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TRM Trueclaim Exploration Inc

0.10
0.00 (0.00%)
24 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Trueclaim Exploration Inc TSXV:TRM TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.10 0.07 0.10 0 01:00:00

Trueclaim Announces Results From Summer Field Work at the Tecumseh Property

16/08/2011 5:27pm

Marketwired Canada


Trueclaim Exploration Inc. ("Trueclaim") (TSX VENTURE:TRM)(OTCQX:TRMNF)(PINK
SHEETS:TRMNF) recently finished a field mapping and sampling program on the
Tecumseh property. The Tecumseh property is located 50 kilometres northeast of
Sudbury and 8 kilometres northeast of the Scadding Gold Property. 


The Tecumseh property consists of multiple parallel quartz veins hosted in
Nipissing Diabase. Nipissing Diabase intrusions are well known intrusions
favourable for platinum, palladium and gold mineralization. The Shakespeare open
pit owned and operated by URSA Major Minerals, located 70km west of Sudbury is
in Nipissing Diabase producing nickel, copper, cobalt, platinum, palladium, gold
and silver. 


The quartz veins on the Tecumseh Property are trending East-West and dipping to
the south. Historical trenching has exposed an area of quartz veining
approximately 450 metres by 300 metres. The trenches provided good exposure to
the quartz veins on the property.


The quartz veins average about 10cm in width. Multiple samples contain
chalcopyrite and visible gold. A total of 28 individual quartz veins were
sampled throughout the property from 14 historic trenches. 


Shown below are the highlights of the quartz vein grab samples collected from
the Tecumseh property and a map showing the results:




---------------------------------------------
Sample ID              Au (g/t)      Au (oz/t)
---------------------------------------------
Z061759                  82.52           2.89
Z061773                  59.06           2.07
Z061776                  46.35           1.62
Z061745                  36.94           1.29
Z061752                  22.47           0.79
Z061753                  16.32           0.57
Z061756                  15.42           0.54
Z061778                  11.13           0.39
Z061780                  11.11           0.39
Z061770                   7.62           0.27
Z061777                    4.3           0.15
Z061747                   2.71           0.09
Z061758                   2.31           0.08
Z061750                   2.04           0.07
Z061766                   1.07           0.04
Z061739                   1.03           0.04
---------------------------------------------



To view the map accompanying this press release please visit the following link:
http://media3.marketwire.com/docs/truemap816.pdf


Three grab samples were also taken from a pile of quartz previously removed from
historical trenching. The pile covers approximately 5x5 metres and is piled
approximately 1 metre high. The contents of the pile were dominantly
sulphide-bearing quartz vein material. Assayed gold values from these samples
revealed: 




---------------------------------------------
Sample ID              Au (g/t)      Au (oz/t)
---------------------------------------------
Z061761                   9.89           0.35
Z061762                  17.11           0.60
Z061763                   2.91           0.10
---------------------------------------------



Due to the encouraging results obtained from this sampling program, Trueclaim
has applied for a permit to take a 1,000 tonne bulk sample from the Tecumseh
Property. With the close proximity of this property to the Scadding Mine site it
could be economical to process Tecumseh material on the Scadding Mine-site
should a mill be built there.


The Company has optioned the property from Terry Loney and is working towards
earring a 100% interest in the property.


We seek safe harbour.

ON BEHALF OF THE BOARD

TRUECLAIM EXPLORATION INC.

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 1/2 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 bulk sample 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 forward-looking 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.


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