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Triumph Gold Corp (2)
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Triumph Gold drills seven m of 15 g/t Au at Revenue

2017-11-15 08:14 ET - News Release

Mr. John Anderson reports

TRIUMPH GOLD ANNOUNCES DISCOVERY OF HIGH-GRADE GOLD IN LEAST-EXPLORED PORTION OF THE REVENUE DEPOSIT INCLUDING A 7-METRE INTERVAL GRADING 15.0 GRAMS/TONNE GOLD

Exploration drilling in an underexplored portion of Triumph Gold Corp.'s Revenue soil anomaly intersected high-grade gold mineralization in granite south of the Revenue diatreme. Highlights from diamond drill hole RVD17-14 include:

  • Visible gold over a five-metre interval (129 to 134 m);
  • Contained within a seven-metre interval (129 to 136 m) of gold-silver-copper mineralization with a length*** weighted grade of 15.0 grams/tonne (g/t) gold (see below);
  • Including a one-metre interval (129 to 130 m), reassayed three times, grading between 45.0 and 81.3 g/t gold.

The drill hole was collared in the immediate catchment of a renowned placer creek (Revenue Creek), and the mineral association, coarse gold with bismuthinite, is the same as the placer gold.

RVD17-14 (see attached table) was drilled within a 1.2- by 0.5-kilometre multielement, gold-rich, soil anomaly on a broad ridge that separates Whirlwind Pup and Revenue Creeks on the southern side of the Revenue diatreme. It is in the immediate catchment of the Revenue Creek placer gold deposit, renowned for having had one of the most gold-rich channels in the Dawson Range. Historical exploration within the anomaly documented two gold showings, suggesting that the entire area is prospective for high-grade lode gold, and may be the source for much of the abundant placer gold found in Revenue Creek:

  • The Klaus zone which is immediately above the historical (preplacer mining) confluence of Whirlwind Pup and Revenue Creek;
  • The Guder zone, which is approximately 400 metres past the confluence, up the ridge to the south.

Historical assay results for the two zones are noted below and in the attached table.

RVD17-14, the first modern drill hole in the area, was collared in the Guder zone, 200 metres away from any historical trenching or drilling, within an outstanding and previously untested portion of the gold-in-soil anomaly, which includes four high-grade samples (3.37 g/t, 2.26 g/t, 0.83 g/t and 0.88 g/t). The drill hole intersected a seven-metre-long interval (129 to 134 m) of strong gold-silver-copper mineralization with gold disseminated within intergrown pyrite-arsenopyrite-chalcopyrite-bismuthinite and carbonate veins. The interval includes a five-metre section with visible gold.

The tenor of gold mineralization in RVD17-14 is high as confirmed by repeated assay results, however, the results indicate a pronounced nugget effect. To reduce the nugget effect the attached table includes the averaged results from repeat fire assays (with gravimetric finishes for Au over 10 g/t). See the bottom of the news release for a table of all gold results from the high-grade interval.

For location maps and photographs of visible gold in core see Triumph Gold's website.


      RESULTS FROM HIGH-GRADE GOLD INTERCEPT IN RVD17-14

  From        To    Length                Au      Ag        Cu
    (m)       (m)       (m)***          (g/t)   (g/t)       (%)

129.00    130.00      1.00             63.67    21.4     0.006 
130.00    130.88      0.88              2.85     0.6     0.002 
130.88    132.00      1.12              0.92     2.8     0.204 
132.00    134.00      2.00              5.03     6.1     0.067 
134.00    136.00      2.00              2.74     6.6     0.208 
Length weighted average over seven m   15.04     7.2     0.113 


  

Historical exploration in the vicinity of RVD17-14

The 1.2 by 0.5 km soil anomaly between Whirlwind Pup and Revenue Creek has seen less drilling that any other area near the Revenue diatreme. Limited historical exploration documented significant concentrations of gold in the Klaus and Guder zones (Main and Duke 1987), including:

  • Trench samples in the Klaus zone grading up to 32.98 g/t Au over 20 centimetres; 14.3 g/t over one m and 3.67 g/t over one m;
  • Trench samples in the Guder zone grading up to 20.24 g/t Au over 6.1 m;
  • High-grade gold in drill intersections from the Guder zone (see attached table).

          HISTORICAL DRILL INTERSECTIONS IN THE GUDER ZONE
  
            From        To    Length           Au       Ag            Cu
              (m)       (m)       (m)***     (g/t)    (g/t)           (%)

GRS84-09   51.82     53.34       1.52      24.858      4.3    Not tested
Including  51.82     52.73       0.91      39.086      6.2    Not tested
GRD68-05   80.16     81.38       1.22      11.657      69.3        6.800     
GRD69-01   38.22     39.60       1.38       5.486     37.03        1.680     


  

Other notable intersections in RVD17-14

In addition to the high-grade gold intersection in RVD17-14 there were also two other notable mineralized intervals (see attached table):

  • 29.79 metres (185.00 to 214.79 m) of 0.46 g/t AuEq* in rocks with polyphase porphyry veining and potassic alteration at the contact between granite country rock and the Revenue diatreme;
  • Six metres (331.00 to 337.00 m) of 0.73 g/t AuEq* in sulphide-matrix hydrothermal breccia within the Revenue diatreme.

The 29.79 metres of porphyry mineralization on the margin of the diatreme add to the body of evidence (see PR17-12, PR17-13) that show a broad, at least 2.85 km long, mineralized porphyry at Revenue, which is cored, and crosscut, by the Revenue diatreme.

       FULL TABLE OF SIGNIFICANT RESULTS -- GUDER ZONE DIAMOND DRILLING 2017; 
                           MO -100 PPM NOT REPORTED
  
  
             From        To   Length      Au      Ag       Cu       Mo    AuEq*   CuEq*
Hole No.       (m)       (m)      (m)   (g/t)   (g/t)      (%)      (%)   (g/t)     (%)

RVD17-14   129.00    136.00     7.00  15.044     7.2    0.113            15.32    9.41      
And        185.00    214.79    29.79   0.150    3.22    0.122    0.013    0.46    0.28      
And        331.00    337.00     6.00   0.079     4.4    0.367             0.73    0.45      
RVD17-15   No significant assay results


  

Paul Reynolds, Triumph Gold's president and chief executive officer, comments: "We have only just begun to explore this highly prospective area, which hasn't been drilled since 1984, and with our very first hole we intersected the highest-grade gold ever found at Revenue. The discovery of coarse gold in RVD17-14 is especially compelling because of its location in the headwaters of Revenue Creek, one of the Dawson Range's most renowned placer creeks."

Notes:

* Copper and gold equivalent (CuEq, AuEq) are used for illustrative purposes, to express the combined value of copper, gold, silver and molybdenum as a percentage of either copper or gold. No allowances have been made for recovery losses that would occur in a mining scenario. CuEq and AuEq are calculated on the basis of $3.10 (U.S.) per pound of copper, $1,305 (U.S.) per troy ounce of gold, $17.40 (U.S.) per troy ounce of silver and $7 (U.S.) per pound of molybdenum oxide.

*** Length refers to drill hole intercept. True widths have not been determined.

Full table of gold analyses

Each of the five high-grade gold samples reported from RVD17-14 (129 to 136 m) underwent two sets of fire assay (see attached table) analyses and an additional metallic screen analysis (see attached table).


    TABLE OF ALL GOLD ASSAY AND RE-ASSAY RESULTS FOR SAMPLES I026906 -- I026912 
                (RVD17-14, FROM 129 M TO 136 M)  
  
                                                                        Avg. of
                                                 Test 1         Test 2    tests Test 3
          From      To  Length ***   FA1     FA2     GF      FA     GF  1 and 2     MS    
Sample      (m)     (m)     (m)     (g/t)   (g/t)  (g/t)   (g/t)  (g/t)    (g/t)  (g/t)

I026906 129.00  130.00    1.00     +10.0   +10.0   81.3   +10.0   47.2    63.67   45.0  
I026908 130.00  130.88    0.88      4.00    1.32           3.04            2.85   2.15  
I026910 130.88  132.00    1.12      1.01    1.55           0.57            0.92   2.15  
I026911 132.00  134.00    2.00      6.62    8.98          +10.0   2.27     5.03   5.84  
I026912 134.00  136.00    2.00      2.35    1.58           3.52            2.74   2.36  

FA: fire assay
GF: FA with gravimetric finish
MS: metallic screen technique

Note: The average of tests 1 and 2 are calculated by first averaging test 1 FA1 and FA2, 
      and then averaging that result with test 2.


  

Methods and qualified person

Drill core samples ranged between one- and two-metre length and were cut at Triumph's core logging facility on the Freegold Mountain property. The samples were analyzed by ALS Global of North Vancouver, B.C. They were prepared for analysis according to ALS method PREP35: each sample was crushed to 70 per cent passing two millimetres and a 250-gram split was pulverized to better than 95 per cent passing 106-micron mesh. Gold was tested by fire assay with atomic absorption finish on a 30 g nominal sample (method Au-AA23), and samples that tested over 10 g/t Au were retested using fire assay with a gravimetric finish (method Au-GRA21). An additional 35 elements were tested by ICP-AES using an aqua regia digestion (method ME-ICP41), overlimit samples for copper were retested using the same technique but with assay grade aqua regia digestion and a higher range of detection (method ME-OG46). Quality assurance and quality control (QA/QC) are maintained at the lab through rigorous use of internal standards, blanks and duplicates. An additional QA/QC program was administered by Triumph Gold: at minimum one in 10 samples submitted by Triumph Gold was a blank or certified reference standard. QA/QC samples that returned unacceptable values triggered investigations into the results and reanalyses of the samples that were tested in the batch with the failed QA/QC sample. Where contamination or analytical error were suspected the original data were discarded and superseded by the results of the reanalyses.

The five samples reported in the attached table were part of a 19-sample batch that included six QA/QC samples. The samples were delivered by Triumph Gold personnel directly to the ALS prep lab in Whitehorse. All of the samples were tested by the methods discussed in the previous paragraph and the five samples listed in the attached table were also tested using the gold screen metallic technique (method Au-SCR24). For this technique the sample was prepared by passing up to 1,000 g of pulp though a 100-micron mesh and testing both the material that passed through the screen (minus fraction) and the material that remained on the screen (plus fraction). The entire plus fraction was tested by fire assay with a gravimetric finish, and the minus fraction was homogenized and two 50 g splits were tested by fire assay with AAS finish and the results were averaged. The gold values of the plus and minus fractions were combined in a weighted average to give the total gold content of the sample.

Some technical information contained in this release is historical in nature and has been compiled from sources believed to be accurate. This technical information has not been verified by Triumph Gold and may in some instances be unverifiable.

The technical content of this news release has been reviewed and approved by Tony Barresi, PhD, PGeo, vice-president of exploration for the company, and qualified person as defined by National Instrument 43-101.

Reference

C.A. Main, J.L. Duke (1988): revenue trenching and geophysics. Assessment report No. 092131, Yukon Department of Energy, Mines and Resources.

About Triumph Gold Corp.

Triumph Gold is a growth oriented Canadian-based precious metals exploration and development company. Triumph Gold is focused on creating value through the advancement of the district scale Freegold Mountain project in Yukon.

We seek Safe Harbor.

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