Bonanza gold, porphyry clues at Freegold

Triumph Gold Corp. Dec. 11 said the results from the final three holes of its 2019 drill program at Freegold Mountain continue to provide compelling evidence for a large porphyry related gold-copper system underlying near surface gold-copper deposits already outlined on the roughly 200-square-kilometer (77 square miles) property in the Yukon.

The two most advanced deposits along a six-kilometer (3.7 miles) trend that spans the Freegold Mountain property are Nucleus and Revenue.

Nucleus hosts 74.74 million metric tons of indicated resource averaging 0.54 grams per metric ton (1.3 million ounces) gold and 0.06 percent (105.3 million pounds) copper; plus 63.79 million metric tons of inferred resource averaging 0.4 g/t (800,000 oz) gold and 0.05 percent (491,800 lb) copper.

Revenue, located about 3,000 meters east of Nucleus, hosts another 80.8 million metric tons of inferred resource averaging 0.39 g/t (1 million oz) gold and 0.14 percent (241.4 million lb) copper.

Geophysical data indicates this deep porphyry target lies at least 400 meters below the Revenue and Nucleus gold-copper deposits and spans a 6,000-meter-long prospective area at Freegold Mountain.

This year, Triumph drilled seven deep holes, for a total of 5,557 meters, to test three targets – WAu Breccia, Blue Sky and Big Red – along 1,700 meters of the Freegold Mountain trend. The company said this drilling has added further evidence of the buried porphyry.

"We are now even more convinced that a buried gold-rich porphyry system exists beneath the six-kilometer-long Revenue-Nucleus soil anomaly," said Triumph Gold President Tony Barresi.

The best intercepts in the final batch of drill results came in hole RVD19-06, which cut five mineralized intercepts at WAu Breccia just southeast of the Revenue deposit. Highlights include:

• 80.5 meters of 0.2 g/t gold, 1 g/t silver, 0.1 percent copper and 0.66 percent molybdenum from a depth of 60 meters;

• 21.8 meters of 0.23 g/t gold, 2.7 g/t silver, 0.16 percent copper and 0.02 percent molybdenum from 286.5 meters;

• 43 meters of 4.53 g/t gold, 4.3 g/t silver, 0.07 percent copper and 0.03 percent molybdenum from 391 meters;

• 88.3 meters of 0.4 g/t gold, 1.1 g/t silver, 0.04 percent copper and 0.02 percent molybdenum from 453 meters; and

• 36.2 meters of 0.24 g/t gold, 1.1 g/t silver, 0.1 percent copper and 0.01 percent molybdenum from 637.8 meters.

The high gold grades in the 43-meter intercept starting at 391 meters was due to a one-meter sub-interval that averaged 174 g/t gold, 43 g/t silver and 0.05 percent copper.

One hole drilled earlier this year at WAu Breccia, RVD19-02, cut 400.5 meters of epithermal style mineralization averaging 0.73 g/t gold, 6.9 g/t silver, 0.23 percent copper and 0.025 percent molybdenum starting a depth of 77.5 meters; and 102.5 meters of gold-rich porphyry related mineralization averaging 0.73 g/t gold, 1.5 g/t silver, 0.18 percent copper and 0.055 percent molybdenum from 560.5 meters.

Hole RVD19-04, drilled earlier this year at Blue Sky, which is about 1,000 meters northeast of WAu Breccia, cut 304.4 meters averaging 0.64 g/t gold, 5.9 g/t silver and 0.23 percent copper.

"Having completed seven of the deepest holes ever drilled on the property, we now have additional compelling evidence of a buried porphyry in each of the three areas tested, including long intersections of high-grade copper-gold mineralization, bonanza grade gold mineralization, an interpreted cupola (uppermost mineralized portion) of a causative intrusion beneath the WAu breccia, and clasts scavenged from another mineralized cupola 700 meters away in the Revenue Diatreme," said Barresi.

–SHANE LASLEY