Triumph Gold Announces Results From Rock Sampling And Trenching Along The Irene-Goldstar Epithermal Gold-Silver Corridor, With Samples Grading Up To 93.8 g/t Au And 1108 g/t Ag

Triumph Gold Corp., (TSXV:TIG) (OTC:TIGCF) is pleased to announce results from the 2019 trench and grab sampling program conducted along the Irene-Goldstar Epithermal Gold-Silver Corridor.

Triumph Gold Corp., (TSXV:TIG) (OTC:TIGCF) (“Triumph Gold” or the “Company”) is pleased to announce results from the 2019 trench and grab sampling program conducted along the 3.7 kilometre long Irene-Goldstar Epithermal Gold-Silver Corridor on its 100% owned, 200 square kilometre, road accessible Freegold Mountain Project in the Yukon Territory.

Jesse Halle, Vice President of Exploration for Triumph Gold, comments, “The 2019 trenching program along a 600 metre portion of the Irene-Goldstar Epithermal Gold-Silver Corridor has revealed impressive grades and widths of precious metal mineralization, and suggests that substantial mineralization is present along the Irene-Goldstar trend. Significant opportunities for discovery of new mineralized zones exist along the untested portion of the corridor. A new access road constructed in 2019 will enable additional trenching and drill testing of this mineralized corridor during the 2020 exploration season.”

Highlights of the results include:

  1. Fifteen grab samples* from outcrop or subcrop in or near to eleven new trenches, including assays of:
    • 93.80 grams per tonne (g/t) gold (Au), 1108.0 g/t silver (Ag), 0.28% copper (Cu), 1.51% lead (Pb), and 0.41% zinc (Zn) from sample C00048158
    • 8.92 g/t Au, 542.0 g/t Ag, and 1.28% Pb from sample C00048156
    • 5.85 g/t Au, 129.0 g/t Ag, and 0.32% Pb from sample C00048153
  2. Chip-sampling** of bedrock from new trenches yielding anomalous to multi-gram gold and silver, including assays of:
    • 2.08 g/t Au, 33.5 g/t Ag, and 0.17% Pb over 4 metres in trench 19RFV-A, including 3.49 g/t Au, 55.0 g/t Ag, and 0.27% Pb over 2 metres
    • 3.85 g/t Au, 103.0 g/t Ag, and 0.09% Pb over 2 metres in trench 19RFV-D
    • 1.49 g/t Au, 216.0 g/t Ag, 0.12% Cu, 0.55% Pb and 0.10% Zn over 4 metres in trench 19RFV-K
  3. Sampling extended the Goldstar Vein by 600 metres along strike through the Vindicator Zone. Mineralization along the Irene-Goldstar Epithermal Gold-Silver Corridor remains untested where it may be present beneath vegetation between the Vindicator Zone and the Irene Zone, 2000 metres to the northwest.

Refer to Table 1 for a list of significant grab sample assays and length-weighted chip sample assays. Figure 2 depicts the locations of these assay highlights. Table 2 presents all 64 assay results from the Vindicator Zone (Figure 1).

Table 1: Highlights of 2019 chip and grab samples from within or close to trenches along the Irene-Goldstar Epithermal Gold-Silver Corridor

The Irene-Goldstar Epithermal Gold-Silver Corridor is a 3.7 kilometre long zone of epithermal-related gold-silver and base metal mineralization that extends from the historic Goldstar Vein and Skarn system near the Mount Freegold summit and continues through the Vindicator Zone to the Irene Zone in Guder Creek at the bottom of the mountain (Figure 1). The corridor is associated with a major splay of the regionally important Big Creek Fault. In 2018, eleven shallow drill holes targeted the Irene Zone and resulted in numerous intercepts of quartz veins with precious and base metals that graded up to 20.7 g/t Au over 0.70 metres (see PR#19-02 dated January 24, 2019). The 2018 drill program at Irene defined a mineralized strike length of 450 metres that is open to the northwest and to the southeast, where the Vindicator Zone is found 2000 metres away.

The Vindicator Zone has seen sporadic and poorly-documented exploration since the 1960’s. The Goldstar Vein has been extensively trenched and was tested with approximately twelve shallow drill holes. In 1989, C.A. Main estimated a mineral inventory at the Goldstar Vein with 123,000 tonnes of 4.21 g/t Au and 47.2 g/t Ag contained within a shallow pit approximately 250 metres long by 60 metres deep; this historical estimate should not be relied upon, as a Qualified Person has not done sufficient work to classify the estimate as a current mineral resource. Triumph Gold geologists believe the mineralization at the Goldstar Vein and the Vindicator Zone are parts of a much larger mineralized system termed the Irene-Goldstar Epithermal Gold-Silver Corridor.

Between 2005 and 2007, sixteen grab samples were collected from subcrop at the Vindicator Zone returning gold assays ranging from 0.015 g/t Au and 0.2 g/t Ag to 425 g/t Au and 321 g/t Ag. The location of the historic high-grade gold sample is shown in Figure 2. The locations of the 2005 and 2007 samples have not been verified by Triumph.

The 2019 sampling program at the Vindicator Zone aimed to confirm historic high-grade samples, characterize the contained polymetallic mineralization, and generate grade and thickness data. A total of 49 linear chip samples and seven grab samples were collected from trenches at the Vindicator Zone. An additional eight reconnaissance-style grab samples were collected throughout the Vindicator Zone (Tables 1, 2, Figure 3). Several areas adjacent to the highest grading samples were not sampled due to the depth limitations of hand-trenching.

Geology of the Vindicator Zone and Goldstar Zone

The Vindicator Zone is hosted in gossanous, schistose to gneissic metasedimentary rock of the Yukon Tanana Terrane. Mineralized domains up to 8 metres in width have been documented in eleven trenches spanning a 600 metre strike-length. Mineralization is associated with 1 to 15 centimetre thick epithermal quartz veins and adjacent domains of sericite-altered wall rock. Sulphides, including pyrite, chalcopyrite, galena and sphalerite, occur in quartz veins and disseminations in wall rock but are rarely preserved in hand sample due to surface weathering and oxidation.

Triumph Gold is planning a machine trenching and diamond drilling program for the Vindicator Zone in 2020, as well as a diamond drilling program designed to close the 2000 metre gap between the Vindicator and Irene Zones along the 3.7 kilometre long Irene-Goldstar Epithermal Gold-Silver Corridor.

Figure 1: Freegold Mountain Project, Irene-Goldstar Epithermal Au-Ag Corridor

Figure 2: Vindicator Zone, Trench and Grab Sample Highlights

Figure 3: Vindicator Zone, Trench and Grab Sample Locations

Sampling, Assaying and QAQC

Subhorizontal linear chip samples ranged between one and two metres in length. All chip samples were collected with a rock hammer. Chip and grab samples were analyzed by SGS Canada of Vancouver, British Columbia. Samples were prepared for analysis according to SGS method PRP89: each sample was crushed to 75% passing 2 millimetres and a 250 gram split was pulverized to P85 75 micron. Gold was tested by fire assay with atomic absorption finish on a 30 gram nominal sample (method GE FAA30V5), samples that tested over 10 grams per tonne gold were retested using a 50 gram sample with gravimetric finish (method GO FAG50V), and samples testing over 100 grams per tonne silver were retested using an adjusted sample weight and final solution volume ratio (method GO ICP42Q100). An additional 33 elements were tested by ICP-AES using a four-acid digestion (method GE ICP40Q12). Quality assurance and control (QAQC) is maintained at the lab through rigorous use of internal standards, blanks and duplicates. An additional QAQC program was administered by Triumph Gold: at minimum three quality control samples, consisting of blanks and certified reference standards, were blindly inserted into the trench sample batch. QAQC samples that return unacceptable values trigger investigations into the results and reanalysis of the samples that were tested in the batch with the failed QAQC sample.

Table 2: Assay results of all 2019 Vindicator and Goldstar chip and grab samples

Notes

* Grab samples are selective in nature, therefore reported mineralization and assay results may not be representative.
** Length refers to sample length. True widths have not been determined.
*** Coordinates are given in UTM coordinates, NAD83, Zone 8.

Qualified Person

The technical content of this news release has been reviewed and approved by Jesse Halle (P.Geo.), Vice President 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 “Tony Barresi”
Tony Barresi, President

For further information please contact:
John Anderson, Executive Chairman
Triumph Gold Corp.
(604) 218-7400
janderson@triumphgoldcorp.com

Nancy Massicotte
IR Pro Communications Inc.
(604)-507-3377
nancy@irprocommunications.com
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.

Click here to connect with Triumph Gold Corp. (TSXV:TIG, OTCMKTS:TIGCF) for an Investor Presentation.

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Catch up on some of the biggest news of the week for the cannabis investment world.

Three political parties have formed a coalition in Germany, leading to a new government, and it has promised cannabis reform in the European nation.

Meanwhile, a popular cannabis retailer confirmed consumers will now find its products available for delivery on the Uber Eats mobile application in Ontario.

Keep reading to find out more cannabis highlights from the past five days.


Coalition of parties promises forward-looking cannabis policy

Germany, a country with comprehensive and elaborate medicinal rules for cannabis, is in a time of transition as a new government is set to begin to take over after 16 years of Angela Merkel.

Olaf Scholz, the proposed next chancellor of Germany, leads a three party coalition that will become the country's governing body. As part of its promises, talk of adult-use cannabis regulation has now gained even more momentum. A report from MJBizDaily quotes a German policy document that shows the coalition's stance:

"We are introducing the controlled distribution of cannabis to adults for consumption purposes in licensed shops. This controls the quality, prevents the transfer of contaminated substances and guarantees the protection of minors."

However, despite the promise and excitement, it remains to be seen how these ideas will be applied since no formal regulations have been drafted or approved yet.

Canadian cannabis retailer partners with popular delivery app

Tokyo Smoke, a cannabis retail operator in Canada owned by Canopy Growth (NASDAQ:CGC,TSX:WEED), announced a collaboration agreement with Uber Canada (NYSE:UBER) whereby cannabis consumers will be able to use the Uber Eats app to order products before they visit stores.

While the app won't let consumers get cannabis delivered to them, this new method opens the doors to more dynamic ways of buying cannabis.

"As a market leader in innovation and a platform used by so many Canadians, we believe this is the ideal next offering that can be done safely and conveniently on the Uber Eats app," Mark Hillard, vice president of operations with Tokyo Smoke, said in a press release.

A report from the Canadian Press indicates Ontario is considering allowing dispensaries to have delivery and pickup options made available to consumers permanently. The province allowed some of these purchasing options at the outset of the COVID-19 pandemic, but then removed them.

Lola Kassim, general manager of Uber Eats Canada, said this new end-to-end experience will provide consumers with responsible access to legal cannabis products.

Cannabis company news

  • Organigram Holdings (NASDAQ:OGI,TSX:OGI) issued financial results for its Q4 2021 period. In its report, the company notes a net loss of C$26 million despite a 22 percent uptick in net revenue to C$24.9 million. Beena Goldenberg, the newly appointed CEO of the firm, is encouraged by the market share position earned by the company, which said it became the fourth biggest producer in Canada during the reporting period.
  • Halo Collective (NEO:HALO,OTCQB:HCANF) confirmed the decision for Akanda, its spinoff company focused on international cannabis opportunities, to begin trading on a US exchange. "The number of shares to be offered and the price range for the proposed offering have not yet been determined," the company told investors in a press release.
  • High Tide (NASDAQ:HITI,TSXV:HITI) announced the acquisition of 80 percent of NuLeaf Naturals, a CBD product wellness developer, for an estimated US$31.24 million. The deal includes a three year option clause for High Tide to complete a total acquisition. "As international markets open up and as export regulations evolve, NuLeaf's cGMP-certified facility positions us to take advantage of the global CBD business opportunity," Raj Grover, president and CEO of High Tide, said.
  • Humble & Fume (CSE:HMBL,OTC Pink:HUMBF) released the financial report for its first 2022 fiscal quarter to shareholders and the market. "As the legal cannabis market in North America continues to mature, Humble remains agile and focused on providing a leading solution for brands to scale quickly and retailers to focus on their customers," Joel Toguri, CEO of Humble, said.

Don't forget to follow us @INN_Cannabis for real-time updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Commercially viable scandium deposits are rare, making widespread use of the metal tricky. However, there is indeed opportunity in the space.

Scandium is a critical metal that is as strong as titanium, as light as aluminum and as hard as ceramic.

While it is more abundant than lead, mercury and all the precious metals, there are no pure scandium-producing mines. The rare earth element is often a by-product, produced from refining other metals, including uranium.

Pure scandium metal rarely concentrates at higher grades alongside other metals, making commercially usable scandium deposits very rare. What's more, even when scandium is found at elevated levels, processing it can be difficult, leading to very few stable sources of this critical metal.


Not surprisingly, that means there has been very little adoption of scandium in commercial applications. However, as John Kaiser of Kaiser Research has pointed out several times in the past few years, as well as more recently, that doesn't mean there hasn't been research into how scandium could be used in the future.

"Hundreds of applications (have been) filed, many of them related to alloys with aluminum," he said in an interview with the Investing News Network. "This obscure metal is going to go ballistic in the next few years."

Kaiser made that statement a few years back, and scandium has yet to go ballistic. But he still has hope for the metal, and it could yet have its day in the sun.

Below is an overview of the scandium market. Topics covered include current production, newcomers to the space and the metal's potentially bright future.

Current scandium production

The first known large-scale scandium production was associated with Russian military programs. Details are lost to history, but Russians reportedly alloyed the metal with aluminum to make lightweight MIG fighter parts. Mining at these historic Russian production sites has ceased, but stockpiles of scandium oxide and scandium master alloy remain in Russia. These stockpiles are rumored to be dwindling, but continue to be offered for sale on the market.

Today, most scandium is produced as a by-product during the processing of other ores, such as uranium or rare earths, or recovered from previously processed tailings. As a result, scandium supply can be affected by the supply and demand dynamics of the metals it is produced with. That can make the metal's already tough-to-follow market dynamics even more difficult to understand.

According to the US Geological Survey, scandium-producing countries include China, where it is a by-product of iron ore, rare earths, titanium and zirconium; and the Philippines, where it is a by-product of nickel. Scandium is also produced as a by-product of uranium in Russia, Ukraine and Kazakhstan.

More US production could be on the horizon as well after a push in legislation that encourages the Department of Defense to look into the potential uses of the metal. Environmental and construction permits have been approved for NioCorp's (TSX:NB,OTCQX:NIOBF) polymetallic Elk Creek project with probable reserves estimated to be 36 million tonnes containing 65.7 parts per million scandium.

Scandium resources have been identified in minerals-rich regions across the world, most notably in Australia, where a number of junior mining companies are working to develop scandium deposits in New South Wales. These include Scandium International Mining (TSX:SCY), which controls the Nyngan project; Clean TeQ Holdings (ASX:CLQ,OTCQX:CTEQF), which holds the Sunrise project; and Platina Resources (ASX:PGM,OTC Pink:PTNUF), which is working on the Owendale project.

Scandium price and trading

The US Geological Survey states that the global scandium market is "small relative to most other metals." This is exemplified by global production and consumption, which is only an estimated 15 to 20 metric tons annually.

The US Department of Commerce and the International Trade Commission do not have specific data on trading for the metal. Furthermore, there is no formal buy/sell market today — scandium is not traded on an exchange and there are no terminal or futures markets.

Instead, the metal is traded between private parties, mostly at undisclosed prices and in undisclosed amounts. Therefore, understanding the precise volume of production and cost of scandium is difficult, and independent estimations are more relevant.

Production estimates are based on levels of trader activity and interest, as well as the knowledge that some traders deal in the critical metal from very small operations.

The estimates also include consumers believed to be sourcing their own scandium through small, controlled recovery operations, but don't consider amounts of the metal contained in the master alloy currently being sold from Russian stockpiles.

The scandium opportunity

Analysts expect the global scandium market to grow at a compound annual growth rate of above 11 percent between 2020 and 2025. "The major factors driving the growth of the market studied are the accelerating usage in solid oxide fuel cells, and the rising demand for aluminum-scandium alloys," notes ReportLinker.

Despite the lack of known, stable supply, scientists and engineers have been working hard to develop new products incorporating the metal. Scandium's potential in high-tech applications is well documented. Highlights of the metal's properties include:

  • It can be used in the creation of stronger, corrosion-resistant, heat-tolerant and weldable aluminum alloys for lightweight aircraft and automobiles.
  • Its outstanding electrical properties and heat resistance are valuable for solid oxide fuel cells.
  • It has unique optical properties for high-intensity lamps.

A recent Kaiser Research report on scandium details the wide variety of end uses for scandium now and into the future, as well as where potential supply to meet that demand may originate.

potential scandium oxide supply and demand

Potential scandium oxide supply and demand.

Kaiser Research

As Kaiser has explained, "There's an enormous latent demand for scandium if it ever became available on a primary, scalable basis."

In other words, the only barrier to accessing demand from a new family of high-performance aluminum materials and energy/lighting products is the lack of commercially viable larger-scale scandium production. Interestingly, Kaiser's work highlights two important scandium market events that may "have the potential to launch scandium demand growth over the next decade towards a 1,000 (tonne per annum) market worth US$2 billion."

For one, Rio Tinto (NYSE:RIO,ASX:RIO,LSE:RIO) announced in 2020 that it has developed a route to recovery for scandium at its Sorel-Tracy facility in Quebec, where it produces titanium slag from the Lac Tio iron-titanium deposit. In mid-2021, Rio Tinto began commercial-scale operations at its new scandium oxide production facility.

"The Rio Tinto development is a game changer for the scandium sector," said Kaiser, who believes the increase in scandium production could help boost the sector.

Secondly, Scandium International Mining filed an application in late 2019 for a patent protecting a method for recovering scandium and other metals from the waste streams of copper oxide leaching operations. In mid-2020, the company announced that copper raffinate tests showed its patent-pending process could recover enough scandium to match the supply being added to the market by Rio Tinto.

"Conditions are finally right for scandium to become the ideal lightweighting solution for aluminum," Kaiser said in his note to investors.

This is an updated version of an article originally published by the Investing News Network in 2014.

Don't forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

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