Triumph Gold Samples 450 grams per tonne Gold in the Newly Discovered Drone Zone and Announces Results from Surface Sampling in the 6-km-long Revenue-Nucleus Soil Anomaly
VANCOUVER, British Columbia, March 21, 2019 (GLOBE NEWSWIRE) -- Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: TIGCF) (“Triumph Gold” or the “Company”) is pleased to announce the results from the 2018 surface sampling program conducted at the Drone, Granger and Blue Sky zones, within the 6-kilometre-long multi-element soil anomaly that encompasses the Revenue and Nucleus deposit areas on Triumph Gold’s 100% owned, road accessible, Freegold Mountain Property, in the Yukon Territory, Canada.
|
|||||
Highlights of results include:
- At the newly discovered Drone Zone grab and chip samples within a 100 X 25 metre area of exposed altered and mineralized bedrock and regolith contain local bonanza grade gold (Au) concentrations up to 450 grams per tonne (g/t)* and consistently anomalous to high grade copper (Cu) up to 2.09%.
- Within the Blue Sky Zone 13 new grab samples* have an average grade of 4.5 g/t Au, ranging up to 16.8 g/t Au. The Blue Sky zone was identified in 2016 as prospective for gold-rich porphyry mineralization and in 2017-2018 the high grade, gold rich Blue Sky Porphyry was discovered (e.g. RVD18-19 with 316 metres @ 1.10 g/t Au, 0.27% Cu). The 2018 grab samples were collected 400-800 metres southeast of the Blue Sky Porphyry discovery area identifying the surface expression of a new and previously untested mineralized zone.
- At the Granger Zone oxide-gold target, samples from two new trenches define gold mineralization in highly oxidized rock at surface and demonstrate continuity of mineralization between surface and intersections made in 2018 drill holes that tested beneath the trenches. Results from trenches include:
- In TR18-04, 0.70 g/t Au over 18.5 metres** including 3.26 g/t Au over 1 metre** on the southern end of the trench, leaving the highest grade portion of the mineralized body open to the south.
- In TR18-03, 1.04 g/t Au over 3.5 metres** and 0.89 g/t Au over 4 metres**.
The 2018 surface sampling program in the Revenue-Nucleus area was designed to explore for, test and validate near-surface targets within a six-kilometre-long multi-element soil anomaly that encompasses the Revenue and Nucleus deposits (Figure 1). Triumph Gold geologists believe that the entire soil anomaly is underlain by rocks affected by a gold-rich hydrothermal system related to a large buried porphyry intrusion that has yet to be tested by drilling. The surface sampling program tested three main areas with a total of 164 linear chip or channel samples collected from exposed bedrock or in excavated trenches, and 35 grab samples of bedrock, regolith or locally sourced float.
Drone Zone
The Drone Zone was discovered in 2018 as a result of local placer mining operations that exposed a roughly 100 X 25 metre area of altered and mineralized outcrop at the bottom of the Mechanic Creek valley (news release PR#18-11 dated October 16, 2018). This new zone is located 500 metres east of high-grade drill intercepts in the Nucleus gold deposit, and 500 metres west of drill holes that intersected the Keirsten Zone porphyry. Mineralization encompasses the entire area of exposure, which consists of granite hosting large xenoliths of biotite schist, and cross-cut by irregular quartz-feldspar-porphyry dykes and thick gouge-rich faults. Mineralization comprises disseminated sulfides and quartz-sulfide veins with pyrite, chalcopyrite, and lesser arsenopyrite, bismuthinite and visible gold.
The Drone Zone was tested with 49 chip samples and 21 grab samples*. Sample F00032970 which assayed 450 g/t Au and 19 g/t Ag contained abundant visible gold and was collected from locally sourced rock debris at the eastern side of the placer mining cut where the zone appears to extend beneath overburden. Mineralization with anomalous to bonanza grade gold and copper concentrations is consistent though the Drone Zone; assay highlights are reported in Table 1. The zone is open in all directions and has never been drilled or previously explored.
Table 1: Significant Grab and Chip Samples from the Drone Zone 2018
| Drone Zone Grab Samples* | |||||
| Sample ID | Northing*** | Easting*** | Au g/t | Ag g/t | Cu % |
| F00032970 | 6913542 | 380057 | 450.41 | 19 | 0.023 |
| F00032968 | 6913543 | 380057 | 3.67 | <2 | 0.033 |
| F00032952 | 6913529 | 380032 | 1.77 | 25 | 2.090 |
| F00032967. | 6913525 | 380032 | 0.35 | 2 | 0.552 |
| F00032956 | 6913526 | 380046 | 0.26 | 3 | 0.182 |
| Drone Zone Chip Samples | |||||
| Sample ID | Trench ID | Sample Length** | Au g/t | Ag g/t | Cu % |
| F00032915 | DZT-2 | 2.0 | 1.20 | <2 | 0.077 |
| F00032916 | DZT-2 | 2.0 | 0.58 | <2 | 0.054 |
| F00032921 | DZT-2 | 2.0 | 4.82 | <2 | 0.017 |
| F00032936 | DZT-3 | 2.0 | 0.56 | <2 | 0.105 |
Blue Sky Zone
The Blue Sky Zone covers the eastern side of the six-kilometre-long Revenue-Nucleus soil anomaly. Drill testing for porphyry mineralization in 2017 and 2018 confirmed high-grade gold-rich mineralization within the Blue Sky Zone on the western slope of Bowlidden Ridge (e.g. RVD18-19 with 316 metres @ 1.10 g/t Au, 0.27% Cu; see news release PR#18-09 dated Sept. 12, 2018). Surface sampling in 2018 focused on the eastern slope of Bowlidden Ridge approximately 400-800 metres from the Blue Sky Porphyry discovery area (Figure 1).
The 2018 surface sampling program included 86 chip and channel samples from three trenches and thirteen grab samples collected mainly from disturbed bedrock along new access roads. Of the thirteen grab samples, eight contained greater than 2.0 g/t Au, to a high of 16.8 g/t Au (Table 2)*. Trenches returned anomalous gold concentrations (Table 2), including 1.46 g/t Au over 1 metre** in BST18-01 and 0.31 g/t Au over 8 metres** in BST18-02, which is contained within a 52.50 metre** section of 0.15 g/t Au (the full length of the trench). Most mineralized samples comprise phyllic altered granite with quartz veins that contain trace bismuthinite ± molybdenite ± chalcopyrite ± arsenopyrite. These new samples, as well as two grab samples* of quartz veins collected from the area in 2017 that graded 3.76 and 5.77 g/t Au, define an approximately 400-metre-long corridor of mineralization that is open in all directions and is untested by drilling. A single 2017 drill hole tested the southern side of Bowlidden Ridge (RVD17-09). It was collared on the far southern edge of the newly defined mineralized zone and was oriented southwards, away from the new surface samples. Results from that hole include ten intersections that graded over 1.0 g/t Au, within a 269 metre interval of highly anomalous gold (0.24 g/t Au; see news release PR#17-13, dated November 2, 2017).
Table 2: Significant Grab and Chip/Channel Samples from the Blue Sky Zone 2018
| Blue Sky Zone Grab Samples* | ||||||
| Sample ID | Northing*** | Easting*** | Au g/t | Ag g/t | Cu % | Mo % |
| C00029002 | 6913001 | 383748 | 16.79 | <2 | 0.009 | 0.002 |
| C00029001 | 6912991 | 383728 | 11.9 | 4 | 0.047 | 0.002 |
| C00030446 | 6913004 | 383714 | 9.49 | 5 | 0.018 | 0.003 |
| C00029036 | 6913005 | 383715 | 6.96 | <2 | 0.013 | 0.003 |
| C00030442 | 6912754 | 383895 | 4.51 | 3 | 0.011 | 0.116 |
| C00030443 | 6912754 | 383895 | 3.38 | <2 | 0.004 | 0.142 |
| C00048133 | 6912999 | 383717 | 2.46 | <2 | 0.020 | 0.001 |
| C00030444 | 6912754 | 383845 | 2.09 | 4 | 0.003 | 0.017 |
| C00048132 | 6913012 | 383703 | 0.44 | <2 | 0.006 | 0.000 |
| Blue Sky Zone Chip and Channel Samples | ||||||
| Trench ID | From-To (m) | Sample Length (m)** | Au g/t | Ag g/t | Cu % | Mo % |
| BST18-02 | 0.00 - 52.50 | 52.50 | 0.15 | <2 | 0.012 | <0.001 |
| Including | 30.00 - 38.00 | 8.00 | 0.31 | <2 | 0.027 | <0.001 |
| BST18-01 | 9.00 - 10.00 | 1.00 | 1.46 | <2 | 0.022 | 0.002 |
Granger Zone
The Granger Zone is a shallow oxide gold exploration target that is located between the Revenue and Nucleus deposits near the center of the Revenue-Nucleus soil anomaly. Historical exploration in this zone included trenching, rock sampling, with grab samples up to 45.5 g/t Au*, and percussion, reverse circulation and limited diamond drilling. Historical drilling made multiple shallow oxide gold intercepts, including 5.29 g/t Au over 13.71 metres** in GRRAB-091 (from 3.05 metres to the bottom of the hole at 16.76 metres). Drilling in 2018 intersected variably oxidized near-surface mineralization in every hole, delineating a mineralized corridor over 200 metres strike-length and to a depth of at least 74 metres (News Release PR#18-12, dated October 24, 2018). The mineralized zone is open in all directions and to depth.
Highlights of the results from 2018 Granger Zone drilling include:
- RVD18-33 with 18.39 metres** of 0.98 g/t Au (2.95 – 21.34m)
- RVD18-29 with 18.00 metres** of 0.61 g/t Au (53.00 – 71.00m)
- RVD18-30 with 55.21 metres** of 0.45 g/t Au (18.84 – 74.05m)
Twenty-nine chip and channel samples covering 46.80 meters in two newly (2018) excavated trenches tested strongly oxidized rock in the center of the mineralized corridor. Samples form the trenches contain a similar tenor of gold mineralization as that intersected at depth by drilling, indicating continuity from surface to a depth of approximately 45 metres. Trench results include 1.04 g/t over 3.5 metres** in TR18-03, and 0.70 g/t Au over and 18.5 metres** including 1.72 g/t Au over 3.5 metres** in TR18-04 (Table 3). The southern edge of trench TR18-04 has some of the highest grade mineralization (e.g. 3.26 g/t Au over 1 metre**) demonstrating that the zone is open and highly prospective to the south.
Table 3: Chip and Channel Samples from the Granger Zone 2018
| Granger Zone Trench Samples | |||
| Trench ID | From-To (m) | Sample Length (m) ** | Au g/t |
| TR18-03 | 1.00 - 5.00 | 4.00 | 0.89 |
| TR18-03 | 10.00 - 13.50 | 3.50 | 1.04 |
| TR18-04 | 1.50 - 20.00 | 18.50 | 0.70 |
| Including | 16.50 - 20.00 | 3.50 | 1.72 |
| Including | 19.00 - 20.00 | 1.00 | 3.26 |
Tony Barresi, Vice President of Exploration for Triumph Gold Corp. comments “As we advance exploration in underexplored portions of the 6-kilometre-long soil anomaly that surrounds the Revenue and Nucleus deposit areas, we are continually impressed by the world-class scale of the of the underlying gold-rich hydrothermal system. Each of the surface exploration target areas yielded exciting results. Newly discovered mineralization at the Drone Zone and in the Blue Sky Zone reinforce our belief that Revenue and Nucleus are only small parts of a much larger mineralized body. Both of the new showings represent high quality drill ready targets with potential for high grade gold intersections. In addition, new trenches in the Granger Zone demonstrate continuity of oxide gold mineralization between surface and underlying drill intersections, building a case for a near-surface heap leachable oxide gold resource.”
Notes:
* Grab samples are selective in nature, and the reported mineralization and assay results may not be representative.
** Length/interval refer to sample length. True widths have not been determined.
*** Coordinates are given in North American Datum 83 (NAD83), Zone 8.
Methods
Linear chip and channel samples ranged between 0.25 and 2 metres in length. Chip samples were collected with a rock hammer and channel samples were cut from outcrop with a portable diamond saw. The samples were analyzed by SGS Canada of Vancouver, British Columbia. They were prepared for analysis according to SGS method PRP89: each sample was crushed to 75% passing 2mm and a 250g split was pulverized to better than 85% passing 75 micron mesh. Gold was tested by fire assay with atomic absorption finish on a 30g nominal sample (method GE FAA313), and samples that tested over 10 g/T Au were retested using a 30g nominal sample and gravimetric analysis (method GO FAG303). An additional 35 elements were tested by ICP-AES using a four-acid digestion (method GE ICP40B). 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 three quality control samples, consisting of blanks, certified reference standards and duplicates, were blindly inserted into each 75 sample batch. QAQC samples that return unacceptable values trigger investigations into the results and reanalyses of the samples that were tested in the batch with the failed QAQC sample.
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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/cc81e95b-ab4f-4ac6-85eb-c69d16c4c868
