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Triumph Gold Corp (2)
Symbol C : TIG
Shares Issued 78,442,638
Close 2018-08-23 C$ 0.67
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Triumph Gold drills 125.13 m of 1.24 g/t Au at Freegold

2018-08-23 06:33 ET - News Release

Mr. Paul Reynolds reports

TRIUMPH GOLD INTERSECTS STRONG GOLD-RICH PORPHYRY MINERALIZATION IN THE BLUE SKY PORPHYRY, INCLUDING 125.13 METRES OF 1.24 GRAMS PER TONNE GOLD, 0.31% COPPER, 7.0 GRAMS PER TONNE SILVER AND 0.01% MOLYBDENUM

Triumph Gold Corp. has delineated gold-rich porphyry-style mineralization in the Blue Sky zone on its 100-per-cent-owned, road-accessible, Freegold Mountain property in the Yukon. 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 per cent copper and 0.01 per cent molybdenum contained within 202.10 metres of 0.87 g/t gold, 5.8 g/t silver, 0.26 per cent copper and 0.01 per cent molybdenum (287.00 to 489.10 m);
  • RVD18-16 with 94.50 metres of 1.53 g/t gold, 5.8 g/t silver, 0.28 per cent copper and 0.01 per cent molybdenum (170.50 to 265.00 m);
  • RVD18-05 with 149.26 metres of 0.30 g/t gold, 2.5 g/t silver, 0.15 per cent copper and 0.02 per cent molybdenum (375.00 to 524.26 m), 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 per cent copper and 0.03 per cent molybdenum (484.75 to 524.26 m).

                            BLUE SKY PORPHYRY DIAMOND DRILL INTERCEPTS, 2018

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

RVD18-05       375.00    524.26     149.26     0.300       2.5     0.152     0.016      0.72      0.44
including      484.75    524.26      39.51     0.679       5.0     0.248     0.027      1.38      0.84
including      508.75    524.26      15.51     0.807       6.0     0.274     0.034      1.63      0.99
RVD18-16       170.50    265.00      94.50     1.532       5.8     0.279     0.013      2.18      1.33
including      241.50    258.00      16.50     3.440      10.2     0.464     0.031      4.60      2.80
RVD18-17       287.00    489.10     202.10     0.874       5.8     0.256     0.014      1.50      0.91
including      310.47    435.60     125.13     1.240       7.0     0.310     0.010      1.93      1.17

* 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.

Since 2016, Triumph Gold's exploration has been focused on the six-kilometre-long intense multielement 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 per cent copper and 0.01 per cent molybdenum from 121.00 m) and RVD17-01 (94.38 metres of 0.34 g/t gold, 3.9 g/t silver, 0.17 per cent Cu and 0.02 per cent molybdenum from 369.62 m) (see news release dated 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 news release dated Nov. 2, 2017) to the Keirsten zone (100 metres of 0.31 g/t AuEq in KZ18-01, see news release dated July 21, 2018), and includes RVD11-22 located 250 metres to the southwest of the high-grade intersections in the Blue Sky zone (238.10 metres of 0.31 g/t gold and 0.13 per cent copper).

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 dikes. It consists of chalcopyrite and molybdenite in quartz veins, hydrothermal breccia matrix, and disseminated in hydrothermally altered granite and quartz-feldspar porphyry dikes. The most intense mineralization is associated with strong potassic (K-feldspar grading outward into biotite) alteration. A set of late quartz-carbonate veins is 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.

Continuing 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:

  1. 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.
  2. Crews are currently upgrading the soil grid and conducting trenching within the Blue Sky zone.
  3. 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.

President's comment

Paul Reynolds, Triumph Gold's president and chief executive officer, commented: "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."

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 (atomic absorption spectroscopy), ICP-AES (inductively coupled plasma atomic emission spectrometry) 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 Dr. 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 Canada-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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