Triumph Gold Commences a Landmark Drill Program on the Freegold Mountain Property, Yukon, Testing Beneath the Gold Rich Blue Sky Porphyry and WAu Breccia
VANCOUVER, British Columbia, June 18, 2019 (GLOBE NEWSWIRE) — Triumph Gold Corp., (TIG.V) (TIGCF) (“Triumph Gold” or the “Company”) is pleased to announce that a powerful drill capable of reaching depths of 2,000 metres has been mobilized onto the company’s 100% owned, road accessible, Freegold Mountain Property in the Yukon Territory. Phase I drilling will comprise a minimum of 5,000 metres in five holes that target high grade, gold rich, copper gold porphyry style mineralization intersected during the 2018 drill program.
Highlights of the program include:
- Testing the down dip extension of high grade, gold rich, porphyry style mineralization in the Blue Sky Zone to a depth of approximately 1,600 metres.
- Testing the down dip extension of high grade, gold rich, breccia style mineralization and surrounding porphyry mineralization at the WAu Breccia to a depth of approximately 1,000 metres.
- Testing a 2.8 kilometre long, intense chargeability anomaly (Big Red), which underlies the core of a six kilometre long multi-element soil anomaly that delineates a porphyry related hydrothermal system and encompasses the Nucleus, Revenue, Blue Sky and related zones. A 1,000 metre deep drill hole collared approximately two kilometres west of the Blue Sky Zone is planned to test this anomaly.
The target of Phase I drilling is a buried copper gold porphyry that has not been previously tested by drilling. Interpretation of integrated geophysical data from induced polarization (IP), magnetotelluric (MT) and magnetic surveys suggests that a deep porphyry target, over 400 metres below the Revenue and Nucleus gold and copper deposits, cores a six kilometre long coincident geophysical and multi-element soil anomaly. Geology and isotopic age dating indicate that a Late Cretaceous, gold rich, porphyry related mineralizing event generated the near surface Nucleus, Blue Sky, WAu Breccia, Keirsten, Revenue West, Granger and Guder zones. However, since only relatively small porphyry dykes of that age are associated with these zones, a larger causative porphyry intrusion may be buried beneath the current depth of drilling along the six kilometre long mineralized area. In most porphyry deposits the highest grade, most voluminous and continuous mineralization is contained near the interface between the causative intrusion and surrounding rock; that is the area being targeted by the Phase I drill campaign.
Drilling will be focused in three areas: The Blue Sky Zone, the WAu Breccia, and Revenue West. The Blue Sky Zone and WAu Breccia represent areas where high grade mineralization is hosted in broken and altered Middle Cretaceous granite. Triumph’s geologists believe that these mineralized zones, which have regular and predictable geometry, are the best vectors into the causative intrusion that lies beneath. Drilling at Revenue West will test a 500 metre deep chargeability anomaly that coincides with the proposed location of the mineralized zone at the interface with the causative intrusion.
Combined, the three target areas test across an approximately two kilometre strike length, and beneath mineralization that generated high grade, gold and copper intersections, including the Blue Sky Porphyry, which produced some of the highest grade greenfield exploration, porphyry related intersections globally in 2018.
Abbreviated highlights of historical results from the Blue Sky Porphyry, and WAu Breccia are listed in Table 1. Full results are documented in PR18-07 dated July 31, 2018 and PR18-09 dated September 12, 2018. For more detailed information about the six kilometre long target area, the Blue Sky Porphyry, WAu Breccia and Big Red, see Triumph Gold’s Corporate Presentation.
Table 1. Abbreviated Highlights of Historical Drilling at Blue Sky Porphyry and WAu Breccia;
| Drill hole | Length (metre) | Gold (g/t) | Silver (g/t) | Copper (%) | Mo (%) |
| Blue Sky Porphyry | |||||
| RVD18-19 | 316.00 | 1.10 | 5.0 | 0.270 | 0.020 |
| Including | 79.75 | 2.48 | 6.9 | 0.378 | 0.017 |
| RVD18-17 | 125.13 | 1.24 | 7.0 | 0.310 | 0.010 |
| RVD18-16 | 94.50 | 1.53 | 5.8 | 0.279 | 0.013 |
| WAu Breccia | |||||
| RVD11-19 | 76.34 | 1.40 | 9.2 | 0.210 | 0.032 |
| RVD11-28 | 41.95 | 0.86 | 10.3 | 0.360 | 0.120 |
| RVD17-12 | 40.00 | 1.18 | 8.3 | 0.240 | 0.130 |
| RVD18-11 | 43.02 | 0.81 | 6.0 | 0.329 | 0.009 |
| g/t = gram/tonne | |||||
Triumph Gold’s Executive Chairman John Anderson comments, “With the technical data to back up this amazing exploration story, Triumph is swinging for the fences this year. The upside for our investors is the possible discovery of a previously untested buried copper gold porphyry system that by all indications could be world class in size and grade.”
Qualified Person
The technical content of this news release has been reviewed and approved by Tony Barresi, Ph.D., P.Geo., VP Exploration for the company, and qualified person as defined by National Instrument 43-101.
About Triumph Gold Corp.
Triumph Gold Corp. is a growth oriented Canadian-based precious metals exploration and development company. Triumph Gold Corp. is focused on creating value through the advancement of the district scale Freegold Mountain project in Yukon. For maps and more information, please visit our website www.triumphgoldcorp.com
On behalf of the Board of Directors
Signed « Paul Reynolds »
Paul Reynolds, President & CEO
| For further information please contact: John Anderson, Executive Chairman Triumph Gold Corp. (604) 218-7400 janderson@triumphgoldcorp.com |
Nancy Massicotte IR Pro Communications Inc. (604)-507-3377 nancy@irprocommunications.com |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.