Treasury Metals (TML) - Exploration Plan Delivering Real Scale

Treasury Metals Inc. is a gold-focused exploration and development company with assets in Canada. The company's fully-owned Goliath Gold Complex in Ontario features the Goliath Gold Project, the Goldlund Mine Project, and the Miller Mine Project. 

We met with Maura Kolb, Director of Exploration, Treasury Metals. Maura is a professional geologist with more than a decade of experience in gold mining and exploration. She previously worked with Goldcorp, Newmont, Evolution, and Battle North Gold leading exploration at the Red Lake Camp. She completed a Master's Thesis at Lakehead University that focused on structural controls for gold mineralization at Musselwhite Mine and Hammond Reef deposit. 

Company Overview 

Treasury Metals was founded in 1997 and is headquartered in Toronto, Canada. The company is listed on the Toronto Stock Exchange (TSX: TME) and the OTC markets (OTCQX: TSRMF). Goldeye Explorations Limited is the company's subsidiary. The company's flagship project is the Goliath Gold Complex located in Ontario, Canada. It features a first-rate infrastructure with gold mineralization that extends to the surface.

Treasury Metals plans to drill 60,000m at the Goliath Gold Complex in 2021. The Goldlund mine project was acquired by the company in the fall and has significantly added to their strike length. Presently, 3km of the 65km strike length has been explored. The company now has a PEA (Preliminary Economic Assessment) on the resource. The drilling campaign will also focus on stope infilling along with pit expansion. The site features near-surface mineralization that enabled the company to extend the pits and acquire additional satellites. The Miller Mine project is a small satellite on strike at the Goldlund site. 

An Expert Team

Treasury Metals' new team consists of mine builders focused on growing the resource. The team is constantly updating their resource with strong geological models. Each drill hole is being inspected to understand how it impacts the resource.

The company's team has 16 members primarily consisting of local staff. The local workforce helps with a community-focused approach towards achieving consistent results. The team has an equal ratio of men and women hired to promote gender diversity. The Dryden Sioux Lookout area features a team of 70% locals, while 25% of the team members are from north-western Ontario. 

Treasury Metals is working closely with the local community and has employed a First Nation-owned drill company at their Goldlund site. The company has placed a strong focus on community outreach for new hires. 

Data Collection and Validation

Treasury Metals is compiling all the data from the existing, regional, and incoming drill results to gain a deeper understanding of the synergy between the Goliath and Goldlund sites. Maura has a strong background in data compilation and is working with the team to study the underlying geology. 

The company has also inherited data from the previous owners which further helps in improving the geological models. This data can also be utilized towards uncovering new gold deposits and expansion. The company is currently running internal models and testing how drilling impacts the existing model. There has been strong growth in the overall number of hits. They are also analyzing the impact of past drilling on the Miller pit. The update on the Goliath deposit is expected in the coming days and this will help the company adjust its ongoing drill program to better fit its objectives. 

The Goldlund site features the highest grades in the model and the company's team is currently stepping out along the Zone 1 strike. This deposit features shallow mineralization and the company is testing the satellites through geophysics. 

Treasury Metals has a huge land package that remains largely under-explored. More than half of the company's drilling budget has already been utilized at Goldlund and Goliath deposits with an emphasis on resource conversion and pit growth. 

The company has placed 70% focus on resource growth along with 25% towards the future direction of the land package. They are analyzing and testing various land patterns and selecting satellites to explore based on the ongoing fieldwork. 

Exploration Insights

Treasury Metals has placed a strong emphasis on geology and geophysics for their land package. The Goldlund-Miller site features lode-gold style mineralization, while the Goliath site features a VMS (Volcanogenic Massive Sulphide) style mineralization. Due to the presence of different mineralization styles in the region, the company is expecting new discoveries. 

The land package features felsic units that are resistant to erosion. This leads to the rocks sticking out of the ground, eventually forming hills. This has made rock sampling and pattern identification simpler. 

The Goliath deposit is Treasury Metals' flagship asset which is planned as an open-pit, underground operation. The company has drilled 14 holes on the Main and C zones and is focused on expanding the deep underground mineralization. They have a PEA shell along with PEA underground designs that are being utilized to carry out targeted infill in the high-grade shoots to expand the ground stopes. 

The company has drilled 10 holes towards the west end of the deposit for a shallow expansion of the pit. They are in the process of concluding their Goliath exploration program and move towards the northeast target of the Goliath Gold Project. The company has a planned mill in the future located next to the operation with a well-built infrastructure. 

The Goliath area is located close to the town region that consists of local landowners. The company has the right to explore below these nearby properties but not on the surface. Treasury Metals is in talks with the landowners for potential property acquisitions as a way to grow their Goliath land package. 

The company's drilling and stepping out of the Goldlund deposit, though their progress is slowed down with the longer lab turnaround times ranging in 5-7 weeks.

They are mainly focused on Zone 1 and its extension as it features the highest-grade deposits so far. The Goldlund deposit features a straight stratigraphy with complex folding rock formations, usually found in areas featuring high-grade gold deposits. The company's team is focused on pattern recognition to identify potential targets and planned expansion. 

Treasury Metals is looking to grow their resource by expanding the existing pits at Goldlund and put out a resource update at Goliath in the coming week. The company has concluded 53% drilling on Goliath and 62% at the Goldlund deposit so far. 

Targets 2021 and Beyond

The company is consistently analyzing the new pits and tweaking its model to better suit the results. The company will focus 25% of its resources on exploration in 2022. Equipped with a strong land package, the company is seeking a hub-and-spoke arrangement in the future with a focus on organic spoke growth. Treasury Metals has prioritized entering production and work towards building a mine.

To find out more, go to the Treasury Metals Website