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Triumph Gold Corp (2)
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Triumph Gold chip samples 2.21 g/t Au over 1.5 m

2017-11-20 09:40 ET - News Release

Mr. Paul Reynolds reports

TRIUMPH GOLD ANNOUNCES DEFINITION OF A 1.8 X 0.75 KM SOIL ANOMALY ALONG STRIKE OF THE TINTA AU-AG DEPOSIT AND DISCOVERY OF GOLD BEARING QUARTZ VEINS IN SIX TRENCHES OVER 700 METRES STRIKE LENGTH WITHIN THE ANOMALY

Triumph Gold Corp.'s recent soil sampling has defined a 1.8 kilometre by 0.75 km multielement (gold, copper, lead, zinc, arsenic, bismuth and anitmony) soil anomaly, extending the Tinta gold-silver vein system to the northwest. The anomaly is northwest-southeast trending, open to the northwest and begins 500 metres northwest, along strike, of the Tinta Au-Ag-Cu-Pb-Zn deposit in an area tested by only one historical drill hole. Six of seven trenches dug over 700-metre strike length within the anomaly uncovered multiple clay-altered or silicified zones up to 2.6 metres wide that contain strongly weathered quartz-chalcedony-carbonate-sulphide vein networks. Sulphide contents are highly variable due to surface weathering and boxwork after leached sulphides are common. Where sulphides are preserved they include up to 15 per cent coarse pyrite and variable amounts of galena, sphalerite and chalcopyrite. Highlights of exploration at Tinta include:

  • A 1.8 km long multielement soil anomaly, open to the northwest, along strike of the Tinta Au-Ag deposit has been defined.

The anomaly has a higher concentration of samples with elevated pathfinder elements (As, Sb, Bi) than the area surrounding the Tinta vein deposit and a similar concentration of samples with elevated gold, but over an area twice the size.

Within the 1.8 km long soil anomaly, a 700-metre-long section was tested with seven trenches. Six exposed multiple clay-altered or silicified zones with mineralized quartz-chalcedony-carbonate-sulphide vein networks. Highlights of assay results include:

  • 2.21 grams per tonne Au and 11.3 g/t Ag over 1.5 m in a chip sample from trench 3;
  • 0.666 g/t Au and 13.7 g/t Ag over 1.5 m in a chip sample from trench 3;
  • 1.9 g/t Au and 40.9 g/t Ag in a grab sample from trench 4;
  • 4.9 g/t Ag, 1.5 per cent Zn and 0.4 per cent Pb in a grab sample from trench 4;
  • 0.793 g/t Au and 3.7 g/t Ag over 0.4 m in a chip sample from trench 5.

Exploration in the vicinity of the Tinta vein deposit in 2016 comprised a 1.1-square-kilometre (414 sample) soil geochemistry grid and VLF-EM (very-low-frequency electromagnetic) and magnetic geophysical surveys covering nine square kilometres. These surveys defined a number of coincident multielement soil and geophysical anomalies, the most prominent of which was along strike of the Tinta Au-Ag-Cu-Pb-Zn deposit (see news release dated Feb. 27, 2017), which has an inferred resource of 2.16 million tonnes grading 1.89 g/t Au, 54.9 g/t Ag, 0.27 per cent Cu, 0.99 per cent Pb and 1.41 per cent Zn (Dec. 15, 2014). Follow-up exploration in 2017 included:

  • An expanded soil geochemistry grid with 993 samples collected over eight square kilometres;
  • 560 metres of excavator trenching within the coincident anomalies defined by the 2016 survey.

The 2017 soil grid expanded the length of the 2016 soil anomaly from 900 metres to 1,800 metres. In addition, the 2017 soil survey covered the area around the Tinta vein to provide a better basis for comparison between geochemistry of soils in the new anomaly and soils surrounding the existing deposit.

The 2017 trenches uncovered granite with numerous broad hematite-epidote-chlorite-altered intervals, the same host rock and alteration that surround productive veins in the Tinta deposit. Within these zones there are multiple discrete strongly weathered, clay-altered or silicified zones up to 2.6 metres wide that contain quartz-chalcedony-carbonate-sulphide vein networks that appear to be hosted in faulted zones which are parallel to the Tinta vein trend; similar zones are also observed in the Tinta deposit. The trenches were mapped and sampled; a total of 92 samples were collected including 18 grab samples and 73 chip samples (collected over 107.2 metres). The associated table contains significant results from the trench sampling and a figure available on the company's website shows the locations of the trenches and samples.

The data in the associated table represent highlights of 2017 trench sampling that included 18 grab and 73 chip samples.

 SIGNIFICANT ASSAY RESULTS FROM TRENCHING WITHIN THE TINTA EXTENSION SOIL ANOMALY

Trench     From      To   Length   Sample      Au      Ag      Cu      Pb      Zn
             (m)     (m)      (m)    type    (ppm)   (ppm)   (ppm)   (ppm)   (ppm)

TT17-01   16.00   18.00     2.00     Chip   0.177    36.9      31     234     139
TT17-02                                              No significant assay results          
TT17-03   12.00   13.50     1.50     Chip   2.210    11.3     232     117     269
TT17-03   74.00       -        -     Grab   0.759     7.1      69     246     504
TT17-03   75.50   77.00     1.50     Chip   0.666    13.7     700     815     911
TT17-04    2.70       -        -     Grab   1.900    40.9      99     910     199
TT17-04    3.50       -        -     Grab   0.100    15.3   1,785   1,810   1,760
TT17-05   24.40       -        -     Grab   0.194     6.2      91     714     519
TT17-06   21.50       -        -     Grab   0.400    25.5     229     451     201
TT17-06   30.00       -        -     Grab   0.171    15.3      77      50      94
TT17-06   71.50   72.50     1.00     Chip   0.022     1.1      16     734   1,910
TT17-06   73.00       -        -     Grab   0.068     4.9      97   4,020   1,505              
TT17-07   18.00       -        -     Grab   0.050     9.2   1,045   1,885   2,500
TT17-07   20.10   20.50     0.40     Chip   0.793     3.7     905      47     448
TT17-07   20.30       -        -     Grab   0.891     4.5      62   1,550      50

Historical drilling within the newly defined soil anomaly is limited to a single 152 m diamond drill hole (TH07-06), which was collared between trench 4 and trench 6. The drill hole was not well situated to test the mineralized structures identified in 2017 trenches, but it did intersect two approximately 50 centimetre quartz veins surrounded by networks of quartz-calcite stringers. Assay results include 0.355 g/t Au and 5.9 g/t Ag over 1.1 m (45.06-46.16 m) and 0.310 g/t Au and 12.7 g/t Ag over 0.45 m (40.8-41.25 m).

Discussion of results

Results from the 2016 and 2017 soil sampling surveys show a strong multielement anomaly along strike of the Tinta vein deposit, with an approximately 500-metre gap between the vein and the newly defined 1.8 km long anomaly. The geological model of a pinching and swelling vein structure may adequately explain the absence and then reoccurrence of the soil anomaly along strike of the Tinta vein. The new soil anomaly covers twice the area of the one defined around the Tinta vein. It has a greater concentration of samples with elevated gold pathfinder elements (As, Sb and Bi) and similar concentration of samples with elevated gold compared with the samples surrounding the Tinta vein. The geochemical signature within the new anomaly is suggestive of a higher-level portion of the vein which may be more prospective for precious metals.

Trenching within the soil anomaly tested less than half of the total length of the anomaly, and uncovered altered, veined and mineralized rock in six of seven trenches. Trench 2, which did not uncover mineralized rock, is interpreted to have been dug too far to the southwest to have encountered the same mineralized structures identified in the other trenches. Mineralization in the trenches is associated with faulted alteration zones, which are also observed in the Tinta deposit. Sulphide leaching has likely reduced the overall base metal grades of the trench samples.

President's comment

Paul Reynolds, Triumph Gold's president and chief executive officer, commented: "The Tinta Au-Ag deposit is one of Triumph Gold's higher-grade and underexplored resources. Identifying an along-strike soil anomaly that is twice the size of the anomaly surrounding the current resource area is very exciting. If it is an extension of the Tinta vein system, it could dramatically affect the size of the resource. We look forward to testing the new anomaly with more trenching and follow-up drilling in 2018 and exploring to the northwest where the anomaly remains open."

Methods and qualified person

Soil samples were collected at predetermined locations identified using a global positioning system. Samples were collected from B-horizon, or below the top layer of volcanic ash where B-horizon could not be sampled. The samples were characterized, dried and delivered to ALS Minerals Preparation Laboratory in Whitehorse. Samples were analyzed by ALS Global of North Vancouver, B.C., using Au-ST43 (supertrace Au determination via 25.0 g aqua-regia digestion and ICP-MS analysis) and ME-MS41 (51-element analysis via 0.5 g aqua-regia digestion and ICP-MS analysis).

Trench samples were collected from locations determined by a global positioning system. 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 (QAQC) are maintained at the lab through rigorous use of internal standards, blanks and duplicates.

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 reported geochemical sampling program was carried out by TerraLogic Exploration Inc. under the supervision of Michael McCuaig, PGeo. The reported trenching program was conducted under the supervision of Jesse Halle, PGeo. The technical content of this news release has been reviewed and approved by Tony Barresi, PhD, PGeo, vice-president, exploration, for the company, and qualified person as defined by National Instrument 43-101.

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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