Triumph Gold Purchases Royalty Interest in Golden Revenue Claims
TSX VENTURE: TIG
VANCOUVER, British Columbia, Oct. 25, 2018 (GLOBE NEWSWIRE) -- Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: TIGCF) (“Triumph Gold” or the “Company”) is pleased to announce the purchase of a 2% Net Smelter Return (the “NSR”) interest in the Golden Revenue property, which is wholly contained within the Company’s 100% owned, road accessible Freegold Mountain Property, YT. With this purchase, a critical 9.9 sq. km portion of the Freegold Mountain property, centered over the Blue Sky-Revenue-Nucleus area, is now unencumbered by any royalties (Figure 1).
The NSR relates to 69 claims forming the original Golden Revenue property and was purchased from the original property owner for $100,000. The claims are centered over the Revenue Au-Ag-Cu-Mo deposit and extend approximately three kilometres west, covering one half of the Nucleus Au-Ag-Cu deposit, and one kilometre east, covering the recently delineated WAu Breccia and a portion of the newly discovered high-grade, gold-rich Blue Sky porphyry; they also include the recently discovered Drone Zone (PR18-11, October 16, 2018). Highlights from drilling within the original Golden Revenue property include:
- RVD18-17 with 125.13 metres of 1.24 g/t Au, 7.0 g/t Ag, 0.31% Cu and 0.01% Mo (310.47 – 435.60m) contained within 202.10 metres of 0.87 g/t Au, 5.8 g/t Ag, 0.26% Cu and 0.01% Mo (287.00 – 489.10m) in the Blue Sky Zone.
- RVD18-03 with 72 metres of 0.54 g/t Au, 13.7 g/t Ag, 0.30% Cu and 0.01% Mo (60.00 – 132.00m) contained within 180 metres of 0.31 g/t Au, 5.7 g/t Ag, 0.16% Cu and 0.02% Mo (52.00 – 232.00m), in the WAu Breccia.
- RVD17-14 with 7 metres of 15.0 g/t Au (129 – 136m), in the Guder Zone.
- GRD08-099 with 9.36 metres of 70.19 g/t Au (109.64 – 119.00m) including 1.27 metres of 410.00 g/t Au (113.28 – 114.55m) at Nucleus.
The purchase of this royalty reduces the NSR in most of the Nucleus - Revenue – Blue Sky area to zero percent. The remainder of the Freegold Mountain property has underlying NSR’s ranging from one to three percent, all of which may be bought down to one percent at any time.
Executive Chairman’s Comment
John Anderson, Triumph Gold’s Executive Chairman, comments, “With the recent drilling success at Revenue East and the Blue Sky zone, we thought it imperative to purchase this royalty interest. This should have a significant positive impact on any future economic studies.”
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
For further information please contact:
|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.