This morning, Trillium Gold Mines (TSXV: TGM) announced that it will be beginning exploration drilling on its Newman Todd property in the Red Lake district. The announcement follows a hiatus of approximately seven years of exploratory activity on the property, and comes as neighboring West Red Lake Gold Mines (CSE: RLG) has conducted extensive drilling on the NT Zone, which runs into Trillium’s property.
Trillium Gold is part of a joint venture on the property with Redstar Gold, where over 55,000 metres of drilling has previously taken place. Past drilling has resulted in assays that include 681 grams per tonne gold over 0.5 metres, as well as 10 metres of 7.43 grams per tonne gold within separate holes. Exploration for the current drill season is to consist of a minimum of 3,000 metres of drilling, which is to occur over 14 planned holes.
The Newman Todd Structure, which is the same structure as is being explored currently by Red Lake Gold, is currently open at depth, to the northeast and to the southwest on Trillium’s property. The structure is the primary focus for the current drill program, both along strike and at depth. Trillium’s property itself is said to be under-explored, containing multiple untested zones overall.
Drilling on the property is expected to begin within the next thirty to forty five days, following the approval from a committee meeting of the joint venture partners.
Trillium Gold Mines last traded at $1.65 on the TSX Venture.
FULL DISCLOSURE: West Red Lake Gold Mines Inc is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover West Red Lake Gold Mines Inc on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
Gold Price Is The US Dollar’s Enemy – The Daily Dive feat Russell Starr of Trillium Gold
Returning to the Daily Dive is Russell Starr of Trillium Gold (TSXV: TGM), whom sits...