VANCOUVER, Jan. 22, 2018 /CNW/ - Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: NFRGF) ("Triumph Gold" or the "Company") is pleased to announce the results of prospecting and geological mapping on the Andalusite Peak property. Highlights of exploration include:
Discovery of two new gold-silver-copper occurrences, the Julep and the Gentleman vein (Figure 1, Table 1).
The Julep showing consists of a feldspar porphyritic mafic intrusion with disseminated clots and veins of tetrahedrite, chalcocite and secondary malachite and azurite. It was grab sampled in two locations 21 metres apart. Sample E446453 graded 1.18 grams/tonne (g/t) Au, 11.2 g/t Ag and 1.135% Cu, sample E446454 graded 21.1 g/t Ag and 2.72% Cu. The size and geometry of the showing was not fully mapped, and it remains open.
The Gentleman vein consists of an up to 20 cm thick chalcopyrite rich quartz-carbonate-magnetite-sulfide vein, with strongly altered and mineralized selvages. The vein was grab sampled in two locations 17 metres apart: Sample I044403 graded 1.84 g/t Au, 17.3 g/t Ag and 2.25% Cu, Sample E446455 graded 0.459 g/t Au, 2.4 g/t Ag and 0.163% Cu. The vein was identified where it crosses a mountain-top saddle. It remains open to the northwest and southeast.
Alteration mapping, aided by the collection and analysis of 67 near-infrared reflectance (TerraSpec) samples, verified that the property has been affected by intense phyllic to advanced argillic alteration over an approximately 2 X 2 km area, constituting one of the largest and most intense alteration zones in northern British Columbia.
Table 1 Geochemical Results from Mineralized Samples* at Andalusite Peak
NAD83 Zone 9
About the Andalusite Peak Property
The Andalusite Peak property was acquired by staking in January 2017. It is located in northwestern British Columbia 65 km north of the Red Chris Cu-Au mine, 20 km west of BC highway 37, and 7 km south of the Kutcho Creek mining road. The property covers an alteration "blow-out" in the center of a 27-kilometer-long belt of strongly altered rock that was identified and mapped in 2016 by BC Geological Survey geologist Bram van Straaten. Two similar alteration blowouts are known along the belt and both represent important exploration properties: 1) the Tanzilla property, 11 km to the northwest of Andalusite Peak, is owned by Kaizen Discovery and was optioned to Freeport McMoRan between 2013 and 2015, and 2) Teck Resources' McBride property is 12 km to the southeast of Andalusite Peak. On these properties, porphyry-style mineralization has been identified within and beneath the alteration lithocap. Only one historical record of exploration on the Andalusite Peak property exists (BC assessment report 30590); in the report, the intensity of the alteration was noted and the discovery of an outcrop containing massive coarse andalusite was documented. The presence of andalusite on the property indicates that it has experienced higher temperature and more intense alteration than any other location along the 27 km belt.
Paul Reynolds, Triumph Gold's President and CEO, comments, "The Andalusite Peak property was staked based on the presence of an intense alteration blow-out similar to others within the district that are host to significant mineral occurrences. However, prior to our work, no mineralization had ever been discovered on the property. In one year this property went from a highly speculative exploration concept to an exploration reality with the identification of two new gold-copper occurrences. We are eager to follow up on these exciting new discoveries and to continue to explore the Andalusite Peak Property."
* Grab samples are selective in nature and the resulting assays may not be representative.
Methods and Qualified Person
Sample were delivered directly to the ALS Global prep-lab in Whitehorse, YT, and analyzed by ALS Global in North Vancouver, British Columbia. They were prepared for analysis according to ALS method PREP35: each sample was crushed to 70% passing 2mm and a 250g split was pulverized to better than 95% passing 106 micron mesh. Gold was tested by fire assay with atomic absorption finish on a 30g nominal sample (method Au-AA23). An additional 35 elements were tested by ICP-AES using an Aqua Regia digestion (method ME-ICP41), over limit samples for copper were retested using the same technique but with assay grade Aqua Regia digestion and a higher range of detection (method ME-OG46). Quality assurance and control (QAQC) is maintained at the lab through rigorous use of internal standards, blanks and duplicates.
The technical content of this news release has been reviewed and approved by Tony Barresi, Ph.D., P.Geo., VP Exploration for the company, and qualified person as defined by National Instrument 43-101.
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.
For further information: John Anderson, Chairman, Triumph Gold Corp., (604) 218-7400, [email protected]; Nancy Massicotte, IR Pro Communications Inc., (604)-507-3377, [email protected]