Treasury Metals Announces Updated Resource Estimate for Goliath Gold Project

Treasury Metals (TSX:TML) provided an updated mineral resource estimate for its wholly owned Goliath gold project, located 20 kilometers east of Dryden, Ontario.
Highlights included:

• Open Pit and Underground 2015  Resource Estimate:
  • Measured:              90,300 ounces AuEq (1.12 Mt at 2.51g/tonne AuEq);
  • Indicated:          1,075,500 ounces AuEq (19.44 Mt at 1.72 g/tonne AuEq);
  • Inferred:              341,300 ounces AuEq (3.47 Mt at 3.06 g/tonne AuEq).
• New “Measured” Resources identified totalling 90,300 ounces AuEq (Open Pit and Underground).
• Total “Measured” and “Indicated” Mineral Resources now totals 1,165,800 ounces AuEq (20.56 Mt at 1.76 g/t AuEq), an increase of44% from the 2011 Resource Estimate.
• Open Pit Resources increased from 348,000 “Indicated” ounces AuEq in 2011 to a combined “Measured” and “Indicated” Resource of 775,600 ounces AuEq in 2015 that more than doubles the near surface gold Resources.
• The combined “Measured” and “Indicated” underground gold resource totals 2,367,000 tonnes and grades 5.13 g/t AuEq for a total of 390,100 AuEq ounces.
• Gold Resources at Goliath remain open at depth and along strike.

Treasury Metals president and CEO, Martin Walter, said:

We are very pleased with the conversion of ounces into the “Measured” and “Indicated” categories with this resource as the basis of our upcoming Feasibility Study.  These results show the strength of the deposit as we continue down the development path towards our goal of mine operation.

Click here for the full press release.