Triumph Gold Reports Results from Diamond Drilling of the Nucleus Au-Ag-Cu Deposit, Freegold Mountain Property, Yukon

 

TSX.V: TIG
OTCMKTS: TIGCF
Frankfurt: 8N61

VANCOUVER, Jan. 18, 2018 /CNW/ - Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: TIGCF) ("Triumph Gold" or the "Company") is pleased to announce the results from 4,685 meters of diamond drilling in sixteen holes targeting the Nucleus Au-Ag-Cu deposit area on the Freegold Mountain Property, Yukon Territory.  Highlights from the drill campaign include:

• Three high-grade gold intersections:
• 18.5 grams/tonne (g/t) Au over 1.5 metres in N17-02 (174.50 – 176.00m)
• 11.35 g/t Au and 7.3 g/t Ag over 1.44 metres in N17-07 (132.46 – 133.90m)
• 10.2 g/t Au over 1.1 metres in N17-12 (111.00 – 112.10m)
• Six infill drill holes tested underexplored portions of the Nucleus resource area where there are significant gaps in the current resource block-model. Each intersected zones of gold mineralization with grades that exceed the deposit average (0.544 g/t Au at a 0.3 g/t AuEq* cutoff), including:
• 21.9 meters of 1.545 g/t Au in N17-02 (173.1 – 195.00m)
• 42.14 meters of 0.799 g/t Au and 0.137% Cu in N17-03 (47.86 – 90.00m)
• 11.14 meters of 2.696 g/t Au in N17-07 (126.86 – 138.00m)
• 17.73 meters of 1.797 g/t Au in N17-12 (99.00 – 116.73m)
• 30.00 metres of 0.701 g/t Au also in N17-12 (212.00 – 242.00m)
• Five step-out drill holes that tested for extensions of Nucleus mineralization to the north, south and east of the current resource area intersected zones of gold mineralization that exceed the 0.3 g/t AuEq* cutoff grade of the deposit including:
• 12.00 metres of 1.005 g/t Au in N17-01 (165.00-177.00m)
• 29.20 metres of 0.485 g/t Au and 0.185% Cu in N17-06A (66.80 – 96.00m)
• N17-10, which tested a previously undrilled 1.0 X 0.7 kilometre chargeability anomaly that lies north of the current Nucleus resource, bottomed in mineralization:
• 21.53 metres of 0.513 g/t Au (453.00 – 474.53m) including 9.53 metres of 1.089 g/t Au (465.00 – 474.53m).

Drill hole locations and orientations are listed in Table 1 below and illustrated on Figure 1.  Highlights of the drill program noted above are in Table 2 along with a full list of significant results.

Table 1 Location and Orientation of 2017 Diamond Drill Holes Testing the Nucleus Area

 

Table 2 Significant Results from 2017 Drilling at Nucleus

 

The Nucleus Au-Ag-Cu deposit is the most advanced exploration target on the Freegold Mountain property.  It consists of polyphase quartz-chalcopyrite-pyrite-arsenopyrite veins, infill breccia and semi- to massive-sulfide lenses.  It has a current indicated resource of 74,740,000 tonnes containing 1,310,000 ounces (ozs) Au, 2,180,000 ozs silver, and 105,340,000 lbs copper and an inferred resource of 63,790,000 tonnes containing 800,000 ozs gold, 3,150,000 ozs silver and 69,160,000 lbs copper both at a 0.30 g/t AuEq* cut-off grade (December 15, 2014).

The 2017 drill campaign at Nucleus included 4,685 meters of diamond drilling in sixteen holes.  There were three components:

1. Six drill holes totalling 1,580 metres were drilled within the outline of the resources, but in areas with the lowest historical drill density, to test the resource, as well as infill prominent gaps in the block model; each of these drill holes intersected gold mineralization that exceeds the average grade of the deposit, indicating an opportunity to both grow, and improve the grade, of the resource with infill drilling. 
2. Nine drill holes totalling 1,879 metres comprised stepouts from the current resource, designed to test for extensions of the mineralized structures to the north, south and east of the current resource shell.  Five of the seven holes intersected gold mineralization that exceeds the cutoff grade of the current resource (0.3 g/t AuEq*).  This affirms the potential to grow the resource through stepout drilling.
3. Three drill holes totaling 1,226 metres tested sizable buried chargeability anomalies with coincident Au-As in soil anomalies that lie north of the Nucleus deposit. The most significant results are from drill hole N17-10 which bottomed in mineralization, with the lowermost sample grading 2.09 g/t Au over 1.53 metres, within a 21.53 metre interval grading 0.567 g/t Au (Table 1). Each of the three drill holes intersected strongly phyllic altered microgranite with a high proportion of pyrite, arsenopyrite and pyrrhotite, disseminated and in stockwork veins. The style of alteration, mineralization and veining suggests a genetic link to the porphyry-related mineralization identified approximately 1 km to the east in the Keirsten Zone and farther eastwards at Revenue and the Blue Sky zone (PR-17-13 dated Nov. 2, 2017), demonstrating the effect of the Revenue porphyry system over a strike-length of 4.36 km

Six Infill and extension drill holes partly distributed along three north-oriented fences (a western and eastern fence) tested the under-explored southern portion of the Nucleus area.  They defined continuity of four west striking and steeply south dipping gold-bearing structures over an up to 350 metre strike-length (Table 3). The structures are open to the west, to depth, and to the east. In each case these discrete structures contain gold mineralization related to zones of faulting, alteration and quartz-feldspar-porphyry dyke emplacement.  The now well-defined structures lie south of the main Nucleus resource and most of the noted intersections are either outside or within gaps in the current resource.

Table 3 List of Intersections*** that Define Continuity of Mineralized Structures on Nucleus South

 

President's Comment:

Paul Reynolds, Triumph Gold Corp.'s President and CEO, comments: "Drilling at Nucleus in 2017 established the potential for increasing the size and grade of the Nucleus resource through infill and step out drilling.  Every hole that was drilled within the resource shell intersected broad zones of gold mineralization with grades that exceed the deposit average. In addition, six new drill holes in the underexplored southern portion of the resource demonstrated remarkable continuity of previously poorly understood gold-bearing structures, which we now feel confident and excited, to drill in broad step outs beyond the current resource shell."

http://www.triumphgoldcorp.com/projects/freegold-mountain/revenue-deposit/maps/

Notes:

* Gold Equivalent [AuEq] is used for illustrative purposes, to express the combined value of gold, silver and copper as a percentage of gold.  No allowances have been made for recovery losses that would occur in a mining scenario.  AuEq is calculated on the basis of US$2.90 per pound of copper, US$1,250 per troy ounce of gold and US$22.00 per troy ounce of silver.  The values used reflect the commodity prices at the effective date of the NI 43-101 resource (Dec 15, 2014).

** Coordinates are given in North American Datum 83 (NAD83), Zone 8.

*** Length/interval refer to drill hole intercept.  True widths have not been determined.

Methods and Qualified Person

Drill core samples ranged between 1 and 2 meters length and were cut at Triumph's core logging facility on the Freegold Mountain Property. The samples were analyzed by ALS Global of North Vancouver, British Columbia.  They were prepared for analysis according to ALS method PREP35: each sample was crushed to 70% passing 2mm and a 250g split was pulverized to better than 95% passing 106 micron mesh.  Gold was tested by fire assay with atomic absorption finish on a 30g 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), over limit 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 control (QAQC) is maintained at the lab through rigorous use of internal standards, blanks and duplicates.  An additional QAQC program was administered by Triumph Gold: at minimum one in ten samples submitted by Triumph Gold was a blank or certified reference standard.  QAQC samples that returned unacceptable values triggered investigations into the results and reanalyses of the samples that were tested in the batch with the failed QAQC sample. Where contamination or analytical error were suspected the original data were discarded and superseded by the results of the reanalyses.

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

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.

SOURCE Triumph Gold Corp.

View original content with multimedia: http://www.newswire.ca/en/releases/archive/January2018/18/c3591.html