dynaCERT Inc. (TSX VENTURE: DYA) (OTCQB: DYFSF) (DAX: DMJ) provides the following update:
dynaCERT announces the departure from its Board of Directors of Colonel Yalon Fahri who has resigned to pursue other interests. Mr. James Payne states: “Colonel Fahri is a good supporter of the Company and helped in many aspects of our growing business. Yalon will continue to work with our Toronto-based design and engineering team on our developments for different high-load applications but now just on a different level.”
Grizzly Discoveries $GZD $GZDIF is pleased to announce that Kinross Gold Corporation’s wholly owned subsidiary, KG Exploration (Canada) Inc. (“Kinross”) has informed Grizzly that a drill will be mobilized to the Midway Target within the Greenwood Project, located near Greenwood in southern B.C. Kinross is planning a 1,200 m drill program at the Midway area during July and August, 2018, to continue the proof of concept drilling at the Midway Epithermal Target intersected in 2017. Proof-of-concept drilling in 2017 intersected gold, silicification, argillic alteration and minor quartz veining in 2 out of 3 holes along strike, warranting further follow-up exploration, particularly to the east and down-dip at the epithermal target.
Grizzly is also pleased to announce that it has closed on a private placement for gross proceeds of $55,000 (the “Placement”).
Highlights of 2017 Kinross Exploration Program at Midway
The portions of the Greenwood Project being explored by Kinross, 100% owned by Grizzly Discoveries Inc., includes 131 claims that form a contiguous package totaling approximately 27,346 hectares, representing approximately one third of Grizzly’s land holdings at Greenwood. Kinross can earn a 75% interest on the optioned land pursuant to an Option Agreement dated September 2015 by incurring US$3 million in exploration expenditures over a 5 year period. By the second anniversary on September 23, 2017, Kinross had completed 1,129 metres of diamond drilling and had incurred US$750,000 in expenditures.
Kinross geologists hypothesize that the Midway Epithermal target is an Eocene-aged epithermal system developed within Triassic clastic sediments and limestone, and Jurassic hornblende diorite intrusions, all unconformably overlain by Eocene Kettle River Formation sediments and Marron volcanics.
A 3 +/- m thick blanket of massive silica (locally banded, brecciated and vuggy) occurs at the basal Eocene unconformity. Remnants of this silica blanket occur in outcrop, intermittently over a 1 x 1 km area, in some places replacing Triassic limestone. The massive silica contains elevated gold (“Au”) (to 1.175 parts per million [ppm]) as well as locally anomalous arsenic (“As”), mercury (“Hg”) and antimony (“Sb”). Near the eastern end of the (known) silica exposure, up to 15% marcasite occurs as disseminations within the silica, and as cm-scale clasts that exhibit internal banding. This showing is interpreted as representing a hydrothermal vent intersecting the unconformity.
Widespread argillic alteration and more local silicification occur in the footwall of the unconformity. Two separate zones of alteration and veining have been discovered: The western zone is a north-trending, 200 m long by 50-75 m wide, zone of silicification, with peripheral argillic alteration, centered on a north trending fault zone marked by a narrow band of listwanite. Multiple narrow (to 0.5 m) chalcedonic quartz (+/-quartz breccia) veins (up to 4.2 ppm Au) occur within the broader zone of silicification. A second similar zone of alteration and veining is located 200 m to the east. The target areas were further delineated via a large Au-Cu-Ag +/- Hg, Sb, Se, Ba soil anomaly over the exposed epithermal system.
Rock chip and drill hole results indicate predominately argillic, and lesser propylitic alteration. Kaolinite dominates the argillic suite. The strongest zone of alteration is a north-trending, 200 m long by 50-75 m wide, zone of silicification near the irregular clastic/intrusive contact centered on a north-trending fault
zone. Multiple narrow (to 0.5 m) chalcedonic quartz (+/- quartz breccia) veins occur within the broader zone of silicification. Values of up to 4.2 ppm Au have been recovered from these veins.
Private placement and 2018 Proposed Work Programs
On July 19, 2018, the Company closed a private placement of Units and FT Units for gross proceeds of $55,000. The Company sold 562,500 units (“NFT Units”) at a price of $0.08 per unit, and 100,000 flow-through units (FT Units) at a price of $0.10 per FT Unit. Each NFT Unit consisted of one common share of Grizzly (a “Share”) and one Share purchase warrant (a “Warrant”). Each FT Unit sold consisted of one Share, issued as a flow-through share pursuant to the Income Tax Act (Canada) and one half of one Warrant. Each Warrant entitles the holder to acquire an additional Share for an exercise price of $0.12 and expires on the earlier of: (a) 30 days following the issuance of a news release by the Corporation that the trading price of the Common Shares on the TSX Venture Exchange is at or greater than $0.18 per Common Share for 10 consecutive trading days; and (b) July 19, 2020.
An insider of the Company purchased 137,500 Units for proceeds of $11,000 and a corporation controlled by an insider purchased 75,000 NFT Units for proceeds of $6,000. The closing of the Placement is subject to final acceptance by the TSX Venture Exchange.
Grizzly has submitted three Notices of Work (“NOW”) programs to the BC Ministry of Energy, Mines & Petroleum Resources. The planned programs cover planned exploration, including planned drilling, at the Ket 28 – Dayton and Motherlode target areas in the Greenwood Project area on lands not under option to Kinross. The third NOW program will cover potential cobalt-copper-silver (Co-Cu-Ag) drill targets at the Company’s 100% owned Robocop Project to be tested this fall after completion of an airborne survey and surface exploration activities planned during August and September 2018.
About Grizzly Discoveries Inc.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange with 62 million shares issued, focused on developing its precious and base metals properties in southeastern British Columbia along with significant Potash assets in Alberta. The Company holds over 180,000 acres of precious-base metal properties at its Greenwood Project; additionally, Grizzly holds 9,891 acres with Co-Cu-Ag mineralization at its Robocop Property, both located in southeastern British Columbia. The Company also holds more than 160,000 acres of properties which host diamondiferous kimberlites in the Buffalo Head Hills region of Alberta; and metallic and industrial mineral permits for potash totaling more than 60,000 acres along the Alberta-Saskatchewan border.
The content of this news release and the Company’s technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., who is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Vancouver, B.C. – February 22, 2018: Pistol Bay Mining Inc. (TSX-V – PST; Frankfurt – OQS2) (“Pistol Bay” or the “Company’) is pleased to announce that it is currently soliciting and reviewing bids from drilling contractors for the rights to drill the Company’s Confederation Lake greenstone belt VMS properties. A decision is expected shortly, and drilling is planned to commence March 2018.
Pistol Bay has received the one million dollars ($1,000,000) from Rio Tinto for the uranium assets it owned in the Athabasca Basin (see news release February13,2018). Proceeds from this payment will be used to fund the drilling program at Confederation Lake.
Three drill holes of at least 500 metres each are planned to further test the Arrow Zone and to retrieve core for preliminary metallurgical testing. The Arrow Zone was the subject of a 43-101 report in 2017 that presented an inferred mineral resource of 2,100,000 tonnes grading 5.78% zinc, 0.72% copper, 0.60 grams per tonne (g/t) gold and 19.5 g/t silver. (8.42% zinc eq.) (see news release February 15, 2018).
Approximately ten diamond drill holes totaling approximately 2,000 metres will test the Fredart “A” Zone (also referred to as the Copperlode “A” Zone). A historical resource estimate made in 1971 for the Fredart “A” Zone, based on diamond drilling in the 1960s, was 386,000 tonnes grading 1.56% copper and 33.6 g/t silver, or alternatively 219,500 tonnes at 1.95% copper and 41.8 g/t silver. Neither of these estimates conforms to any class of mineral resource or mineral reserve defined by the 2014 CIM guidelines.
dynaCERT Inc. (TSX VENTURE: DYA) (OTCQB: DYFSF) is pleased to report that it has closed the first tranche in the amount of $1,260,000 of a new issue of up to $3,500,000 principal amount of convertible notes (the “Notes”) by way of a non-brokered private placement in Canada to accredited investors. Use of proceeds of the issue of Notes is for general working capital of the Company.
The Notes are issued as of November 17, 2017 at a price of $0.84 maturing September 30, 2020, and, carry a coupon of $0.07, payable annually on September 30 of each year, yielding approximately 8.33%. Each Note is convertible at the option of the holder at any time prior to maturity into one Unit, each Unit consisting of one common share of dynaCERT and one half of a common share purchase warrant (a “Warrant”). Each whole Warrant is exercisable for 2 years from the date of issuance of the Notes at any time after conversion of the Notes for one common share of dynaCERT at an exercise price of $1.00 per common share. If the common shares of dynaCERT trade over the price of $2.00 per share on the TSXV for twenty consecutive trading days, the Company shall have the right to give notice to holders that the conversion feature of the Notes shall expire within 30 days of such notice. The Notes may be transferred subject to applicable Canadian Securities Legislation at the option of the holder. The Notes will not be listed for trading on any stock exchange. The Notes have a hold period of 4 months plus one day from their date of issuance.
The closing of this private placement is subject TSX Venture Exchange final approval.
dynaCERT Inc. (TSX VENTURE: DYA) (OTCQB: DYFSF) (“dynaCERT” or the “Company”) has finalized 2017 performance testing of its innovative HydraGEN™ Technology on refrigerated trailer (Reefer) diesel engines. Theresults that were first reported in the September 21 2017 press release by the Company have been verified and are now available on our web site for review in a report titled “HydraGEN™ Reefer Testing 2017” and a summary report titled “Performance Results on Reefer Diesel Engines”. www.dynaCERT.com
The test protocol measured hourly results at different temperature set points of the Reefer’s refrigeration unit to benchmark the engine’s fuel consumption and emission results under various climatic conditions. This was conducted over many months to verify results.
These tests, conducted by dynaCERT, show the following average results:
- Fuel Consumption from 4.6 lb/hr to 3.5 lb/hr or 25% reduction
- NOx from 150.5g/hr to 105.8g/hr or 30% reduction
- Carbon Monoxide (CO) from 156.9g/hr to 77.5g/hr or 51% reduction
- Carbon Dioxide (CO2) from 1713.2g/hr to 952.8g/hr or 44% reduction
These results point dynaCERT’s new HG2 unit to a potential vast market for not only Reefers but also Class 2-5 fixed-body delivery trucks, city buses and average trucks in the European, Asian and India market place. The company has made significant progress in the development of the HG2 unit, which is approximately 25% of the size of the HG1 unit, thereby allowing for a broader range of applications for diesel engines with displacements of up to 5 litres.
dynaCERT’S COO, Robert Maier, states, “After months of rigorous testing our team has succeeded in proving that the advanced HydraGEN™ Unit will perform to standards expected by our clients. We are confidently launching the new HG2 Unit as a state-of-the-art product from dynaCERT that will provide our best fuel savings to date. The use of a HydraGEN™ Unit on diesel-powered vehicles will reduce the carbon footprint of users of our technology.”
Triumph Gold Corp. TSXV$TIG $NFRGF announced that prospecting and step out 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 (Figure 1, Table 1, Table 2), east of the Revenue diatreme, including identification of visible gold in RVD17-01, and 57m of 1.72 grams/tonne (g/t) AuEq* at 1.08 g/t gold and 0.285% copper in RVD17-13.
- A corridor of high-grade, gold-rich, porphyry style mineralization over a strike length of 450m (including RVD1-13, previous bullet point) that extends from the eastern edge of the Revenue diatreme northeast into the Blue Sky Zone. Mineralization is 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 603m depth in a single drill hole collared 1.4 km 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 X 2.0 km soil/geophysical anomaly, 400m east of any historical drilling and over 1 km east of the Revenue diatreme. The showing is defined with surface grab samples that grade up to 5.77 g/t gold and a 236m drill intersection with a length*** weighted average gold grade of 0.238 g/t.
Triumph Gold completed 12,904m of diamond drilling in 35 holes during 2017. Results from 17 holes totalling 7,632m have been released to date. The remaining results will be released in the coming weeks.
Table 1: Location and Orientation of 2017 Diamond Drill Holes Testing the Blue Sky and Keirsten Zones
|Hole #||Easting**||Northing**||Azimuth||Inclination||Depth (m)|
Motivation for Step Out Drilling
A primary objective of the 2017 drill program near Revenue was to demonstrate through systematic step outs 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 1 km to the east and west of the Revenue diatreme, respectively (Figure 1). 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 (noted below and Figure 1).
- RVD11-019: 70.48m (179.25 – 249.73m) 1.489 g/t Au, 0.219% Cu
- RVD11-022: 55.45m (86.75 – 142.20m) 0.418 g/t Au, 0.191% Cu
- RVD11-028: 162.36m (84.79 – 247.15m) 0.446 g/t Au, 0.218% Cu, 0.085% Mo.
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 multi-element soil anomaly that extends up to 1.5 km east of the Revenue diatreme (Figure 1). 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 (see above). Step out 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 (Figure 1, Table 1, 2).
- RVD17-013 was collared 350 metres northeast of drill holes RVD11-019, 22 and 28, and intersected 119m of copper-molybdenum-gold-silver porphyry style mineralization grading 0.60% CuEq*, with a 57m thick high-grade, gold-rich core grading 1.09% CuEq* at 1.083 g/t gold and 0.285% copper (Table 2).
- RVD17-01 was collared 100 metres east of drill holes RVD11-19, 22 and 28 and intersected 148.58m of copper-molybdenum-gold-silver porphyry style mineralization. Average grades within the intersection include 39.58m of 0.40% CuEq* and 94.38m of 0.48% CuEq* (Table 2).
- RVD17-03 was drilled from the same setup 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 18.60m of 0.423 g/t gold and 0.105% copper (Table 2, 4).
Together with results from RVD17-12 (PR#17-12, October 19, 2017: 245m of 0.37 CuEq* with a 58.65 metre high-grade core grading 0.971 g/t Au and 0.218% 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 450m. 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.
Table 2: Length*** Weighted Drill Intercepts – Highlights from 2017 drilling of porphyry related mineralization in the Blue Sky Zone
|Length*** (m)||Au (g/t)||Ag (g/t)||Cu
|Mo (%)||AuEq* (g/t)||CuEq* (%)|
Porphyry Mineralization in the Keirsten Zone
The Keirsten Zone is a newly identified target area within the roughly 5.5 X 2.0 km soil and geophysical anomaly that encompasses the Revenue and Nucleus areas (Figure 1). The area was targeted for exploration in 2017 to test an intense chargeability and resistivity high at depth. KZ17-01 was drilled near the center of the chargeability high. The top 193 metres of bedrock are phyllic altered quartz-feldspar porphyry, with textures identical to the dykes that are responsible for high-grade gold mineralization at the Nucleus deposit 1 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 was 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 (Table 4) compared to 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 603.50m 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 (Table 3).
Table 3: Surface grab samples with significant Gold from the Keirsten Zone
Tony Barresi, Triumph’s VP Exploration, comments: “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.”
Table 4: Length*** Weighted Drill Intercepts – Table of Significant results (See below for RVD17-09) – Mo only reported where composite average is > 15ppm
|Length***(m)||Au (g/t)||Ag (g/t)||Cu
|Mo (%)||AuEq* (g/t)||CuEq* (%)|
|RVD17-06||No Significant Results|
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 step out into the Blue Sky Zone (Figure 1), intersected a broad zone of gold mineralization associated with a swarm of aplite, pegmatite and lesser quartz-feldspar-porphyry dykes. The upper 29 metres of core in RVD17-09 is strongly fractured and oxidized and grades 0.510 g/t gold; it is contained within a 269m intersection of 0.238 g/t gold, with ten longer than 1-meter samples grading over 1 g/t gold (Table 5). Two surface grab samples of bull quartz collected from regolith returned gold grades of 5.77 and 3.76 g/t (Table 6). The location of the Happy Creek showing, and the collar of RVD17-09 represents the farthest step out 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.
Table 5: Length*** Weighted Drill Intercepts – Happy Creek Showing
|Hole #||From (m)||To (m)||Length*** (m)||Au (g/t)|
Table 6: Surface grab samples from the Happy Creek Showing
|Sample||Easting**||Northing**||Au (g/t)||Ag (g/t)|
Tony Barresi, Triumph’s VP Exploration, comments: “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 step out 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 center 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 meters 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.
Paul Reynolds, Triumph’s President & CEO, comments: “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 NR17-12 dated October 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.”
* Copper and Gold Equivalent [CuEq*, AuEq] 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 US$3.10 per pound of copper, US$1,305 per troy ounce of gold, US$17.40 per troy ounce of silver and US$7.00 per pound of molybdenum oxide.
** Coordinates are given in North American Datum 83 (NAD83), Zone 8.
*** Length refers to drill hole intercept. True widths have not been determined.
Methods and Qualified Person
Drill core samples ranged between 1 and 2m length and were cut at Triumph’s core logging facility on the Freegold Mountain Property (Revenue Camp; Figure 1). 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.
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.
Triumph Gold TSXV.TIG 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. 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.
- 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).
Go to www.triumphgoldcorp.com for full news release dated June 7, 2017
- Revenue of $1,380,350 on the delivery of 215 HG1 units
- Gross profit of $653,502
- Gross margin of 47%
- Net operating income before stock based compensation of $199,188
- Net income of $482,175
- Cash balance at the end of Q1 of $1,093,944
Robert Maier, COO of dynaCERT, states, “We are executing well and gaining traction as we focus on the foundation of strong distributor relationships. We are expanding into other markets for our suite of HydraGENTM products.“
“I am pleased with our first quarter results as we commenced commercial sales,” said Jim Payne, President and CEO of dynaCERT. “We are strengthening our management team and support for sales and product installation. The growth potential for sales is both exciting and challenging as we transform from an R&D company into a sales and manufacturing organization.”
Triumph intends to execute a $4 million exploration program on the Freegold Mountain property, as well as smaller reconnaissance mapping and sampling projects on Tad/Toro and Severance properties in Yukon and Andalusite Peak in northern British Columbia.
Exploration on the Freegold Mountain property will commence in late May and extend until early October. The work will include approximately 13,000 m of diamond drilling, seven line km of trenching, geological mapping, prospecting and a soil geochemistry survey.
Drilling will be focused on four areas:
- Nucleus (4,000 m). The Nucleus deposit involves several superimposed deposit types and contains 1.3 million Ozs gold within 74.7 million tonnes in the indicated category (0.30 g/t AuEq1 cut-off). 2017 exploration drilling will comprise broad step outs that target areas prospective for extensions of one or more of the deposit types.
- Revenue and the adjacent Blue Sky Zone (5,000 m). Revenue is a porphyry style deposit that contains 1.0 million Ozs gold, 8.98 million Ozs Ag, and 241 million lbs copper within 80.8 million tonnes in the inferred category (0.5 g/t AuEq1 cut-off). 2017 drilling near Revenue will focus on the Blue Sky Zone, a 2.3 square km area to the east of Revenue, with coincident soil and chargeability anomalies that are adjacent to and along strike of some of the longest and best drill intersection within the main Revenue Zone (e.g. 16% Cu, 0.66 g/t Au over 196.02 m [RVD11-019 368.88 – 476.94m]).
- The newly discovered Generation Zone (2,000 m). The Generation zone is a porphyry copper gold target identified in 2016. It consists of strongly altered granodiorite exposed over 80 meters that contains a high density of mineralized quartz +/- magnetite veins. The mineralized outcrops are centered approximately 150 meters above the modeled depth of a strong 2.9 X 1.3 km chargeability high.
- A soil and geophysical anomaly that extends 2 km along strike between the Nucleus and Revenue deposit areas (2,000 m).
Drilling at the Nucleus and Revenue deposit areas will constitute significant step outs, up to 1.5 km from the current resource areas, to test new exploration targets developed during a thorough data and drill core review conducted in 2016.
Exploration at the property’s third resource area, the Tinta polymetallic vein deposit, will include broadening of the existing soil geochemistry survey area with approximately 1,200 samples over 7 km2. This will complement the ground magnetic and VLF-EM survey that was conducted in 2016, which defined several strong conductors that parallel the Tinta vein deposit and are coincident with Au, Ag, Pb, Bi in soil anomalies over the limited existing soil grid. Once results are obtained, trenching will be conducted over coincident anomalies.
A number of less developed prospects on the Freegold Mountain property, including the Nitro, Castle, and Stoddart porphyry prospects and Goldy, Ridge, and Irene epithermal gold prospects, will be the subject of focused data, drill core, and field studies/reviews by Triumph’s senior geologists in order to evaluate exploration potential.
NI 43-101 Disclosure
- AuEq is based on metal prices of $1,250/oz for gold, US$22.00/oz for silver, US$2.90/lb for copper and US$10.00/lb for molybdenum. The AuEq calculations reflect gross metal content and do not apply any adjustment factors for difference in metallurgical recoveries of gold, copper, silver and molybdenum.
- Mineral resources do not demonstrate economic viability, and there is no certainty that these mineral resources will be converted into mineable reserves once economic considerations are applied.
- The above mineral resource estimates have been prepared in compliance with the standards of NI 43-101 by J. Campbell, B.Sc., P. Geo., A. Armitage, Ph.D., P. Geol., A. Sexton, M.Sc., P. Geo., and D. Studd, M.Sc., P. Geo. of GeoVector Management Inc.
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.
Subject to regulatory approval, the Company has granted 5,900,000 incentive stock options to officers, directors, employees and consultants at a price of $0.40 per share for a period of five years from grant.