VANCOUVER, British Columbia, Oct. 24, 2018 (GLOBE NEWSWIRE) -- Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: TIGCF) (“Triumph Gold” or the “Company”) is pleased to announce the results of exploration drilling in the Granger and Guder zones on its 100% owned, road accessible, Freegold Mountain Property in the Yukon Territory. The Granger and Guder zones (Figure 1) are located in the central portion of a six kilometre long multi-element soil anomaly that also contains the recently discovered high-grade, gold-rich Blue Sky Porphyry over one kilometre to the east and the Nucleus gold deposit over 1.5 kilometres to the west.
Six holes totalling 1,014 metres tested a shallow oxide gold target in the Granger Zone, which is located between the Revenue diatreme and Nucleus gold deposit. Historical exploration in this zone included trenching, rock sampling, with grab samples up to 45.5 g/t (grams per tonne) gold (Au), and percussion, RC (reverse circulation) and limited diamond drilling. Historical drilling intersected 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 mineralization in every hole, delineating a mineralized corridor over 200 metres strike-length and to a depth of at least 74 metres. 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)
The geological setting and the style of mineralization in the Granger Zone are similar to the Nucleus gold deposit, located approximately 1.5 kilometres to the west. Mineralization is focused within a brecciated and highly altered roof pendant of metamorphic rock surrounded by the Revenue Granite and intruded by numerous quartz-feldspar porphyry and microgranite dykes.
Table 1 - 2018 Granger Zone Drill Intersections
Six drill holes totalling 1,352 metres tested the Guder Zone, located approximately one kilometre southeast of the Granger Zone on the south side of the Revenue diatreme. These drill holes followed up on a high-grade gold intersection in RVD17-14 (15.0 g/t Au over seven metres; PR#17-14 dated November 15, 2017), and on porphyry style alteration and veining encountered in the same hole. The 2018 drilling intersected significant copper and gold grades in supergene enriched sulfide (e.g. RVD18-27 with 37.50 metres of 0.26 g/t Au, 3.3 g/t Ag and 0.17% Cu) and hypogene sulfide porphyry style mineralization (e.g. RVD18-37 with 26.38 metres of 0.26 g/t Au, 0.11% Cu). The best porphyry style veining, alteration and mineralization was intersected in the two drill holes collared farthest to the west (RVD18-27 and RVD18-37). This mineralization may be part of a larger mineralized zone also intersected by several historical drill holes approximately 200 metres to the west including RVRC10-031 which collared in 13.71 metres grading 0.49 g/t Au, 6.5 g/t Au, 0.310% Cu (6.10 – 19.81m) and bottomed in 44.20 metres grading 0.51 g/t Au, 3.5 g/t Ag, 0.175% Cu (73.15 – 117.35m).
Table 2 - 2018 Guder Zone Drill Intersections
Paul Reynolds, Triumph Gold’s President and CEO comments, “As we continue to explore the six kilometre multi-element soil anomaly that envelops the Blue Sky, Revenue and Nucleus areas, we are becoming increasingly convinced that the entire area is affected by a very large and vigorous hydrothermal system. Identifying porphyry style mineralization at Guder and Nucleus-like oxide gold mineralization at Granger is an excellent outcome for this portion of the exploration drill program and demonstrates the diversity of targets and extent and complexity of the system.”
Table 3 - Location and Orientation of Drill Holes in the Granger and Guder zones, 2018
|Drill Hole||Easting**||Northing**||Azimuth||Inclination||Total Depth (m)|
* Gold equivalent [AuEq], and copper equivalent [CuEq] are used for illustrative purposes, to express the combined value of gold, silver, molybdenum and copper as a percentage of gold or copper. No allowances have been made for recovery losses that would occur in a mining scenario. AuEq and CuEq are calculated on the basis of US$3.00 per pound of copper, US$16.00 per pound of molybdenum, US$1,250 per troy ounce of gold and US$16.00 per troy ounce of silver.
** Coordinates are given in North American Datum 83 (NAD83), Zone 8.
*** Length/interval refer to drill hole intercept. True widths have not been determined.
Methods and Qualified Person
Drill core samples ranged between 1 and 2 metres length and were cut at Triumph’s core logging facility on the Freegold Mountain Property. 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 50g screened metallics (GO FAS50M), which uses a combination of AAS, ICP-AES and gravimetric finishes to determine gold contained in both a fine and coarse fraction after being sieved through 106 mesh. An additional 35 elements were tested by ICP-AES using a four-acid digestion (method GE ICP40B), over limit samples for copper were retested using the same technique but with assay grade four acid digestion and a higher range of detection (method GA AAS42S). 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.
The technical content of this news release has been reviewed and approved by Tony Barresi, Ph.D., P.Geo., VP Exploration for the company, and qualified person as defined by National Instrument 43-101.
About Triumph Gold Corp.
Triumph Gold Corp. is a growth oriented Canadian-based precious metals exploration and development company. Triumph Gold Corp. is focused on creating value through the advancement of the district scale Freegold Mountain project in Yukon. For maps and more information, please visit our website www.triumphgoldcorp.com
On behalf of the Board of Directors
Signed "Paul Reynolds"
Paul Reynolds, President & CEO
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John Anderson, Executive Chairman
Triumph Gold Corp.
IR Pro Communications Inc.
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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.