The Revenue Deposit area is road accessible and centered across, and encompasses, Revenue Creek (Figure 1), a legendary placer gold creek in the Dawson Range. It occupies the central and eastern portion of a 24 km2 gold, copper and molybdenum soil anomaly with values that exceed 1,000 ppb gold and 500 ppm copper. The Nucleus deposit is located 2.5 km to the west of Revenue within the same multi-element soil geochemical anomaly (Figure 2).
Figure 1. Property Geology and Location click here for pdf
Figure 2. Gold and Copper Soil Anomalies click here for pdf
The dominant geological feature at Revenue is a roughly elliptical 1,100 X 500 metre diatreme (Figure 3). Mineralization related to the diatreme includes quartz-sulfide veining and breccias, which are focused near the diatreme contact with biotite-granite host rock, and within peripheral pyroclastic dykes. The circumference of the diatreme defines strong Cu, Au and Mo in soil anomalies, and the diatreme itself is a geophysical anomaly defining magnetic and chargeability lows. Work in 2016 identified that some of the longest and consistently high-grade drill intersections at Revenue are hosted in the biotite granite country-rock and predate emplacement of the diatreme (Table 1). These mineralized zones consist of sheeted and stockwork quartz-sulfide veins that have high-temperature K-feldspar altered selvages and are consistent with a porphyry deposit model.
Figure 3. Revenue Drilling click here for pdf
Table 1. Significant Gold, Copper, Silver and Molybdenum Intercepts.
|From||To||Length (m)1||Au (g/t)||Ag (g/t)||Cu (%)||Mo (%)|
1 True widths unknown
A total of 8,219 metres of diamond drilling in 15 diamond drill holes was completed in the Revenue area in 2017. The focus of exploration at Revenue was shifted from the diatreme to the surrounding country rock, which was drill-tested with systematic, up to 1.3 km, step outs on each side of the diatreme. The program was successful in demonstrating that a broad area surrounding the diatreme is prospective for gold-rich porphyry mineralization. Highlights include:
- Identification of porphyry style mineralization over a greater than 4 km strike length, from Nucleus 2.5 km west of the diatreme, to the Blue Sky Zone, east of the diatreme.
- Definition of a 450-metre-long zone of high-grade, gold-rich porphyry mineralization in the Blue Sky Zone east of the diatreme. This zone is open in both directions along strike and to depth. Intersections include:
- RVD17-13 (88-207m) with 119 metres of copper-molybdenum-gold-silver porphyry style mineralization grading 0.60% CuEq*, including a 57 metre thick (112 – 169m) high-grade, gold-rich core grading 1.09% CuEq* at 1.083 g/t gold and 0.285% copper. See PR17-13 for more information.
- RVD17-12 with 245 metres of copper-molybdenum-gold-silver porphyry style mineralization grading 0.37% CuEq, including a 58.65 metre high-grade, gold-rich core grading 0.94% CuEq* at 0.971 g/t gold and 0.218% copper. See PR17-12 for more information.
- Discovery of the highest-grade gold ever found in drillcore at Revenue, with assays grading up to 81.3 g/t Au over a meter within a seven-metre-long interval (129 – 136 m) of strong gold-silver-copper mineralization grading 15.04 g/t Au, 7.2 g/t Ag and 0.113% Cu with gold disseminated within intergrown pyrite-arsenopyrite-chalcopyrite-bismuthinite and carbonate veins. See PR17-14 for more information.
- Identification of a new gold showing (Happy Creek showing) 1.1 kilometres east of the Revenue diatreme and 400m east of any historical drilling. The showing was tested with two surface samples that graded 5.77 and 3.76 g/t gold, and ten one- to two-metre-long intersections in RVD17-09 that graded above 1 g/t gold. See PR17-13 for more information.
- Identification of a robust porphyry related hydrothermal system responsible for dense stockwork veining, phyllic and potassic alteration and copper-gold mineralization from surface to 603m depth in a single drill hole collared 1.4 km west of the Revenue diatreme in the Keirsten Zone. See PR17-13 for more information.
* Copper Equivalent [CuEq, AuEq] is used for illustrative purposed, to express the combined value of copper, gold silver and molybdenum as a percentage of copper or gold. No allowances have been made for recovery losses that would occur in a mining scenario. CuEq and AuEq are calculated on the basis of US$3.10 per pound of copper, US$1,305 per troy ounce of gold, US$17.40 per troy ounce of silver and US$7.00 per pound of molybdenum oxide.
2018 Exploration Plan
Triumph Gold has a fully funded approximately 3 million dollar exploration plan for the 2018 seasons. The focus of exploration will be on the newly discovered zones of porphyry mineralization surrounding the Revenue diatreme, as well as targeting areas prospective for further expansions. New targets within the Revenue area include zones that have seen highly successful historical near-surface gold exploration but have never been explored for deeper porphyry related mineralization (e.g. Granger Zone, Figure 3).
The current (Dec. 15, 2014) inferred resource for the Revenue deposit is reported at a cut-off grade of 0.5g/t AuEq. The total resource estimate at a AuEq cut-off grade of 0.50g/t is 80.8 million tonnes of mineralized material containing 1.01 million ounces gold, 8.96 million ounces silver, 241 million pounds of copper, and 83 million pounds of molybdenum grading 0.39g/t gold, 3.45g/t silver, 0.14% copper and 0.05% molybdenum (Table 2). Details of the resource estimate can be found in a technical report titled “Technical Report on the Freegold Mountain Project, Yukon, Canada, Resource Estimates, February 28, 2015”. This report is filed on SEDAR.
Table 2 Inferred Mineral Resource Estimate for the Revenue Deposit at Various Au Eq Cutoff Grades
*Gold equivalent (AuEq) is calculated based upon prices of US$1250/oz for gold, US$22.00/oz for silver, US$2.90/lb for copper, and US$10.00/lb for molybdenum and assumes 100% metal recovery. All figures are rounded to reflect the relative accuracy of the estimate and numbers may not add up due to rounding.
** Mineral resources do not demonstrate economic viability, and there is no certainty that these mineral resources will be converted into mineable reserves once economic considerations are applied.
Results of preliminary metallurgical work by SGS in 2012 concluded that with a primary grind size of 120 microns, simple flotation reagents, and no attempts to maximize concentrate grade, recoveries for Au, Ag, Cu and Mo at the Revenue deposit are excellent: 92% Cu, 74% Au, 81%, Mo, 59% Ag.