leachable
resource averaging 0.94 g/t gold (34.2 million tonnes)(1).
Scott Heffernan named VP, Exploration
True Gold is pleased to announce the appointment of Mr. Scott
Heffernan, M.Sc., P.Geo, as the Company's new Vice President,
Exploration. Mr. Heffernan has more than 15 years of international
exploration and management experience, and has designed and
implemented multi-million dollar exploration programs that have led
to several significant gold and base metal discoveries.
Mr. Heffernan was Vice President, Exploration for Blue Gold M
Inc. prior to its merger with True Gold. Previous to that, he held
the dual positions of Vice President, Exploration for Wealth Minerals
Ltd., and Exploration Manager, Argentina for Cardero Resource
"Mr. Heffernan is a quality addition to the True Gold Owner's Team,"
said Dwayne Melrose, President and CEO, True Gold. "His proven
industry experience and ability to effectively manage and target
large exploration programs will greatly assist our efforts to upgrade
deposits and add new discoveries at our target-rich Karma property,
and advance our understanding of a large, widespread, in-situ gold
system at Liguidi."
Mr. Paul Anderson has resigned from his position as the Company's
Vice President, Exploration. Mr. Anderson has been an integral part
of the Company's team, and helped identify exceptional exploration
properties at Liguidi and Karma. True Gold extends its appreciation
for his contributions to the Company, and wishes Mr. Anderson all the
best in his future endeavours.
Ian Cunningham-Dunlop, P. Eng., Senior Vice President Exploration, is
the Company's designated Qualified Person for this news release
within the meaning of NI 43-101 and has reviewed and verified that
the information contained in this release is accurate and approves of
the written disclosure of same. True widths are estimated to be 50 to
90% of the intersected widths. Samples were assayed by ALS Chemex in
Ouagadougou, Burkina Faso, West Africa. Assays were by Fire Assay
with AAS finish and repeats of all AAS assays over 1.0 g/t by Fire
Assay with gravimetric finish. Control samples (accredited standards,
blanks and duplicate samples at the preparation stage) were inserted
on a regular basis every ten samples. Results were monitored on
receipt of assays.
About True Gold
True Gold Mining Inc. is where gold comes to life. We are committed
to growing a profitable gold exploration, development and production
company, by focusing on projects with low costs, low technical risks
and solid economics. The Company's board, management and technical
teams have proven track records in the capital markets and gold
exploration, development, operations and production worldwide.
Additional information about the Company and its activities may be
found on the Company's website at www.truegoldmining.com and under
the Company's profile at www.sedar.com.
ON BEHALF OF THE BOARD
Dwayne Melrose, President & CEO
Certain statements made and information contained in this news
release and elsewhere constitutes "forward-looking information"
within the meaning of Canadian securities legislation. Such
forward-looking statements are based on certain assumptions and are
subject to risks and uncertainties which could cause actual events or
results to differ from those reflected in the forward-looking
statements, including, without limitation, with respect to statements
regarding the potential increase to mineral resources, the
assumptions set forth in this news release and in the Company's news
release of October 3, 2012 and risks and uncertainties relating to
the interpretation of drill results and the estimation of mineral
resources, the geology, grade and continuity of mineral deposits, the
possibility that future exploration and development results or the
results of the Definitive Feasibility Study on the Karma Project will
not be consistent with the Company's expectations, accidents,
equipment breakdowns, risk of undiscovered, title defects and surface
access, labour disputes, the potential for delays in exploration and
permitting activities, the potential for unexpected costs and
expenses, commodity price fluctuations, currency fluctuations,
political risk and other risks and uncertainties, including those
described under Risk Factors in each management discussion and
analysis and in the Company's annual information form which are
available under the Company's profile at www.sedar.com.
Forward-looking information is based on various assumptions
including, without limitation, the expectations and beliefs of
management, the assumed long term price of gold, that the Company
will receive required permits and access to surface rights, that the
Company can access financing, appropriate equipment and sufficient
that the political environment within Burkina Faso will
continue to support the development of environmentally safe mining
projects. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect, actual
results may vary materially from those described in forward-looking
statements. Accordingly, readers are advised not to place undue
reliance on forward-looking statements.
This news release may use the terms "measured", "indicated" and
"inferred" as these terms are defined under Canada's National
Instrument 43-101. U.S. Investors are advised that, while such terms
are recognized and required by Canadian regulations, they are not
recognized by the United States Securities and Exchange Commission
("SEC") and may not be comparable to similar information for United
States mining or exploration companies. As such, certain information
contained on this news release concerning descriptions of
mineralization and resources under Canadian standards is not
comparable to similar information made public by United States
companies subject to the reporting and disclosure requirements of the
SEC. U.S. investors are cautioned not to assume that any part or all
of the mineral deposits described in these categories will ever be
converted into proven or probable reserves, as defined in the SEC's
Industry Guide No. 7.
(1) See the Company's news release dated October 3, 2012 and
independent NI 43-101 compliant Technical Report titled "Technical
Report and Updated Resource Estimate on the Karma Project, Burkina
Faso, West Africa," dated effective October 1, 2012, filed on SEDAR
(www.sedar.com) November 7, 2012.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
True Gold Mining Inc.
True Gold Mining Inc.
True Gold Mining Inc.
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