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. Au/Cu Geochemical Anomalies click here for pdf
Figure 3. Revenue Drilling click here for pdf
Freegold Mountain Project — 2018 Exploration
A large program of surface and sub-surface mineral exploration was undertaken from March to early October at the Nucleus and Revenue Deposits, as well as the Blue Sky, Happy Creek (Maximus II), Drone, Kiersten, Irene and Cabin Zones. This work included 73 diamond drill holes totalling 17,532.68m, 13 excavator trenches totalling 921m, 8 channel sawed trenches totalling 209m, 865 infill soil samples, 55 rock (grab) samples, 30 line kilometres of deep penetrating IP, and 48 line kilometres of ground mag geophysics.
The 2018 exploration program was mainly focused on testing a six kilometer-long intense multi-element and geophysical anomaly that surrounds the Nucleus and Revenue deposits. A geological review of the Revenue and Nucleus deposits, conducted in 2016, reviled that they are components of a larger porphyry-related mineralizing system. In 2017 Triumph Gold conducted step-out drilling in the surrounding soil and geophysical anomaly and encountered porphyry and/or epithermal mineralization in each of the four areas that were tested. Results from that program included both the highest grade gold mineralization ever intersected at Revenue (7 metres grading 15.0 g/t Au, including 1 metre grading up to 81.3 g/t Au, in RVD17-14; see news release 17-14 Nov 15, 2017, and the highest grade porphyry mineralization intersected on the entire property to date (57 metres grading 1.01 g/t Au and 0.285% Cu, in RVD17-13; see news release 17-13 November 2, 2017. The 2018 exploration program followed up on those positive results, continuing to test the areas where high grade intersections were made in 2017, and further investigating the broad soil and geophysical anomaly that encompasses and surround the areas of known mineralization.
Highlights of the 2018 exploration program include:
- Discovery and extension of high-grade, gold-rich mineralization in the steeply-dipping Blue Sky Porphyry, intersected by eight drill holes, including:
- Expansion of the WAu Breccia, first delineated in 2017, with five new drill holes hosting gold concentrations up to 27.2g/t including 128m of 1.27g/t AuEq (see news release 18-07 July 31, 2018);
- Definition of a 500m long corridor of high-grade porphyry and breccia mineralization, open along strike and to depth including the Blue Sky Porphyry and WAu Breccia (see news release 18-07 July 31, 18-08 August 23, and 18-09 September 12, 2018);
- Definition drilling at the Nucleus Resource which intersected average gold grades exceeding the current inferred mineral resource (0.544g/t Au) in 16 of 21 holes (see news release 18-14 November 7, 2018);
- Discovery of two new gold-copper showings at surface — Maximus II in Happy Creek and the Drone Zone in Mechanic Creek (see news release 18-11 October 16, 2018);
- Discovery of oxide and supergene enriched sulphide in the Revenue, Guder, and Granger zones (see news release 18-12 October 24, 2018); and
- 30 line kilometres of deep penetrating IP-DC-MT and 48 line kilometres of ground mag over the Revenue-Nucleus-Blue Sky area in October of 2018, targeting a buried intrusion — results pending (see news release 18-10 September 20, 2018).
- 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$3.00 per pound of copper, US$1,250.00 per troy ounce of gold, US$16.00 per troy ounce of silver and US$16.00 per pound of molybdenum oxide.
- Drill interval lengths refers to drill hole intercept. True widths have not been determined.