White Metal Resources $WHM Partner Noronex Commences 10,000 M #Drilling Program at the DorWit #Copper-Silver Project, #Namibia

Thunder Bay, Ontario, September 9, 2021: White Metal Resources Corp. (TSXV: WHM) (FRA: CGK1) (OTCMKTS: TNMLF) (“White Metal” or the “Company”) is pleased to provide an update from its Australian joint venture partner Noronex Limited (ASX: NRX) (“Noronex”). Noronex has informed White Metal that it has commenced a 10,000 metre drilling program at the DorWit Copper-Silver Project (the “Property” or “Project”) in Namibia (see Noronex news release dated 17 August 2021). The Namibian Project comprises three Exclusive Prospecting Licences (EPLs) that cover 78,000 hectares, referred to as the Witvlei (EPL 7028 and EPL 7029) and Dordabis (EPL 7030) properties. The Project is prospective for sedimentary-hosted Cu-Ag mineralization within the prolific Kalahari Copper Belt that spans Namibia and Botswana. The focus of the current exploration efforts will be on the Witvlei project that comprises EPL 7028 and 7029 (Figure 1).

Highlights of the Drilling Program:

 Drilling has commenced in Namibia at Witvlei Project at the Otjiwaru Prospect (Figure 2).

  • Program of drilling will test five high-priority targets with 10,000 m of Reverse Circulation (RC) holes
  • Geophysical crew has completed the Dipole-Dipole IP survey at Gemboksvlei and is currently underway at
  • Known mineralization is confirmed to have a strong chargeability IP anomaly and a number of new chargeable zones are defined associated with anomalous copper geochemistry.
  • Drilling is expected to continue for three-to-four months across the five high-priority targets that have been identified:
    • sub-cropping copper at Dalheim with two-kilometre strike
    • chargeability IP anomalies at Gemboksvlei on a one-kilometre-long copper soil
    • outcropping copper at Otjiwaru over an 800-m-wide
    • a 5 km by 1.2 km copper-in-soil anomaly in an altered structural zone south of Okasewa.
    • unexplained copper soil anomalies at Christiadore

Michael Stares, President & CEO of White Metal, stated, “This is great news that Noronex has started their drill program and it indicates that they are truly committed to advancing the DorWit Property. I look forward to receiving updates and reporting the results of the drilling to our shareholders. I should add that the Company has been successful in securing three JV Partners including Noronex to advance other projects that the Company owns. This includes the Startrek Property, optioned by Leocor Gold, that is located in the province of Newfoundland and Labrador, Canada, near New Found Gold’s Queensway Property. Leocor Gold is currently starting work on the Startrek Property. The other JV is with Benton Resources who is advancing the Far Lake Copper-Silver Property, located about 90 minutes west of Thunder Bay.”

Figure 1. Map showing Witvlei project areas in the Kalahari Copper Belt (White Metal / Noronex JV).

Drilling

The drill rig and crew are on site and have commenced drilling at the Otjiwaru Prospect. Contractor, FerroDrill, Namibia will complete the initial planned 10,000 metres of RC drilling (Figures 2 and 3).

Figure 2. FerroDrill on site drilling at Otjiwaru, targeting sub-cropping malachite mineralization.

The rig is completing a fence of seven 200-m-deep holes that will cover a 700 m width across the broad 2.5-km-long soil anomaly (Figure 3). The zone targeted has sub-cropping malachite mineralization hosted in fine sediments along strike from a regional EM conductor in a zone of complex structures.

Figure 3. Planned RC drill holes plotted on soil geochemistry anomalies at the Otjiwaru Prospect with regional structural interpretations.

Highly-ranked priority targets are being finalised for the program and will be tested in an order dependent upon access condition and geophysical survey results.

Diamond drilling is expected to follow-up on these regional RC hole fences to define the style and character of the geology and mineralization.

IP Survey

 The geophysical crew has completed collecting high-quality IP data at the Gemboksvlei project and are currently collecting three lines across the Okasewa Prospect (Figure 4).

The survey has commenced with 3 km lines running NNW at 800 m spacing with 100-m-spaced Dipole-Dipole lines. The lines cover known mineralization at the Okasewa resource to determine its IP response. Lines are designed to cover the known mineralization and untested soil geochemical anomalies along strike from EM conductors identified with the airborne EM survey (Figure 4).

Figure 4. Mineral mapping from remote sensing data highlighting chlorite-carbonate alteration (green zones) between Christiadore, Otjiwaru and Okasewa. Soil sample points coloured by copper. Planned drill traverses and IP lines.

Qualified Person

Technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans (P.Geo.), Vice President Exploration and a Director of White Metal, who is a Qualified Person under the definitions established by NI 43-101.

About White Metal Resources Corp.:

White Metal Resources Corp. is a junior exploration company exploring in Canada and southern Africa. The Company’s two key properties are the Flagship Tower Stock Gold Project in Thunder Bay, Ontario, Canada and the Okohongo Copper-Silver Project in Namibia, Africa. For more information about the Company please visit www.whitemetalres.com.

White Metal $WHM Announces New Mineral Resource Estimate Containing 7.7Mt at 1.82% CuEq, Using a 0.30% Cu Cut-off, Taranis (Okohongo) #Copper-Silver #Project, #Namibia

White Metal Resources Corp. (TSXV: WHM) (FRA: CGK1) (OTCMKTS: TNMLF) (“White Metal” or the “Company”) today announced a new Mineral Resource Estimate on the Okohongo Cu-Ag Deposit located within it 95% owned Taranis (Okohongo) Cu-Ag Project (the “Project” or “Property”), as defined by Exclusive Prospecting Licence (“EPL”) 7071 which covers about 19,850 hectares and is located in the Kaoko Copperbelt, northwestern Namibia.

Michael Stares, President & CEO of White Metal, stated, “We believe the results from the new Mineral Resource Estimate demonstrate core value of the Okohongo and this resource, coupled with the more recent exploration work showing very positive copper and silver results both north and south of the Okohongo, really outline the incredible upside to this Project. We believe there is significant opportunity to expand the Okohongo along strike, which at this stage of exploration shows potential along a prospective horizon of more than 20 kilometres. Although White Metal remains focussed on progressing its flagship project, the Tower Stock Gold Project in Ontario, Canada, the Company will continue to advance the Okohongo Copper-Silver Project as one of its primary assets.”

Mineral Resource Estimate

White Metal is very pleased to announce a new Mineral Resource Estimate (“MRE”) for the Taranis (Okohongo) Cu-Ag Project. A total of 3,226 metres of Reverse Circulation (“RC”) drilling in 28 drill holes (518 chip samples in resource) and 781.70 metres of historical diamond drill core in 4 holes (63 core samples in resource) were used to calculate the Mineral Resources in the Inferred category (Table 1). The area covered by the resource is about 740 m (east-west) and 720 m (north-south). Using a cut-off grade of 0.30% Cu and assuming 10% geological loss, the study reported approximately 7.7 million tonnes grading 1.55% Cu and 26.77 g/t Ag with a calculated copper equivalent (CuEq) of 1.82% Cu. A grade-tonnage sensitivity analysis is provided in Table 2. Example cross-sections/ block model views of the MRE are provided in Figures 1 and 2, and 3D image of the conceptual open pit and resource is provided in Figure 1.

The MRE was prepared by Caracle Creek International Consulting MINRES (Pty) Ltd. (“CCIC MINRES”), South Africa, in accordance with current CIM Definition Standards on Mineral Resources and Reserves. A Technical Report in support of the MRE will be filed on SEDAR (www.sedar.com) within 45 days of this news release. The MRE is effective as at August 11, 2021.

Table 1. Mineral Resource Estimate Statement for the Okohongo Cu-Ag Deposit, Namibia (0.30% Cu cut-off).

Classification Tonnes5 Cu (%) Ag (g/t) CuEq3 Cu (t) Ag (oz) CuEq (t)
Inferred 7,706,732 1.55 26.77 1.82 119,256 6,634,133 139,891
  1. The independent Qualified Person for the Mineral Resource Estimate, as defined by NI 43-101, is Mr. Sivanesan (Desmond) Subramani (Pri. Sci. Nat – 400184/06), Caracle Creek International Consulting MINRES (Pty) Ltd. (CCIC MINRES), South Africa. The effective date of the Mineral Resource Estimate is August 11, 2021.
  2. These Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. The quantity and grade of reported Inferred Resources in this Mineral Resource Estimate are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as Indicated or Measured, however it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
  3. Copper equivalent (CuEq) was calculated using a copper price of US$3.75/lb and a silver price of US$25.00/oz and applying the formula: CuEq = Cu% + (Ag g/t * 0.01).
  4. A cut-off grade of 0.30% Cu was used for the low- and high-grade domains. The cut-off grade was determined on the basis of core assay geostatistics and drill core lithologies for the deposit, and by comparison to analogous deposit types.
  5. Tonnages are reported applying a geological loss of 10%, to account for unknown geological discontinuities; 10% is based on experience of other deposits in similar geological settings.
  6. Geological and block models for the Mineral Resource Estimate used data from a total of 24 surface reverse circulation drill holes, completed by White Metal in January-February 2021, and four re-sampled historical diamond drill holes (completed by Teck in 2008 and INV Metals in 2011). The drill hole database was validated prior to resource estimation and QA/QC checks were made using industry-standard control charts for blanks, RC chips sample duplicates, and commercial certified reference material (standards and blanks) inserted into assay batches by White Metal and by comparison of umpire RC chip sample assays performed at a second laboratory.
  7. Estimates in Table 1 have been rounded to two significant figures.
  8. The Inferred Mineral Resources were constrained by a Lerchs-Grossmann conceptual open pit envelope that was developed using the following optimization parameters: i) metal prices of US$3.75/lb copper and $25/oz silver; ii) an overall pit slope of 55 degrees; iii) bulk mining costs of US$2/t (ore) and US$1/t (waste), derived from other comparative copper projects in African copper belts; iv) processing costs and G&A estimated at US$7.80/t; and v) plant recoveries assumed to be 80% copper and 80% silver.
  9. The Mineral Resource Estimate was prepared following the CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines (November 29, 2019).
  10. The geological model as applied to the Mineral Resource Estimate comprises eight Individual wireframes that were created for each grade domain.
  11. The block model was prepared using Datamine Studio RM software. A 50 m x 50 m x 5 m block model was created and samples were composited at 1.0 m intervals. Grade estimation from drill hole data was carried out for Cu and Ag using the Ordinary Kriging interpolation method.
  12. Grade estimation was validated by comparison of input and output statistics, swath plot analysis, and by visual inspection of the assay data, block model, and grade shells in cross-sections.
  13. The applied average specific gravity (2.45 t/m3) was determined on the basis of CCIC MINRES’s in-house library of SG and bulk density measurements from similar deposits in the African copper belts.

Table 2. Grade-Tonnage sensitivity analysis for the Okohongo Cu-Ag Deposit, Namibia.

Cut-off
(%Cu)
Original
Tonnes
 Adjusted
Tonnes5
SG  Cu
(%)
 Ag
(g/t)
 CuEq3 Cu Metal
(t)
Ag Metal
(oz)
CuEq
Metal (t)
0.0 8,647,675 7,782,908 2.45 1.53 26.54 1.80 119,459 6,641,266 140,115
0.1 8,647,675 7,782,908 2.45 1.53 26.54 1.80 119,459 6,641,266 140,115
0.2 8,647,675 7,782,908 2.45 1.53 26.54 1.80 119,459 6,641,266 140,115
0.3 8,563,035 7,706,732 2.45 1.55 26.77 1.82 119,256 6,634,133 139,891
0.4 7,729,289 6,956,360 2.45 1.68 29.09 1.97 116,681 6,506,902 136,920
0.5 7,631,602 6,868,442 2.45 1.69 29.40 1.99 116,320 6,491,169 136,510
0.6 7,602,738 6,842,464 2.45 1.70 29.44 1.99 116,182 6,476,379 136,326
0.7 7,435,124 6,691,612 2.45 1.72 29.71 2.02 115,197 6,392,448 135,080
0.8 7,083,401 6,375,061 2.45 1.77 30.31 2.07 112,772 6,212,486 132,095

Figure 1: Cross-section (looking north) through the middle region of the Okohongo Cu-Ag Deposit (see inset plan map) showing the copper grade distribution in the block model and locations of five RC drill holes completed by the Company (OK20 series) and one re-sampled historical diamond drill hole (TCD series) (coordinate system: WGS84 Z33S).

Figure 2: Cross-section (looking east) through the middle region of the Okohongo Cu-Ag Deposit (see inset plan map) showing the copper grade distribution in the block model and locations of four RC drill holes completed by the Company (OK20 series) (coordinate system: WGS84 Z33S).

Figure 3: Lerchs-Grossmann conceptual pit shell (shaded orange) constraining the Inferred Mineral Resource Estimate (oblique section looking down and north-northwest). The conceptual pit shell opening is about 950 m in length, 615 m in width, and extends to a depth of about 200 m below surface. The deeper, down-dip mineral resources that fall outside of the pit envelope amount to approximately 3% of the total mineral resources inventory calculated.

Additional figures and information about the Mineral Resource Estimate and recent results from the copper exploration programs at Okohongo can be viewed on the Company’s website (https://www.whitemetalres.com/taranis-okohongo-cu-ag.html).

Assays, Quality Assurance/Quality Control and Assay Procedures

Mr. Nico Scholtz was responsible a Qualified Person as defined by NI 43-101 (Pri. Sci. Nat – 400299/07), was responsible for the RC drilling and sampling program, including quality assurance (“QA”) and quality control (“QC”). The RC chip samples were collected from drill using a 3 tier riffle splitter, to split the sample and represented chip samples were collected and logged on site. Samples were taken at 1 metre intervals. Samples were securely transported to the Activation Laboratories Ltd. (“Actlabs”) preparation lab in Windhoek, Namibia.

A Quality Control/Quality Assurance (“QA/QC”) program consisting of the regular insertion of Certified Reference Material (“CRM”) copper standards and blanks into the sample stream by the Company was in place as was the industry standard internal QA/QC practices used by Actlabs. A CRM copper standard was inserted approx. every 20 samples, a control blank was inserted every 15 samples and a duplicate taken every 30 samples. A total of 24 duplicate chip samples were analysed at referee lab ALS Global, an ISO/IEC 7025 accredited lab, based in Johannesburg, South Africa.

Once prepared, Actlabs in Windhoek, Namibia sent the sample pulps directly to Actlabs in Ancaster, Ontario, Canada for analyses. Actlabs is an ISO/IEC 7025 accredited lab and is independent of White Metal. The samples were first analysed with 4-Acid “Near Total” Digestion (1F2) with ICP-OES finish for Ag, Cu and a suite of 33 other elements. Subsequently, samples with Ag greater than 100 ppm (above Ag upper detection limit) were analysed with Fire Assay Gravimetric (8-Ag) and Cu greater than 10,000 ppm (above Cu upper detection limit) were analysed with sodium peroxide fusion with ICP-OES finish (8-Peroxide ICP). Wet sample was transported to the lab without splitting, dried at the Actlabs facility in Windhoek and split afterwards.

Qualified Persons and Data Verification

The independent Qualified Person for the Mineral Resource Estimate, as defined by NI 43-101, is Mr. Sivanesan (Desmond) Subramani (Pri. Sci. Nat – 400184/06), Caracle Creek International Consulting MINRES (Pty) Ltd. (CCIC MINRES), South Africa. Dr. Scott Jobin-Bevans (P.Geo., APGO #0183), a Qualified Person as defined by NI 43-101 and a Director and VP Exploration for White Metal, has reviewed and approved all of the scientific and technical content of this news release.

Triumph Gold $TIG $TIGCF Completes #Artificial #Intelligence Study at the Freegold Mountain Project, #Yukon

Triumph Gold Corp. (TSX-V: TIG | OTCMKTS: TIGCF) (“Triumph Gold” or “the Company”) is pleased to announce that it has concluded an in-depth Artificial Intelligence (“AI”) study focused on the Revenue-Nucleus Area, a large zone of gold-copper-silver-molybdenum mineralization, within their district-scale Freegold Mountain Project (“the Project”) located in Yukon, Canada (Figure 1). The Company engaged Minerva Intelligence Inc. (“Minerva”) to utilize their cutting-edge DRIVER software along with K-Means Cluster Analysis to evaluate multi-element drilling data.

Results from Minerva’s cognitive AI analysis have enhanced Triumph’s technical understanding of the Nucleus and Revenue Deposits by providing confidence in existing models and identifying unrealized controls on mineralization. Key findings are being used to guide current exploration activities at the Freegold Mountain Project, notably:

  1. At the Nucleus Deposit, DRIVER revealed new vectors to gold and copper mineralization not characterized in the current mineral resource delivering superior exploration models and a clear path forward for resource expansion,
  2. At the Revenue Deposit, DRIVER has identified under-evaluated areas at northeast and southern contacts of the diatreme providing credible drill-ready exploration targets, and
  3. In the Revenue-Nucleus Area, K-Means Cluster Analysis highlighted semi-quantitative alteration styles allowing for robust modelling and vectoring toward zones of high-grade mineralization.

“As an exploration company that embraces the application of new technology, Triumph is pleased by the depth of insight provided by Minerva,” says Jesse Halle, VP Exploration for Triumph Gold. “Having over 145,000 metres of drilling at the Freegold Mountain Project, along with a massive amount of other exploration data, Minerva’s AI engine has helped sharpen the focus of our new Technical Team.”

Brian May, Chief Geoscientist for Triumph Gold adds, “DRIVER has validated Triumph’s stratigraphic and structural interpretations in the Nucleus deposit area. Multielement overlaps will be drill-tested to further confirm our technical team’s interpretations this exploration season.”

Scott Tillman, Minerva Intelligence CEO, is excited about the results. “Our ongoing relationship with Triumph Gold is a win-win for our respective companies,” said Tillman. “Triumph’s embrace of our state-of-the-art mining and exploration software is proof-positive of the value our cognitive AI technology can bring to mining and exploration companies. Triumph’s vast amount of data made the results even better than we had expected.”

Figure 1 – Location of the Freegold Mountain Project and Triumph Gold’s 2021 Minerva Artificial Intelligence study of the Revenue-Nucleus Area.

DRIVER Software 

Minerva Intelligence DRIVER software analyzed and evaluated a comprehensive database of geochemical results compiled from multiple generations of diamond drilling in the Revenue and Nucleus Mineral Resource Deposit areas of the Freegold Mountain Project.

Cost-effective computer reasoning generated orientation data for all elements in the dataset. Further work was performed on key economic elements through automated identification of optimal (“preferred”) orientations, in both planar and linear modes. These results provided potential exploration vectors from Triumph’s database that can be used to identify exploration targets in unexplored regions outside the known resources or mineral prospects.

Additionally, Minerva’s cognitive reasoning platform compared elemental association data from hundreds of past and present mines throughout the world with that of the Revenue-Nucleus Area. Comparisons between Triumph’s resources and known deposit types serve as reliable models upon which geologists can confidently develop their exploration and/or development strategies. 

Nucleus Au-Ag-Cu Deposit

The Nucleus Au-Ag-Cu deposit is a complex deposit involving early porphyry-copper and skarn mineralization overprinted with related epithermal styles of mineralization. Triumph Gold’s technical team has recently modeled the skarn-style mineralization to be preferentially located along favourable horizons within the host Yukon-Tanana metamorphic rock package, as well as at contacts with leucogranite dikes and sills. Past geochronology shows at least some of the Au-Ag-Cu mineralization is coincident with the emplacement of east-trending quartz-feldspar porphyry dikes.

The results of DRIVER’s AI analysis were many, including an independent confirmation of the probability shell developed for the 2020 Resource Estimate which was largely based on dike orientation. The close agreement of the optimal orientation and the rigorously-defined gold shell in the deposit area provides confidence in the Resource Estimate and supports this orientation as an exploration opportunity. Minerva believes this type of agreement may soon be utilized to evaluate other metals as potential co- and by-products on a semi-quantitative basis.

An additional previously unappreciated gold orientation was identified from DRIVER’s outputs at the Nucleus deposit, this time along a northwest-trending structure. This orientation is correlated with a fault corridor and coincident dike swarm and represents an additional opportunity for proximal expansion of, and exploration around, the current resource.

The preferred orientations for copper at the Nucleus deposit area resulted in a largely bimodal distribution, which had not been previously understood. The technical team is currently working on identifying underlying reasons for this distribution, along with other vectors controlling economic mineralization.

Revenue Au-Ag-Cu-Mo-W Deposit

The Revenue Deposit consists of porphyry-copper and related epithermal mineralization within a granodiorite to quartz monzonite intrusive complex. Numerous mineralized zones have been discovered at Revenue, notably the gold-copper-silver-molybdenum-bearing Blue Sky and WAu Porphyry and Epithermal Zones and the proximal mineralized diatreme breccia. Several other mineralized centres have been identified in the Revenue deposit area, including the Guder, Revenue West, Grainger, and Keirsten Zones.

Minerva’s optimal orientation DRIVER results for gold, copper, and molybdenum delineate both the southern and the northeastern contact between the diatreme breccia and the granodiorite as primary locations for further evaluation. The DRIVER results also agree very well with the current lithologic model, providing additional confidence for the technical team’s interpretations.

K-Means Cluster Analysis

K-Means Cluster (KMC) Analysis is an unsupervised learning algorithm meant to identify relationships inherent in a dataset. Unlike supervised learning methods, it does not require labeled training data from which to practice and learn, but rather uncovers native associations within the data itself. For multi-element geochemical data, it identifies potential element assemblages present in the data. If executed carefully and with appropriate data preparation, KMC Analysis can reveal complicated patterns in the data that would otherwise be missed.

Geochemical data was analyzed and evaluated using K-Means Cluster Analysis available in ioGAS software. Clusters (or groups of data records with similar geochemistry) are defined and redefined based on minimizing the distance between the data record and the cluster centre. KMC Analysis concludes when either the change in the distance of each of the data points from the respective centres for assigned cluster approaches a minimum, or the specified number of iterations is reached. Multiple iterations were attempted on the data for both the Nucleus and Revenue Deposit areas using various elements, data transforms and/or initial analytical parameters.

Nucleus Au-Ag-Cu Deposit

K-Means Cluster Analysis and subsequent interpretation though discrimination plots suggest the numerous lithologies within the Nucleus Deposit area have been subjected to variable degrees and styles of potassic alteration. Discrimination plots suggest a small proportion of the data is potassic feldspar (K-spar) alteration, implying an underlying copper-porphyry-style signature. The plots are more suggestive of potassic alteration predominantly expressed as secondary sericite. Based on molar ratios, the most recent alteration event is interpreted to preferentially involve plagioclase (predominantly albite) and is largely independent of K-spar. These observations are consistent with mineralization stemming from the intrusion of quartz-feldspar porphyry dikes from a buried porphyry intrusion.

A large portion of the results in the Nucleus Deposit area are consistent with intrusion-related skarn-type mineralization and closely-associated sulphide mineralization. The geochemistry of these high-iron areas is consistent with the appearance of secondary Ca-rich pyroxene and clinochlore. Triumph geologists believe these results are consistent with the skarn-style mineralization observed in many areas of the deposit.

Revenue Au-Ag-Cu-Mo-W Deposit

K-Means Cluster Analysis and subsequent interpretation though discrimination plots highlight the Blue Sky porphyry and contacts of diatreme breccia as the largest zone of extensive alteration, documenting high values for Ca, K and Na. Barium (Ba) is also anomalous in this zone and extends westward towards Keirsten South Zone. These zones are largely underexplored and represent targets for future work.

Specific locations in the Revenue Deposit are flagged in the K-Means Cluster Analysis work as having been subjected to alkali alteration through Na depletion and potassium addition. Results indicate that the dominant potassic phase is K-rich muscovite with only a small subset interpreted as potassium feldspar alteration. This type of alteration is consistent with the ‘low sulphidation’ deposit model proposed for the deposit area.

White Metal Resources $WHM Partner Noronex Outlines Wide-Spread Copper Targets, DorWit Copper-Silver Project, Namibia

Thunder Bay, Ontario, 26 May 2021: White Metal Resources Corp. (TSXV: WHM) (FRA: CGK1) (OTCMKTS: TNMLF) (“White Metal” or the “Company”) is pleased to provide an update from its Australian joint venture partner Noronex Limited (ASX: NRX) (“Noronex”) on their current exploration program at the DorWit Copper-Silver Project (the “Property” or “Project”) in Namibia. The Namibian Project comprises three Exclusive Prospecting Licences (EPLs) that cover 78,000 hectares, referred to as the Witvlei (EPL 7028 and EPL 7029) and Dordabis (EPL 7030) properties. The Project is prospective for sedimentary hosted Cu-Ag mineralisation within the prolific Kalahari Copper Belt that spans Namibia and Botswana.

Highlights from the Noronex exploration program (see Noronex ASX news release 12 May 2021) include:

  • Final data received from the airborne electromagnetic (EM) survey.
  • High priority targets now identified for a large scale sediment hosted copper deposit that have never been drill tested, including:
    • a 2.5 by 1.2 km copper in soil anomaly in an altered structural zone south of Okasewa.
    • a 1.0 x 0.7 km copper in soil anomaly west of historical drill intercepts at Gemboksvlei.
    • a new area at Otjiwaru with a 1.5 km strike soil anomaly.
    • new zones at Dalheim, Okasundu and Christiadore prospect regions.
  • Trial IP survey is planned at the known deposit of Okasewa to define its signature, determine the nature of the EM anomalies and to cover large untested copper soil anomalies.
  • Historical multi-element geochemical surveys, including over seven thousand soil samples completed in 2009, have been compiled and interpreted. This sampling post-dated all previous drilling and geochemical anomalies were never followed up.
  • A GIS database has now been prepared incorporating results of all historic work and recent geophysical surveys with satellite interpretation and structural mapping.
  • A program of over fifty holes is being planned in July/August to test these targets.
  • First JORC Code (JORC 2012) Mineral Resource Estimates on the Company’s four deposits in the Namibian DorWit Project; Malachite Pan, Okasewa, Christiadore and Koperberg (see Noronex ASX news release dated 8 March 2021).

Click link for complete news release:   White Metal Resources Partner Noronex Outlines Wide-Spread Copper Targets, DorWit Copper-Silver Project, Namibia

White Metal Resources $WHM Reports 23 M of 2.31% Cu, 46.3 g/t Ag Including 4 M of 4.74% Cu, 65.1 g/t Ag, Taranis #Copper – #Silver Project, #Namibia

Thunder Bay, Ontario, 18 May 2021: White Metal Resources Corp. (TSXV:WHM) (FRA: CGK1) (“White Metal” or the “Company”) is pleased report that it has received the final batch of assay results from the remaining 15 reverse circulation (“RC”) drill holes from its January-February 2021 drilling program (28 drill holes totalling 3,226 m) (Table 1). The Company previously announced results from 13 drill holes (see Company news releases 23 March 2021 and 8 April 2021). All drill holes from the current program targeted the area of the historical Okohongo Cu-Ag Deposit (“Okohongo”). The 95% owned Taranis Copper-Silver Project (the “Project” or “Property”), which includes the historical Okohongo Copper-Silver Deposit, is located in northwestern Namibia and is defined by Exclusive Prospecting Licence (“EPL”) 7071, covering about 19,850 hectares.

Michael Stares, President & CEO of the Company stated, “We see again that the RC drill holes from Okohongo are confirming the historical results and we look forward to completing a current NI 43-101 mineral resource estimate and technical report very soon. Strong copper and silver prices have given this project a robust valuation and we look forward to receiving our Property renewal in the coming months. We will be working aggressively to maximise the value of our Namibian copper projects, while maintaining our focus on our flagship property, the Tower Stock Gold Property, located in northwestern Ontario, Canada.”

Click link below for tables and entire news release:

White Metal Resources (TSX.V:WHM) (FRA:CGK1) (OTCMKTS:TNMLF) Reports 23 M of 2.31% Cu, 46.3 g/t Ag Including 4 M of 4.74% Cu, 65.1 g/t Ag from Final RC Drilling Results, Taranis Copper-Silver Project, Namibia

www.whitemetalres.com

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.

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