HEMLO
– TRI has now acquired over 22,000+ acres (100% optioned) of prospective claims in the Hemlo gold camp during 2014-2015-2016. Hemlo South is situated approximately 1,000 metres from Barrick’s Williams Mine and open pit. Hemlo West and Black River claims are situated approximately 2.9 kilometres west of the open pit and Hemlo North approximately 7.6 kilometres north of the pit. The latest addition, Hemlo Pinegrove, is situated approximately 12 kilometres north of the Williams Mine and pit.
Barrick Gold has been very active during 2015-2016 at Hemlo, including drilling and exploration. As a result there is renewed activity in the Camp with claim staking by some junior companies, including Canadian Orebodies, with Osisko Mining subsequently acquiring a 19.9% interest in Canadian Orebodies; bringing a more major player into the staking rush.
During August, TRI contracted Prospectair to conduct a 956 kilometre T-DEM airborne survey. This survey covered all of Hemlo West, Hemlo North and Hemlo Pinegrove. This airborne, confirmed previously interpreted shear zones outlined by Kaminak Gold.
LAROSE
– Situated 110 kilometres west of Thunder Bay in the Shebandowan Gold Camp, the Larose property includes the Larose Shear Zone (LSZ) which runs approximately 9 kilometres and probably another 4-5 kilometres through the Echo Ridge property which is 50% controlled by TRI. The combined properties cover approximately 11,500+ acres (including the Larose and Echo Ridge). There is a renewed interest in the area with Wesdome Mines (3,000,000+ million ounces Au) expanding their land position and Kesselrun Resources Ltd acquiring the Ardeen Mine property from Pele Mountain, which adjoins the Larose.
TRI controls the largest land position in the immediate area and has commenced drilling near the P1 Trench and Larose Trench. The first drill hole intersected an “unexpected” high grade gold bearing zone, including 5.65 grams of gold per tonne (g/T Au) over 3.00 metres from 42.00 to 45.00 metres downhole, including 0.50 metres of 27.69 g/t Au. If adjacent samples with lower gold contents are included, a section from 38.50 to 46.00 metres, averaged 2.84 g/t Au over 7.50 metres. TRI is presently performing additional exploration drilling to determine the extent of the Larose/T-Trench zone.
During August, TRI contracted Prospectair to perform a T-DEM airborne survey of approximately 811 kilometres, which was conducted after completing the Hemlo airborne. This airborne further outlined potential drill targets of interest.
Recent samples taken from backhoe and surface trenching from the P1 Trench, NW View Trench and T Trench, included 1.78oz and 2.5oz of gold.
OPINACA
– Situated in James Bay, Quebec; this area has drawn the attention of investment institutions since Goldcorp acquired the Éléonore (approximately 8-9,000,000 ounces Au) from Virginia Mines. TRI acquired a 50% interest in approximately 18,600 acres from Trincan Capital in 2014 and is presently in negotiations to acquire a 100% interest in 4,500 acres situated in the center of the 18,600 acres. An airborne T-DEM over 1,400 kilometres was conducted by Prospectair in 2012 which indicated potential good drill targets for winter drilling. The property is surrounded by Virginia Mines (now Osisko) and Goldcorp to the east, including Sirios and Beaufield. There is major exploration and development taking place in the Opinaca area, including Opinaca.
Recently, TRI completed sonar testing over the 18,000+ acre claim block, along with sampling.
The properties listed above have drawn attention from investment institutions and management discussions are ongoing with regard to financing the drilling and exploration program during the balance of 2016, with an aggressive exploration and drilling program to commence during the winter and spring 2017 season.
Management has commenced an offering of Units consisting of treasury and flow-through shares which is now available to shareholders and the public; presently restricted to “accredited investors” and institutions only. An Offering Memorandum is expected to be avaliable for additional investors during the first quarter 2017.
