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Triumph Gold Corp (2)
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Triumph Gold drills 316 m of 1.79 g/t AuEq at Freegold

2018-09-12 07:03 ET - News Release

Mr. Paul Reynolds reports

TRIUMPH GOLD ANNOUNCES THREE ADDITIONAL GOLD-RICH DRILL INTERSECTIONS FROM BLUE SKY PORPHYRY HIGHLIGHTING RVD18-19 WITH 316.00 METRES OF 1.79 GRAMS PER TONNE (G/T) GOLD EQUIVALENT* INCLUDING 79.75 METRES OF 3.34 G/T GOLD EQUIVALENT* WITH 2.5 GRAMS PER TONNE GOLD AND 0.38% COPPER

Triumph Gold Corp. has further 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 follow-up drilling of the Blue Sky porphyry include:

  • RVD18-19 with 316.00 metres of 1.10 grams per tonne (g/t) gold (Au), 0.27 per cent copper (Cu), 5.0 g/t silver (Ag) and 0.02 per cent molybdenum (Mo) (196.00 to 512.00 m), including 79.75 metres of 2.48 g/t Au, 0.38 per cent Cu, 6.9 g/t Ag and 0.02 per cent Mo (338.75 to 418.50 m);
  • RVD18-20 with 110.50 metres of 0.45 g/t Au, 0.19 per cent Cu and 3.7 g/t Ag (202.00 to 312.50 m), including 54.40 metres of 0.73 g/t Au, 0.305 per cent Cu and 7.0 g/t Ag (234.00 to 288.50 m);
  • RVD18-21 with 83.50 metres of 0.70 g/t Au, 0.14 per cent Cu and 7.1 g/t Ag (350.00 to 433.50 m), including 50.93 metres of 1.08 g/t Au, 0.19 per cent Cu and 11.0 g/t Ag (371.57 to 422.50 m).

 GOLD-RICH, HIGH-GRADE, BLUE SKY PORPHYRY DRILL INTERCEPTS, 2017, 2018

Drill hole     From     To    Length    Au   Ag    Cu    Mo  AuEq  CuEq
                  m      m         m   g/t  g/t     %     %   g/t     %
PR18-09, Sept. 6, 2018 
RVD18-19     196.00 512.00    316.00 1.101  5.0 0.270 0.020  1.79  1.09
Including    338.75 418.50     79.75 2.481  6.9 0.378 0.017  3.34  2.03
RVD18-20     202.00 312.50    110.50 0.452  3.7 0.187 0.004  0.85  0.51
Including    234.00 288.50     54.50 0.728  7.0 0.305 0.007  1.38  0.84
RVD18-21     350.00 433.50     83.50 0.704  7.1 0.137 0.003  1.04  0.63
Including    371.57 422.50     50.93 1.080 11.0 0.193 0.003  1.56  0.95
PR18-08, Aug. 23, 2018
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
PR17-13, Nov. 2, 2017
RVD17-01     369.62 464.00     94.38  0.34  3.9 0.169 0.022  0.86  0.52
RVD17-13     112.00 169.00     57.00  1.08  6.6 0.285 0.020  1.82  1.10

Paul Reynolds, Triumph Gold's president and chief executive officer, commented: "RVD18-19 contains a truly exceptional intersection. Not only does it represent the longest and highest-grade intersection in the Blue Sky porphyry to date, but it is one of the highest-grade intersections ever made in a porphyry system in the Yukon. At 565.6 gram metres gold equivalent, it is likely to be one of the best intersections made on a gold exploration property this year. I congratulate our technical team for their perseverance and success in testing previously untested ground surrounding the Revenue and Nucleus deposits."

Blue Sky porphyry

Since 2016 Triumph Gold's exploration on the Freegold Mountain property has been focused on the six-kilometre-long, multielement soil and geophysical anomaly that encompasses the Revenue and Nucleus areas. Within the anomaly, the Blue Sky zone covers a broad area extending 2.3 kilometres east of the Revenue diatreme to the eastern margin of the anomaly. It was drill tested in 2017 with significant intersections made in RVD17-13 (57.00 metres of 1.08 g/t Au, 6.6 g/t Ag, 0.285 per cent Cu and 0.02 per cent Mo from 112.00 m) and RVD17-01. Three previously released 2018 drill holes (see news release dated Aug. 23) successfully targeted the Blue Sky porphyry and demonstrated both high-grade and contiguous mineralization over up to 202.10 metres (RVD18-17, which included 125.13 metres of 1.24 g/t Au, 7.0 g/t Ag, 0.31 per cent Cu and 0.01 per cent Mo). With RVD18-19, RVD18-20 and RVD18-21, described in this news release, the size and grade of the Blue Sky porphyry continue to grow. RVD18-19 contains the longest intersection (316.00 m of 1.09 per cent copper equivalent), the highest-grade composite (79.75 m of 2.48 g/t Au, 0.38 per cent Cu, 6.9 g/t Ag and 0.02 per cent Mo), and the highest-grade gold in a single assay (39.4 g/t Au from 376.60 to 377.60 m) to date.

High-grade, gold-rich mineralization in the Blue Sky porphyry is demonstrated over 180 metres in a northeast-southwest direction and occupies the northeastern extent of a 500-metre-long corridor of well-mineralized rock that includes the newly defined WAu breccia (that is, 76.34 metres of 1.40 g/t Au, 9.2 g/t Ag, 0.21 per cent Cu and 0.032 per cent Mo in RVD11-19; see news release dated July 21, 2018), and porphyry-related stockwork-style mineralization (that is 238.10 metres of 0.31 g/t gold and 0.13 per cent copper in RVD11-22). The high-grade zone is modelled as an irregular-shaped body with a south- or southeast-dipping upper surface that is open along strike to the northeast, west, and downdip to the south and southeast. The 500-metre-long corridor is contained within a 3.6-kilometre zone of porphyry mineralization that extends from the Happy Creek showing (269.00 metres of 0.29 g/t AuEq in RVD17-09, see news release dated Nov. 2, 2017) to the Keirsten zone (100 metres of 0.32 g/t AuEq in KZ18-01, see news release dated July 21, 2018). The broader zone of porphyry mineralization is flanked to the west by the Nucleus epithermal gold deposit, and crosscut by a locally well-mineralized diatreme (the Revenue diatreme).

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 outwards 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 porphyry

The high-grade mineralization identified in the Blue Sky zone continues to be a focus of exploration activity:

  • Deep penetrating induced polarization and infill magnetic geophysical surveys are currently being organized.
  • Crews are completing an infill soil survey over Revenue East and the Blue Sky zone.
  • Road building and trenching have exposed new outcrops in the Blue Sky zone, which are being mapped and prospected.
  • Expert porphyry and structural geology consultants have been brought to the Freegold Mountain property to conduct reviews of the Blue Sky porphyry (John Bradford, MSc, PGeo, Triumph Gold technical adviser, and Cam Bartch, MSc, PGeo, Terrane Geoscience).

Exploration update

Triumph Gold's 2018 Freegold Mountain property drill campaign, which began in late March, is now complete. Geophysics, trenching and soil sampling programs are expected to continue until early October. Triumph Gold has released the results from 9,672 metres of diamond drilling in the Keirsten zone, Revenue East, and the Blue Sky zone. Drill results from these zones have been released in their entirety. Future news releases will focus on grassroots exploration drilling in the Guder (1,352 metres) and Granger (1,014 metres) zones, exploration and resource drilling at Nucleus (4,159 metres), and the inaugural drilling of the Irene epithermal vein (1,369 metres).

          FULL TABLE OF NEW ASSAY RESULTS FROM THE BLUE SKY ZONE, 2018

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

RVD18-19     196.00  512.00      316.00  1.101   5.0  0.270  0.020  1.79   1.09
Including    338.75  418.50       79.75  2.481   6.9  0.378  0.017  3.34   2.03
RVD18-20      98.00  118.00       20.00  0.450   1.5  0.113  0.002  0.67   0.41
And          202.00  312.50      110.50  0.452   3.7  0.187  0.004  0.85   0.51
Including    234.00  288.50       54.50  0.728   7.0  0.305  0.007  1.38   0.84
RVD18-21     238.00  240.00        2.00  3.810   0.0  0.045  0.000  3.89   2.36
And          350.00  433.50       83.50  0.704   7.1  0.137  0.003  1.04   0.63
Including    371.57  422.50       50.93  1.080  11.0  0.193  0.003  1.56   0.95
And          531.00  540.00        9.00  1.126   1.8  0.112  0.024  1.54   0.94
RVD18-18      60.00   62.00        2.00  6.450   0.0  0.017  0.001  6.49   3.94
RVD18-22     348.00  350.00        2.00  7.410   0.0  0.017  0.000  7.44   4.52
RVD18-23      44.20  115.00       70.80  0.395   0.2  0.050  0.000  0.48   0.29
Including     44.20   50.29        6.09  1.025   0.0  0.070  0.000  1.14   0.69
Including     74.00   85.00       11.00  0.867   0.4  0.091  0.000  1.02   0.62
And          272.00  305.96       33.96  0.302   0.0  0.023  0.000  0.34   0.21
And          394.72  400.00        5.28  0.373   6.6  0.082  0.002  0.61   0.37
And          443.66  445.00        1.34  0.700   5.0  0.542  0.015  1.78   1.08
RVD18-24      15.00   38.00       23.00  0.570   1.0  0.080  0.001  0.72   0.44
And          324.30  349.50       25.20  0.337   2.3  0.040  0.004  0.46   0.28
And          459.00  468.11        9.11  0.552   1.2  0.036  0.000  0.63   0.38
RVD18-25B    164.00  185.00       21.00  0.524   0.3  0.054  0.002  0.63   0.39

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.

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