10:14:05 EST Mon 19 Nov 2018
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Triumph Gold Corp (2)
Symbol C : TIG
Shares Issued 81,030,138
Close 2018-10-15 C$ 0.52
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Triumph discovers two new Au-Cu showings at Freegold

2018-10-16 09:32 ET - News Release

Mr. Paul Reynolds reports

TRIUMPH GOLD ANNOUNCES THE DISCOVERY OF TWO NEW GOLD-COPPER SHOWINGS AND COMPLETION OF THE 2018 FIELD SEASON

Triumph Gold Corp.'s 2018 exploration season, on the company's 100-per-cent-owned, road-accessible, Freegold Mountain property, which began in late March, is now complete. In addition to making numerous long, high-grade and gold-rich drill intersections during the 2018 season (summarized below) two new, at surface, mineral showings were discovered, the Drone zone showing and the Maximus II showing.

Two new showings

Two new gold-copper-zinc-lead showings have been discovered on the Freegold Mountain property. Both showings were discovered as a result of local placer mining operations where surficial deposits of gravel were removed exposing previously buried mineralized bedrock.

The Drone zone is exposed over an approximately 100-by-25-metre area in Mechanic Creek, 500 metres east of high-grade drill intercepts in the Nucleus gold deposit, and 500 metres west of drill holes that intersected the Keirsten zone porphyry system. The zone is open in all directions and has never been drilled or previously explored. The mineralized body covers the entire area of exposure, and consists of granite hosting large xenoliths of biotite schist, and crosscut by irregular quartz-feldspar-porphyry bodies and thick gouge-rich faults. Mineralization comprises disseminated sulphides and quartz-sulphide veins with pyrite, chalcopyrite, and lesser arsenopyrite and bismuthinite. In one location a sample from locally sourced rock debris contained abundant visible gold. The proportion of chalcopyrite to pyrite increases with proximity to the quartz feldspar porphyry dikes and to the faults. The zone was systematically chip sampled and grab samples were collected from select locations, assays are in progress.

The Maximus II showing was discovered in a newly exposed placer mining cut in Happy Creek, located approximately one kilometre to the northeast of drilling that intersected high-grade gold-rich mineralization at the Blue Sky porphyry (such as news releases PR18-08 dated Aug. 23 and PR 18-09, dated Sept. 12). The Maximus II showing consists of multiple thick (up to one-metre estimated true width) domains of dense veining and vein breccias with polymetallic mineralization that are exposed discontinuously over 70-metre strike length and are open in all directions. Thick zones of carbonate-quartz-sulphide altered metamorphic wallrock surround the veins and breccias. Sulphides consist of pyrite and arsenopyrite with lesser sphalerite, galena and chalcopyrite. Where exposed, the Maximums II was systematically channel and chip sampled and grab samples were collected from select locations, assays are in progress.

Tony Barresi, Triumph Gold's vice-president of exploration, comments: "The six-kilometre-long multielement soil anomaly that encompasses the Revenue-Nucleus-Blue-Sky zone is cut by five creeks, all of which have active or historical placer mining; this speaks not only to the sheer amount of gold that is eroding out these hills, but also to the increased likelihood of exposing a bedrock source of the gold through active placer mining. We are in the unusual and enviable situation where a number of active placer (surficial) mining and exploration operations are supporting our bedrock exploration efforts. We are grateful to the placer miners who generously alert us to the presence of newly uncovered mineralized bedrock."

Triumph Gold completes 2018 fieldwork on Freegold Mountain property

The exploration season on Triumph Gold's Freegold Mountain property began on March 21, and was completed on Wednesday, Oct. 3. The work conducted on the property included:

  • 17,566 metres of diamond drilling, in 74 drill holes, testing six areas: Revenue East, Blue Sky zone, Nucleus, Granger, Guder and Irene;
  • 1,100 metres of trenching that tested four areas: Blue Sky zone, Guder, Granger and Cabin;
  • Soil sampling over a 4.3-square-kilometre area (925 samples);
  • An IP-DC-MT geophysical survey over the entire Nucleus-Revenue-Blue-Sky soil anomaly (about 30 line kilometres);
  • A ground magnetic survey over Revenue East and the Blue Sky zone (about 50 line kilometres);
  • Extensive prospecting in the Nucleus-Revenue-Blue-Sky area, leading to the discoveries of the Drone zone and Maximus II showings (see above).

Highlights of 2018 exploration to date:

During the year to date, Triumph's exploration program has:

  • Delineated a zone of high-grade, gold-rich porphyry mineralization in the Blue Sky zone with six drill holes (such as RVD18-19 with 316.00 metres*** of 1.79 grams per tonne (g/t) gold equivalent (AuEq*) including 79.75 metres of 3.34 g/t AuEq*) (news releases PR18-08 dated Aug. 23 and PR 18-09 dated Sept. 12);
  • Intersected gold-rich breccia mineralization in the WAu breccia with five drill holes, defining high-grade mineralization over a 130-metre strike length and to a depth of 200 metres (such as RVD18-08 with 128.00 metres*** of 1.27 g/t AuEq* and RVD18-28 with 43.02 metres*** of 1.50 g/t AuEq*) (news release PR18- 07 dated July 31);
  • Defined mineralization on the little-tested eastern side of the Revenue Diatreme (such as RVD18-02 with 44 metres*** of 1.08 g/t AuEq*) (news release PR18-07 dated July 31);
  • Future 2018 news releases will include results from exploration drilling in the Guder (1,352 metres) and Granger (1,014 metres) zones, exploration and resource drilling at Nucleus (4,159 metres) and inaugural drilling of the Irene epithermal vein (1,369 metres). Results of trenching, prospecting, soil sampling and geophysical programs are also pending.

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.

Qualified person

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.

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