VANCOUVER, British Columbia, Sept. 20, 2018 (GLOBE NEWSWIRE) — Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: TIGCF) (“Triumph Gold” or the “Company”) is pleased to announce the September 15th start of a geophysical program on its road accessible, 100% owned, Freegold Mountain property. The geophysical program encompasses the entire length of a multi-element soil anomaly that surrounds the Blue Sky, Revenue and Nucleus areas (Figure 1). The program is being conducted by SJ Geophysics and will include resistivity (DC), induced polarization (IP), magnetotelluric (MT), and ground magnetic surveys. The configuration of the IP survey is designed to provide data to a depth of 700 metres and the MT survey extends the depth of investigation to approximately 1,200 metres. The DC, IP and MT surveys will cover approximately 30 line-kilometres, with three 7 km long lines running the length of the soil anomaly from NW to SE, and three approximately 3 km long lines running across the Blue Sky Zone in a N-S orientation (Figure 1). The survey is expected to be complete by October 5 and will require several weeks for further data processing before final results will be delivered to the company.
Follow Hyperlink to Figure 1.
Age dating by the Mineral Deposit Research Unit (UBC), Yukon Geological Survey and other researchers has demonstrated that the newly discovered high-grade, gold-rich mineralization in the Blue Sky Zone (e.g. 316 m of 1.79 g/t AuEq* in RVD18-19, PR18-09) and WAu breccia (e.g. 128m of 1.27 g/t AuEq* in RVD18-08, PR18-07), as well as epithermal gold mineralization in the Nucleus area, are at least 30 million years younger than their host rocks. Therefore, the intrusive bodies, which are the cause of the mineralization, have yet to be discovered. The geophysical surveys are designed to test for an underlying intrusion that was a driver for the widespread and intense hydrothermal systems responsible for the near-surface mineralization. The surveys extend across, and up to 500 metres beyond, the full length of the six kilometre soil anomaly that encompasses the Blue Sky Porphyry, WAu breccia, Revenue, Nucleus, and numerous other showings. The length of the survey lines (7 km), and the dipole spacing (200 or 300 m), are optimized to test beneath the known, at- or near-surface zones of mineralization, to relate them to an underlying and potentially well mineralized source.
Tony Barresi, Triumph Gold Corp’s Vice President of Exploration comments: “This year’s discovery of very high-grade gold-rich porphyry style mineralization in the Blue Sky Zone has reinforced our hypothesis that the entire 6 kilometre long Revenue-Nucleus area soil anomaly is underlain by a buried causative intrusion that is responsible for all of the near-surface mineralization. If the size and pervasiveness of mineralization near surface is any indication, there could be something exceptionally large and well mineralized at depth. These geophysical surveys will be first order exploration tools as we embark on an elephant hunt.”
* Gold equivalent [AuEq], and copper equivalent [CuEq] are used for illustrative purposes, to express the combined value of gold, silver, molybdenum and copper as a percentage of gold or copper. No allowances have been made for recovery losses that would occur in a mining scenario. AuEq and CuEq are calculated on the basis of US$3.00 per pound of copper, US$16.00 per pound of molybdenum, US$1,250 per troy ounce of gold and US$16.00 per troy ounce of silver.
** Coordinates are given in North American Datum 83 (NAD83), Zone 8.
The technical content of this news release has been reviewed and approved by Tony Barresi, Ph.D., P.Geo., VP Exploration for the company, and qualified person as defined by National Instrument 43-101.
About Triumph Gold Corp.
Triumph Gold Corp. is a growth oriented Canadian-based precious metals exploration and development company. Triumph Gold Corp. is focused on creating value through the advancement of the district scale Freegold Mountain project in Yukon. For maps and more information, please visit our website www.triumphgoldcorp.com
On behalf of the Board of Directors
Signed “Paul Reynolds”
Paul Reynolds, President & CEO
|For further information please contact:
John Anderson, Executive Chairman
Triumph Gold Corp.
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This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.