Trueclaim Resources (OTCQX: TRMNF; TSX-V: TRM) has entered into an option agreement with Silver Shield Resources on its Sandeb Gold Project, which covers 3,360 acres in the prolific Red Lake Gold District. Under the terms of the agreement, Silver Shield can earn a 100% interest in the project by issuing to Trueclaim a total of 500,000 shares of Silver Shield over the next 24 months and incurring exploration expenditures of $100,000 each year for the next three years.
Trueclaim Exploration Retains SRK Resource Consultants for Technical Assistance on Upcoming 8,000 Metre Drill ProgramJanuary 26, 2011
Trueclaim Resources (OTCQX; TRMNF; TSX-V: TRM) has engaged SRK Consultants to undertake a structure review and to offer technical assistance with respect to the Company’s recently announced 8,000 metere drill program. The structural review will facilitate locating the auriferous breccia while the technical assistance will confirm the targeting of drillholes so that their spacing will allow for the preparation of an NI43-101 compliant mineral resource.
Trueclaim’s management team, with whom we met over the weekend in Vancouver, could not be more optimistic and excited about developing the Scadding property. We look for lots of news flow over the next six months.
Trueclaim Exploration (OTCQX: TRMNF; TSX-V: TRM) has started its 8,000 metre, Phase 2 drill program on its Scadding Gold Property, the purpose of which is to expand prior drill programs, confirm continuity of mineralization, and acquire information sufficient to complete a NI 43-101 compliant technical report.
In November and December, the Company completed a 2,000 metre drill program, including 5 holes at the Scadding minesite area, which tested certain areas of limited information. In addition, the use of 3-D modeling of both historic and current drill data has helped the Company more fully evaluate and understand the mineralized zones. Trueclaim is the first to evaluate the property in this manner, which will most certainly help guide future drilling.
Trueclaim Exploration (OTCQX: TRMNF; TSX-V: TRM) raised $1.25 million in flow through financing through the issuance of units priced at $0.26 per unit. Each unit consists of one common share and one half common share purchase warrant. Each full warrant will have a term of 18 months and an exercise price of $0.40.
Trueclaim Exploration (OTCQX: TRMNF; TSX-V: TRM) entered into a memorandum of understanding with the Wahnapitae First Nation with respect to the Company’s mineral exploration, mineral development, and closure of operations on the part of the Scadding property that lies within the Wahnapitae Nation Traditional Territory.
Trueclaim Exploration (OTCQX: TRMNF; TSX-V: TRM) will be featured in an upcoming Today in America episode on “Making the Right Investment in Volatile Times.” Today in America is an informative and educational television series hosted by award-winning broadcaster and former NFL quarterback Terry Bradshaw.
The five-minute segment will be filmed on location at Trueclaim’s Scadding Gold Property in Sudbury, Ontario and is expected to air in 2011 nationally on FOX Business Network and regionally on CNN Headline News. The segment will also feature on-camera interviews with John Carter, President of Trueclaim, and other members of the Trueclaim team.