November 15, 2017                                                                                                                               TSX.V: TIG

PR # 17-14                                                                                                                                                 OTCMKTS: NFRGF

Frankfurt: 8N61

 

Triumph Gold Announces Discovery of High-Grade Gold in Least-Explored Portion of the Revenue Deposit Including a 7-metre Interval Grading 15.0 grams/tonne Gold

 

Vancouver, British Columbia: November 15, 2017. Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: NFRGF) (“Triumph Gold” or the “Company”) is pleased to announce that exploration drilling in an underexplored portion of the Revenue soil anomaly intersected high-grade gold mineralization in granite south of the Revenue diatreme. Highlights from diamond drill hole RVD17-14 include:

  • Visible gold over a 5-metre interval (129 – 134 m).
  • Contained within a 7-metre interval (129 – 136 m) of gold-silver-copper mineralization with a length*** weighted grade of 15.0 grams/tonne (g/t) gold (see below).
  • Including a 1-metre interval (129 – 130 m), re-assayed three times, grading between 45.0 and 81.3 g/t gold.
  • The drill hole was collared in the immediate catchment of a renowned placer creek (Revenue Creek), and the mineral association, coarse gold with bismuthinite, is the same as the placer gold.

RVD17-14 (Table 1) was drilled within a 1.2 X 0.5 kilometre multi-element, gold-rich, soil anomaly on a broad ridge that separates Whirlwind Pup and Revenue Creeks on the southern side of the Revenue diatreme. It is in the immediate catchment of the Revenue Creek placer gold deposit, renowned for having had one of the most gold-rich channels in the Dawson Range. Historical exploration within the anomaly documented two gold showings, suggesting that the entire area is prospective for high-grade lode gold, and may be the source for much of the abundant placer gold found in Revenue Creek:

  • the Klaus Zone which is immediately above the historical (pre-placer mining) confluence of Whirlwind Pup and Revenue Creek; and
  • the Guder Zone, which is approximately 400 metres past the confluence, up the ridge to the south.

Historical assay results for the two zones are noted below and in Table 3.

RVD17-14, the first modern drill hole in the area, was collared in the Guder Zone, 200 metres away from any historical trenching or drilling, within an outstanding and previously untested portion of the gold-in-soil anomaly, which includes four high grade samples (3.37 g/t, 2.26 g/t, 0.83 g/t and 0.88 g/t). The drill hole intersected a seven-metre-long interval (129 – 134 m) of strong gold-silver-copper mineralization with gold disseminated within intergrown pyrite-arsenopyrite-chalcopyrite-bismuthinite and carbonate veins. The interval includes a 5-metre section with visible gold.

The tenor of gold mineralization in RVD17-14 is high as confirmed by repeated assay results, however, the results indicate a pronounced nugget effect. To reduce the nugget effect Table 2 includes the averaged results from repeat fire assays (with gravimetric finishes for Au>10 g/t) See the bottom of the news release for a table of all gold results from the high-grade interval.

For location maps and photographs of visible gold in core see Triumph Gold Corp.’s website at:

http://www.triumphgoldcorp.com/projects/freegold-mountain/revenue-deposit/maps/

 

Table 1: Location and Orientation of 2017 Diamond Drill Holes Testing the Guder Zone

Hole # Easting** Northing** Azimuth Inclination Depth (m)
RVD17-14 382201 6913044 000 -50 341.38
RVD17-15 382201 6913044 000 -60 245.16

 

Table 2: Results from high-grade gold intercept in RVD17-14

From (m) To (m) Length (m)*** Au (g/t) Ag (g/t) Cu (%)
129.00 130.00 1.00 63.67 21.4 0.006
130.00 130.88 0.88 2.85 0.6 0.002
130.88 132.00 1.12 0.92 2.8 0.204
132.00 134.00 2.00 5.03 6.1 0.067
134.00 136.00 2.00 2.74 6.6 0.208
Length Weighted Average over 7m 15.04 7.2 0.113

Historical Exploration in the Vicinity of RVD17-14

The 1.2 X 0.5 km soil anomaly between Whirlwind Pup and Revenue Creek has seen less drilling that any other area near the Revenue diatreme. Limited historical exploration documented significant concentrations of gold in the Klaus and Guder zones (Main and Duke 1987), including:

  • trench samples in the Klaus Zone grading up to 32.98 g/t Au over 20 cm; 14.3 g/t over 1 m, and 3.67 g/t over 1 m;
  • trench samples in the Guder Zone grading up to 20.24 g/t Au over 6.1 m; and
  • high-grade gold in drill intersections from the Guder Zone (Table 3).

 

Table 3: Historical drill intersections in the Guder Zone

Hole # From

(m)

To

(m)

Length*** (m) Au (g/t) Ag (g/t) Cu

(%)

GRS84-09 51.82 53.34 1.52 24.858 4.3 Not tested
Including 51.82 52.73 0.91 39.086 6.2 Not tested
GRD68-05 80.16 81.38 1.22 11.657 69.3 6.800
GRD69-01 38.22 39.60 1.38 5.486 37.03 1.680

Other Notable Intersections in RVD17-14

In addition to the high-grade gold intersection in RVD17-14 there were also two other notable mineralized intervals (Table 4):

  • 79 metres (185.00 – 214.79m) of 0.46 g/t AuEq* in rocks with polyphase porphyry veining and potassic alteration at the contact between granite country rock and the Revenue diatreme.
  • 6 metres (331.00 – 337.00 m) of 0.73 g/t AuEq* in sulfide-matrix hydrothermal breccia within the Revenue diatreme.

The 29.79 metres of porphyry mineralization on the margin of the diatreme add to the body of evidence (see PR17-12, PR17-13) that show a broad, at least 2.85 km long, mineralized porphyry at Revenue, which is cored, and cross-cut, by the Revenue diatreme.

Table 4: Full table of Significant Results – Guder Zone Diamond Drilling 2017; Mo < 100ppm not reported

Hole # From

(m)

To

(m)

Length*** (m) Au (g/t) Ag (g/t) Cu

(%)

Mo (%) AuEq* (g/t) CuEq* (%)
RVD17-14 129.00 136.00 7.00 15.044 7.2 0.113 15.32 9.41
And 185.00 214.79 29.79 0.150 3.22 0.122 0.013 0.46 0.28
And 331.00 337.00 6.00 0.079 4.4 0.367 0.73 0.45
RVD17-15 No Significant Assay Results

Paul Reynolds, Triumph Gold’s President and CEO comments “We have only just begun to explore this highly prospective area, which hasn’t been drilled since 1984, and with our very first hole we intersected the highest-grade gold ever found at Revenue. The discovery of coarse gold in RVD17-14 is especially compelling because of its location in the headwaters of Revenue Creek, one of the Dawson Range’s most renowned placer creeks.”

Notes:

* Copper and Gold Equivalent [CuEq, AuEq] are used for illustrative purposes, to express the combined value of copper, gold, silver and molybdenum as a percentage of either 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.

** Coordinates are given in North American Datum 83 (NAD83), Zone 8.

*** Length refers to drill hole intercept. True widths have not been determined.

 

Full Table of Gold Analyses

Each of the five high-grade gold samples reported from RVD17-14 (129-136 m) underwent two sets of fire assay (Table 5) analyses and an additional metallic screen analysis (Table 5).

Table 5: Table of all gold assay and re-assay results for samples I026906 – I026912 (RVD17-14, from 129m to 136 m). FA=Fire assay, GF=FA with Gravimetric Finish, MS=Metallic Screen Technique

Sample From

 

To

 

Length*** Test 1 Test 2   Average of Tests 1 and 2 Test 3
        FA1 FA2 GF FA GF   MS
  m m m g/t g/t g/t g/t g/t g/t g/t
I026906 129.00 130.00 1.00 >10.0 >10.0 81.3 >10.0 47.2 63.67 45.0
I026908 130.00 130.88 0.88 4.00 1.32 3.04 2.85 2.15
I026910 130.88 132.00 1.12 1.01 1.55   0.57   0.92 2.15
I026911 132.00 134.00 2.00 6.62 8.98 >10.0 2.27 5.03 5.84
I026912 134.00 136.00 2.00 2.35 1.58 3.52 2.74 2.36

Note: The average of tests 1 and 2 are calculated by first averaging test 1 FA1 and FA2, and then averaging that result with test 2.

Methods and Qualified Person

Drill core samples ranged between 1 and 2 meters length and were cut at Triumph’s core logging facility on the Freegold Mountain Property. The samples were analyzed by ALS Global of North Vancouver, British Columbia.  They were prepared for analysis according to ALS method PREP35: each sample was crushed to 70% passing 2mm and a 250g split was pulverized to better than 95% passing 106 micron mesh.  Gold was tested by fire assay with atomic absorption finish on a 30g nominal sample (method Au-AA23), and samples that tested over 10 g/t Au were retested using fire assay with a gravimetric finish (method Au-GRA21).  An additional 35 elements were tested by ICP-AES using an Aqua Regia digestion (method ME-ICP41), over limit samples for copper were retested using the same technique but with assay grade Aqua Regia digestion and a higher range of detection (method ME-OG46).  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 one in ten samples submitted by Triumph Gold was a blank or certified reference standard.  QAQC samples that returned unacceptable values triggered investigations into the results and reanalyses of the samples that were tested in the batch with the failed QAQC sample. Where contamination or analytical error were suspected the original data were discarded and superseded by the results of the reanalyses.

The five samples reported in Table 5 were part of a 19-sample batch that included six QAQC samples. The samples were delivered by Triumph Gold personnel directly to the ALS prep-lab in Whitehorse.  All of the samples were tested by the methods discussed in the previous paragraph and the five samples listed in Table 5 were also tested using the gold screen metallic technique (method Au-SCR24).  For this technique the sample was prepared by passing up to 1000g of pulp though a 100 micron mesh and testing both the material that passed through the screen (“-“ fraction) and the material that remained on the screen (“+” fraction). The entire + fraction was tested by fire assay with a gravimetric finish, and the – fraction was homogenized and two 50g splits were tested by fire assay with AAS finish and the results were averaged.  The gold values of the + and – fractions were combined in a weighted average to give the total gold content of the sample.

Some technical information contained in this release is historical in nature and has been compiled from sources believed to be accurate. This technical information has not been verified by Triumph Gold and may in some instances be unverifiable.

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.

Reference

Main, C.A., Duke, J.L., (1988): Revenue Trenching and Geophysics. Assessment Report # 092131, Yukon Department of Energy, Mines and Resources.

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, Chairman
Triumph Gold Corp.
(604) 218-7400
janderson@triumphgoldcorp.com

Nancy Massicotte
IR Pro Communications Inc.
(604)-507-3377
nancy@irprocommunications.com

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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.