- TRU Precious Metals (TRU) is acquiring more land as the company continues to consolidate its flagship Golden Rose Project
- The company has signed a purchase agreement for a claims package contiguous with the property
- The Golden Rose Project is located in Central Newfoundland’s Gold Belt
- TRU will pay approximately 80,000 common shares at a deemed price of $0.25 per share in exchange for the land claims
- TRU Precious Metals is down 3.92 per cent, trading at $0.24 at 11:11 am ET
TRU Precious Metals (TRU) is acquiring more land as the company continues to consolidate its flagship Golden Rose Project.
The company has signed a purchase agreement for a claims package contiguous with the property.
The deal includes related permits and technical data.
The Golden Rose Project is located in Central Newfoundland’s Gold Belt.
The purchase includes five licences over 45 claims, covering 1,125 hectares.
Portions of the new land claims are located along trend from the 550-metre-long South Wood Lake Gold Zone and provide additional coverage if the gold zone extends onto the newly-purchased land.
TRU will pay approximately 80,000 common shares at a deemed price of $0.25 per share in exchange for the land claims.
“Consistent with TRU’s stated strategic objective of continuing the expansion and addition of properties of merit along the Shear Zone, this acquisition is further cementing our rapid growth at our flagship Golden Rose Project. Golden Rose is prime real estate for TRU and adding to our land position is key to TRU’s strategic objectives,” said TRU Precious Metals co-founder and CEO Joel Freudman.
TRU has a portfolio of five gold exploration properties in the highly prospective Central Newfoundland Gold Belt. The company has an option with a subsidiary of Altius Minerals Corporation to purchase 100 per cent of the Golden Rose Project, located along the deposit-bearing Cape Ray – Valentine Lake Shear Zone.
TRU Precious Metals is down 3.92 per cent, trading at $0.24 at 11:11 am ET.
