Triumph Gold Corp. (TSX-V:TIG) (OTCMKTS:NFRGF) (the “Company”) has commenced a 13,000 metre diamond drill program at its road accessible Freegold Mountain project in the Dawson Range, Yukon. The program will test several new drill targets identified during 2016 field exploration and data review. The 2016 work focused on identifying geological controls on mineralization at the Revenue and Nucleus porphyry deposits on the Freegold Mountain Property. These studies recognized an early stage of porphyry-style mineralization that was not targeted during past exploration. The work defined three new exploration targets, one each at Revenue and Nucleus, and a newly identified porphyry target at the Generation Zone.
Drilling is now underway at the Generation Zone, a newly recognized porphyry Cu-Au system. It is located approximately 800 metres north of the Revenue diatreme in an area with deep overburden. The Generation Zone is exposed in Revenue Creek as a result of historical placer mining activity and consists of multiple generations of dense stockwork veining including 2 mm to 5 cm quartz ± magnetite ± pyrite ± chalcopyrite ± bornite veins, early epidote veins, and a single 1.5 m thick quartz-pyrite-chalcopyrite vein. The veins have strongly sodic and potassic altered selvages. The Generation Zone is centered above a 2.9 X 1.3 km chargeability high (up to 64 milliradians) with a modeled depth approximately 150 m beneath surface. Nine historical samples collected from the Generation Zone assay between 60 and 2,980 parts per million (ppm) Cu and 5 to 212 parts per billion (ppb) Au, with an average grade of 706 ppm Cu and 38 ppb gold. The identification of high density stockwork with multiple vein events, high temperature alteration, and associated copper and gold mineralization indicates that the Generation Zone represents a high-temperature core to a porphyry Cu-Au system. Triumph plans 2,000 metres of drilling to test this zone.
A second drill will be mobilized within a week and begin drilling at the Revenue and adjacent Blue Sky Zones. At Revenue, past exploration focused on the mineralized margin of an approximately 1 km long elliptical diatreme. The 2016 work program identified high-temperature potassic alteration and dense quartz-pyrite-chalcopyrite-molybdenite stockwork veining related to a hydrothermal system that predates emplacement of the diatreme. Historical drill holes RVD11-019, RVD11-022, and RVD11-028 were collared 165 m east of the diatreme and drilled away from, or parallel to, the diatreme, and each intersected broad intervals of mineralization related to the early hydrothermal system (e.g. RVD11-028 0.17% Cu, 0.29 grams/tonne (g/t) Au over 125.07 m [83.23 – 208.30 m]; RVD11-019 0.12% Cu, 0.18 g/t Au over 144.80 m [30.50 – 175.30 m); RVD11-022 0.13% Cu, 0.28 g/t Au over 243.60 m [61.10 – 304.70 m]). Mineralized intervals in drill holes RVD11-019 and RVD11-028 are contained within broader and higher grade sections where second stage mineralization, related to emplacement of a pyroclastic dyke, is superimposed on the earlier stage porphyry mineralization (e.g. RVD11-019 0.16% Cu, 0.66 g/t Au over 196.02 m [368.88 – 476.94 m]; RVD11-028 0.22% Cu, 0.47 g/t Au over 144.80 m [112.20 – 257.00 m]). The porphyry style mineralization encountered in these drill holes is open to the north, south and east; to the west it is overprinted by the Revenue diatreme. The newly recognized highly-prospective area, named the Blue-Sky Zone, covers over 2.3 km2 with coincident Cu and Mo soil anomalies and four notable chargeability anomalies. The Company plans 5,000 metres to test these areas. Drilling at the Revenue and Blue Sky Zones will constitute significant step outs, up to 1.5 km, from the current resource areas at Revenue.
Other areas that will be drill tested include the Nucleus Zone (4,000m) and a soil and geophysical anomaly that extends 2 km along strike between the Nucleus and Revenue deposit areas (2,000 m). The Nucleus deposit involves several superimposed deposit types. Past exploration primarily focused on narrow high grade gold zones at the southern margin of a leucogranite intrusion. The 2016 field work identified the leucogranite as a causative intrusion for early stage porphyry-style gold and copper mineralization that is overprinted by later mineralization related to emplacement of quartz-feldspar-porphyry dykes. Most of the greater than 20 m long drill intersections at Nucleus, with good gold and copper mineralization, are located at the contact between the leucogranite and surrounding metamorphic country rock. Mineralization along this highly-prospective contact is open to the north along both the eastern and western margins of the intrusion. Some of the northernmost drill holes that test the contact have encouraging results including, GRD06-022, which intersected an average grade of 0.22% Cu and 0.72 ppm Au over 46.30 m, GRDN01-03 which intersected an average grade of 1.19 g/t Au over 87.47 m, and GRD08-096 which intersected an average grade of 0.13% Cu and 0.23 g/t Au over 39.55 m. Greater than 2.5 km’s of the leucogranite contact is untested by drilling and defines a new exploration opportunity at Nucleus.
The technical content of this news release has been reviewed and approved by Tony Barresi, Ph.D., P.Geo, Vice President Exploration of the company and qualified person for the purposes of National Instrument 43-101 — Standards of Disclosure for Mineral Properties of the Canadian Securities Administrators.
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, Chairman Triumph Gold Corp. (604) 283-0896 [email protected] |
Nancy Massicotte IR Pro Communications Inc. (604)-507-3377 [email protected] |
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.
