Freegold Mountain – Project Summary
The road accessible, district scale (~200 sq. km) Freegold Mountain gold-copper project is located within the Dawson Range, approximately 70 km northwest of Carmacks, Yukon Territory, a stable, mining friendly jurisdiction in northwestern Canada. Since Triumph Gold acquired the property in 2006 more than 20 mineralized zones have been identified and NI 43-101 mineral resources have been delineated at the Revenue Au-Ag-Cu-Mo porphyry-related deposit, Nucleus Au-Ag-Cu deposit and the Tinta Hill Au-Ag-Cu-Pb-Zn vein-related deposit. The company continues to aggressively explore, building ounces at the existing deposits and evaluating the multitude of other targets located on the property.
A District-Scale Project in an Emerging Mining Camp
The project is situated within the Dawson Range which is also host to Goldcorp’s Coffee deposit, Western Copper and Gold’s Casino project, Copper North’s Carmack’s Copper project and Rockhaven’s Klaza deposit. Within the district, the Big Creek Fault is recognized as a controlling structure related to many of the most important deposits. Triumph Gold’s Freegold Mountain project is ideally situated within the Dawson Range along one of the only road accessible portions of the Big Creek Fault.
Property Geology and Deposit Styles
The Freegold Mountain property is underlain by Paleozoic metamorphic schist and gneiss of the Yukon Tanana terrane, which was intruded by Jurassic, and Mid- to Late- Cretaceous granitoids. Emplacement of Cretaceous intrusions was focused along dilatational bends that link the North and South Big Creek fault strands. Multiple reactivated regional scale fault systems and emplacement of syn-tectonic intrusions resulted in an impressive metal endowment and several deposit types. The Revenue and Nucleus deposit areas are affected by two superimposed magmatic-hydrothermal events, a Middle Cretaceous porphyry event that is overprinted by Late Cretaceous emplacement of a diatreme, quartz-feldspar-porphyry dykes and related sulfide-matrix hydrothermal breccias. The property encompasses several other porphyry-style exploration targets including the Generation Zone, Stoddart, Cabin, Nitro, and Castle. Outboard of the porphyry showings there are a number of gold-rich epithermal vein showings including Irene, Ridge, Goldy and Dart, and gold rich skarn showings including Guder and Discovery. Tinta Hill is an intrusion hosted copper-gold enriched poly-metallic vein-type deposit. These showings, along with over a dozen others on the property, have been advanced to various exploration stages. Triumph Gold is committed to growing the resources at Revenue, Nucleus and Tinta, while evaluating and exploring the other showings; identifying new opportunities to increase shareholder value in the Yukon.
2017 Exploration
The 2017 exploration program began in late May and concluded in early September. Work on the property included thirty-five diamond drill holes totaling 12,904 metres in the Revenue and Nucleus areas, over 600 metres of trenching and collection of 993 soil samples at Tinta Hill, and reconnaissance work on a dozen other showings and prospects.
Highlights of the 2017 exploration program include:
- Definition of high grade, gold rich porphyry mineralization in multiple drill holes over a 450m strike length extending from the eastern edge of the Revenue diatreme northeast into the Blue Sky zone including 57m of 1.72 g/t AuEq at 1.08 g/t Au and 0.285% Cu in RVD17-13 (see news release 17-13, November 2, 2017);
- 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 news release 17-13, November 2, 2017);
- Discovery of a new gold showing (Happy Creek showing) on the far eastern side of the Revenue/Nucleus 5.5 X 2.0 km soil/geophysical anomaly, 400m east of any historical drilling and over 1 km east of the Revenue diatreme. The showing is defined with surface grab samples that grade up to 5.77 g/t gold and a 236m drill intersection with a length weighted average gold grade of 0.238 g/t (see news release 17-13, November 2, 2017);
- Discovery of high grade gold mineralization in a single drill hole at the Guder zone, south of the Revenue diatreme including 7m of 15.0 g/t Au (see news release 17-14, November 15, 2017);
- Multiple intersections of Au-Cu mineralization on eastern side of the Revenue diatreme including 58.65m of 1.48 g/t AuEq at 0.971 g/t Au and 0.22% Cu (see news release 17-12, October 19, 2017) ; and
- Discovery of Tinta Hill vein structure up to 1.17 km to the northwest of its previous known extent.
A primary objective of the 2017 drill program near Revenue was to demonstrate through systematic step outs that the Revenue diatreme is part of a larger porphyry system. The idea was tested with drilling at the Blue Sky and Keirsten Zones which extend approximately one km to the east and west of the Revenue diatreme, respectively. Porphyry mineralization at Revenue extends from at least the Keirsten Zone to the Blue Sky Zone, and was encountered in the farthest step out holes both east and west of the Revenue diatreme. The mineralizing system is composed of a large porphyry, at least 2.85 km in strike length, with a mineralized diatreme in its center and the Nucleus gold deposit off its western flank. If gold mineralization encountered in the newly discovered Happy Creek showing is also porphyry related then the strike length of porphyry mineralization is increased to 3.6 km. Within the diatreme and surrounding granite there are numerous drill intersections of good copper-gold, silver and molybdenum grades, however, now with the results of 2017 drilling, there is a demonstrated zone of high-grade, gold-rich, porphyry style mineralization that extends at least 450 meters from the eastern margin of the Revenue diatreme eastward into the Blue Sky Zone, where it appears to be increasing in grade, and remains open to the northeast and depth.
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.
- Drill interval lengths refers to drill hole intercept. True widths have not been determined.
Indicated and Inferred Mineral Resource Estimate for the Nucleus Deposit (December 15, 2014)
Table 1: Indicated Mineral Resource Estimate for Nucleus Deposit at Various Au Eq Cutoff Grades
| AuEq* (g/t) | Gold | Silver | Copper | ||||
| Cut-off | Tonnes | Grade (g/t) | Ozs | Grade (g/t) | Ozs | Grade (ppm) |
lbs |
| 0.3 g/t | 74,740,000 | 0.544 | 1,310,000 | 0.906 | 2,180,000 | 639.328 | 105,340,000 |
| 0.6 g/t | 23,390,000 | 1.068 | 800,000 | 1.199 | 900,000 | 801.113 | 41,300,000 |
Table 2: Inferred Mineral Resource Estimate for Nucleus Deposit at Various Au Eq Cutoff Grades
| AuEq* (g/t) | Gold | Silver | Copper | ||||
| Cut-off | Tonnes | Grade (g/t) | Ozs | Grade (g/t) | Ozs | Grade (ppm) |
lbs |
| 0.3 g/t | 63,790,000 | 0.390 | 800,000 | 1.535 | 3,150,000 | 491.799 | 69,160,000 |
| 0.6 g/t | 8,700,000 | 0.866 | 240,000 | 2.373 | 660,000 | 421.116 | 8,080,000 |
Inferred Mineral Resource Estimate for the Revenue Deposit (December 15, 2014)
Table 3: Inferred Mineral Resource Estimate for Revenue Deposit at 0.5 g/t Au Eq Cutoff Grade
Inferred Mineral Resource Estimate for the Tinta Hill Deposit (December 15, 2014)
Table 4: Inferred Mineral Resource Estimate for Tinta Hill Deposit at 0.5 g/t Au Cutoff Grade
- 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.
- The resource estimate is categorized as Indicated and Inferred as defined by the CIM guidelines for resource reporting. 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.
- The above mineral resource estimates have been prepared in compliance with the standards of NI 43-101 by J. Campbell, B.Sc., P. Geo., A. Armitage, Ph.D., P. Geol., A. Sexton, M.Sc., P. Geo., and D. Studd, M.Sc., P. Geo. of GeoVector Management Inc.
Tony Barresi, Ph.D., P. Geo., VP Exploration of Triumph Gold Corp., is the qualified person, as defined by NI 43-101, and has reviewed the technical information in this summary.