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Triumph Gold Corp (2)
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Triumph Gold drills 1.5 m of 18.5 g/t Au at Freegold

2018-01-18 08:44 ET - News Release

Mr. Paul Reynolds reports

TRIUMPH GOLD REPORTS RESULTS FROM DIAMOND DRILLING OF THE NUCLEUS AU-AG-CU DEPOSIT, FREEGOLD MOUNTAIN PROPERTY, YUKON

Triumph Gold Corp. has provided the results from 4,685 metres of diamond drilling in 16 holes targeting the Nucleus gold-silver-copper deposit area on the Freegold Mountain property, Yukon territory. Highlights from the drill campaign include the following.

Three high-grade gold intersections:

  • 18.5 grams per tonne (g/t) Au over 1.5 metres in N17-02 (174.50 to 176.00 m);
  • 11.35 g/t Au and 7.3 g/t silver over 1.44 metres in N17-07 (132.46 to 133.90 m);
  • 10.2 g/t Au over 1.1 metres in N17-12 (111.00 to 112.10 m).

Six infill drill holes tested underexplored portions of the Nucleus resource area where there are significant gaps in the current resource block model. Each intersected zones of gold mineralization with grades that exceed the deposit average (0.544 g/t Au at a 0.3 g/t gold equivalent* (AuEq) cut-off), including:

  • 21.9 metres of 1.545 g/t Au in N17-02 (173.1 to 195.00 m);
  • 42.14 metres of 0.799 g/t Au and 0.137 per cent copper in N17-03 (47.86 to 90.00 m);
  • 11.14 metres of 2.696 g/t Au in N17-07 (126.86 to 138.00 m);
  • 17.73 metres of 1.797 g/t Au in N17-12 (99.00 to 116.73 m);
  • 30.00 metres of 0.701 g/t Au also in N17-12 (212.00 to 242.00 m).

Five stepout drill holes that tested for extensions of Nucleus mineralization to the north, south and east of the current resource area intersected zones of gold mineralization that exceed the 0.3 g/t AuEq* cut-off grade of the deposit including:

  • 12.00 metres of 1.005 g/t Au in N17-01 (165.00 to 177.00 m);
  • 29.20 metres of 0.485 g/t Au and 0.185 per cent Cu in N17-06A (66.80 to 96.00 m).

N17-10, which tested a previously undrilled 1.0- by 0.7-kilometre chargeability anomaly that lies north of the current Nucleus resource, bottomed in mineralization:

  • 21.53 metres of 0.513 g/t Au (453.00 to 474.53 m) including 9.53 metres of 1.089 g/t Au (465.00 to 474.53 m).

Highlights of the drill program noted above are in the attached table along with a full list of significant results.

DEPTH OF 2017 DIAMOND 
 DRILL HOLES TESTING  
   THE NUCLEUS AREA
  
  
Hole No. Depth (m)

N17-01     283.46
N17-02     260.60
N17-03     260.28
N17-04     260.60
N17-05      279.2
N17-06A     97.54
N17-06B    419.08
N17-07     259.08
N17-08     272.49
N17-09      260.6
N17-10     474.53
N17-11     269.75
N17-12      260.6
N17-13     275.84
N17-14     490.73
N17-15      260.6


  

 SIGNIFICANT RESULTS FROM 2017 DRILLING AT NUCLEUS
  
Hole ID     From     To  Int.**       Au   Ag    Cu   
               m      m     m        g/t  g/t     %    
Infill drilling                               
N17-02     46.12  57.91 11.79      1.086  0.1 0.016
N17-02    173.10 195.00 21.90      1.545  1.0 0.099
Including 174.50 176.00  1.50     18.500  1.3 0.164
N17-03     47.86  90.00 42.14      0.799  1.3 0.137
N17-03    155.65 169.00 13.35      0.731  1.3 0.079
N17-04     52.00  75.00 23.00      0.670  0.7 0.057
N17-05    188.00 206.30 18.30      0.820  0.8 0.080
N17-07    126.86 138.00 11.14      2.696  2.7 0.077
Including 132.46 133.90  1.44     11.350  7.3 0.200
N17-12     99.00 116.73 17.73      1.797  2.1 0.046
Including 111.00 112.10  1.10     10.200  0.7 0.030
N17-12    212.00 242.00 30.00      0.701  1.0 0.059
Stepout/extension drilling                 
N17-01     24.38  39.00 14.62      0.969  1.7 0.046
N17-01    165.00 177.00 12.00      1.005  0.6 0.045
N17-06A    42.00  51.00  9.00      0.781  6.5 0.323
N17-06A    66.80  96.00 29.20      0.485  2.0 0.185
N17-06B  no significant assay results         
N17-08     95.50 109.00 13.50      0.606  2.9 0.070
N17-09     38.00  59.50 21.50      0.159  1.9 0.208
N17-11   no significant assay results         
N17-13    157.50 207.00 49.50      0.381  0.8 0.048
Drilling of reconnaissance exploration targets
N17-10    453.00 474.53 21.53      0.567  0.5 0.022
Including 465.00 474.53  9.53      1.089  0.4 0.017
N17-14   no significant assay results         
N17-15   no significant assay results         


  

The Nucleus Au-Ag-Cu deposit is the most advanced exploration target on the Freegold Mountain property. It consists of polyphase quartz-chalcopyrite-pyrite-arsenopyrite veins, infill breccia and semi- to massive sulphide lenses. It has a current indicated resource of 74.74 million tonnes containing 1.31 million ounces Au, 2.18 million oz silver and 105.34 million pounds copper, and an inferred resource of 63.79 million tonnes containing 800,000 oz gold, 3.15 million oz silver and 69.16 million lb copper both at a 0.30 g/t AuEq* cut-off grade (Dec. 15, 2014).

The 2017 drill campaign at Nucleus included 4,685 metres of diamond drilling in 16 holes. There were three components:

  1. Six drill holes totalling 1,580 metres were drilled within the outline of the resources, but in areas with the lowest historical drill density, to test the resource, as well as infill prominent gaps in the block model; each of these drill holes intersected gold mineralization that exceeds the average grade of the deposit, indicating an opportunity to both grow, and improve the grade of, the resource with infill drilling.
  2. Nine drill holes totalling 1,879 metres comprised stepouts from the current resource, designed to test for extensions of the mineralized structures to the north, south and east of the current resource shell. Five of the seven holes intersected gold mineralization that exceeds the cut-off grade of the current resource (0.3 g/t AuEq*). This affirms the potential to grow the resource through stepout drilling.
  3. Three drill holes totalling 1,226 metres tested sizable buried chargeability anomalies with coincident Au-arsenic in soil anomalies that lie north of the Nucleus deposit. The most significant results are from drill hole N17-10 which bottomed in mineralization, with the lowermost sample grading 2.09 g/t Au over 1.53 metres, within a 21.53-metre interval grading 0.567 g/t Au (see attached table). Each of the three drill holes intersected strongly phyllic altered microgranite with a high proportion of pyrite, arsenopyrite and pyrrhotite, disseminated and in stockwork veins. The style of alteration, mineralization and veining suggests a genetic link to the porphyry-related mineralization identified approximately one km to the east in the Keirsten zone and farther eastward at Revenue and the Blue Sky zone (PR-17-13 dated Nov. 2, 2017), demonstrating the effect of the Revenue porphyry system over a strike length of 4.36 km.

Six infill and extension drill holes partly distributed along three north-oriented fences (a western and eastern fence) tested the underexplored southern portion of the Nucleus area. They defined continuity of four west striking and steeply south-dipping gold-bearing structures over an up to 350-metre strike length (see attached table). The structures are open to the west, to depth and to the east. In each case these discrete structures contain gold mineralization related to zones of faulting, alteration and quartz-feldspar-porphyry dike emplacement. The now well-defined structures lie south of the main Nucleus resource and most of the noted intersections are either outside or within gaps in the current resource.


          LIST OF INTERSECTIONS** THAT DEFINE CONTINUITY OF MINERALIZED STRUCTURES ON NUCLEUS SOUTH
  
  
Farthest west                       Section location                                               Farthest east

Struct-
ure     West                   West fence (2017)      Central                East fence (2017)     East


A       14.40m of 1.859 g/t Au 18.30m of 0.820 g/t Au 31.85m of 0.560 g/t Au 7.59m of 0.659 g/t Au 9m of 0.781 g/t Au
        GRD12-178              N17-05                 GRD09-149              GRD09-136             N17-06A 
        227.15-241.55m         188.00-206.30m         205.62-237.47m         62.94-70.53m          42.00-51.00m    

B       39.51m of 1.079 g/t Au 30.00m of 0.701 g/t Au 12.84m of 0.805 g/t Au 23m of 0.670 g/t Au   Open
        GRD10-168              N17-12                 GRD09-149              N17-04 
        252.00-291.51m         212.00-242.00m         81.65-94.49m           52.00-75.00m  
        
C       14.94m of 0.416 g/t Au 17.73m of 1.797 g/t Au 11.15m of 0.599 g/t Au 12m of 1.005 g/t Au   43.7m of 0.544 
        GRD10-168              N17-12                 GRD09-154              N17-01                g/t Au 
        122.00-136.94m         99.00-116.73m          229.85-241.00m         165.00-177.00m        GRD09-152 
                                                                                                   6.00-49.70m

D       13.00m of 0.449 g/t Au 49.50m of 0.381 g/t Au 22.00m of 0.319 g/t Au 14.62m of 0.969       Open 
        GRD12-179              N17-13                 GRD09-154              g/t Au
        2.00-15.00m            157.50-207.00m         78.30-100.30m          N17-01 
                                                                             24.38-39.00m  
        


  

President's comment

Paul Reynolds, Triumph Gold's president and chief executive officer, comments: "Drilling at Nucleus in 2017 established the potential for increasing the size and grade of the Nucleus resource through infill and stepout drilling. Every hole that was drilled within the resource shell intersected broad zones of gold mineralization with grades that exceed the deposit average. In addition, six new drill holes in the underexplored southern portion of the resource demonstrated remarkable continuity of previously poorly understood gold-bearing structures, which we now feel confident and excited to drill in broad stepouts beyond the current resource shell."

Notes:

* Gold equivalent (AuEq) is used for illustrative purposes, to express the combined value of gold, silver and copper as a percentage of gold. No allowances have been made for recovery losses that would occur in a mining scenario. AuEq is calculated on the basis of $2.90 (U.S.) per pound of copper, $1,250 (U.S.) per troy ounce of gold and $22 (U.S.) per troy ounce of silver. The values used reflect the commodity prices at the effective date of the National Instrument 43-101 resource (Dec. 15, 2014).

** Length/interval refer to drill hole intercept. True widths have not been determined.

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 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 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.

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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