VANCOUVER, British Columbia, Aug. 23, 2018 (GLOBE NEWSWIRE) — Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: TIGCF) (“Triumph Gold” or the “Company”) is pleased to announce the delineation of gold-rich porphyry-style mineralization in the Blue Sky Zone on their 100% owned, road accessible, Freegold Mountain Property in the Yukon Territory. Highlights from the first three drill holes to intersect the zone in 2018 include:
- RVD18-17 with 125.13 metres of 1.24 grams per tonne (g/t) gold, 7.0 g/t silver, 0.31% copper and 0.01% molybdenum contained within 202.10 metres of 0.87 g/t gold, 5.8 g/t silver, 0.26% copper and 0.01% molybdenum (287.00 – 489.10m).
- RVD18-16 with 94.50 metres of 1.53 g/t gold, 5.8 g/t silver, 0.28% copper and 0.01% molybdenum (170.50 – 265.00m).
- RVD18-05 with 149.26 metres of 0.30 g/t gold, 2.5 g/t silver, 0.15% copper and 0.02% molybdenum (375.00 – 524.26m), which bottomed in the highest grade portion of the intersection with 39.51 metres of 0.68 g/t gold, 5.0 g/t silver, 0.25% copper, and 0.03% molybdenum (484.75 – 524.26m).
Table 1 – Blue Sky Porphyry Diamond Drill Intercepts, 2018
Since 2016, Triumph Gold’s exploration has been focused on the six-kilometre-long intense multi-element soil and geophysical anomaly that encompasses the Revenue and Nucleus deposit areas. Within the anomaly, the Blue Sky Zone covers a broad area extending 2.3 kilometres east of Revenue to the eastern margin of the anomaly. It was drill tested in 2017 with significant intersections made in RVD17-13 (57 metres of 1.08 g/t gold, 6.6 g/t silver, 0.285% copper and 0.01% molybdenum from 121.00m) and RVD17-01 (94.38 metres of 0.34 g/t gold, 3.9 g/t silver, 0.17% Cu and 0.02% molybdenum from 369.62m) (see PR17-13, Nov. 2, 2017). The 2018 drill holes were designed as follow-up to the successful exploration conducted in 2017. RVD18-05, RVD18-16, and RVD18-17 were drilled roughly perpendicular to RVD17-01 and RVD17-13 and together they delineate high-grade, gold-rich mineralization over a 180 metre area that is open in all directions and to depth. It is contained within an at least 3.6 kilometre long zone of porphyry mineralization that extends from the Happy Creek showing (290 metres of 0.29 g/t AuEq in RVD17-09, see PR#17-13, dated Nov. 2, 2017) to the Keirsten Zone (100 metres of 0.31 g/t AuEq in KZ18-01, see PR#18-07, dated July 21, 2018) (Figure 1 – inset), and includes RVD11-22 located 250 metres to the SW of the high grade intersections in the Blue Sky Zone (238.10 metres of 0.31 g/t gold and 0.13% copper).
Figure 1 Highlights the location of the 2018 drill intersections in the context of the Revenue-Nucleus magmatic-hydrothermal system.
Figure 2 shows the intersections in cross section.
Photographs of core from the new intersections can be found on the Triumph Gold Corp. website:
Geology of the Blue Sky Porphyry
Mineralization associated with the Blue Sky Porphyry is hosted in the Mid-Cretaceous Revenue granite and in late-syn-mineral quartz-feldspar-porphyry dykes. It consists of chalcopyrite and molybdenite in quartz veins, hydrothermal breccia matrix, and disseminated in hydrothermally altered granite and quartz-feldspar porphyry dykes. The most intense mineralization is associated with strong potassic (K-feldspar grading outwards into biotite) alteration. A set of late quartz-carbonate veins are concentrated within the main mineralized zone and contain variable amounts of chalcopyrite, molybdenite, galena, sphalerite, bismuthinite, and visible gold. The porphyry is gold-rich throughout, but the late quartz-carbonate veins represent an important second stage of gold enrichment.
Ongoing Exploration of the Blue Sky Zone
Triumph Gold has allocated significant resources to the Blue Sky Zone to continue exploration of the gold-rich porphyry system.
- An additional seven drill holes have been completed to test the extent and geometry of the Blue Sky Porphyry. The results will be reported separately once they have been received and checked for quality.
- Crews are currently upgrading the soil grid and conducting trenching within the Blue Sky Zone.
- A deep penetrating induced polarization (IP) and infill ground magnetic surveys are being planned for the fall.
The compiled results from 2018 drilling, new soil grid, trenching and geophysics will allow Triumph Gold’s technical team to plan a robust follow-up program of exploration to define a resource on the Blue Sky Zone in 2019.
Paul Reynolds, Triumph Gold’s President and CEO comments, “Triumph’s exploration team continues to have incredible success drilling the Blue Sky Porphyry, which was discovered last season. With these new intersections we have begun to delineate a high grade gold-rich core to the system, which is open in all directions and to depth. We will focus on extending the mineralized envelope and defining a resource. We are also applying the same exploration strategies that led to discovery of the Blue Sky Porphyry across the 200 square kilometre area of the Freegold Mountain Property. This is a truly exciting period for the company.”
Table 2 – Location and Orientation of Drill Holes at the Blue Sky Zone, 2018
|Drill Hole||Easting**||Northing**||Azimuth||Inclination||Total Depth (m)|
* 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.
*** Length/interval refer to drill hole intercept. True widths have not been determined.
Methods and Qualified Person
Drill core samples ranged between 1 and 2 metres length and were cut at Triumph’s core logging facility on the Freegold Mountain Property. The samples were analyzed by SGS Canada of Vancouver, British Columbia. They were prepared for analysis according to SGS method PRP89: each sample was crushed to 75% passing 2mm and a 250g split was pulverized to better than 85% passing 75 micron mesh. Gold was tested by fire assay with atomic absorption finish on a 30g nominal sample (method GE FAA313), and samples that tested over 10 g/t Au were retested using 50g screened metallics (GO FAS50M), which uses a combination of AAS, ICP-AES and gravimetric finishes to determine gold contained in both a fine and coarse fraction after being sieved through 106 mesh. An additional 35 elements were tested by ICP-AES using a four-acid digestion (method GE ICP40B), over limit samples for copper were retested using the same technique but with assay grade four acid digestion and a higher range of detection (method GA AAS42S). Quality assurance and control (QAQC) is maintained at the lab through rigorous use of internal standards, blanks and duplicates. An additional QAQC program was administered by Triumph Gold: at minimum three quality control samples, consisting of blanks, certified reference standards and duplicates, are blindly inserted into each 75 sample batch. QAQC samples that return unacceptable values trigger investigations into the results and reanalyses of the samples that were tested in the batch with the failed QAQC sample.
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.
IR Pro Communications Inc.
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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.