The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
First calculation in 5 years, company focused on discovery North of 60 Mining News – February 14, 2020
Triumph's Freegold property is located on Freegold Road, which is being upgraded and extended to Western Copper and Gold's Casino copper-gold project about 80 kilometers (50 miles) to the northwest.
Triumph Gold Corp. Feb. 11 announced the first updated mineral resource estimates for the Freegold Mountain gold-copper-silver project in the Yukon since the end of 2014.
Over the years, Triumph has identified numerous near-surface porphyry gold-copper targets and deposits over a six-kilometer (3.7 miles) stretch of Freegold Mountain. The two most advanced deposits along this trend are Nucleus and Revenue.
Nearly 15 kilometers (nine miles) southwest of Revenue lies Tinta, a third deposit on the roughly 200-square-kilometer (77 square miles) road-accessible property.
According to the new calculation, Nucleus and Revenue host 42.4 million metric tons of indicated resource averaging 0.58 grams per metric ton (791,000 ounces) gold, 0.08 percent (74 million pounds) copper and 1.2 g/t (1.6 million oz) silver.
In addition, the Nucleus Revenue and Tinta deposits host 39 million metric tons of inferred resource averaging 0.56 g/t (707,000 oz) gold, 0.1 percent (90 million lb) copper and 4.5 g/t (5.6 million oz) silver.
Nucleus continues to be the largest of the three deposits.
Nucleus now hosts 31 million metric tons of indicated open-pit resource averaging 0.65 g/t (651,000 oz) gold, 0.07 percent (44 million lb) copper and 0.7 g/t (698,000 oz) silver; plus 9.4 million metric tons of inferred open-pit resource averaging 0.56 g/t (189,000 oz) gold, 0.04 percent (9 million lb) copper and 0.72 g/t (217,000 oz) silver.
Revenue, which is about 3,000 meters southwest of Nucleus, hosts 11.4 million metric tons of indicated open-pit resource averaging 0.38 g/t (140,000 oz) gold, 0.12 percent (30 million lb) copper and 2.4 g/t (895,000 oz) silver; plus 25 million metric tons of inferred open-pit resource averaging 0.46 g/t (367,000 oz) gold, 0.11 percent (61 million lb) copper and 2.2 g/t (1.8 million oz) silver.
Revenue also hosts 2.5 million metric tons of inferred underground resource averaging 0.99 g/t (79,000 oz) gold, 0.22 percent (12 million lb) copper and 5.2 g/t (417,000 oz) silver.
Revenue also hosts appreciable quantities of molybdenum and tungsten.
Tinta hosts 908,000 metric tons of inferred open-pit resource averaging 1.09 g/t (32,000 oz) gold, 0.18 percent (4 million lb) copper and 42.5 g/t (1.2 million oz) silver; plus 1.31 million metric tons of inferred underground resource averaging 1.43 g/t (92,000 oz) gold, 0.17 percent (5 million lb) copper and 46.3 g/t (2 million oz) silver.
Tinta also hosts appreciable quantities of zinc and lead.
"We are pleased to present three pit-constrained resources, two of which also have high-grade underground resources," said Triumph Gold President Tony Barresi. "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," Barresi continued. "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 percent owned Freegold Mountain property."
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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