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Triumph Gold Corp (2)
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Triumph drills 72 m of 1.33 g/t AuEq at Freegold Mtn

2018-07-31 11:04 ET - News Release

Mr. Paul Reynolds reports

TRIUMPH GOLD DEFINES GOLD-RICH BRECCIA ZONE AT REVENUE EAST

Triumph Gold Corp. has provided the results of spring and early summer drilling on the company's 100-per-cent-owned, road-accessible, Freegold Mountain property in the Yukon territory. Exploration was focused within a six-kilometre soil and geophysical anomaly that surrounds the Revenue and Nucleus resource areas. Highlights of results available to date include:

  • Expansion and definition of the gold-silver-copper-molybdenum-rich breccia body (WAu breccia) first reported in 2017 (press release No. 17-12, Oct. 19, 2017). The breccia was intersected by five additional drill holes including 72.00 metres of 1.33 grams per tonne gold equivalent* (from 60.00 m in RVD18-03), 128.00 metres of 1.27 g/t AuEq* (from 105.00 m in RVD18-08), and 43.02 metres of 1.50 g/t AuEq* (from 62.52 m in RVD18-11). Individual sample intervals have gold concentrations up to 27.2 g/t (see attached table);
  • Multiple drill intersections of mineralization within the Revenue diatreme (main breccia body), including 44.00 metres of 1.08 g/t AuEq* (from 198.00 m in RVD18-02), 19.81 m of 1.24 g/t AuEq* (from 91.44 m in RVD18-10), and 11.00 metres of 2.04 g/t AuEq* (from 146m in RVD18-10) (see attached table).

WAu breccia target

The WAu Au-Ag-Cu-Mo breccia, located near the southeast corner of the Revenue diatreme, was first intersected by two drill holes in 2011:

  • RVD11-19 -- 1.40 g/t Au, 9.2 g/t Ag, 0.21 per cent Cu and 0.032 per cent Mo over 76.34 m (176.75 to 253.09 m);
  • RVD11-28 -- 0.86 g/t Au, 10.3 g/t Ag, 0.36 per cent Cu and 0.120 per cent Mo over 41.95 m (208.30 to 250.25 m).

Relogging of core in 2016 identified the high-grade breccia zone as a discrete body, which was then targeted and intersected in 2017 by a stepout 41 metres west of RVD11-19:

  • RVD17-12 -- 1.18 g/t Au, 8.3 g/t Ag, 0.24 per cent Cu and 0.013 per cent Mo over 40.0 m (247.50 to 287.50 m).

Modelling of the breccia as an east-west striking, south-dipping body helped successfully target five additional drill holes in 2018 to test the breccia east of, and both up and down dip from, the original RVD11-19 drill intersection. These drill holes confirmed the continuity and grade of the breccia over a 130-metre strike length, and to a depth of at least 200 metres (see attached table). The breccia is open to depth and to the west beneath the Revenue diatreme.

                  WAU BRECCIA INTERCEPTS, REVENUE EAST DRILLING, 2018

                 From        To    Length**      Au        Ag        Cu        Mo      
Drill hole          m         m         m       g/t       g/t         %         %      AuEq*    CuEq*           
WAu breccia                                                     
RVD18-03        52.00    232.00    180.00     0.307      5.70     0.162     0.020     0.825     0.501
Including       60.00    132.00     72.00     0.538     13.72     0.302     0.013     1.327     0.807
RVD18-04        47.00    122.00     75.00     0.334      2.57     0.161     0.013     0.741     0.451
Including       92.00    122.00     30.00     0.513      4.38     0.276     0.013     1.138     0.691
And            173.00    181.36      8.36     0.178      0.48     0.134     0.013     0.515     0.313
RVD18-08       105.00    233.00    128.00     0.639      2.10     0.169     0.037     1.271     0.773
Including      169.25    201.00     31.75     0.748      7.33     0.367     0.018     1.602     0.974
Including      216.50    217.98      1.48    27.200      0.00     0.096     0.030    27.620    16.783
RVD18-11        47.24    161.50    114.26     0.389      2.53     0.159     0.007     0.746     0.454
Including       62.52    105.54     43.02     0.806      6.03     0.329     0.009     1.502     0.912
RVD18-15        82.00    190.86    108.86     0.234      0.66     0.101     0.035     0.715     0.434
Including      100.00    120.24     20.24     0.394      2.33     0.175     0.053     1.180     0.717

Other targets

Additional drilling in 2018 targeted breccia-hosted mineralization within the Revenue diatreme as well as adjacent porphyry-style mineralization at Revenue East, and the porphyry-style Keirsten zone, which was identified in 2017 (press release No. 17-13, Nov. 2, 2017). Porphyry-style mineralization has also been identified in a number of locations beyond Revenue East (for example to the east in the Blue Sky zone, and to the west at Revenue West and in the Guder zone). The Blue Sky zone and Guder zone are being tested during the current drill campaign, and results will be reported separately.

Within the eastern part of the Revenue diatreme, a series of shallow holes were drilled to test for near-surface oxide gold, as intersected in RVD17-10 (0.64 g/t Au over 68 m from 36 m; press release 17-12, Oct. 19, 2017). Although the oxide gold encountered in 2018 was lower grade than that intersected in 2017 (for example RVD18-09 with 28.96 m at 0.342 g/t Au), significant higher-grade gold and copper was intersected in an underlying and previously unknown supergene blanket (for example RVD18-10 with 19.81 m at 0.887 g/t Au, 2.7 g/t Ag and 0.16 per cent Cu) that consists of chalcocite on fractures and coating pyrite, and which has also been identified elsewhere at Revenue East, for example, in the upper portion of the WAu breccia. Sulphide replacement and hydrothermal breccia mineralization were intersected as well (RVD18-02 with 44 m at 0.405 g/t Au, 1.9 g/t Ag and 0.09 per cent Cu, and RVD18-10 with 11 m at 1.563 g/t Au, 6.66 g/t Ag and 0.22 per cent Cu) (see attached table).

Porphyry-style mineralization was identified at Revenue East in numerous historic drill holes (for example RVD11-22 with 238.10 m at 0.13 per cent Cu, 0.31 g/t Au and RVD11-028 with 104.15 m at 0.17 per cent Cu, 0.32 g/t Au and 0.09 per cent Mo). The footprint of porphyry-style mineralization at Revenue East was extended westward by 110 metres with RVD18-02 and south 40 metres by RVD18-01. It was also identified on the northeast edge of the Revenue diatreme with RVD18-07, greater than 200 metres north of the main body of porphyry mineralization.

The Keirsten zone is a blind target, located under tens of metres of overburden between the Revenue and Nucleus deposits. Inaugural drilling of the zone in 2017 tested the core of a strong chargeability high and encountered intense, multistage porphyry-style alteration and veining in a granodiorite porphyry host rock from 193 metres to the end of the hole at 603.50 metres. The 2018 drill campaign expanded the zone of strong porphyry-style alteration and veining, but copper and gold mineralization, although widespread, is generally low grade (see attached table).

 
                   ADDITIONAL REVENUE EAST AND KEIRSTEN ZONE DRILL RESULTS, 2018

                 From        To    Length**      Au        Ag        Cu        Mo      
Drill hole          m         m         m       g/t       g/t         %         %      AuEq*    CuEq*           

Revenue East diatreme                                         
RVD18-02       111.00    125.00     14.00     0.053      4.43     0.191     0.012     0.532     0.323
And            198.00    242.00     44.00     0.405      1.90     0.088     0.058     1.083     0.658
Including      231.50    239.00      7.50     1.394      4.60     0.301     0.063     2.500     1.519
RVD18-09        70.10     99.06     28.96     0.342      0.00     0.026     0.001     0.391     0.238
RVD18-10        91.44    111.25     19.81     0.887      2.69     0.163     0.006     1.244     0.756
And            146.00    157.00     11.00     1.563      6.66     0.221     0.003     2.039     1.239
RVD18-12        27.43     30.48      3.05     0.341      0.00     0.130     0.003     0.581     0.353
Revenue East porphyry
RVD18-01       134.50    201.00     66.50     0.189      2.06     0.103     0.007     0.444     0.270
RVD18-02         8.00     17.50      9.50     0.591      2.53     0.170     0.004     0.939     0.571
And             37.00     57.05     20.05     0.175      2.84     0.160     0.008     0.541     0.329
RVD18-07       102.39    103.63      1.24     0.414     10.00     0.522     0.038     1.735     1.054
RVD18-13        13.00    103.07     90.07     0.173      0.62     0.107     0.013     0.472     0.287
Including       51.00     61.00     10.00     0.343      2.58     0.181     0.018     0.835     0.507
Keirsten zone
KZ18-01          5.90      7.21      1.50     1.610      4.00     0.033     0.004     1.752     1.065
And             29.50     32.50      3.00     1.768      3.00     0.040     0.000     1.872     1.138
And            181.00    183.00      2.00     0.057    300.00     0.096     0.000     4.054     2.463
And            192.50    292.50    100.00     0.235      0.30     0.049     0.000     0.320     0.195
KZ18-02        177.80    181.80      4.00     0.412      1.75     0.175     0.000     0.721     0.438
And            200.00    205.00      5.00     0.144      0.00     0.172     0.000     0.426     0.259
And            312.00    315.00      3.00     0.756      0.00     0.071     0.000     0.875     0.532
And            388.00    389.50      1.50     1.340      0.00     0.024     0.000     1.380     0.839
And            477.66    478.66      1.00     8.120      0.00     0.019     0.001     8.162     4.959
KZ18-03         71.00     78.50      7.50     0.407      0.00     0.038     0.002     0.487     0.296
And            172.50    178.50      6.00     0.523      0.00     0.001     0.004     0.559     0.340
KZ18-04         33.00     34.50      1.50     2.060      0.00     0.019     0.000     2.092     1.271
And            301.23    307.00      5.77     0.297      0.00     0.113     0.001     0.489     0.297



Exploration update

An 18,000-metre diamond drill program is currently in progress on Triumph Gold's 100-per-cent-owned, road-accessible Freegold Mountain property. Exploration is mainly focused on identifying new porphyry and epithermal mineralization within a six km long soil and geophysical anomaly that envelops the Revenue and Nucleus deposit areas. Results in this news release represent less than 30 per cent of the total planned program. Drilling is now complete in three additional areas, the Blue Sky zone (RVD17-13 with 1.01 g/t Au and 0.285 per cent Cu over 57 metres), the Guder zone (RVD17-14 with 15.0 g/t Au over seven metres) and the Granger zone (GRRAB-091 with 4.48 g/t Au over 16.73 m). The results from drilling in these zones will be released as they are received and checked for quality. Two drills are currently situated over the Nucleus deposit area where they will drill approximately 4,000 metres. When the drilling at Nucleus is complete one drill will be mobilized to conduct the inaugural drill test of the Irene epithermal vein prior to the end of the field season.

President's comment

Paul Reynolds, Triumph Gold's president and chief executive officer, comments: "Triumph Gold's technical team identified three exploration opportunities at Revenue East that were tested with a precision exploration program. That all three opportunities produced positive results speaks to how robust the Revenue hydrothermal system is, and how much exploration success can be achieved with the right targeting techniques. We are especially excited by the definition of the Au-Ag-Cu-Mo-rich WAu breccia, and the possibility of finding similar breccia bodies in the future."

Notes:

* 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 $3 (U.S.) per pound of copper, $16 (U.S.) per pound of molybdenum, $1,250 (U.S.) per troy ounce of gold and $16 (U.S.) per troy ounce of silver.

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

Methods and qualified person

Drill core samples ranged between 1.00 and 2.00 metres in length and were cut at Triumph's core logging facility on the Freegold Mountain property. The samples were analyzed by SGS Canada of Vancouver, B.C. They were prepared for analysis according to SGS method PRP89: each sample was crushed to 75 per cent passing two millimetres and a 250-gram split was pulverized to better than 85 per cent passing 75-micron mesh. Gold was tested by fire assay with atomic absorption finish on a 30 g nominal sample (method GE FAA313), and samples that tested over 10 g/t Au were retested using 50 g 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), overlimit 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 (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 three quality control samples, consisting of blanks, certified reference standards and duplicates, are blindly inserted into each 75-sample batch. QA/QC samples that return unacceptable values trigger investigations into the results and reanalyses of the samples that were tested in the batch with the failed QA/QC sample.

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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