Triumph Gold President and Director Tony Barresi: We Are Positioning Ourselves as a Takeout Target
Triumph Gold President and Director Tony Barresi joined INN to discuss progress on the company’s properties in the Yukon’s Dawson Range.
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Triumph Gold (TSXV:TIG,OTCQB:TIGCF) President and Director Tony Barresi joined the Investing News Network at the 2020 Prospectors & Developers Association of Canada conference to discuss the progress his company has made exploring its properties in the Dawson Range, Yukon.
Barresi believes the action in the price of gold recently has created increased interest in the resource space, especially for those seeking a safe haven in an asset like gold.
“It was good timing for us to be able to release some new results. We have a flagship property in Yukon, the Freegold Mountain property. We’ve been having some incredible success over the last three years with drilling that property. While we’ve been doing the drill program, we’ve been advancing a bunch of other pipeline projects as well. The property itself is district in scale, it’s 200 square kilometers, 34 kilometers from end to end. We’ve had some great results and that’s what we released today.”
On March 3, 2020, Triumph Gold released results from rock sampling and trenching at one of their pipeline projects, the Irene-Goldstar epithermal gold-silver corridor, with samples grading up to 93.8 grams per metric ton (g/t) gold and 1,108 g/t silver. The mineralized corridor has a 3.7 kilometer long strike-length that has been defined with historical drilling over 450 meters at the top of Freegold Mountain and over a similar length 2 kilometers away in a gold-rich placer creek at the bottom of the mountain. “(In 2017,) we drilled over a 450 meter section (there) and got multi-gram gold over multiple meters in every hole,” Barresi said. Until 2019, a 2 kilometer long area between the drill-tested areas had not been sampled due to heavy vegetation and overburden. “(That year) we went along the top of the mountain to the edge of what had previously been explored and dug trenches over an additional 600 meters. Again, we ended up with multi-gram gold over multiple meters in those trenches,” Barresi said. “We ended up with a sample that was 96 grams gold and over 1,100 grams silver along with a whole bunch of other multi-gram gold samples.”
Moving forward, Triumph Gold intends to follow up on the success of the 2018 and 2019 exploration seasons on the Freegold Mountain property. “We’re looking at doing another season of very aggressive drilling, probably thousands of meters,” Barresi said. “We’re following up on the discoveries that we made in the Revenue-Nucleus area. Revenue and Nucleus are two pre-existing resources on our property. They amount to about 2 million gold equivalent ounces.” Over the past few years, the company has conducted extensive drilling within a 6 kilometer long area that surrounds the resources, discovering new high-grade, gold-rich porphyry copper-gold related mineralization.
“We drilled some of the longest and highest grade porphyry copper-gold intersections in the world over the last couple of years. In 2018, we made a 316 meter intersection of 1.1 gram gold and almost 0.3 percent copper and a super high-grade core 80 meters long of 2.5 g/t gold and 0.4 percent copper. We proposed that this was a porphyry copper-gold system that was a buried system. We were looking near-surface and that was an upper expression of it, but if we really wanted to get into the volume of material, we had to go a bit deeper.”
Moving forward, Barresi believes the company will need to expand on its previous exploration progress to continue to define the mineralization in the area. “What we need to do is show that we have a significant volume of this material already. To show volume, you need to have multiple intersections,” Barresi said. “Fortunately for us, we’ve already intersected this thing. That means that we know the physical characteristics of the rock. The physical characteristic of the rock is it’s extremely magnetic, in strong contrast to all the surrounding rock. That is one of the easiest things in the world to explore for.”
Based on the magnetic nature of the mineralization, Triumph Gold intends to use pre-existing magnetic data to build a 3D magnetic model in order to help define its next drill targets. “We’ve taken all of our magnetic data from hundreds of drill holes,” he said. “We’ve given it to a leader in computational geophysics and they’ve added it into a supercomputer that runs a 3D magnetic inversion, which gives us a 3D map of where there’s magnetic rock at depth. We’re going to use that in 2020 to do smarter and less expensive exploration to define these bodies.”
Porphyry expert Jesse Halle, who was recently added to the Triumph Gold team, is expected to lead further exploration moving forward. According to Barresi, Halle’s track record made him an easy choice as Triumph’s next VP of exploration. “Jesse is a crack geologist and an incredible project manager as well. He has a tremendous amount of experience working on porphyrys. He’s worked in Yukon on the Casino porphyry and he’s worked in British Columbia on Copper Mountain. He and his wife Emily Halle, who is also a part of our team, have together re-logged hundreds of kilometers of core from those projects and others.”
For a more comprehensive update from Triumph Gold President and Director Tony Barresi, watch the video below.
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