Sep 18 2020
Triumph Gold Corp, a Canadian-based gold exploration and development company, has provided an update on the 2020 exploration season on its fully owned Freegold Mountain Project situated in the prolific Dawson Range of Yukon, Canada.
The Freegold Mountain Project, which can be accessed by road, hosts three NI 43-101 Mineral Deposits and spans a wide section of the Big Creek Fault zone—a structure directly associated with epithermal gold and silver mineralization and also with gold-rich porphyry copper mineralization.
Triumph Gold started its fully funded exploration program at the Freegold Mountain Project on August 1st, 2020 (PR20-07) and has currently completed the brief but successful field-based part of the program.
The 2020 program was developed to check near-surface gold targets identified in the Mount Freegold as well as the Nucleus-Revenue areas. Field exploration continued as scheduled, even though access to the Irene-Goldstar Corridor and Melissa Zone was restricted because of unusually high rainfall over the season.
The 2020 exploration program created nine diamond drill holes totaling 2068.52 m, plus reconnaissance sampling and minor trenching.
The Triumph Gold exploration team conducted a productive and successful field program in 2020 despite the unprecedented challenges faced. The program focused on greenfield, near-surface gold targets which coupled with a strong gold market should unlock additional value for our shareholders.
John Anderson, Chief Executive Officer and Chairman, Triumph Gold Corp
Jesse Halle, VP Exploration added, “The Freegold Mountain Project continues to show its exploration up-side with every drill hole and new surface exposure, even in the greenfield locations, displaying eye-opening alteration and mineralization. I’m looking forward to the assay results and to an expanded exploration program in 2021.”
2020 Exploration Highlights Include:
- Drill testing of an anomaly detected by the new drill hole-constrained 3D magnetic inversion model at Keirsten Zone, intersected well sulfurized and magnetic porphyry copper-gold alteration and mineralization (assays are pending)
- Drill testing of an anomaly detected by the new drill hole-constrained 3D magnetic inversion model situated at Revenue East, intersected altered rocks comprising bismuthinite, chalcopyrite, visible gold, molybdenite, arsenopyrite, and scheelite (assays are pending)
- Inaugural drilling performed at Keirsten South, situated more than 1 km south of the Keirsten Zone, intersected new and potential copper bearing rocks (assays are pending), and also associated with porphyry copper-gold mineralization
- Trench sampling of new bedrock identified by ongoing placer gold mining at Happy Creek, revealed pyritic plutonic rock comprising chalcopyrite (assays are pending)
- Drill testing of a fence of holes inside the Irene-Goldstar Epithermal Corridor (PR20-03) revealed numerous broadly mineralized zones comprising sphalerite, arsenopyrite and local trace chalcopyrite, and galena in schists and gneiss (assays are pending)
- Intersection of the high-grade epithermal Goldstar Vein, which is around 50 vertical meters below the formerly tested extent of the vein, implied continuity of the Goldstar Vein to a minimum of 100 m down dip (assays are pending), and
- Reconnaissance sampling of fresh subcrop along a new access road to the Melissa Zone revealed a large stibnite vein (assays are pending) among various quartz-feldspar porphyry dikes in locally hornfelsed and pyritic schist and gneiss comprising thick, cross-cutting quartz veins.
The entire drill core and rock samples from the 2020 field exploration program have been sent to SGS for both preparation and final analysis. Test results are anticipated in the coming months and will be reported once they pass quality control and quality assurance efforts. Currently, new geology and mineralization are being modeled, and positive drill outcomes will be followed-up in the spring of 2021.
There are 15 confirmed cases of the coronavirus disease (COVID-19) in the Yukon, as of September 17th, 2020. All these cases have been resolved by complete recovery. Triumph Gold is dedicated to the safety and health of its contractors and employees.
With suggestions from the Yukon Government and Yukon Chamber of Mines, Triumph Gold has designed and implemented infection prevention and control efforts at the Freegold Mountain Property to help reduce the risk of possible COVID-19 transmission in the camp and at associated work locations.
Visitors, contractors, and employees were monitored frequently for symptoms and must review and conform to present territorial and federal regulations, and also to Triumph Gold’s prevention policies described in the company’s COVID-19 Operational Plan while on site.
In case anyone on site has shown COVID-19 or symptoms of the COVID-19 infection, the entire personnel would have to follow the Triumph Gold Corp COVID-19 Emergency Response Plan.
All service providers and camp employees were sourced from the Yukon, except for Triumph corporate management, who adhered to guidelines and regulations upon entering the Territory.
Precious Metals Summit Presentation
Triumph Gold took part in 2020’s virtual Precious Metals Summit held from September 15th-17th, 2020. John Anderson, CEO and Chairman of the company, provided a corporate update on September 16th, 2020 in Virtual Room 2.
Investor Relations Engagement
Triumph Gold is also delighted to announce that it has maintained the services of Mars Investor Relations Corp., a full-service investor relations and consulting services firm focused on the junior mining industry.
Under the conditions of the engagement agreement (Agreement), Triumph Gold will compensate Mars Investor Relations with $144,000 for the 12-month initial term of the Agreement and has granted it stock options (Options) that can be exercised to acquire an aggregate of 300,000 common shares at a cost of $0.30 per share.
Furthermore, Mars Investor Relations and its affiliates presently hold 2,500,000 common shares, but the company may from time to time dispose or acquire securities of Triumph Gold through the market, privately or otherwise, as deemed by market conditions or circumstances. Mars Investor Relations is at arm’s length to Triumph Gold and has no other association with the latter, except pursuant to the Agreement.