Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: TIGCF) is pleased to release updated mineral resource estimates for the three deposits (Nucleus, Revenue and Tinta) on the company’s 100 per cent owned, 200-square-kilometre, 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 35 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. 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.