Triumph Gold Announces 2020 Drill Results including Near-Surface Gold Discoveries and Extension of the High-Grade Goldstar Vein

Vancouver, B.C., January 26, 2021 – Triumph Gold Corp. (TSX-V:TIG | OTCMKTS:TIGCF) (“Triumph Gold” or “the Company”) is pleased to announce drill results from their flagship Freegold Mountain Project located in Yukon’s Dawson Range Gold District. The 2020 exploration program was focused on drill testing near-surface gold targets in the Revenue-Nucleus and Mount Freegold areas (PR20-07). Nine holes were drilled for a total of 2,068.52 metres (Table 3).

“The 2020 campaign was small but successful, with all nine holes returning significant gold intercepts in untested or under-explored areas” said John Anderson, Executive Chairman and CEO of Triumph Gold. “We are very happy with these discoveries that complement existing prospects and deposits of the Freegold Mountain Project.”

Technical Highlights1:

  • Within the Irene-Goldstar Epithermal Corridor, 2020 drilling successfully tested the down-dip extension of the Goldstar Vein and validated the continuity of the system with long step-outs (up to 570 metres) into untested portions of the corridor intersecting multiple parallel gold-rich zones. Results include:
    • Extension of the high-grade Goldstar Vein by over 85 metres down dip in IGC20-03 with
      • 1.59 g/t Au, 96 g/t Ag, and 2.3% Cu over 1.56m (152.00 to 153.56m), including 4.59 g/t Au, 200 g/t Ag, and 6.9% Cu over 0.50m (153.06 to 153.56m)
    • Extension of the Skarn Zone by 570 metres to the northwest in IGC20-01 with the intersection of near-surface high-grade gold and silver in massive magnetite assaying
      • 1.12 g/t Au and 15.6 g/t Ag over 7.23m (27.82 to 35.05m), including 7.49 g/t Au and 37 g/t Ag over 1m (33.00 to 34.00m)
    • Discovery of near-surface gold and silver rich zones in multiple holes along the Irene-Goldstar Epithermal Corridor including
      • 0.89 g/t Au, 22 g/t Ag, and 0.17% Cu over 9.75m (48.16 to 57.91m) in IGC20-01, including 1.47 g/t Au, 35 g/t Ag, 0.23% Cu, 0.05% Pb and 0.11% Zn over 5.58m (49.18 to 54.76m), and
      • 1.81 g/t Au and 8.6 g/t Ag over 7.62m (42.67 to 50.29m) in IGC20-02, including 2.87 g/t Au and 12 g/t Ag over 4.57m (42.67 to 47.24m)
    • In the Revenue-Nucleus Area, drilling outside of known porphyry copper-gold mineralization resulted in multiple intersections of greater than 1 g/t gold, as well as the discovery of gold within an oxidized zone in KZ20-02 with assays of:
      • 0.82 g/t Au over 12.27m (1.45 to 13.72m), including 2.2 g/t Au over 3.12m from surface (1.45 to 4.57m), within a larger interval of porphyry-style gold and copper mineralization

A video summary of today’s news release is available by clicking the following link:

2020 Exploration Highlights – Freegold Mountain Project

Details of Drill Results:

Irene-Goldstar Epithermal Corridor

Four drill holes, totalling 555.18 metres (Table 3), were drilled in the Mount Freegold area during 2020 exploration. Three of the four holes collared in previously undrilled portions of the Irene-Goldstar Epithermal Corridor, a 3.7 kilometre long zone of gold and silver rich epithermal and skarn mineralization associated with a major splay of the Big Creek Fault (first outlined in PR20-03).

Mineralization within the Corridor (Figure 1) was first identified near Mount Freegold in 1930 with erratic but significant gold-rich intercepts of the Skarn Zone (e.g. chip samples that returned up to 366 g/t Au and 106 g/t Ag over 5 metres) and the Goldstar Vein epithermal system. In 1989 C. A. Main estimated a mineral inventory for the Goldstar Vein at 123,000 tonnes of 4.21 g/t Au and 47.2 g/t Ag contained within a shallow pit approximately 250 metres long by 60 metres deep2. Prospecting 2.5 kilometres to the northwest of the Goldstar Vein led to the discovery of the Irene Vein in 2013, and inaugural drilling of the vein in 2018 outlined a mineralized strike length of at least 450 metres, with grades of up to 20.7 g/t Au over 0.70m (PR19-02). Limited prospecting and trenching between the Goldstar Vein and Irene Zone resulted in significant grab (e.g. 425 g/t Au and 321 g/t Ag) and chip sampling from trenches (e.g. 3.85 g/t Au and 103 g/t Ag over 2m) at the Red Fox/Vindicator Zone, strongly indicating continuity of this mineralized trend.

The 2020 drill program along the Irene-Goldstar Epithermal Corridor successfully tested the down-dip extent of the Goldstar Vein and demonstrated continuity of both skarn and epithermal vein styles of mineralization within the 2.5 km-long previously undrilled portion of the corridor.

Drill hole IGC20-03 tested beneath the known extent of the Goldstar vein and intersected 1.59 g/t Au, 96.04 g/t Ag, and 2.28% Cu over 1.56m at 152 metres depth extending the Goldstar Vein by at least 85 metres down dip (Figure 4). This intercept demonstrates continuity of the high-grade vein to depth, and presents an immediate opportunity for resource definition work along the Corridor.

Drill holes IGC20-01 and IGC20-02 form a fence across the Irene-Goldstar Epithermal Corridor at the Red Fox/Vindicator Zone and successfully extend gold, silver, and base metal mineralization within the corridor by at least 570 metres along strike from the nearest drill hole at the Goldstar Vein (Figure 2). IGC20-01 intersected massive magnetite at 33 metres depth, assaying 7.49 g/t Au and 37 g/t Ag over 1 metre, while testing a moderate magnetic response along the flanks of a prominent 870 metre magnetic not tested by drilling in this area (Figure 3).

Additional intersections of new epithermal gold and silver mineralization in all four 2020 drill holes support continuity of both gold-rich skarn and epithermal vein mineralization within the Corridor (e.g. values up to 2.87 g/t Au and 12.33 g/t Ag over 4.57m in IGC20-02). IGC20-04 also identified epithermal mineralization, returning 1.14 g/t Au and 10 g/t Ag over 1.02m, but terminated prematurely due to a catastrophic drill failure at the end of the program.

Of the 3.7 kilometre length of the corridor, less than 2 kilometres have currently been tested by drilling. Inaugural drill testing at the Red Fox/Vindicator Zone is strong evidence for continuity of mineralization through the entire corridor. Work in 2020 also included updating infrastructure in the area, which will allow for efficient access to untested portions of the corridor in 2021.

Table 1: Highlighted 2020 drill results from the Irene-Goldstar Corridor (Mount Freegold Area)

 

 

 

 

 

 

 

 

 

Jesse Halle, Vice President of Exploration for Triumph Gold commented “Multi-gram gold and silver results from the southeastern and central portions of the Irene-Goldstar Epithermal Corridor provide ample incentive to continue exploration and definition of this long and fertile mineralized system. Elsewhere in the corridor, increased drill density has been the key to identifying higher grade sections of the system – with recent compilation and 3D modelling we are now able to explore more effectively and efficiently than ever before.”

Revenue-Nucleus Area

Five drill holes totalling 1513.34 metres were completed in the Revenue-Nucleus area during 2020 exploration (Table 3). The Revenue-Nucleus Area is defined by a 6 kilometre long intense soil geochemical anomaly related to widespread porphyry copper-gold and associated epithermal mineralization. Since 2017, renewed focus on the area has resulted in multiple discoveries including the high-grade Blue Sky and WAu Breccias.

2020 exploration resulted in multiple mineralized drill intersections in the Revenue-Nucleus Area (Table 2) including highly anomalous gold related to newly discovered structures at the Keirsten Zone in KZ20-01, previously unidentified gold enrichment in an oxidized horizon from surface (within a broader interval of highly-anomalous gold and copper) at Keirsten South in KZ20-02, and multiple intersections of over 1 g/t gold at Revenue East in RVD20-02 and RVD20-03.

Table 2: Highlighted 2020 drill results from the Revenue-Nucleus Area

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Keirsten Zone and Keirsten South

Two holes were drilled in the Keirsten area during the 2020 exploration season (Figure 5). KZ20-01 was designed to target strong coincident chargeability and magnetic geophysical anomalies in the Keirsten Zone, highlighted by a new Drillhole-Constrained 3D Magnetic Inversion Model. The drillhole intersected altered granodiorite and porphyritic dykes, with a structurally-controlled, weak to moderate oxide overprint persisting to 175 metres depth. Modelled magnetic geophysical anomalies were supported by observed magnetics in drill core resultant from anomalous concentrations of pyrrhotite and primary magnetite. Gold mineralization increased between the magnetic anomalies, within a faulted domain host to various porphyritic dykes, returning values up to 1.37 g/t Au over 1.27m (Table 2). This highly prospective, over 500 metre long structural-magmatic corridor stands out as a broad magnetic low (Figure 6) not previously tested by drilling, despite being coincident with significant Cu and Au in soil anomalies.

KZ20-02 was drilled a kilometre south of KZ20-01 and was designed to explore a 400 metre wide by 400 metre long gold and copper geochemical anomaly. The hole encountered a zone of iron oxidation returning gold grades of 2.2 g/t Au from 1.45 to 4.57 metres (Table 2), and elevated gold to 16.76 metres. Pervasive iron oxidation extends to approximately 40 metres downhole but persists to 110 metres as moderate to locally intense patches. Assays from this interval yielded 0.3 g/t AuEq3 over 87 metres from top of hole (Table 2). This drillhole intersected clay-altered monzonitic to monzodioritic rock with quartz veins and local feldspar porphyry dykes to approximately 230 metres depth where it penetrated Yukon Tanana country rock. Gold, copper and molybdenum were highly-anomalous throughout the hole indicating proximity to a porphyry-related mineralizing system.

Brian Bower, Lead Technical Director for Triumph Gold added “The intersection of highly-anomalous gold in this area makes Keirsten South an exciting new zone warranting more exploration. The technical team is reviewing spectral data to determine alteration zonation and is now modelling the oxidation surface to determine the oxide gold potential of the area.”

Revenue East

Revenue East is approximately 250 metres east of the high-grade gold and copper Blue Sky and WAu Breccias and is defined by an over 400 metre long gold, copper, and bismuth geochemical anomaly. Three drill holes were completed in the area during the 2020 exploration program, all confirming widespread gold mineralization in the area. Visible gold and bismuthinite were identified in drill core from RVD20-01 and RVD20-02 (Figure 5) and elevated gold grades of up to 1.64 g/t Au over 1 metre were intersected (Table 2). Results confirm that the geochemical anomaly is in-situ and is an effective vector to subsurface mineralization.

RVD20-03 (Figure 5) was designed to test another geophysical anomaly identified by the Drillhole-Constrained 3D Magnetic Inversion Model. Drilling confirmed a magnetic body immediately following a shear zone at approximately 275 metres depth (Figure 7). The drill hole contained visible gold and bismuthinite associated with quartz-carbonate veining, as well as long intervals of anomalous gold and copper, locally returning grades up to 1.51 g/t Au over 2 metres (Table 2). The anomalous magnetic target was encountered where expected providing additional support to the accuracy and predictability of the 3D magnetic inversion model.

Table 3: Drill Hole Locations and Orientations4

 

 

 

 

 

 

 

Covid-19 Response

Triumph Gold is committed to the health and safety of its employees and contractors. With recommendations from the Yukon Government and Yukon Chamber of Mines, the Company developed and implemented infection prevention and control measures at the Freegold Mountain Project to help reduce and minimize the risk of potential COVID-19 transmission in the camp and related work sites. During the 2020 field campaign, employees, contractors, and visitors were regularly monitored for symptoms and required to adhere to federal and territorial regulations, as well as Company prevention policies outlined in the Triumph Gold Corp COVID-19 Operational and Emergency Response Plans. Visitors and cross-shifts were not permitted during the field program, and camp employees and service providers were sourced from Yukon, with the exception of Triumph Gold corporate management who strictly followed regulations and guidelines upon entering the Territory).

Sampling Methods and Qualified Person

Drill core samples ranged between 0.5 and 2 metres length and were cut at Triumph Gold’s core logging facility at the Freegold Mountain Project. 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_FAA30V5), and samples that tested over 10 g/t Au were retested using a 50g sample and a gravimetric technique. Additional 33 elements were tested by ICP-AES using a four-acid digestion (method GE_ICP40Q12), over-limit samples for copper were retested using the same technique, but with ore grade four acid digestion and a higher range of detection (method GO_ICP42Q100). 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: A minimum of three quality control samples, consisting of blanks, certified reference standards and duplicates, are blindly inserted into each 75 sample batch. QAQC samples that return unacceptable values trigger investigations into the results and reanalysis of 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 Jesse Halle, P.Geo., Vice President Exploration for the Company and qualified person as defined by National Instrument 43-101.

Notes

1     Reported assays are uncut length-weighted averages and represent drilled core lengths. The true width of reported mineralization is unknown.

2      C.A. Main (1989) estimate should not be relied upon, as a Qualified Person has not done sufficient work to classify the estimate as a current mineral resource.

3     Gold equivalent [AuEq] is used for illustrative purposes, to express the combined value of gold, silver, copper, molybdenum, and tungsten as a percentage of gold for the Revenue-Nucleus area (porphyry related) and gold, silver, copper, lead, and zinc as a percentage of gold for the Mount Freegold Area (epithermal related). The lower detection limit for silver in assay package GE_ICP40Q12 is 2 g/t, therefore any samples that returned <2g/t have been excluded from all AuEq calculations. No allowances have been made for recovery loss that would occur in a mining scenario. AuEq is calculated on the basis of US$1,500 per troy ounce of gold (Au), US$18.00 per troy ounce of silver (Ag), US$3.00 per pound of copper (Cu), US$9.00 per pound of molybdenum (Mo), US$1.00 per pound of lead (Pb), US$1.25 per pound of Zinc (Zn), and US$13.00 per pound of tungsten (W). 4    Table coordinates presented in NAD83 (Zone 8N); Azimuths presented relative to UTM Grid.

About Triumph Gold Corp.

Triumph Gold Corp. is a Canadian based, growth-oriented gold exploration and development company with a district scale land package in mining friendly Yukon. The Company’s 100% owned, road accessible, flagship Freegold Mountain Project is located in the Dawson Range and is host to three NI 43-101 Mineral Deposits. The Project covers an extensive section of the Big Creek Fault zone, a structure directly related to epithermal gold and silver mineralization as well as gold-rich porphyry copper mineralization. The Company, led by an experienced management team, is focused on creating value through the advancement of its strategic “gold first” exploration program. For more information, please visit triumphgoldcorp.com.

On behalf of the Board of Directors

 Signed “John Anderson”

John Anderson, Executive Chairman and Interim 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

Mars Investor Relations

(647) 557-6651

tig@marsinvestorrelations.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.

AMS, Triumph Gold, Varta, Yamana Gold – What Investors Need to Know

The major stock exchanges in Europe and the USA have further stabilised in recent weeks. At midweek, the DAX was up 0.46% to 11,126 points. Also the indications for Wall Street are positive at this point in time and it all looks like the recovery trend will continue today. Despite negative reports in connection with the Corona Pandemic, the measures taken by central banks and politicians are obviously showing their effect. However, the uncoupling of the economy from the stock market by increasing the money supply is a cause for concern, and investors should therefore be particularly cautious.

 by Mario Hose


 

GOLD AS PROTECTION AGAINST INFLATION

The positive developments on the stock markets in connection with the increase in money supply around the world are the harbingers of rising inflation. The Bank of America’s speculation that the price of gold per troy ounce could rise to as high as USD 3,000.00 in the coming year is therefore well-founded. As an investor, one should be flexible in adapting to the environment in order to be prepared for all eventualities. Even if the aftermath of the Corona Pandemic leads to a recession, stock markets may still continue to rise due to the glut of money.

 

SHARES WITH GOLD LEVERAGE

If you want to position yourself in the market as an investor with gold and shares, you should look at companies that are active in the precious metals sector. Triumph Gold from Canada is exploring its own areas in the Yukon and has mining giant Newmont on board as a shareholder with an 18% stake. The upside potential of this company is that a takeover of Triumph Gold can take place if the price of gold rises. The main area of Triumph Gold is Freegold Mountain and has a size of 200 sqkm.

The area is approximately 34 km long and a year-round road runs right through it. A further increase in the price of gold and/or additional information on Triumph Gold’s gold deposits are grounds for speculation. The market value of the company is currently around CAD 25.00 million.

 

INDUSTRY GIANTS IN COMPARISON

With a market capitalization of CAD 7.25 billion, Yamana Gold also offers the opportunity to benefit from the development of the gold price. Companies of this size are usually not takeover candidates, they are more likely to be found on the buying side. AMS AG is also on the buyer’s side, as the Austrian company plans to take over Osram AG, which is valued almost four times higher.

Like Varta AG, Osram is dependent on the automotive sector and for this reason the Corona Pandemic comes at a bad time for AMS. The market value of AMS is currently around EUR 1.06 billion. With a market capitalization of EUR 3.69 billion, Varta is valued almost as highly as the lighting group Osram.


CONFLICT OF INTEREST & RISK NOTE

In accordance with §34b WpHG we would like to point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH may hold shares in the aforementioned companies and that there may therefore be a conflict of interest. Further details can be found in our Conflict of Interest & Risk Disclosure.

Link to article:

https://news.financial/comments/ams-triumph-gold-varta-yamana-gold-what-investors-need-to-know-now

#TriumphGoldCorp $TIG $TIGCF #President Tony Barresi #Interview with #Swiss #Resource #Capital AG

Triumph Gold (TSXV: TIG ,OTCQB:TIGCF) President and Director Tony Barresi was interviewed by Jochen Staiger of Swiss Resource Capital AG at the PDAC 2020.
The Freegold Mountain project includes three deposits with existing gold resources. The latest drill results showed phenomenal interceptions which indicates a larger resource.
Please click the link below to listen to the interview:
www.triumphgoldcorp.com

#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.

VIDEO: #TriumphGoldCorp $TIG $TIGCF #Intersects Strong #Gold-Rich #Porphyry #Mineralization in the Blue Sky #Porphyry in the #Canada’s #Yukon

Video Interview with John Anderson, Chairman of Triumph Gold Corp $TIG $TIGCF

http://www.abnnewswire.net/press/en/94487/triumph

 

Grizzly $GZD $GZDIF Announces #Kinross Mobilization, #PrivatePlacement and #Exploration #Plans

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.

. @TriumphGoldCorp $TIG $TIGCF Closes $5,124,000 #Financing and Confirm #GoldCorpInc Participation

Triumph Gold Corp. (TSX-V: TIG) (“Triumph” or the “Company”) is pleased to announce that it has completed a private placement financing of 14,641,101 units of Triumph at a price of $0.35 per unit for gross proceeds of approximately $5,124,385.  Each unit consists of one common share of the Company and one half of one non-transferable common share purchase warrant (each whole warrant, a “Warrant”).  Each Warrant is exercisable into one additional common share at a price of $0.55 for a period of two years from the closing of the financing.  The investment was made primarily by institutional investors. A private Hong Kong fund invested approximately $2.5 million and three existing shareholders (amongst others) participated in the offering, including Goldcorp Inc. (“Goldcorp”) which exercised its right to top up to a 19.9% ownership by participating in the financing.

John Anderson, Chairman of Triumph commented: “We are excited to have new institutional investors investing directly into the Company as we continue to explore the Freegold Mountain project.  As well, we are overwhelmed that current shareholders requested to increase their investment at this time.  Goldcorp has participated in this financing to increase its interest in the Company to 19.999% on a partially diluted basis.  We view this investment as a validation of our exploration philosophy and look forward to continuing to work with Goldcorp’s technical team as we continue to advance the Freegold Mountain project.”

The proceeds of the offering will be used for exploration at the Company’s Freegold Mountain project and for general working capital.  Triumph currently has two diamond drills on the property and is in the middle of an 18,000 metre drilling program.

All securities issued in connection with this financing will be subject to a statutory four month hold period expiring on November 12, 2018, in accordance with applicable Canadian securities laws.  Upon completion of the private placement, the Company will have 78,442,638 common shares issued and outstanding.  The Company has agreed to pay cash finder’s fees in the aggregate amount of $31,300 to certain finders in connection with the private placement.

Goldcorp and Palisade Global Investments Ltd., each subscribed for 2,719,674 units and 2,900,000 units, respectively, under the offering.  The participation of each of these insiders is considered to be a “related party transaction” as defined under TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company determined that an exemption from the formal valuation requirement of MI 61-101 was available for each related party transaction pursuant to Section 5.5(b) of MI 61-101. The Company also relied on Section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirement.

The Company did not file a material change report more than 21 days in advance of the closing of the offering, which the Company deems reasonable and necessary in the circumstances as the closing date of the private placement had not been established at that time.

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.
+1 (604) 218-7400
janderson@triumphgoldcorp.com

#PistolBayMining $PST Plans 2018 #Drilling #Program in Confederation Lake

Pistol Bay (TSX.V-PST) announced that it plans to commence a 2018 drilling program on it’s Confederation Lake greenstone belt in the very near future.

Charles Desjardins, President and CEO of Pistol Bay, commented, “After the company’s very encouraging VTEM plus survey in 2017, we are excited to commence the next stage of development of Confederation Lake volcanic massive sulphide belt.”

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.)

Additionally, the Company plans to survey the older drill holes on the Arrow Zone, which were drilled by Noranda in 1997 and 1998, using a gyro or similar method, to accurately determine hole deviation.  Collars of all holes on the Arrow zone will be surveyed by differential GPS to determine their precise location and the initial azimuth.  These new and precise measurements will allow more precise positioning of drill intercepts and will ultimately lead to a higher level of confidence in the mineral resource.

Approximately 10 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.

Although the first five holes in 1965 were assayed for gold with results up to 1.2 g/t Au, the remaining 76 holes were not assayed for gold.  Four of the highest grade and widest drill intercepts on the Fredart “A” zone were:

DDH 65-03: 1.83 metres @ 5.24% Cu and 170.45 g/t Ag

DDH 66-11: 6.61 metres @ 3.37% Cu and 159.52 g/t Ag

DDH 66-15: 17.53 metres @ 2.54% Cu and 45.72 g/t Ag

DDH 66-18: 46.21 metres @ 1.18% Cu and 51.11 g/t Ag

Intersection lengths are core lengths; true widths are not known.  Sampling, assaying, security and QC protocols are unknown.

Technical information in this news release was reviewed by Colin Bowdidge, Ph.D., P.Geo., a Qualified Person as defined in National Instrument 43-101.

#TriumphGoldCorp TSXV$TIG $TIGCF #Discovery of Two New #Gold Showings on 100% Owned Andalusite Peak #Property, #BritishColumbia

Triumph Gold reports results of prospecting and geological mapping on the Andalusite Peak property. Highlights of exploration include:

  • Discovery of two new gold-silver-copper occurrences, the Julep and the Gentleman vein:
      • The Julep showing consists of a feldspar porphyritic mafic intrusion with disseminated clots and veins of tetrahedrite, chalcocite and secondary malachite and azurite.  It was grab sampled in two locations 21 metres apart.  Sample E446453 graded 1.18 grams/tonne (g/t) Au, 11.2 g/t Ag and 1.135% Cu, sample E446454 graded 21.1 g/t Ag and 2.72% Cu. The size and geometry of the showing was not fully mapped, and it remains open.
      • The Gentleman vein consists of an up to 20 cm thick chalcopyrite rich quartz-carbonate-magnetite-sulfide vein, with strongly altered and mineralized selvages.  The vein was grab sampled in two locations 17 metres apart: Sample I044403 graded 1.84 g/t Au, 17.3 g/t Ag and 2.25% Cu, Sample E446455 graded 0.459 g/t Au, 2.4 g/t Ag and 0.163% Cu.  The vein was identified where it crosses a mountain-top saddle.  It remains open to the northwest and southeast.
  • Alteration mapping, aided by the collection and analysis of 67 near-infrared reflectance (TerraSpec) samples, verified that the property has been affected by intense phyllic to advanced argillic alteration over an approximately 2 X 2 km area, constituting one of the largest and most intense alteration zones in northern British Columbia.

go to: www.triumphgoldcorp.com for complete news release

#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.