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Triumph Gold Corp (2)
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Triumph samples up to 67% Cu, 500 g/t Ag at Andalusite

2019-01-09 08:12 ET - News Release

Mr. Paul Reynolds reports

TRIUMPH GOLD TRIPLES PROPERTY SIZE AT ANDALUSITE PEAK IN NW BRITISH COLUMBIA AFTER IDENTIFYING EXTENSIVE CU-AU-AG MINERALIZATION WITH GRADES UP TO 67% CU, 500 G/T AG AND 2.8 G/T AU

Triumph Gold Corp. has released the results from two days of prospecting and alteration mapping conducted in July of 2018 on the Andalusite Peak property in northwestern British Columbia, Canada. Based on positive results from the sampling campaign Triumph Gold increased the Andalusite Peak land package from 9.87 square kilometres to 31.67 square km via staking. Highlights of results include:

  • Two copper-gold-silver (Cu-Au-Ag) mineralized trends have been delineated, with grades in grab samples up to 67 per cent Cu, 500 grams per tonne Ag (sample C00030474) and 2.8 g/t Au (sample C00030466).
  • The strike length of the Gentleman/Julep trend has been expanded from 140 metres defined in 2017, to at least 550 metres. This trend is now defined by seven samples with greater than 0.5 per cent Cu, and grades up to 3.3 per cent Cu, 22.1 g/t Ag and 2.8 g/t Au.
  • A newly identified, 1,000-by-300-metre mineralized trend (the Tennessee trend) has been delineated on a ridge 1.5 kilometres west of the Gentleman/Julep trend. This trend is defined by 15 new and historical samples with greater than 0.5 per cent Cu, including grades up to 67 per cent Cu, 500 g/t Ag and 2.8 g/t Au.
  • Geological mapping has provided better definition of extensive high-temperature intermediate and advanced argillic alteration that locally overprints early quartz magnetite veining.

Tables contain all 2018 samples collected within the Tennessee trend and the Gentleman/Julep trend respectively. Maps highlighting the location of the property, alteration corridor and mineralized trends are on Triumph Gold's website. Grab samples are selective in nature, and the reported mineralization and assay results may not be representative.

  2018 SAMPLE RESULTS FROM THE TENNESSEE TREND

Sample ID         Cu (%)    Au (g/t)    Ag (g/t)

C00030474          67.0       0.569       500.0
C00030466         2.420       2.770        17.0
C00030407         1.870       0.427        27.0
C00030409         1.830       0.038        25.0
C00030476         1.430       0.040         9.0
C00030469         1.300       0.179         5.0
100158            1.239       0.158         4.5
100159            1.154       0.235        12.1
C00030410         1.040       0.009         2.0
C00030467         1.000       0.092         6.0
C00030470         0.627       0.078        <2.0
C00030411         0.606       0.086        19.0
C00030479         0.520       0.044         4.0
C00030408         0.500       0.016        <2.0
C00030477         0.493       0.005        <2.0
C00030468         0.392       0.089         4.0
C00030471         0.359       0.025        <2.0
C00030472         0.349       0.032        <2.0
C00030475         0.295       0.005         2.0
C00030473         0.259       0.050        <2.0
100157            0.251       0.100         3.5
100160            0.248       0.034         1.9
C00030478         0.234       0.015         5.0
100156            0.036       0.008         0.9
C00030480         0.002       0.186        <2.0

 2018 SAMPLE RESULTS FROM THE GENTLEMAN/JULEP TREND

Sample ID           Cu (%)     Au (g/t)     Ag (g/t)

100152              3.329        2.845         22.1
C00030461           0.657        0.147         11.0
C00030462           0.610        0.085          8.0
100155              0.582        0.082          3.7
C00030406           0.381        0.057         <2.0
100153              0.346        0.138         12.5
100047              0.323        0.183          5.1
100151              0.251        0.089          3.5
C00030464           0.185        0.076          4.0
C00030460           0.172        0.040          2.0
C00030459           0.160        0.029         <2.0
C00030465           0.036        0.000         <2.0
100049              0.001        0.002         <0.1
C00030405           0.001       <0.005         <2.0

Paul Reynolds, Triumph Gold's president and chief executive officer, comments: "Andalusite Peak is an exciting, early-stage pipeline project that has been developed utilizing the same strategies that led to the exceptional success we had drilling our flagship Freegold Mountain project this past year. I congratulate our technical team for their systematic approach to exploration that has resulted in multiple new discoveries during 2018."

The Andalusite Peak property was staked by Triumph Gold in January, 2017, to cover an alteration blowout (a portion of an alteration zone with increased width and alteration intensity) near the centre of a 27-kilometre-long corridor of intermediate to advanced argillic alteration that was identified and mapped in 2016 by B.C. Geological Survey geologist Bram van Straaten. Work by Triumph Gold geologists in 2017 verified the alteration zone and identified mineralization in two locations (the Gentleman and Julep showings), south of the alteration zone, with grab samples that graded up to 1.8 g/t Au, 21 g/t Ag and 2.25 per cent Cu (see press release dated Jan. 22, 2018). Sampling in 2018 focused on the area south of the alteration zone and was conducted on two ridge lines, the one that hosts the Julep and Gentleman showings, and another parallel ridge 1.5 kilometres to the west where historical grab samples graded up to 3.04 per cent Cu, 68.9 g/t Ag and 0.23 g/t Au (B.C. assessment report No. 30590). On the eastern ridge the Gentleman/Julep mineralized trend is now defined over a distance of 550 metres and remains unexplored along the ridge to the south or down-slope to the east and west. On the western ridge, the Tennessee mineralized trend extends at least one kilometre along the ridge, was sampled on both sides of a plateau where the ridge widens to 300 metres and is open in all directions.

Mineralization on both ridges comprises veins and volcanic-breccia-fill with quartz plus or minus calcite plus or minus epidote plus or minus actinolite plus or minus chlorite gangue and variable proportions of chalcopyrite, bornite, chalcocite, malachite and azurite. Copper-bearing minerals also occur along fractures, filling vesicles and disseminated in wall rock adjacent to veins. Triumph Gold geologists interpret the mineralization on both ridgelines to be part of a single very large mineralized zone greater than one by 1.5 kilometres in area.

Evidence for a porphyry system

Geological mapping by Triumph and regional mapping and geophysical surveys provide important evidence that the Andalusite Peak property is highly prospective for an underlying porphyry deposit:

  • The property is located in the centre of a regional scale, lithocap-style, belt of alteration, a geological environment typically associated with porphyry copper and high-sulphidation Cu-Au systems.
  • Andalusite Peak contains the most extensive and highest-grade Cu-Au-Ag mineralization documented to date in the belt.
  • The property is centred on one of three known blowouts in the belt. The other two have seen more advanced exploration that has identified porphyry-style alteration and Cu-Au-Mo mineralization below the lithocap (Kaizen Discovery's Tanzilla property eight km to the northwest, and Teck's McBride property nine km to the southeast).
  • The alteration mineral assemblage (quartz-andalusite-pyrophyllite) documented in the Andalusite Peak alteration zone represents the highest-temperature advanced argillic alteration identified in the belt.
  • Quartz-magnetite veins mapped by Triumph within the alteration zone indicate possible proximity to a high-temperature mineralized core zone/causative intrusion.
  • The property is underlain by a 10-kilometre-long trend with high magnetic response, indicating potential for a buried oxidized (magnetite bearing) intrusive body.

Triumph triples Andalusite Peak land position through staking

As a result of the positive 2018 sampling program, and verification of extensive high-grade Cu-Ag-Au mineralization on the Andalusite Peak property, Triumph Gold has tripled its land position via staking. The 31.67 square km Andalusite Peak property now encompasses the full argillic alteration blowout and an approximately 8.5-kilometre strike length of ground south of the alteration zone. The new ground includes ridges, spurs and valleys adjoining and between the ridges that host the Gentleman/Julep trend and the Tennessee trend. It also encompasses significant magnetic anomalies and the Wolf Minfile showing (BC Minfile ID No. 104I056), which includes shear zones and porphyry dikes with strong Cu plus or minus Ag mineralization (two contiguous chip samples averaging 1.35 per cent Cu over 10.3 metres), located across a valley 3.3 km east of the Gentleman/Julep trend. Historical (1972) assays for the Wolf showing have not been verified by Triumph Gold.

Methods

Two batches of samples were collected on the Andalusite Peak property, and they were analyzed by two labs, but using roughly equivalent techniques: samples with ID format C00030XXX were analyzed by ALS Global in North Vancouver, B.C.; samples with ID format 1000XX were analyzed by Bureau Veritas in Vancouver, B.C. Samples at the SGS lab 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). 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 ore grade four-acid digestion and a higher range of detection (method GA AAS42S), and overlimit samples by that technique were retested using X-ray florescence (method GO XRF77B). Samples submitted to the Bureau Veritas lab were prepared for analysis according to Bureau Veritas method PRP70-250: each sample was crushed, and a 250 g split was pulverized to passing a 200 mesh. Gold was tested by fire assay with an atomic emission spectroscopy finish on a 30 g nominal sample (method FA330-Au). An additional 45 elements were tested by ICP-AES using a four-acid digestion (method MA200), overlimit samples for copper were retested using the same technique but with ore grade four-acid digestion and a higher range of detection (method MA370). Quality assurance and quality control (QAQC) at both labs are maintained through rigorous use of internal standards, blanks and duplicates.

Qualified person

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, 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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