#TriumphGoldCorp $TIG $TIGCF Samples 450 g/t #Gold in the Newly Discovered Drone #Zone Announces Results from Surface #Sampling in the 6-km-long Revenue-Nucleus #Soil #Anomaly

2019-03-21 Figure 1 Drone-Zone

Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: TIGCF) 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 TR18-04,70 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 TR18-03,04 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.

 Figure 1

 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.

#TriumphGoldCorp TSXV$TIG $TIGCF to #Exhibit at #AME2018 #RoundUp #Core #Shack

Triumph Gold TSX.V-TIG OTCMKTS: $TIGCF will be exhibiting at the AME BC Roundup Core Shack on Wednesday, January 24 and Thursday, January 25. The conference is being held at the Vancouver Trade and Convention Centre West, 1055 Canada Place, Vancouver, BC.

Triumph Gold will be displaying drill core from its 2017 Freegold Mountain project, Yukon at booth number 816.

@TriumphGold $TIG $NFRGF 13,000 Metre #Drill #Program Underway at #Freegold #Mountain #Project, #Yukon

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.

Triumph Gold Logo

  • 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

@PistolBayMining $PST Closes #Financing, Extends Expiry on #Warrants

Pistol Bay Logo3Pistol Bay $PST closed a non-brokered private placement financing for gross proceeds of $336,600, issuing 3,960,000 units at a price of $0.085 per unit, each unit comprising of one common share and one transferable share purchase warrant, with each warrant entitling the holder to purchase one additional common share for a period of 18 months at a price of $0.12.

The Company has paid finder’s fees of a total of $32,810, 173,000 common shares, and an aggregate 223,000 finder’s warrants. Pistol Bay will use the proceeds of the private placement for exploration expenditures and general working capital.

The Company will extend the expiry date of 7,632,500 common share purchase warrants that were issued on August 29, 2016. The old expiry date of August 29, 2017 will be extended to August 29, 2018.

#Barrick Purchases #Coral #Gold Robertson Property in #Nevada

Coral Gold Logo

Coral Gold has entered into a purchase and sale agreement with Barrick Cortez for the sale of the Robertson Property in Lander County, Nevada in the amount of US$15.75 million (Cdn $20.17 million). Barrick will return 4,150,000 shares of Coral held by them for cancellation by the company.

Coral will retain an NSR on the Robertson, payable quarterly, as well as a right of first refusal enabling Barrick to acquire the NSR in the event that the Company wishes to sell the NSR to any third party.

The sliding scale NSR rate will be determined based on the observed gold price each quarterly period based on the average LBMA Gold Price. In the event the Robertson Property is not placed into production by December 31, 2023, then beginning on January 1, 2024 and continuing on an annual basis thereafter until the earlier of (i) the commencement of commercial production and (ii) January 2, 2033, Barrick will make advance royalty payments of US$500,000, which will be non-refundable and fully credited against any future obligations of the NSR.

Annual General and Special Meeting

The Annual General and Special Meeting of the shareholders of Coral Gold is scheduled to be held at 11AM (PDT) on Friday, July 22, 2016 at The Metropolitan Hotel, Vancouver Room, 645 Howe Street, Vancouver, BC, V6C 2Y9.

Reasons and Benefits of the Transaction

  • Substantial immediate value creation for Coral shareholders. Based on Coral’s basic shares outstanding as of June 20, 2016 adjusted for the Share Reduction, the Immediate Cash Consideration alone, excluding the value of the NSR, on a per share basis is equal to approximately Cdn $0.46, as compared to the closing price of Coral’s common shares on June 20, 2016 on the TSX Venture Exchange of Cdn $0.195.
  • The potential for long term value for Coral shareholders through the NSR. With this continued commercial relationship with Barrick through the NSR, Coral shareholders will have the opportunity to participate and benefit from expected future gold production at Robertson, additional resource growth potential at the Robertson Property, and will also have economic returns that will substantially improve if gold prices increase over the Robertson Property’s mine life.
  • Strong financial position at closing. Upon closing of this Transaction, Coral will have a very strong balance sheet as compared to its very limited financial resources currently, which exposed its shareholders to significant dilution if the Robertson Property was to be advanced in any meaningful way.

Grizzly $GZD $GZDIF Closes 1st Tranche of Private Placement of Units

Grizzly Discoveries (TSX.V-GZD) (OTCBB-GZDIF) has closed the first tranche of their private placement issuing 2,794,680 units at a price of $0.05 per unit for gross proceeds of $139,734. Each unit consists of one common share and one non-transferable warrant. Each warrant entitles the holder to acquire one additional shares at an exercise price of $0.075 per share.

Grizzly_72dpi

200,000 of the 2,794,680 units sold were purchased by insiders of the Company. No commissions or finders fees were paid. The proceeds will be used for general working capital.

#Kinross’ KG Exploration Completes 2015 Work Program, Submits Plans for 2016 Exploration on 75% Option from #Grizzly $GZD $GZDIF on #Greenwood Property, #BC

Grizzly_72dpi#Kinross has completed its 2015 work program on the 131 claims that form a  contiguous package totalling approximately 27,345 ha, representing one third of Grizzly’s land at Greenwood. Kinross can earn a 75% interest on optioned land by incurring US$3 million in exploration expenditures over a five year period.

Five target area were selected – Attwood-Overlander, March Creek, Kerr Creek, Bruce Creek and Midway – to assess and prioritize targets on the land package for further work in 2016. Kinross uncovered previously unrecognized epithermal quartz veining and precious metal mineralization at the Attwood-Overlander area. Rock grab samples from the exposed epithermal veins that range from 0.75 to 2 m in width returned up to 29.8 g/t gold. This is considered a high priority for follow-up exploration in 2016.

Rock and soil sampling at March Creek, Bruce Creek and Kerr Creek have returned anomalous precious metals and epithermal indicators and warrant follow-up exploration in 2016. The geochemical results at the Midway Target may indicate the presence of an epithermal overprint and further exploration is recommended for 2016.

Kinross has indicated that the initial objective for the 2016 program will be to continue to evaluate the potential of the various target areas, working up specific targets to move forward using detailed mapping along with geologic and deposit models as a guide as well as many of the regional data sets already completed by Grizzly to move certain targets to a drill testing stage, potentially in 2016. Many of the target areas on the property are currently at the generative stage, with only a few geophysical and/or geochemical based targets having been drilled by Grizzly to date.

Metanor $MTO $MEAOF Begins Drilling to Update the #Mineral #Resources of the Barry #Gold #Project #Quebec

Metanor $MTO $MEAOF announced the start of a drilling campaign to update the mineral resources of its Barry Gold Project.

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The campaign of 1,200 meters will include validation drilling of the high-grade zones and of the extensions of certain mineralized zones, for eventual open pit mining.

The campaign and the mineral resource update is the first step towards the establishment of a preliminary economic assessment study on the Barry Project. The mineral resources are 7.7 millions of metric tons at a grade of 1.25 g/t for 309,500 ounces of indicated resources, and 10.411 millions of metric tons at 1.41 g/t for 471 950 ounces of inferred resources.

Metanor expects the drilling to be completed in May and the assessment to be completed at the end of June 2016.

Nancy

Metanor $MTO Retains GoldMinds Geoservices for a #Mineral #Resource Update on its Barry #Gold #Project #Quebec

Given the advantageous gold price in Canadian Dollar, Metanor is evaluating the merit of resuming work at the Barry project and has retained GoldMinds Geoservices Inc. to provide a mineral resource update on this gold project.

White LogoThe study will include validation drilling of the high-grade zones and the extensions of certain mineralized zones, for eventual open pit mining.

Nancy

Metanor $MTO Intersects 9.2 g/t #Gold Over 6.4 M at the Moroy Project #Quebec

Metanor Resources (TSX.V-MTO) (OTCBB:MEAOF) started drilling on the Moroy project in late February and has intersected 9.2 g/t gold over 6.4 metres, near surface. A second drill was planned to commence in the following days. This drill campaign is expected to cover over 60,000 m in the area, one km south of the Bachelor Mine.

Metanor expects to use three drills to complete this program, with two drill making close-space drillings to identify a well-defined resource and the third to drill at greater depths, targeting the geological anomalies identified in 2015.

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Nancy