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Treasury Metals reveals new drill program at Goliath Gold

Goliath gold project located 20 kilometres east of Dryden

Treasury Metals Inc. (TSX: TML), a Toronto-based junior miner, announced Monday December 16 that it has commenced a 15,000 metre diamond drilling program with two rigs at its flagship Goliath Gold Project located near Dryden in northwestern Ontario.

This initial program will focus on a 5,000 metres infill drill campaign targeting the conversion of underground "inferred" resource blocks to the "indicated" category within the C-Zone East resource area where several significant gold intersections have been found, said a company news release.

The developing high-grade shoot is located approximately 200 metres east of the main resource area and would be directly accessible via proposed mining development infrastructure. This will allow additional resource blocks to be incorporated into a proposed mining plan that will be part of the upcoming preliminary feasibility study, said the company statement.

An additional 5,000 metres program will drill test select down-dip targets identified in the recent downhole IP Survey (see press release dated October 24, 2019), areas identified by recent underground mine scheduling modelling work, and further expansion potential of the high-grade Main Zone and C Zone Central ore shoots down dip. These targets have the potential to add ounces below the currently defined resources and give potential for additional mined resources in future mining studies.

Part of the final 5,000 metres will be dedicated to exploration drilling of on strike extensions across the full Goliath Property. Of particular interest is the northeast fold nose area, results from the soil gas hydrocarbon program and follow-up to holes drilled on the far east of the property, 11 km along strike from the current resource. This drill hole encountered approximately 100 metres (drilled length) of felsic volcanics and portions with gold mineralization similar to those found in the resource area.

To view further details about the Goliath Gold Project please visit the Company's website at