OVERVIEW
TRU is exploring the Golden Rose Project, a 273.5 km, large and prospective early-stage gold and copper prospect in Newfoundland, hosting over 45km of strike length that is highly prospective for gold and copper mineralisation.
Newfoundland is a jurisdiction which is ranked by the Fraser Institute as the most attractive for mining investment in Atlantic Canada and the ninth most attractive worldwide.
Golden Rose is bookended by two gold projects with reported resources. AuMEGA Metal (formerly Matador Mining)s’ Cape Ray Shear Zone Project to the southwest of Golden Rose contains 0.6 million ounces of Indicated and Inferred resources, while Calibre Mining to the northeast is in the advanced development and pre-construction phase of the Valentine Gold Project, holding 5 million ounces of Measured, Indicated and Inferred resources with a projected annual production rate of 190,000 ounces of gold. Earlier this year, Calibre Mining completed the acquisition of the project for CA$345 million in a timely illustration of the kind of opportunity Ormonde believes exists for Golden Rose.
EXPLORATION
In addition to establishing several high-quality, high-grade, drill-ready gold targets on Golden Rose, exploration activities by TRU over the past three years have also identified copper and other critical mineral anomalies at numerous locations, the potential of which are being further investigated in the field in summer 2024.
TRU has also scoped a drill programme for its gold prospects across Golden Rose and is assessing the most advantageous time to undertake the programme.
Ormonde’s technical team is closely involved in analysing exploration targets at Golden Rose.
PROJECT INFO
Ormonde interest: 36.2%
Project(s): Golden Rose Project, Newfoundland, CANADA
Metal(s): Gold, Copper
Website: www.trupreciousmetals.com
