Trueclaim Exploration Inc. has received its formal drill permit from the U.S. Forest Service (USFS) for its Black Diamond silver/copper/gold project.
The permit took significantly longer than anticipated as Trueclaim was required to produce reports on cultural and biological surveys that required independent experts to produce. This approval will enable Trueclaim to proceed with its planned program to explore the property.
Trueclaim is excited by the potential opportunity to drill the significant iron nugget/copper/gold anomaly identified during its last year's field program and the high-grade silver vein. This past work identified 600 metres of high-grade copper and gold with copper values up to 7.4 per cent and gold of up to 2.78 grams per tonne. The Trueclaim geological team has a planned program to test the anomaly at depth to determine the continuity with the surface samples and magnetometer survey.
Surface sampling, historical data compilation and a trenching program on the silver vein have returned silver values exceeding 9,000 grams per tonne and identified three district zones of mineralization over a strike length of approximately 500 metres. Historically, the vein is credited with silver ore exceeding 10,000 grams per tonne with gold credits. An induced polarization/electromagnetic orientation geophysical survey to define recognized silver mineralization is currently being planned.
Trueclaim and its new management team are now working on financing options to secure the necessary funds to implement this program.
At Trueclaim's Scadding property, the company is also evaluating financing opportunities to further advance this project. The Trueclaim team has been working with SRK to develop a compliant resource on the property and is pleased with the results to date, which include: 19.29 metres of 12.9 grams per tonne, 15.78 metres of 5.36 grams per tonne and 10 metres of 3.9 grams per tonne with visible gold and many other significant intercepts (please see past press releases).
Trueclaim is also evaluating the potential of the past tailings produced during production at the property in the 1980s. A sampling program has been initiated to provide a number of samples, which are currently being prepared for assay. This sample program consisted of trenching and the use of a split core drill, which allowed Trueclaim to effectively take samples throughout the area, determine depth of tailings and retain samples for verification.
Trueclaim is also pleased with the progress being made by Northern Skye Resources. Northern Skye optioned five properties from Trueclaim in 2011. Trueclaim holds three million shares in Northern Skye and has a carried interest of 10 per cent on the properties (this can be purchased for $10-million) and a right of first refusal to develop any property it deems warranted. This deal was completed at no cost to Trueclaim shareholders. Northern Skye has subsequently joint ventured one of the properties to Golden Bridge Mining, which is doing an exploration program and have drilled another, and is working toward a compliant resource on it. Trueclaim feels this is a significant asset to the company as the last Northern Skye finance was done at 25 cents. Northern Skye has a solid management team and a clear plan to move the properties forward.
Trueclaim is confident it has made the right moves to advance all its projects. The company will be providing further updates in the coming weeks.