TSX.V: TIG
OTCMKTS: NFRGF
Frankfurt: 8N6
VANCOUVER, June 7, 2017 /CNW/ - Triumph Gold Corp.,
(TSX-V: TIG) (OTCMKTS: NFRGF) (the "Company") has commenced
a 13,000 metre diamond drill program at its road accessible
Freegold Mountain project in the Dawson Range, Yukon. The
program will test several new drill targets identified during 2016
field exploration and data review. The 2016 work focused on
identifying geological controls on mineralization at the Revenue
and Nucleus porphyry deposits on the Freegold Mountain
Property. These studies recognized an early stage of
porphyry-style mineralization that was not targeted during past
exploration. The work defined three new exploration targets,
one each at Revenue and Nucleus, and a newly identified porphyry
target at the Generation Zone.
Drilling is now underway at the Generation Zone, a newly
recognized porphyry Cu-Au system. It is located approximately
800 metres north of the Revenue diatreme in an area with deep
overburden. The Generation Zone is exposed in Revenue Creek
as a result of historical placer mining activity and consists of
multiple generations of dense stockwork veining including 2 mm to 5
cm quartz ± magnetite ± pyrite ± chalcopyrite ± bornite veins,
early epidote veins, and a single 1.5 m thick
quartz-pyrite-chalcopyrite vein. The veins have strongly
sodic and potassic altered selvages. The Generation Zone is
centered above a 2.9 X 1.3 km chargeability high (up to 64
milliradians) with a modeled depth approximately 150 m beneath
surface. Nine historical samples collected from the
Generation Zone assay between 60 and 2,980 parts per million (ppm)
Cu and 5 to 212 parts per billion (ppb) Au, with an average grade
of 706 ppm Cu and 38 ppb gold. The identification of high
density stockwork with multiple vein events, high temperature
alteration, and associated copper and gold mineralization indicates
that the Generation Zone represents a high-temperature core to a
porphyry Cu-Au system. Triumph plans 2,000 metres of drilling
to test this zone.
A second drill will be mobilized within a week and begin
drilling at the Revenue and adjacent Blue Sky Zones. At
Revenue, past exploration focused on the mineralized margin of an
approximately 1 km long elliptical diatreme. The 2016 work
program identified high-temperature potassic alteration and dense
quartz-pyrite-chalcopyrite-molybdenite stockwork veining related to
a hydrothermal system that predates emplacement of the
diatreme. Historical drill holes RVD11-019, RVD11-022, and
RVD11-028 were collared 165 m east of the diatreme and drilled away
from, or parallel to, the diatreme, and each intersected broad
intervals of mineralization related to the early hydrothermal
system (e.g. RVD11-028 0.17% Cu, 0.29 grams/tonne (g/t) Au over
125.07 m [83.23 – 208.30 m]; RVD11-019 0.12% Cu, 0.18 g/t Au over
144.80 m [30.50 – 175.30 m); RVD11-022 0.13% Cu, 0.28 g/t Au over
243.60 m [61.10 – 304.70 m]). Mineralized intervals in drill
holes RVD11-019 and RVD11-028 are contained within broader and
higher grade sections where second stage mineralization, related to
emplacement of a pyroclastic dyke, is superimposed on the earlier
stage porphyry mineralization (e.g. RVD11-019 0.16% Cu, 0.66 g/t Au
over 196.02 m [368.88 – 476.94 m]; RVD11-028 0.22% Cu, 0.47 g/t Au
over 144.80 m [112.20 – 257.00 m]). The porphyry style
mineralization encountered in these drill holes is open to the
north, south and east; to the west it is overprinted by the Revenue
diatreme. The newly recognized highly-prospective area, named
the Blue-Sky Zone, covers over 2.3 km2 with coincident
Cu and Mo soil anomalies and four notable chargeability
anomalies. The Company plans 5,000 metres to test these
areas. Drilling at the Revenue and Blue Sky Zones will
constitute significant step outs, up to 1.5 km, from the current
resource areas at Revenue.
Other areas that will be drill tested include the Nucleus Zone
(4,000m) and a soil and geophysical anomaly that extends 2 km along
strike between the Nucleus and Revenue deposit areas (2,000
m). The Nucleus deposit involves several superimposed deposit
types. Past exploration primarily focused on narrow high
grade gold zones at the southern margin of a leucogranite
intrusion. The 2016 field work identified the leucogranite as
a causative intrusion for early stage porphyry-style gold and
copper mineralization that is overprinted by later mineralization
related to emplacement of quartz-feldspar-porphyry dykes.
Most of the greater than 20 m long drill intersections at Nucleus,
with good gold and copper mineralization, are located at the
contact between the leucogranite and surrounding metamorphic
country rock. Mineralization along this highly-prospective
contact is open to the north along both the eastern and western
margins of the intrusion. Some of the northernmost drill
holes that test the contact have encouraging results including,
GRD06-022, which intersected an
average grade of 0.22% Cu and 0.72 ppm Au over 46.30 m, GRDN01-03
which intersected an average grade of 1.19 g/t Au over 87.47 m, and
GRD08-096 which intersected an
average grade of 0.13% Cu and 0.23 g/t Au over 39.55 m.
Greater than 2.5 km's of the leucogranite contact is untested by
drilling and defines a new exploration opportunity at Nucleus.
The technical content of this news release has been reviewed and
approved by Tony Barresi, Ph.D.,
P.Geo, Vice President Exploration of the company and qualified
person for the purposes of National Instrument 43-101 -- Standards
of Disclosure for Mineral Properties of the Canadian Securities
Administrators.
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
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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.
SOURCE Triumph Gold Corp.
