Mr. Paul Reynolds reports
TRIUMPH GOLD ANNOUNCES DRILL RESULTS DEMONSTRATING PORPHYRY MINERALIZATION OVER 2.85 KM STRIKE LENGTH, INCLUDING 57M OF 1.01 G/T GOLD AND 0.285% COPPER IN RVD17-13, AND DISCOVERY OF A NEW GOLD SHOWING
Triumph Gold Corp.'s prospecting and stepout drilling to the east and west of the Revenue diatreme have been rewarded with significant new discoveries including:
- High-grade gold-rich porphyry mineralization in multiple drill holes in the Blue Sky zone, east of the Revenue diatreme, including identification of visible gold in RVD17-01, and 57 metres of 1.72 grams per
tonne (g/t) gold equivalent* (AuEq) at 1.08 g/t gold and 0.285 per cent copper in RVD17-13;
- A corridor of high-grade, gold-rich, porphyry-style mineralization over a strike length of 450 m (including RVD1-13, previous bullet point) that extends from the eastern edge of the Revenue diatreme northeast into the Blue Sky zone; mineralization open to depth and to the northeast where it appears to increase in grade;
-
Identification of a robust porphyry-related hydrothermal system responsible for dense stockwork veining, phyllic and potassic alteration and copper-gold mineralization from surface to 603 m depth in a single drill hole collared 1.4 kilometres west of the Revenue diatreme in the Keirsten zone;
- Discovery of a new gold showing (Happy Creek showing) on the far eastern side of the Revenue/Nucleus 5.5 by 2.0 km soil/geophysical anomaly, 400 m east of any historical drilling and over one km east of the Revenue diatreme; showing defined with surface grab samples that grade up to 5.77 g/t gold and a 236 m drill intersection with a length-weighted** average gold grade of 0.238 g/t.
Triumph Gold completed 12,904 m of diamond drilling in 35 holes during 2017. Results from 17 holes totalling 7,632 m have been released to date. The remaining results will be released in the coming weeks.
Motivation for stepout drilling
A primary objective of the 2017 drill program near Revenue was to demonstrate through systematic stepouts that the Revenue diatreme is part of a larger porphyry system. The idea was tested with drilling at the Blue Sky and Keirsten zones which extend approximately one km to the east and west of the Revenue diatreme, respectively. The motivation for the broad expansion of the exploration target at Revenue was identification of porphyry-style high-grade copper-gold-silver and molybdenum mineralization that predates diatreme emplacement, in drill holes adjacent to the Revenue diatreme.
- RVD11-019: 70.48 m (179.25 to 249.73 m) of 1.489 g/t Au, 0.219 per cent copper;
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RVD11-022: 55.45 m (86.75 to 142.20 m) of 0.418 g/t Au, 0.191 per cent Cu;
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RVD11-028: 162.36 m (84.79 to 247.15 m) of 0.446 g/t Au, 0.218 per cent Cu, 0.085 per cent molybdenum.
While the diatreme is recognized as an exploration target itself, the possibility that it is surrounded by a porphyry with significant gold and copper grades remained largely untested until the 2017 drill program.
Porphyry mineralization in the Blue Sky zone
The Blue Sky zone encompasses a multielement soil anomaly that extends up to 1.5 km east of the Revenue diatreme. Relogging of core from RVD11-019, 022 and 028 in 2016 identified two stages of mineralization, including an early stage of classic porphyry-related stockwork veining with potassic alteration with good gold-copper-molybdenum grades. Stepout drilling in 2017 was designed to test for eastward extensions of that mineralization within the Blue Sky zone soil anomaly. Three drill holes that tested the Blue Sky zone intersected significant porphyry-style mineralization.
RVD17-013 was collared 350 metres northeast of drill holes RVD11-019, 22 and 28, and intersected 119 m of copper-molybdenum-gold-silver porphyry-style mineralization grading 0.60 per cent copper equivalent* (CuEq), with a 57 m thick high-grade, gold-rich core grading 1.09 per cent CuEq* at 1.083 g/t gold and 0.285 per cent copper.
RVD17-01 was collared 100 metres east of drill holes RVD11-19, 22 and 28 and intersected 148.58 m of copper-molybdenum-gold-silver porphyry-style mineralization. Average grades within the intersection include 39.58 m of 0.40 per cent CuEq* and 94.38 m of 0.48 per cent CuEq*.
RVD17-03 was drilled from the same set-up as RVD17-13 but in the opposite direction. It is interpreted to have just skimmed the edge of the mineralized zone, intersecting multiple short domains of porphyry-style mineralization and alteration including 18.60 m of 0.423 g/t gold and 0.105 per cent copper.
Together with results from RVD17-12 (news release dated Oct. 19, 2017: 245 m of 0.37 per cent CuEq* with a 58.65-metre high-grade core grading 0.971 g/t Au and 0.218 per cent Cu), and historical drill holes RVD11-19, 22 and 28, a corridor of high-grade, gold-rich, porphyry-style mineralization is now demonstrated over a strike length of 450 m. The geometry of the mineralized zone is not well understood, but at minimum it is open at depth and to the northeast where, based on results from RVD17-13, it appears to be increasing in grade.
LENGTH-WEIGHTED** DRILL INTERCEPTS -- HIGHLIGHTS FROM 2017 DRILLING
OF PORPHYRY-RELATED MINERALIZATION IN THE BLUE SKY ZONE
Hole From To Length** Au Ag Cu Mo AuEq* CuEq*
No. (m) (m) (m) (g/t) (g/t) (%) (%) (g/t) (%)
RVD17-01 315.42 355.00 39.58 0.402 1.7 0.097 0.013 0.64 0.40
including 315.42 317.00 1.58 5.750 0.7 0.041 n/a 5.82 3.68
and 369.62 464.00 94.38 0.337 3.9 0.169 0.022 0.76 0.48
RVD17-03 214.40 233.00 18.60 0.423 2.3 0.105 0.007 0.65 0.41
RVD17-13 88.00 207.00 119.00 0.614 3.4 0.154 0.010 0.95 0.60
including 112.00 169.00 57.00 1.083 6.6 0.285 0.020 1.72 1.09
including 121.00 155.00 34.00 1.605 9.2 0.388 0.019 2.44 1.54
Porphyry mineralization in the Keirsten zone
The Keirsten zone is a newly identified target area within the roughly 5.5 by 2.0 km soil and geophysical anomaly that encompasses the Revenue and Nucleus areas. The area was targeted for exploration in 2017 to test an intense chargeability and resistivity high at depth. KZ17-01 was drilled near the centre of the chargeability high. The top 193 metres of bedrock are phyllic-altered quartz-feldspar porphyry, with textures identical to the dikes that are responsible for high-grade gold mineralization at the Nucleus deposit one km to the west. Beneath the quartz-feldspar porphyry, to the end of hole at 603.50 metres, strongly veined and altered granite with complex overprinting propylitic, phyllic and potassic alteration assemblages were intersected. The granite is identical in texture and composition to granite in RVD17-12 and RVD17-13 up to 2.85 km to the east, and despite the lower grades of copper and gold in KZ17-01 compared with RVD17-12 and RVD17-13, the stockwork veining is more intense. It is of particular note in KZ17-01 that mineralization extends from the bedrock surface to the bottom of the hole at 603.50 m depth. This is indicative of a large mineralized system, yet the Keirsten zone is virtually unexplored in every direction. Encouraging results from surface samples collected from a new drill road within the zone are suggestive of nearby higher-grade gold-rich domains.
SURFACE GRAB SAMPLES WITH SIGNIFICANT
GOLD FROM THE KEIRSTEN ZONE
Sample Au Ag
(g/t) (g/t)
E446471 0.423 2.2
E446474 1.025 14.0
E446476 0.461 2.1
Dr. Tony Barresi, Triumph's vice-president, exploration, commented: "Geological results from drilling in the Keirsten zone are encouraging. While the copper and gold grades in KZ17-01 are low, the continuity of mineralization and alteration and intensity of the veining are suggestive of a large and vigorous hydrothermal system that we are eager to continue to explore in 2018."
LENGTH-WEIGHTED** DRILL INTERCEPTS -- SIGNIFICANT RESULTS (SEE ELSEWHERE FOR
RVD17-09) -- MO ONLY REPORTED WHERE COMPOSITE AVERAGE IS GREATER THAN 15 PPM
Hole From To Length** Au Ag Cu Mo AuEq* CuEq*
No. (m) (m) (m) (g/t) (g/t) (%) (%) (g/t) (%)
RVD17-01 97.00 99.00 2.00 1.475 8.8 0.362 0.002 2.18 1.37
and 315.42 355.00 39.58 0.402 1.7 0.097 0.013 0.64 0.40
including 315.42 317.00 1.58 5.750 0.7 0.041 5.82 3.68
and 369.62 464.00 94.38 0.337 3.9 0.169 0.022 0.76 0.48
RVD17-02 87.29 89.00 1.71 1.055 0.4 0.023 1.10 0.69
and 110.00 112.00 2.00 0.704 0.4 0.020 0.74 0.47
RVD17-03 28.00 30.00 2.00 1.225 4.7 0.181 1.58 1.00
and 78.00 80.00 2.00 1.130 2.6 0.129 0.003 1.38 0.87
and 162.00 174.31 12.31 0.275 2.3 0.134 0.53 0.33
and 214.40 233.00 18.60 0.423 2.3 0.105 0.007 0.65 0.41
including 216.50 220.50 4.00 0.981 3.7 0.149 0.016 1.34 0.85
and 242.98 250.14 7.16 0.257 2.4 0.128 0.007 0.53 0.33
and 312.00 313.00 1.00 4.270 1.7 0.251 4.69 2.96
RVD17-06 no significant results
RVD17-07 5.00 7.00 2.00 0.748 0.2 0.019 0.78 0.49
and 13.00 15.00 2.00 0.932 0.4 0.024 0.98 0.62
and 148.00 150.00 2.00 0.813 0.5 0.029 0.87 0.55
and 367.00 397.00 30.00 0.086 1.0 0.062 0.20 0.13
RVD17-11 17.00 18.00 1.00 0.514 48.40 1.110 2.92 1.84
and 221.00 222.00 1.00 2.820 1.5 0.119 3.04 1.92
RVD17-13 88.00 207.00 119.00 0.614 3.4 0.154 0.010 0.95 0.60
including 112.00 169.00 57.00 1.083 6.6 0.285 0.020 1.72 1.09
including 121.00 155.00 34.00 1.605 9.2 0.388 0.019 2.44 1.54
and 260.00 268.00 8.00 0.742 0.6 0.027 0.021 0.90 0.57
and 390.00 392.00 2.00 1.990 1.0 0.034 2.06 1.30
KZ17-01 50.34 603.50 553.16 0.071 0.3 0.023 0.11 0.07
including 276.00 277.50 1.50 3.710 0.6 0.023 0.004 3.78 2.39
including 343.00 363.00 20.00 0.173 0.6 0.059 0.002 0.29 0.18
Discovery of new gold showing -- the Happy Creek showing
A new zone of gold mineralization was discovered during reconnaissance prospecting and drilling within the Blue Sky zone soil anomaly. RVD17-09, which represents a 1.1 km eastward stepout into the Blue Sky zone, intersected a broad zone of gold mineralization associated with a swarm of aplite, pegmatite and lesser quartz-feldspar-porphyry dikes. The upper 29 metres of core in RVD17-09 are strongly fractured and oxidized and grade 0.510 g/t gold; the core is contained within a 269 m intersection of 0.238 g/t gold, with 10 longer than one-metre samples grading over one g/t gold. Two surface grab samples of bull quartz collected from regolith returned gold grades of 5.77 and 3.76 g/t. The location of the Happy Creek showing, and the collar of RVD17-09, represents the farthest stepout east of the Revenue diatreme to date. The showing is 1.1 km east of the Revenue diatreme and 400 metres east of any other drill holes. It is the only drill hole that has ever tested the Happy Creek drainage and mineralization is considered open in every direction.
LENGTH-WEIGHTED** DRILL INTERCEPTS -- HAPPY CREEK SHOWING
Hole From To Length** Au
No. (m) (m) (m) (g/t)
RVD17-09 21.00 290.00 269.00 0.238
including 21.00 50.00 29.00 0.510
including 35.00 37.00 2.00 1.180
including 48.00 50.00 2.00 1.380
including 82.00 83.50 1.50 1.035
including 95.00 97.00 2.00 1.435
including 105.00 106.50 1.50 3.720
including 172.78 174.00 1.22 1.530
including 208.00 210.00 2.00 1.170
including 234.00 262.00 28.00 0.341
including 248.00 250.00 2.00 1.175
including 286.00 288.00 2.00 1.035
and 387.16 389.00 1.84 3.140
SURFACE GRAB SAMPLES FROM THE HAPPY CREEK SHOWING
Sample Au Ag
(g/t) (g/t)
G286224 3.76 7.7
G286225 5.77 6.8
Dr. Barresi commented: "This new showing, which lies in the completely untested-by-drilling catchment of Happy Creek, a known placer creek, represents an exciting new exploration target. The tenor of gold mineralization encountered so far is similar to what was seen in some of the early drill holes and surface samples at Nucleus."
Summary of Revenue geology
Porphyry mineralization at Revenue extends from at least the Keirsten zone to the Blue Sky zone, and was encountered in the farthest stepout holes both east and west of the Revenue diatreme. The mineralizing system is composed of a large porphyry, at least 2.85 km in strike length, with a mineralized diatreme in its centre and the Nucleus gold deposit off its western flank. If gold mineralization encountered in the newly discovered Happy Creek showing is also porphyry related then the strike length of porphyry mineralization is increased to 3.6 km. Within the diatreme and surrounding granite there are numerous drill intersections of good copper-gold, silver and molybdenum grades; however, now with the results of 2017 drilling, there is a demonstrated zone of high-grade, gold-rich, porphyry-style mineralization that extends at least 450 metres from the eastern margin of the Revenue diatreme eastward into the Blue Sky zone, where it appears to be increasing in grade, and remains open to the northeast and depth.
President's comment
Paul Reynolds, Triumph's president and chief executive officer, commented: "New drilling in 2017 has demonstrated a vast area of porphyry-style mineralization extending at least 2.8 km from the Keirsten zone to the Blue Sky zone, both of which are new discoveries this year. In addition to defining a very large porphyry footprint we have also made numerous intersections of gold-rich high-grade porphyry mineralization (see this NR and [the NR] dated Oct. 19, 2017). The elements of size and grade are beginning to stack in our favour and the possibility that a very large porphyry deposit underlies what had previously appeared to be separate showings, is becoming more and more compelling as we continue to explore."
Notes
* 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 (inductively coupled plasma atomic emission spectrometry) 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. Barresi, 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.
We seek Safe Harbor.
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