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Triumph Gold Corp (2)
Symbol TIG
Shares Issued 60,734,537
Close 2017-10-18 C$ 0.365
Market Cap C$ 22,168,106
Recent Sedar Documents

Triumph Gold drills 245 m of 0.59 g/t AuEq at Revenue

2017-10-19 09:25 ET - News Release

Mr. Paul Reynolds reports

TRIUMPH GOLD ANNOUNCES MULTIPLE DIAMOND DRILL HOLE INTERSECTIONS OF AU-CU MINERALIZATION ON EASTERN MARGIN OF THE REVENUE DIATREME INCLUDING 58.65 METRES OF 1.48 G/T GOLD EQUIVALENT* at 0.971 GRAMS/TONNE AU AND 0.22% CU

Triumph Gold Corp.'s diamond drilling along the relatively underexplored eastern margin of the Revenue diatreme has been rewarded with multiple intersections of copper-gold-silver plus or minus molybdenum mineralization. Recent geological reviews of mineralization in the Revenue area, aided by development of a 3-D geological model of the 1,300- by 400-metre elliptical Revenue diatreme, targeted the eastern portion of the diatreme as most prospective for gold and copper mineralization. The 2017 exploration program at Revenue was designed to test the eastern area with five drill holes totalling 2,032 metres.

Three drill holes that collared farthest to the east intersected strong copper-gold mineralization. Highlights are shown in the table.

    LENGTH** WEIGHTED DRILL INTERCEPTS -- EASTERN REVENUE DIATREME -- 2017 DIAMOND DRILL PROGRAM
  
Hole        From (m)   To (m)  Length (m)** Au (g/t)  Ag (g/t)   Cu (%)   Mo (%)   AuEq (g/t)*  CuEq (%)*

RVD17-12      71.00   316.00      245.00      0.332      3.08    0.112    0.008         0.59       0.37
Including    251.35   310.00       58.65      0.971      7.38    0.218    0.014         1.48       0.94
RVD17-10      36.00   104.00       68.00      0.641      1.86    0.075    0.007         0.82       0.52
Including     40.00    70.00       30.00      1.060      2.16    0.083    0.007         1.26       0.79
And          180.00   210.00       30.00      0.199      3.45    0.047      n/a         0.32       0.20
And          347.50   353.50        6.00      0.560      6.98    0.090    0.020         0.89       0.56
RVD17-08      64.00    86.00       22.00      0.503      2.93    0.176    0.007         0.86       0.54
And          308.00   313.00        5.00      0.874     10.88    0.290      n/a         1.48       0.94

* Copper equivalent and gold equivalent are used for illustrative purposes, to express the combined 
value of copper, gold, silver and molybdenum as a percentage of either copper or gold. No allowances 
have been made for recovery losses that would occur in a mining scenario. CuEq and AuEq are calculated 
on the basis of $3.10 (U.S.) per pound of copper, $1,305 (U.S.) per troy ounce of gold, $17.40 (U.S.) 
per troy ounce of silver and $7 (U.S.) per pound of molybdenum oxide.
** Length refers to drill hole intercept. True widths have not been determined.

Other notable historic intersections near the eastern portion of the diatreme include RVD11-19 (70.48 metres at 1.489 grams per tonne gold and 0.22 per cent copper), RVD11-022 (55.45 m at 0.418 g/t Au and 0.19 per cent Cu), GRDR91-01 (95.71 m at 0.681 g/t Au and 0.29 per cent Cu), RVD11-031 (37.3 m at 0.645 g/t Au and 0.22 per cent Cu) and RVRC10-017 (47.24 m at 0.633 g/t Au and 0.15 per cent Cu).

Geological highlights of the drill program include:

  • Identification of an oxidized breccia/deep weathering zone with significant gold from the bedrock surface to 68 m depth (RVD17-10: 68 m at 0.64 g/t Au). This intersection is in an area that has not been explored for near surface mineralization, in part due to absence of a gold-in-soil anomaly, which is now attributed to thick overburden. Samples from this interval are being sent for metallurgical testing to determine if gold can be extracted via cyanide leach;
  • In RVD17-12, a broad intersection (approximately 180 metres long) of porphyry style stockwork veining with potassic and phyllic alteration, adjacent to, and beneath the surface expression of, the Revenue diatreme;
  • The intersection of a high-grade breccia zone in RVD17-12 (58.65 m at 1.48 g/t gold equivalent), which is interpreted to be a continuation of hydrothermal breccias encountered in RVD11-22 and RVD11-28, defining at least 120 m strike length of high-grade mineralization that is open at depth and contained within a broad lower-grade envelope;
  • At least three types of superimposed mineralization, including:
    1. Early porphyry style mineralization;
    2. Late hydrothermal breccias and replacement style mineralization;
    3. Near surface enrichment of gold.

Paul Reynolds, Triumph Gold's president and chief executive officer, states: "We are very encouraged by these results. Each of the styles of mineralization encountered at Revenue could be a stand-alone target, but along the eastern margin of the Revenue diatreme, where we have discovered that they are superimposed, there is an exceptional opportunity to explore for a high-grade, near surface Au-Cu resource."

Tony Barresi, vice-president of exploration, commented: "A major objective of the 2017 drill program near Revenue was to demonstrate through broad stepouts that the Revenue diatreme was only one part of a very large porphyry-related mineralizing system. The idea was tested with drilling at the Generation zone, Blue Sky zone and Keirsten zone which extend approximately one kilometre to the north, east and west of the Revenue diatreme, respectively. In this news release we have documented results from drilling along the eastern margin of the diatreme, where we encountered strong porphyry style mineralization beneath the diatreme, suggesting that the diatreme was emplaced within a corridor of pre-existing porphyry style mineralization. We also document weak porphyry mineralization at the Generation zone, over one kilometre to the north. In future news releases, as results from the Blue Sky and Keirsten zones become available, we expect to be expanding on the story of our discovery of broad porphyry mineralization at Revenue."

Drill holes RVD17-05 and RVD17-04 are 100- and 200-metre stepouts (respectively) to the northwest of RVD17-08 and the prospective eastern margin of the diatreme. They intersected copper and gold mineralization but the intersections are considerably shorter and/or lower grade than the drill holes farther east.

   LENGTH** WEIGHTED DRILL INTERCEPTS -- EAST-CENTRAL REVENUE DIATREME -- 2017 DIAMOND DRILL PROGRAM
  
Hole         From (m)   To (m)  Length (m)** Au (g/t)  Ag (g/t)   Cu (%)   Mo (%)   AuEq (g/t)*  CuEq (%)*

RVD17-04        2.64     8.00        5.36      0.273      0.46    0.014      n/a         0.30       0.19
And           192.00   209.00       17.00      0.158      1.76    0.098    0.013         0.40       0.25
And           316.62   319.20        2.58      0.306      6.26    0.310    0.004         0.90       0.57
RVD17-05      113.00   115.00        2.00      0.648      6.70    0.269    0.005         1.19       0.75
And           341.00   365.76       24.76      0.129      0.99    0.044    0.004         0.23       0.15
Including     364.00   365.76        1.76      0.545      1.20    0.055    0.003         0.66       0.42
     
* Copper equivalent and gold equivalent are used for illustrative purposes, to express the combined 
value of copper, gold, silver and molybdenum as a percentage of either copper or gold. No allowances 
have been made for recovery losses that would occur in a mining scenario. CuEq and AuEq are calculated 
on the basis of $3.10 (U.S.) per pound of copper, $1,305 (U.S.) per troy ounce of gold, $17.40 (U.S.) 
per troy ounce of silver and $7 (U.S.) per pound of molybdenum oxide.
** Length refers to drill hole intercept. True widths have not been determined.

Generation zone drill results

The Generation zone was recognized in 2016 as a porphyry exploration target based on dense mineralized stockwork and alteration in limited surface outcrop and corresponding induced polarization chargeability highs at depth. Exploration in 2017 included three diamond drill holes totalling 1,284 metres. All three drill holes encountered diffuse zones of low-grade porphyry style mineralization. A follow-up structural geology study was conducted by independent consultant Dr. Stefan Kruse, PhD, PGeo, to determine if there is a structural explanation for the presence of rocks affected by a vigorous hydrothermal system at surface, but not at depth. The study concluded, based on limited structural observations, that an east dipping normal fault may underlie the Generation zone and truncate the strongly altered and well-mineralized zone seen at surface. According to this model a depth extension of the Generation zone would be offset to the west of the surface exposures and 2017 drilling.

         LENGTH** WEIGHTED DRILL INTERCEPTS -- GENERATION ZONE -- 2017 DIAMOND DRILL PROGRAM
  
Hole        From (m)     To (m)  Length (m)**   Au (g/t)  Ag (g/t)   Cu (%)     AuEq (g/t)*    CuEq (%)*

GZ17-01      262.00     290.00       28.00        0.108      0.54    0.027           0.16         0.10
Including    272.00     274.00        2.00        0.916      0.60    0.023           0.96         0.60
GZ17-02      346.00     378.00       32.00        0.119      0.65    0.030           0.18         0.11
Including    358.07     360.00        1.93        1.470      3.60    0.096           1.67         1.06
GZ17-03        4.12     375.00      370.88        0.030      0.26    0.019           0.06         0.04
And          457.00     496.82       39.82        0.006      0.30    0.024           0.05         0.03
        
* Copper equivalent and gold equivalent are used for illustrative purposes, to express the combined 
value of copper, gold, silver and molybdenum as a percentage of either copper or gold. No allowances 
have been made for recovery losses that would occur in a mining scenario. CuEq and AuEq are calculated 
on the basis of $3.10 (U.S.) per pound of copper, $1,305 (U.S.) per troy ounce of gold, $17.40 (U.S.) 
per troy ounce of silver and $7 (U.S.) per pound of molybdenum oxide.
** Length refers to drill hole intercept. True widths have not been determined.

Methods and qualified person

Drill core samples ranged between one and two m length and were cut at Triumph's core logging facility on the Freegold Mountain property. The samples were analyzed by ALS Global of Vancouver, B.C. They were prepared for analysis according to ALS method PREP35: Each sample was crushed to 70 per cent passing two millimetres and a 250-gram split was pulverized to better than 95 per cent passing 106-micron mesh. Gold was tested by fire assay with atomic absorption finish on a 30 g nominal sample (method Au-AA23), and samples that tested over 10 g/t Au were retested using fire assay with a gravimetric finish (method Au-GRA21). An additional 35 elements were tested by ICP-AES using an aqua regia digestion (method ME-ICP41), overlimit samples for copper were retested using the same technique but with assay grade aqua regia digestion and a higher range of detection (method ME-OG46). Quality assurance and quality control 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 one in 10 samples submitted by Triumph Gold was a blank or certified reference standard. QA/QC samples that returned unacceptable values triggered 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, 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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