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Triumph Gold Corp (2)
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Triumph drills 18.39 m of 1.035 g/t AuEq at Freegold

2018-10-24 10:25 ET - News Release

Mr. Paul Reynolds reports

TRIUMPH GOLD ANNOUNCES RESULTS FROM EXPLORATION DRILLING IN THE GRANGER AND GUDER ZONES

Triumph Gold Corp. has released the results of exploration drilling in the Granger and Guder zones on its 100-per-cent-owned, road-accessible Freegold Mountain property in Yukon. The Granger and Guder zones are located in the central portion of a six-kilometre-long multielement soil anomaly that also contains the recently discovered high-grade, gold-rich Blue Sky porphyry over one kilometre to the east and the Nucleus gold deposit over 1.5 kilometres to the west.

Freegold Mountain project -- 2018 Guder and Granger drill results

Granger zone

Six holes totalling 1,014 metres tested a shallow oxide gold target in the Granger zone, which is located between the Revenue diatreme and Nucleus gold deposit. Historical exploration in this zone included trenching, rock sampling (with grab samples up to 45.5 grams per tonne gold), and percussion, reverse circulation and limited diamond drilling. Historical drilling intersected multiple shallow oxide gold intercepts, including 5.29 grams per tonne gold over 13.71 metres in GRRAB-091 (from 3.05 metres to the bottom of the hole at 16.76 metres). Drilling in 2018 intersected variably oxidized mineralization in every hole, delineating a mineralized corridor over a 200-metre strike length and to a depth of at least 74 metres. The mineralized zone is open in all directions and to depth.

Highlights of the results from 2018 Granger zone drilling include:

  • RVD18-33 with 18.39 metres of 0.98 gram per tonne gold (2.95 to 21.34 metres);
  • RVD18-29 with 18.00 metres of 0.61 gram per tonne gold (53.00 to 71.00 metres);
  • RVD18-30 with 55.21 metres of 0.45 gram per tonne gold (18.84 to 74.05 metres).

The geological setting and the style of mineralization in the Granger zone are similar to the Nucleus gold deposit, located approximately 1.5 kilometres to the west. Mineralization is focused within a brecciated and highly altered roof pendant of metamorphic rock surrounded by the Revenue granite and intruded by numerous quartz-feldspar porphyry and microgranite dikes.

 
               2018 GRANGER ZONE DRILL INTERSECTIONS

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

RVD18-29     26.40   30.40      4.00    0.461   0.108   0.650   0.395
And          53.00   71.00     18.00    0.607   0.034   0.666   0.405
And          90.00   97.00      7.00    0.331   0.102   0.507   0.308
RVD18-30     18.84   74.05     55.21    0.446   0.054   0.539   0.327
RVD18-31      7.62   41.10     33.48    0.435   0.032   0.499   0.303
RVD18-33      2.95   21.34     18.39    0.979   0.032   1.035   0.629
RVD18-34     30.48   36.58      6.10    0.509   0.099   0.681   0.414
And          85.00   99.30     14.30    0.575   0.015   0.601   0.365
RVD18-35     29.31   31.64      2.33    0.482   0.098   0.644   0.391

* Gold equivalent and copper equivalent 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 refers to drill hole intercept. True widths 
have not been determined.

Guder zone

Six drill holes totalling 1,352 metres tested the Guder zone, located approximately one kilometre southeast of the Granger zone on the south side of the Revenue diatreme. These drill holes followed up on a high-grade gold intersection in RVD17-14 (15.0 grams per tonne gold over seven metres; see press release dated Nov. 15, 2017) as well as on porphyry-style alteration and veining encountered in the same hole. The 2018 drilling intersected significant copper and gold grades in supergene-enriched sulphide (for example, RVD18-27 with 37.50 metres of 0.26 gram per tonne gold, 3.3 grams per tonne silver and 0.17 per cent copper) and hypogene sulphide porphyry-style mineralization (for example, RVD18-37 with 26.38 metres of 0.26 gram per tonne gold and 0.11 per cent copper). The best porphyry-style veining, alteration and mineralization were intersected in the two drill holes collared farthest to the west (RVD18-27 and RVD18-37). This mineralization may be part of a larger mineralized zone also intersected by several historical drill holes approximately 200 metres to the west, including RVRC10-031, which collared in 13.71 metres grading 0.49 gram per tonne gold, 6.5 grams per tonne silver and 0.31 per cent copper (6.10 metres to 19.81 metres) and bottomed in 44.20 metres grading 0.51 gram per tonne gold, 3.5 grams per tonne silver and 0.175 per cent copper (73.15 metres to 117.35 metres).

                        2018 GUDER ZONE DRILL INTERSECTIONS

Drill hole     From        To    Length**     Au     Ag       Cu       Mo     AuEq*    CuEq*
                 (m)       (m)       (m)    (g/t)  (g/t)      (%)      (%)    (g/t)    (g/t) 
 
RVD18-26      75.00     76.50      1.50    2.750    3.0    0.165    0.000    3.060    1.859
RVD18-27      61.50     99.00     37.50    0.256    3.3    0.169    0.007    0.641    0.390
Including     73.00     83.60     10.60    0.347    7.3    0.353    0.015    1.156    0.702
RVD18-28     306.50    320.00     13.50    0.078    3.7    0.150    0.004    0.408    0.248
RVD18-32     265.00    271.00      6.00    0.159    1.0    0.151    0.016    0.560    0.340
RVD18-36     180.00    182.00      2.00    1.220    2.0    0.070    0.008    1.427    0.867
RVD18-37       8.40    114.77    106.37    0.155    1.1    0.080    0.003    0.330    0.200
Including     88.39    114.77     26.38    0.260    1.0    0.106    0.003    0.450    0.273

* Gold equivalent and copper equivalent 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 refers to drill hole intercept. True widths have not been determined.

President's comment

Paul Reynolds, Triumph Gold's president and chief executive officer, commented: "As we continue to explore the six-kilometre multielement soil anomaly that envelops the Blue Sky, Revenue and Nucleus areas, we are becoming increasingly convinced that the entire area is affected by a very large and vigorous hydrothermal system. Identifying porphyry-style mineralization at Guder and Nucleus-like oxide gold mineralization at Granger is an excellent outcome for this portion of the exploration drill program and demonstrates the diversity of targets and extent and complexity of the system."

Methods and qualified person

Drill core samples ranged between one metre and two 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-gram nominal sample (method GE FAA313), and samples that tested over 10 grams per tonne gold were retested using 50-gram 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 quality control are maintained at the lab through rigorous use of internal standards, blanks and duplicates. An additional quality assurance/quality control program was administered by Triumph Gold: At minimum, three quality control samples, consisting of blanks, certified reference standards and duplicates, were blindly inserted into each 75-sample batch. Quality assurance/quality control samples that return unacceptable values trigger investigations into the results and reanalyses of the samples that were tested in the batch with the failed quality assurance/quality control sample.

The technical content of this news release has been reviewed and approved by Dr. Tony Barresi, PhD, PGeo, vice-president, exploration, for the company and a qualified person as defined by National Instrument 43-101.

About Triumph Gold Corp.

Triumph Gold is a growth-oriented Canadian-based precious metal 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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