VANCOUVER, British Columbia, Feb. 11, 2020 (GLOBE NEWSWIRE) -- Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: TIGCF) (“Triumph Gold” or the “Company”)
is pleased to release updated mineral resource estimates for the three
deposits (Nucleus, Revenue and Tinta) on the Company’s 100% owned, 200
km2, road accessible Freegold Mountain Property in the Yukon Territory.
The
new mineral resource estimates were generated by Robert Sim (P.Geo.) of
SIM Geological Inc., an independent qualified person and resource
expert with over thirty five years of experience. A new NI43-101
technical report will be available on SEDAR within 45 days. The new
mineral resource estimates are effective as of February 11, 2020 and
supersede the previous mineral resource estimate (Campbell et. al, 2015.
Technical report on the Freegold Mountain Project, Yukon Canada
Resource Estimates), which is available on SEDAR.
Triumph
Gold President, Tony Barresi (Ph.D., P.Geo.), comments: “We are pleased
to present three pit-constrained resources, two of which also have
high-grade underground resources. The new pit constraint, and other
stringent economic parameters applied to the three resource estimates
demonstrate that the mineral deposits exhibit reasonable prospects for
eventual economic extraction as required under NI 43-101. Since 2016
Triumph has been dedicated to bringing shareholder value by first
focusing on grassroots exploration with resource definition to follow.
This effort resulted in a number of new discoveries, including the
high-grade Blue Sky Porphyry Breccia, and the WAu Breccia, both located
within the Revenue deposit. While our attention will remain on
discovery-focused exploration in the near term, we are pleased to
provide updated mineral resource estimates that we believe accurately
assess the resources identified to date, which are contained on our 100%
owned Freegold Mountain Property.”
Technical Highlights of Freegold Mountain Property Mineral Deposits:
- Three
deposits (Figure 1) host open-pit constrained mineral resources, two of
which also include deeper, high-grade, additional mineral resources
that are considered amenable to underground extraction methods.
- Combined
Indicated Mineral Resources from Revenue and Nucleus deposits total
42.4 million tonnes at 0.58 grams per tonne (g/t) gold (Au), 0.08%
copper (Cu) and 1.2 g/t silver (Ag) for a total of 1 million contained
gold equivalent (AuEq) ounces (oz). Combined Inferred Mineral Resources
at Revenue, Nucleus and Tinta total 39 million tonnes at 0.56 g/t gold,
0.10% copper and 4.5 g/t silver for a total of 1.1 million contained
gold equivalent ounces (see Tables 1,2, and 3 for details).
- Higher
grade (>1.4 g/t AuEq) mineralization from the newly discovered Blue
Sky Porphyry Breccia is now included in an underground portion of the
Revenue resource.
- Inclusion of tungsten (W) in the estimate of mineral resources at the Revenue deposit.
Triumph
Gold’s Freegold Mountain Property hosts three road-accessible mineral
deposits (Figure 1). Changes from the 2015 mineral resource estimates,
which were unconstrained, are the result of a combination of new
drilling and the application of updated technical and economic
parameters. The new estimates are either constrained within pit shells
or, in the case of underground mineral resources, show favourable
geometry and continuity of grade and thickness so as to exhibit
reasonable prospects for eventual economic extraction.
TABLE 1: ESTIMATE OF MINERAL RESOURCE FOR THE NUCLEUS DEPOSIT
Class | Tonnes (million) | Average Grade | Contained Metal |
AuEq (g/t) | Au (g/t) | Cu (%) | Ag (g/t) | AuEq koz | Au koz | Cu Mlbs | Ag koz |
Indicated | 31.0 | 0.75 | 0.65 | 0.07 | 0.70 | 748 | 651 | 44 | 698 |
Inferred | 9.4 | 0.63 | 0.56 | 0.04 | 0.72 | 189 | 169 | 9 | 217 |
Note: 0.30 g/t AuEq cut-off grade for pit constrained resources. Koz = thousands of ounces; Mlbs – millions of pounds
TABLE 2: ESTIMATE OF MINERAL RESOURCES FOR THE REVENUE DEPOSIT
Type | Tonnes (million) | Average Grade | Contained Metal |
AuEq (g/t) | Au (g/t) | Cu (%) | Ag (g/t) | Mo (%) | W (%) | AuEq koz | Au koz | Cu Mlbs | Ag koz | Mo klbs | W klbs |
Indicated |
Pit Constrained | 11.4 | 0.69 | 0.38 | 0.12 | 2.4 | 0.016 | 0.008 | 252 | 140 | 30 | 895 | 4089 | 2082 |
Inferred |
Pit Constrained | 25.0 | 0.70 | 0.46 | 0.11 | 2.2 | 0.009 | 0.005 | 565 | 367 | 61 | 1786 | 4954 | 2807 |
Underground | 2.5 | 1.40 | 0.99 | 0.22 | 5.2 | 0.010 | 0.001 | 112 | 79 | 12 | 417 | 525 | 60 |
Combined Inferred | 27.5 | 0.77 | 0.51 | 0.12 | 2.5 | 0.009 | 0.005 | 677 | 446 | 73 | 2203 | 5478 | 2867 |
Note:
0.30 g/t AuEq cut-off grade for pit constrained resources and
1.0g/tAuEq cut-off grade for underground resources. Mo = Molybdenum
TABLE 3: ESTIMATE OF INFERRED MINERAL RESOURCE AT THE TINTA DEPOSIT
Type | Tonnes (000) | Average grade: | Contained Metal: |
AuEq (g/t) | Au (g/t) | Cu (%) | Ag (g/t) | Pb (%) | Zn (%) | AuEq koz | Au koz | Cu Mlbs | Ag koz | Pb Mlbs | Zn Mlbs |
Pit Constrained | 908 | 3.01 | 1.09 | 0.18 | 42.5 | 0.72 | 1.47 | 88 | 32 | 4 | 1240 | 14 | 29 |
Underground | 1313 | 3.13 | 1.43 | 0.16 | 46.3 | 0.56 | 1.17 | 132 | 60 | 5 | 1955 | 16 | 34 |
Combined | 2221 | 3.08 | 1.29 | 0.17 | 44.7 | 0.63 | 1.29 | 220 | 92 | 8 | 3195 | 31 | 63 |
Note: 0.35 g/t AuEq cut-off grade for pit constrained resources and 1.8 g/t AuEq cut-off for underground resources.
TABLE 4: COMBINED ESTIMATE OF MINERAL RESOURCES ON THE FREEGOLD MOUNTAIN PROPERTY
Deposit | Tonnes (million) | Average Grade | Contained Metal | Comments |
AuEq (g/t) | Au (g/t) | Cu (%) | Ag (g/t) | Mo (%) | W (%) | Pb (%) | Zn (%) | AuEq koz | Au koz | Cu Mlbs | Ag koz | Mo (klbs) | W (klbs) | Pb Mlbs | Zn Mlbs |
Indicated |
Nucleus | 31.0 | 0.75 | 0.65 | 0.07 | 0.7 | n/a | n/a | n/a | n/a | 748 | 651 | 44 | 698 | n/a | n/a | n/a | n/a | Pit resources 0.3 g/tAuEq cut-off grade |
Revenue | 11.4 | 0.69 | 0.38 | 0.12 | 2.4 | 0.016 | 0.008 | n/a | n/a | 252 | 140 | 30 | 895 | 4089 | 2082 | n/a | n/a | Pit resources 0.3 g/tAuEq cut-off grade |
Total Indicated | 42.4 | 0.73 | 0.58 | 0.08 | 1.2 | | | | | 1000 | 791 | 74 | 1593 | 4089 | 2082 | | | |
Inferred |
Nucleus | 9.4 | 0.63 | 0.56 | 0.04 | 0.7 | n/a | n/a | n/a | n/a | 189 | 169 | 9 | 217 | n/a | n/a | n/a | n/a | Pit resources 0.3 g/tAuEq cut-off grade |
Revenue | 27.5 | 0.77 | 0.51 | 0.12 | 2.5 | 0.009 | 0.005 | n/a | n/a | 677 | 446 | 73 | 2203 | 5478 | 2867 | n/a | n/a | Pit resources 0.3 g/tAuEq cut-off grade and U/G resources at 1.0 g/tAuEq cut-off grade.
|
Tinta | 2.2 | 3.08 | 1.29 | 0.17 | 44.7 | n/a | n/a | 0.63 | 1.29 | 220 | 92 | 8 | 3195 | n/a | n/a | 31 | 63 | Pit resources 0.35 g/tAuEq cut-off grade and U/G resources at 1.8 g/tAuEq cut-off grade.
|
Total Inferred | 39.0 | 0.86 | 0.56 | 0.10 | 4.5 | | | | | 1085 | 707 | 90 | 5614 | 5499 | 3094 | 31 | 63 | |
Note: U/G = underground; n/a = non applicable
Nucleus
The
Nucleus deposit is an epithermal style gold-silver-copper deposit.
Indicated mineral resources at Nucleus include 31 M tonnes at 0.65 g/t
Au, 0.7 g/t Ag and 0.07% Cu using a 0.3 g/t AuEq cut-off grade. Inferred
mineral resources at Nucleus include 9.4 M tonnes at 0.56 g/t Au, 0.7
g/t Ag and 0.04% Cu. The Nucleus deposit is open to the south and at
depth.
The Nucleus deposit has been tested with a
total of 359 drill holes with a cumulative length of 60,061m. The
mineral resource estimate was generated using drill hole sample assay
results and the interpretation of a geological model which relates to
the spatial distribution of gold, copper and silver. Interpolation
characteristics are defined based on the geology, drill hole spacing,
and geostatistical analysis of the data. The effects of potentially
anomalous high-grade sample data, composited to 1.5 metre intervals, are
controlled using both traditional top-cutting as well as limiting the
distance of influence during block grade interpolation. Block grades are
estimated into a three-dimensional block model with nominal block size
measuring 10x10x5m (LengthxWidthxHeight), using ordinary kriging and
have been validated using a combination of visual and statistical
methods. Resources in the indicated category are delineated by drilling
spaced at maximum 50 metre intervals. Resources in the inferred mineral
category are within a maximum distance of 150 metres from a drill hole.
The estimate of the indicated and inferred mineral resources is
constrained within a limiting pit-shell derived using projected
technical and economic parameters*. The cut-off grade of the base case
estimate of mineral resource is projected to be 0.30 g/t AuEq,
calculated using the formula AuEq=Au g/t + (Ag g/t x 0.012) + (Cu% x
1.371). The sensitivity of the Nucleus mineral resource to cut-off
grade, constrained by the $1500/oz gold pit shell, is shown in Tables 5
and 6.
TABLE 5: SENSITIVITY OF INDICATED MINERAL RESOURCE TO CUT-OFF GRADE FOR THE NUCLEUS DEPOSIT
Cut-off Grade AuEq (g/t) | Tonnes (million) | Average Grade | Contained Metal |
AuEq (g/t) | Au (g/t) | Cu (%) | Ag (g/t) | AuEq koz | Au koz | Cu Mlbs | Ag koz |
0.2 | 39.5 | 0.64 | 0.55 | 0.06 | 0.64 | 815 | 701 | 52 | 812 |
0.3 base case | 31.0 | 0.75 | 0.65 | 0.07 | 0.70 | 748 | 651 | 44 | 698 |
0.4 | 23.2 | 0.88 | 0.78 | 0.07 | 0.75 | 661 | 583 | 35 | 560 |
0.5 | 17.0 | 1.04 | 0.93 | 0.07 | 0.82 | 571 | 510 | 28 | 448 |
Notes:
Resources constrained within $1500/ozAu pit shell. Base case cut-off
grade is 0.30 g/t AuEq for pit constrained resources.
TABLE 6: SENSITIVITY OF INFERRED MINERAL RESOURCE TO CUT-OFF GRADE FOR THE NUCLEUS DEPOSIT
Cut-off Grade AuEq (g/t) | Tonnes (million) | Average Grade | Contained Metal |
AuEq (g/t) | Au (g/t) | Cu (%) | Ag (g/t) | AuEq koz | Au koz | Cu Mlbs | Ag koz |
0.2 | 11.5 | 0.56 | 0.50 | 0.04 | 0.66 | 206 | 183 | 10 | 243 |
0.3 base case | 9.4 | 0.63 | 0.56 | 0.04 | 0.72 | 189 | 169 | 9 | 217 |
0.4 | 6.5 | 0.75 | 0.67 | 0.05 | 0.82 | 156 | 141 | 7 | 171 |
0.5 | 4.4 | 0.89 | 0.81 | 0.05 | 0.91 | 126 | 115 | 5 | 128 |
Note: Resources constrained within $1500/ozAu pit shell. Base case cut-off grade is 0.30 g/t AuEq for pit constrained resources.
Revenue
Revenue
is a gold-silver-copper-molybdenum-tungsten deposit located
approximately 4 km to the southeast of the Nucleus deposit. The new
mineral resource estimate for Revenue improves upon the previous (2015)
estimate with:
1) New drilling that has better delineated the higher grade WAu Breccia domain
2)
Expansion of the resource to the northeast to include higher grade
mineralization at the newly discovered Blue Sky Porphyry Breccia
3)
Inclusion of a >300 metre deep high grade (e.g. 1.4 g/t AuEq) portion
of the Blue Sky Porphyry Breccia in an underground resource
4) Upgrading a portion of the resource into an indicated category
5) Inclusion of tungsten in the resource estimate
Indicated
mineral resources at Revenue include 11.4 M tonnes at 0.38 g/t Au, 2.4
g/t Ag, 0.12% Cu, 0.016% Mo and 0.008% W. Combined open-pit constrained
and underground inferred resources at Revenue include 27.5 M tonnes at
0.51 g/t Au, 2.5 g/t Ag, 0.12% Cu, 0.009% Mo, and 0.005% W. Some of the
known zones of mineralization at Revenue remain open in multiple
directions and to depth; for example, the Blue Sky Porphyry Breccia is
open to the east, west and to depth, and the WAu breccia is open to
depth. Triumph Gold believes there is significant potential in the
immediate vicinity of Revenue for new discoveries.
The
Revenue deposit has been tested with a total of 324 drill holes with a
cumulative length of 55,100m. The mineral resource estimate was
generated using drill hole sample assay results and the interpretation
of a geological model which relates to the spatial distribution of gold,
copper, silver, molybdenum and tungsten. Interpolation characteristics
are defined based on the geology, drill hole spacing, and geostatistical
analysis of the data. The effects of potentially anomalous high-grade
sample data, composited to 1.5 metre intervals, are controlled using
both traditional top-cutting as well as limiting the distance of
influence during block grade interpolation. Block grades are estimated
into the three-dimensional block model with nominal block size measuring
10x10x5m (LengthxWidthxHeight), using ordinary kriging and have been
validated using a combination of visual and statistical methods.
Resources in the indicated category are delineated by drilling spaced at
maximum 50 metre intervals. Resources in the inferred mineral category
are within a maximum distance of 150 metres from a drill hole. The
estimate of the indicated and inferred mineral resources is constrained
within a limiting pit shell derived using projected technical and
economic parameters*. The base case cut-off grade of the estimate of
open pit constrained mineral resources is projected to be 0.30 g/t AuEq
calculated using the formula AuEq = Au g/t + (Ag g/t x 0.012) + (Cu% x
1.371) + (Mo% x 4.114) + (W% x 5.942). Resources below the pit shell
that are considered potentially amenable to bulk underground extraction
methods are estimated at a cut-off grade of 1g/t AuEq. The sensitivity
of the Revenue mineral resources to cut-off grade is shown in Tables 7, 8
and 9.
TABLE 7: SENSITIVITY OF PIT CONSTRAINED INDICATED MINERAL RESOURCES TO CUT-OFF GRADE FOR THE REVENUE DEPOSIT
Cut-Off Grade AuEq (g/t) | Tonnes (million) | Average Grade | Contained Metal |
AuEq (g/t) | Au (g/t) | Cu (%) | Ag (g/t) | Mo (%) | W (%) | AuEq koz | Au koz | Cu Mlbs | Ag koz | Mo klbs | W klbs |
0.2 | 12.6 | 0.65 | 0.36 | 0.11 | 2.3 | 0.015 | 0.008 | 262 | 145 | 31 | 928 | 4197 | 2196 |
0.3 base case | 11.4 | 0.69 | 0.38 | 0.12 | 2.4 | 0.016 | 0.008 | 252 | 140 | 30 | 895 | 4089 | 2082 |
0.4 | 9.2 | 0.77 | 0.43 | 0.13 | 2.7 | 0.019 | 0.009 | 228 | 127 | 26 | 809 | 3754 | 1907 |
0.5 | 7.1 | 0.87 | 0.48 | 0.14 | 3.1 | 0.021 | 0.011 | 197 | 110 | 22 | 701 | 3282 | 1704 |
Notes:
Resources constrained within $1500/ozAu pit shell. Base case cut-off
grade is 0.30 g/t AuEq for pit constrained resources.
TABLE 8: SENSITIVITY OF PIT CONSTRAINED INFERRED MINERAL RESOURCES TO CUT-OFF GRADE FOR THE REVENUE DEPOSIT
Cut-Off Grade AuEq (g/t) | Tonnes (million) | Average Grade | Contained Metal |
AuEq (g/t) | Au (g/t) | Cu (%) | Ag (g/t) | Mo (%) | W (%) | AuEq koz | Au koz | Cu Mlbs | Ag koz | Mo Mlbs | W Mlbs |
0.2 | 36.1 | 0.56 | 0.36 | 0.09 | 1.8 | 0.007 | 0.004 | 653 | 419 | 72.4 | 2049 | 5807 | 3420 |
0.3 base case | 25.0 | 0.70 | 0.46 | 0.11 | 2.2 | 0.009 | 0.005 | 565 | 367 | 61.1 | 1786 | 4954 | 2807 |
0.4 | 17.2 | 0.86 | 0.57 | 0.13 | 2.7 | 0.010 | 0.006 | 479 | 318 | 50.1 | 1516 | 3836 | 2203 |
0.5 | 13.2 | 0.99 | 0.67 | 0.15 | 3.1 | 0.011 | 0.006 | 422 | 285 | 43.4 | 1314 | 3176 | 1807 |
Notes:
Resources constrained within $1500/ozAu pit shell. Base case cut-off
grade is 0.30 g/t AuEq for pit constrained resources.
TABLE 9: SENSITIVITY OF UNDERGROUND INFERRED MINERAL RESOURCES TO CUT-OFF GRADE FOR THE REVENUE DEPOSIT
Cut-Off Grade AuEq (g/t) | Tonnes (million) | Average Grade | Contained Metal |
AuEq (g/t) | Au (g/t) | Cu (%) | Ag (g/t) | Mo (%) | W (%) | AuEq koz | Au koz | Cu Mlbs | Ag koz | Mo klbs | W klbs |
0.8 | 3.0 | 1.32 | 0.92 | 0.22 | 5.0 | 0.010 | 0.001 | 126 | 88 | 14 | 479 | 626 | 72 |
1.0 base case | 2.5 | 1.40 | 0.99 | 0.22 | 5.2 | 0.010 | 0.001 | 112 | 79 | 12 | 417 | 525 | 60 |
1.2 | 1.8 | 1.53 | 1.09 | 0.24 | 5.6 | 0.010 | 0.001 | 86 | 61 | 9 | 313 | 367 | 43 |
1.4 | 1.1 | 1.66 | 1.20 | 0.25 | 6.0 | 0.009 | 0.001 | 60 | 43 | 6 | 215 | 225 | 27 |
1.6 | 0.6 | 1.81 | 1.34 | 0.26 | 6.4 | 0.009 | 0.001 | 34 | 25 | 3 | 118 | 108 | 14 |
1.8 | 0.2 | 1.99 | 1.51 | 0.27 | 7.2 | 0.007 | 0.001 | 15 | 12 | 1.4 | 56 | 36 | 6 |
Tinta
Tinta
is a vein-hosted gold-silver-copper-lead-zinc deposit located on the
southern portion of Triumph Gold’s Freegold Mountain property that
extends to depths approaching 400m below surface. Combined open-pit
constrained and underground inferred resources at Tinta include 2.2 M
tonnes at 1.29 g/t Au, 44.7 g/t Ag, 0.17% Cu, 0.63% Pb and 1.29% Zn. The
Tinta deposit remains open at depth where a number of gold-rich drill
intersections have not yet been followed up on with additional drilling.
Grassroots exploration along strike to the northwest of the Tinta vein
identified a 1.8 km long coincident soil geochemistry and geophysical
anomaly. Seven trenches across the anomaly exposed quartz veins with
precious and base metal mineralization similar to the Tinta vein.
The
Tinta deposit has been tested with a total of 74 drill holes with a
cumulative length of 10,063m plus a total of 450m of underground
drifting in two locations. The mineral resource estimate was generated
using drill hole and drift channel sample assay results and the
interpretation of a geological model which relates to the spatial
distribution of gold, copper, silver, lead and zinc. Interpolation
characteristics are defined based on the geology, drill hole spacing,
and geostatistical analysis of the data. The effects of potentially
anomalous high-grade sample data, composited to 1 metre intervals, are
controlled by limiting the distance of influence during block grade
interpolation. Block grades are estimated into the three-dimensional
block model with nominal block size measuring 2x5x5m. The block model is
rotated so the short axis (2m blocks) are perpendicular to the strike
of the deposit at an azimuth of 305 degrees and the larger block
dimensions are oriented along strike and in the vertical dimension.
Grade estimates are made using ordinary kriging and have been validated
using a combination of visual and statistical methods. Resources in the
inferred category are within a maximum distance of 50m from drilling or
underground channel samples. The base case cut-off grade of the open pit
constrained mineral resource is projected to be 0.35 g/t AuEq
calculated using the formula AuEq = Au g/t + (Ag g/t x 0.012) + (Cu% x
1.371) + (Pb% x 0.457) + (Zn% x 0.571). Resources below the pit shell
that are considered potentially amenable to underground extraction
methods are estimated at a cut-off grade of 1.8 g/t AuEq. The
sensitivity of the Tinta mineral resources to cut-off grade is shown in
Tables 10 and 11.
TABLE 10: SENSITIVITY OF PIT CONSTRAINED INFERRED MINERAL RESOURCES TO CUT-OFF GRADE AT THE TINTA DEPOSIT
Cut-Off Grade AuEq (g/t) | Tonnes (000) | Average grade: | Contained Metal: |
AuEq (g/t) | Au (g/t) | Cu (%) | Ag (g/t) | Pb (%) | Zn (%) | AuEq koz | Au koz | Cu Mlbs | Ag koz | Pb Mlbs | Zn Mlbs |
0.25 | 919 | 2.98 | 1.07 | 0.18 | 42.0 | 0.71 | 1.45 | 88 | 32 | 3.6 | 1241 | 14 | 29 |
0.3 | 913 | 2.99 | 1.08 | 0.18 | 42.2 | 0.72 | 1.46 | 88 | 32 | 3.6 | 1240 | 14 | 29 |
0.35 Base Case | 908 | 3.01 | 1.09 | 0.18 | 42.5 | 0.72 | 1.47 | 88 | 32 | 3.6 | 1240 | 14 | 29 |
0.4 | 906 | 3.01 | 1.09 | 0.18 | 42.6 | 0.72 | 1.47 | 88 | 32 | 3.6 | 1240 | 14 | 29 |
0.45 | 901 | 3.03 | 1.09 | 0.18 | 42.8 | 0.73 | 1.48 | 88 | 32 | 3.6 | 1239 | 14 | 29 |
0.5 | 893 | 3.05 | 1.10 | 0.18 | 43.1 | 0.73 | 1.49 | 88 | 32 | 3.5 | 1238 | 14 | 29 |
Note: Resources constrained within $1500/ozAu pit shell.
TABLE 11: SENSITIVITY OF UNDERGROUND INFERRED MINERAL RESOURCES TO CUT-OFF GRADE AT THE TINTA DEPOSIT
Cut-Off Grade AuEq (g/t) | Tonnes (000) | Average grade: | Contained Metal: |
AuEq (g/t) | Au (g/t) | Cu (%) | Ag (g/t) | Pb (%) | Zn (%) | AuEq koz | Au koz | Cu Mlbs | Ag koz | Pb Mlbs | Zn Mlbs |
1.4 | 1,646 | 2.82 | 1.26 | 0.15 | 41.7 | 0.53 | 1.07 | 149 | 67 | 5.4 | 2204 | 19 | 39 |
1.6 | 1,466 | 2.98 | 1.35 | 0.16 | 44.1 | 0.55 | 1.12 | 140 | 64 | 5.0 | 2080 | 18 | 36 |
1.8 Base Case | 1,313 | 3.13 | 1.43 | 0.16 | 46.3 | 0.56 | 1.17 | 132 | 60 | 4.7 | 1955 | 16 | 34 |
2 | 1,177 | 3.27 | 1.49 | 0.17 | 48.5 | 0.58 | 1.23 | 124 | 57 | 4.3 | 1836 | 15 | 32 |
2.2 | 1,048 | 3.42 | 1.56 | 0.17 | 50.7 | 0.61 | 1.30 | 115 | 52 | 3.9 | 1709 | 14 | 30 |
2.4 | 905 | 3.59 | 1.63 | 0.18 | 53.8 | 0.64 | 1.37 | 104 | 47 | 3.5 | 1564 | 13 | 27 |
Note: Resources constrained below the $1500/ozAu pit shell.
Notes
*
The economic viability of the mineral resources at the Freegold
property were tested by constraining them within a floating cone pit
shells, or evaluating the viability of possible underground extraction
using the following technical and economic parameters:
• | Mining Cost (open pit) | $2.50/t |
• | Mining Cost (underground) | $25/t at Revenue, $60/t at Tinta |
• | Process | $11/t at Nucleus and Revenue, $12/t at Tinta |
• | G&A | $1.50/t at Nucleus and Revenue, $2.50/t at Tinta |
• | Gold Price | $1,500/oz |
• | Silver Price | $18/oz |
• | Copper Price | $3.00/lb |
• | Lead Price | $1.00/lb |
• | Zinc Price | $1.25/lb |
• | Molybdenum price | $9.00/lb |
• | Tungsten price | $13.00/lb |
• | Gold Process Recovery | 85% |
• | Silver Process Recovery | 60% |
• | Copper Process Recovery | 75% (80% at Tinta) |
• | Lead Process Recovery | 75% (Tinta only) |
• | Zinc Process Recovery | 75% (Tinta Only) |
• | Mo Process Recovery | 50% (Revenue Only) |
• | Tungsten Process Recovery | 50% (Revenue Only) |
• | Pit Slope | 45 degrees |
There
are no adjustments for mining recoveries or dilution. The open pit
testing indicates that some of the deeper mineralization may not be
economic due to the increased waste stripping requirements. Underground
mineral resources exhibit continuity of thickness and grade and are
considered to exhibit reasonable prospects for eventual economic
extraction using underground extraction methods at the projected cut-off
grades. It is important to recognize that these discussions of surface
and underground mining parameters are used solely to test the
“reasonable prospects for eventual economic extraction,” and that they
do not represent an attempt to estimate mineral reserves. There are no
mineral reserves calculated for this Project. These preliminary
evaluations are used to prepare the mineral resource estimates and to
select appropriate reporting assumptions.
Quality Assurance
All
Triumph’s sample assay results have been independently monitored
through a quality control / quality assurance (“QA/QC”) program that
includes the insertion of blind standards, blanks and pulp and reject
duplicate samples. Logging and sampling are completed at Triumph’s
secure facility located at the Freegold project. Predominately NTW and
HTW sized drill core is sawn in half on site and half drill-core samples
are securely transported to prep laboratories in Whitehorse for
crushing and pulverizing and then to geochemical laboratories located in
Vancouver, Canada for analysis. Gold content is determined by fire
assay of a 30 gram charge and the additional elements are determined by
four-acid, or historically aqua regia, digestion with ICP finish. ALS
and SGS Labs have been used and both are independent from Triumph.
Triumph
is not aware of any drilling, sampling, recovery or other factors that
could materially affect the accuracy or reliability of the data referred
to herein.
Qualified Persons
Robert
Sim, P.Geo., a Qualified Person as defined by NI 43-101, is responsible
for the estimate of mineral resources presented in this news release
and has reviewed, verified and approved the contents of this news
release as they relate to the mineral resource estimate, including the
sampling, analytical, and test data underlying the mineral resource
estimate. Mr. Sim is independent from Triumph and confirms there were no
limitations from the company in verifying the drilling and sample data
with site visit observations and monitoring of the QAQC program.
Tony
Barresi, Ph.D., P.Geo., President of the Company, and qualified person
as defined by NI 43-101 for the Freegold Mountain project has reviewed,
verified and approved the contents of this news release as they relate
to the ongoing exploration and development program at the Freegold
Mountain project.
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 "Tony Barresi"
Tony Barresi, President
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 expectations. 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.
A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/09f34c67-f8c9-419c-9478-d89d003cce5e