Precious Metals

Triumph Gold Corp. is pleased to announce results from 896.72 metres of diamond drilling in 3 holes from the Blue Sky Zone within the Revenue Deposit at the Freegold Mountain Project highlighted by 106.50 metres of 0.76 grams per ton gold equivalent 1 in RVD21-05. Highlights: During the 2021 exploration program, three drill holes were completed at the Blue Sky Zone totaling 896.72 metres . Drilling encountered ...

Triumph Gold Corp. (TSX-V: TIG | OTCMKTS: TIGCF | Frankfurt: 8N61) ("Triumph Gold" or "the Company") is pleased to announce results from 896.72 metres of diamond drilling in 3 holes from the Blue Sky Zone ("BSZ") within the Revenue Deposit at the Freegold Mountain Project (Figure 1), highlighted by 106.50 metres ("m") of 0.76 grams per ton ("gt") gold equivalent 1 ("AuEq") in RVD21-05.

Highlights:

During the 2021 exploration program, three drill holes were completed at the Blue Sky Zone totaling 896.72 metres (Figure 2, Tables 1 and 2).

  • Drilling encountered multiple styles of mineralization including porphyry-style stockwork veins, disseminated sulphides, sulphide breccias, and epithermal veins
  • Drilling added near-surface mineralization of the Blue Sky Zone within the open pit resource (Figure 2)
    • 106.50 metres of 0.76 g/t AuEq from 120.00 metres in RVD21-05
      • Containing 0.27 g/t gold ("Au"), 5.43 g/t silver ("Ag"), 0.22% copper ("Cu"), and 0.014% molybdenum ("Mo")
    • 26.82 metres of 0.67 g/t AuEq from 169.18 metres in RVD21-06
      • Containing 0.50 g/t Au, 1.54 g/t Ag, 0.07% Cu, and 0.004% Mo
    • 15.65 metres of 0.49 g/t AuEq from 205.35 metres in RVD21-06
      • Containing 0.22 g/t Au, 2.01 g/t Ag, 0.09% Cu, and 0.017% Mo
    • 71.00 metres of 0.51 g/t AuEq from 204 metres in RVD21-07
      • Containing 0.19 g/t Au, 1.39 g/t Ag, 0.06% Cu, and 0.036% Mo
  • RVD21-06 intersected porphyry-style mineralization with 27.00 metres of 0.44 g/t AuEq from 244.00 metres
    • Containing 0.17 g/t Au, 2.38 g/t Ag, 0.09% Cu, and 0.015% Mo

The Blue Sky Zone is defined by 12 drill holes: three holes from the 2021 program (Table 1) and nine historical holes (Table 3). The Blue Sky Zone is a NE-striking, near vertical body of Au-Cu-Ag-Mo mineralization that remains open at depth. The Revenue Deposit is made up of the Blue Sky Zone , WAu Zone, and zones of Cu-Mo-Au porphyry-style mineralization.

The Blue Sky Zone has been expanded 100 metres westwards and towards the surface with a modeled strike length of 210 metres. The zone has an average width of 70 metres and a depth of 480 metres below surface. The 2021 drilling program expanded both the Blue Sky Zone and the WAu Zone and reduced the gap between the two zones to 65 metres (Figure 2).

46% of the 6,615 metres of the 2021 diamond drilling program have been reported to date ( PR#21-11 ). Further updates will be provided when the results for the remainder of the 2021 exploration program are received and interpreted from the Nucleus Deposit, Big Creek South Fault Zone, the Orbit Zone, and regional exploration activities (Figure 1).

Table 1. 2021 Drilling Highlights

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1 Refer to the Reference and Disclosure section below for compositing techniques and AuEq calculations.

Table 2. 2021 Drill Hole Summary (Coordinates in UTM NAD83 Zone 8N)

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Table 3. Reinterpretation of Historical Blue Sky Zone Intercepts

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1 ,2 Refer to the Reference and Disclosure section below for compositing techniques and AuEq calculations.

"We are pleased to report these exceptional drill results that support the teams' geological interpretation of the Blue Sky Zone extending towards surface within the open-pit resource. We are excited that the WAu Zone and Blue Sky Zone continue to grow bulk-tonnage mineralization within the Revenue Deposit, " stated Brian May, President, Triumph Gold Corp.

Detailed Interpretation and Geology

RVD21-05 intercepted the Blue Sky Zone and returned 106.50 metres of 0.76 g/t AuEq from 120.00 metres. This intercept is located 60 metres southwest of RVD18-16, which had an intercept of 110.42 metres grading 1.86 g/t AuEq ( PR#18-08 ). The 2021 program expanded the Blue Sky Zone 100 metres westwards and towards the surface (Figure 2). The updated expression of the Blue Sky Zone is now modeled to be 65 metres from the WAu Zone , suggesting the two zones may be linked in a NE orientation (Table 1 and Figure 2).

Mineralization at the Blue Sky Zone is hosted within hydrothermally-altered granodiorite and contains two overlapping mineralization events:

  • The first and most abundant mineralization event is associated with strong potassic alteration with K-feldspar grading outwards into biotite, suggesting a high-temperature porphyry zone. Sulphide mineralization (chalcopyrite, molybdenite, pyrite and pyrrhotite) is characterized by clots, veinlets, and disseminations.
  • The second phase of mineralization is hosted by epithermal quartz-calcite veins with mineralization of chalcopyrite, molybdenite, galena, sphalerite +/- bismuthinite and visible gold, representing metal enrichment.

Porphyry-style mineralization was intercepted south of the modeled Blue Sky Zone (Figure 2, Tables 1 and 4). Porphyry-style mineralization consists of local sulphide +/- quartz stockwork veining with broad zones of disseminated sulphide mineralization surrounding vein clusters and local fine grained native gold (Figure 4).

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Figure 1. 2021 Drilling Areas on the Freegold Mountain Project.

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Figure 2. Plan View and Long Section of the Blue Sky Zone and the WAu Zone within the $1500/ounce ("oz") Au pit shell of the 2020 mineral resource estimate at the Revenue Deposit ( PR#20-02 ). Significant intercepts in the three drill holes of this release are listed in Table 1 and are depicted by purple ( Blue Sky Zone ) and cyan bars (porphyry-style vein +/- disseminated mineralization). Historical Blue Sky Zone intercepts are depicted by blue bars and are listed in Table 3. Wireframes were generated using Micromine's implicit modeling tool.

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Figure 3. Blue Sky Zone, coarse chalcopyrite (Cpy) and pyrite (Py) mineralization from RVD21-05 at 160.30 metres. This 1.5-metre sample interval from 160 metres returned 0.41 g/t Au, 10.10 g/t Ag, 0.40% Cu, and 0.028% Mo.

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Figure 4. Pyrite (Py), bismuthinite (Bis), and visible gold (VG) mineralization in porphyry-style veinlets hosted within strongly silicified granodiorite from RVD21-07 at 46.25 metres. This 0.5-metre sample from 46 metres returned 1.29 g/t Au, 0.60 g/t Ag, and 0.04% Cu.

Table 4. 2021 Significant Intercepts (Highlighted Intercepts are reported in Table 1)

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References and Disclosures

1 Gold equivalent [AuEq] is used for illustrative purposes, to express the combined value of gold, silver, copper, and molybdenum as a percentage of gold. No allowances have been made for recovery losses that would occur in a mining scenario. AuEq is calculated using US$1,750.00 per troy ounce of gold, US$24.00 per troy ounce of silver, US$4.00 per pound of copper and US$15.00 per pound of molybdenum:

AuEq = Au g/t + (Ag g/t X $24.00 / $1750.00) + (Cu% X $4.00 X 22.0462) / ($1750.00 / 31.10) + (Mo% X $15.00 X 22.0462) / ($1750.00 / 31.10)

Reported assay intervals are calculated using Micromine's grade compositing tool using >0.25 g/t AuEq cutoff, constrained by no more than 6 metres of consecutive internal dilution. High-grade intervals are reported using >1.0 g/t AuEq cutoff with no more than 5 metres of consecutive internal dilution.

Reported assays are uncut weighted averages and represent drilled core lengths. The true width of reported mineralization is unknown.

2 Reinterpretation of the Blue Sky Zone was completed by reviewing historical drill holes along the NE trend. Geological data (core logs, assays, and core photos) was inspected for structural and geochemical signatures that match characteristics of the Blue Sky Zone . AuEq values are reported using current metal prices for both historical and newly identified intercepts.

Sample Preparation and QAQC

Diamond drill holes at the Freegold Mountain Project are drilled using HTW and NTW core sizes (70.92 millimetres and 56.00 millimetres diameter respectively). Drill core samples average 1.63 metres in length with a minimum length of 0.50 metres and a maximum length of 2.00 metres except at the top of RVD21-07 where core loss resulted in a sample length of 4.66 metres. Drill core is cut along the long axis of the core over the entire length of the drill hole. Sample intervals are defined by mineralization, lithology, structure, and alteration boundaries.

Sample preparation is completed at ALS Whitehorse with sample pulps shipped to ALS Vancouver for analyses. Samples are dried and crushed to 70% less than 2 millimetres with a 250-gram riffle-split and pulverized to better than 85% passing 75 microns (PREP-31).

A 50-gram sample from the pulp is analyzed for gold using fire assay techniques and atomic absorption spectroscopy with detection limits of 0.005-10 parts per million ("ppm") (Au-AA24). Gold overlimit values are re-analyzed using a gravimetric finish with an upper detection limit of 10,000 ppm (Au-GRA22). A 0.25 gram sample from the pulp is analyzed with multi-element geochemistry (ME-ICP61) using a 4-acid near total digestion and induced coupled plasma atomic emission spectroscopy (ICP-AES) providing 33 elements (Ag, Al, As, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, Ga, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc, Sr, Th, Ti, Tl, U, V, W, Zn).

Sample Quality Assurance/Quality Control ("QAQC") measures include unmarked certified reference materials (CRMs), rock blanks, and field duplicates are inserted into the sample sequence and make up 5% of the samples submitted to the lab for holes reported in this release. Additional QAQC checks are ongoing in accordance with 43-101 standards.

National Instrument 43-101 Disclosure

The technical content of this news release has been reviewed and approved by Triumph Gold's President, Brian May, P.Geo., a "Qualified Person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has also verified the data disclosed, including sampling, analytical and test data, and the underlying technical information in this news release.

About Triumph Gold Corp.

Triumph Gold Corp. is a Canadian based, growth-oriented exploration and development company with a district scale land package in mining friendly Yukon. The Company's 100% owned, road accessible, flagship Freegold Mountain Project in the Dawson Range Au-Cu Belt is host to three NI 43-101 Mineral Deposits (Nucleus, Revenue, and Tinta Hill). The Project is 200 square kilometres and covers an extensive section of the Big Creek Fault Zone, a structure directly related to epithermal gold and silver mineralization as well as gold-rich porphyry copper mineralization.

Led by an experienced management and technical team, Triumph Gold is focused on actively advancing the Freegold Mountain Project using multidiscipline exploration and evaluation techniques.

The Company owns 100% of the Big Creek and Tad/Toro copper-gold properties situated along strike of the Freegold Mountain Project within the Dawson Range.

The Company also owns 100% of the Andalusite Peak copper-gold property, situated 36 km southeast of Dease Lake within the Stikine Range in British Columbia.

For more information, please visit triumphgoldcorp.com .

On behalf of the Board of Directors

Signed "John Anderson"

John Anderson, Executive Chairman

For further information about Triumph Gold 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.


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Triumph Gold

Triumph Gold

Overview

Triumph Gold Corp. (TSXV:TIG,OTC:TIGCF,FWB:8N61) is a precious metals exploration and development company focused on advancing its district-scale Freegold Mountain project in the Yukon. The property hosts three known deposits including multiple showings with successful drilling, trenching and sampling. The highlight of the property is the world-class exploration on one of Yukon’s richest porphyry and associated epithermal gold systems.

With gold prices on the rise, emphasis is being placed on discovering large high-grade gold deposits. While the company has not found a deposit to fit this description, it has delineated three gold resources on its property to date and is working towards enhancing the grade and size of the resources. The Blue Sky porphyry and WAu Breccia also host significant grades of copper that show the potential for further mining development.

The Freegold Mountain property has access to excellent infrastructure. The Yukon and Canadian federal government have invested C$360 million in the Resource Gateway project which is expected to be used to upgrade the infrastructure in the Nahanni and Dawson ranges, including the Mount Freegold Road which is situated alongside the property.

The Freegold Mountain project has over 86 years of property data, which has helped the company outline several discovery zones throughout the property. A 2017 drill program targeted the Revenue, Nucleus and Generation zones. Results from the Revenue zone returned one-meter grading 81.3 g/t gold. The program also led to the discovery of a high-grade, gold-rich porphyry mineralization zone that covers 450 meters and remains open in all directions.

The following year, Triumph Gold launched an exploration and drilling program to test the six-kilometer-long coincident geochemical and geophysical anomaly and followed up on areas of high-grade mineralization from the 2017 program. The company unearthed two new mineralized zones at the WAu breccia and the Blue Sky zone, one of the longest and highest grading gold-copper porphyries in the Yukon.

 

Triumph-Gold-Brecia-Gold Sample

Triumph Gold

In 2019 Triumph Gold began a ground-breaking drill program that tested the down-dip extension of the Blue Sky porphyry, WAu breccia and a 2.8-kilometer-long chargeability anomaly that underlies the six-kilometer-long soil anomaly that encompasses the Nucleus, Revenue and Blue Sky zones. Initial results from Triumph Gold’s 2019 drill program intersected 400 meters of 1.2 g/t gold equivalent and 102 meters of 1.3 g/t gold equivalent.

The 2020 exploration program was designed to advance underexplored, near-surface gold targets throughout the Project.

In addition to its Freegold Mountain project, Triumph Gold also owns two non-core assets in British Columbia and the Yukon. The Tad/Toro project shares similar geology to the Freegold Mountain project, which is 40 kilometers northwest of the property. The property hosts two areas of interest: the Main zone and the Nit occurrence. Both areas require further follow-up work before developing a resource estimate.

The Andalusite Peak project is located in northwestern British Columbia and is situated in the 27-kilometer-long Horn Mountain “blowout” lithocap belt. Triumph Gold has recently optioned the property to Rio Tinto (ASX:RIO), who can earn a 100 percent interest in the project over five years. The project covers an alteration zone in the center of the belt and hosts three targets: Julep, Gentleman and the Tennessee trend. The eastern side of the Julep and Gentleman mineralized trend has a strike length of 550 meters and remains unexplored to the south and downslope to the east and west. On the western edge of the property, the Tennessee trend extends at least one kilometer along the ridge. The trend widens to 300 meters and is open in all directions.

Attesting to Triumph Gold’s success and vision are key shareholders including Newmont Corp. (NYSE:NEM), which holds a 12.8 percent interest, and Zijin Mining Fund, China which holds 9.8 percent. Other institutions own approximately 42 percent.

Triumph Gold Company Highlights

  • The Freegold Mountain Project is a district-size play that is 35-kilometers-long with 200-square-kilometers of contiguous claims. This is five times the size of Manhattan.
  • The property hosts three NI 43-101 deposits that are all open for growth.
  • Positive results from metallurgical work with over 85 percent gold recovery.
  • The 2017 drill program defined target areas and included an intersection of 81.3 g/t gold over one meter, followed up last year with the discovery of the Yukon’s richest porphyry-related intersections.
  • This newly defined 450-meter strike length of high-grade gold-rich porphyry mineralization is open in all directions and at depth.
  • The property has excellent infrastructure with a government-maintained road going right through the entire property and roads to all deposits and targets.
  • The Freegold Mountain project is located in a good jurisdiction with straight forward permitting and support from government and local communities.
  • Data mining of $35 million database has allowed for low-cost exploration, which has resulted in recent successful discoveries.
  • The 2018 exploration program focused on identifying new porphyry and epithermal mineralization within a six-kilometer-long soil and geophysical anomaly.
  • The Blue Sky porphyry is one of the longest and highest grading gold-copper porphyries in the Yukon.
  • 2019 drill program intersected 400 meters of 1.2 g/t gold equivalent and 102 meters of 1.3 g/t gold equivalent.
  • 2020 exploration extended high-grade gold and silver mineralization within Irene-Goldstar epithermal corridor, including lateral extension of oxidized gold Skarn Zone by over 500 m to the northwest with intersection grades of 7.49 g/t Au and 3.7 g/t Ag over 1 m and vertical extension of high-grade Goldstar vein with assays of 1.59 g/t Au, 96 g/t Ag and 2.3% Cu over 1.56 m.
  • Irene-Goldstar is a highly prospective 3.7 km long epithermal corridor and a high priority target for the 2021 exploration season.
  • Strong investor base with Newmont Mining holding 12.8 percent of shares.
  • Highly-experienced management and technical team.

Freegold Mountain Project 

Triumph Gold’s Freegold Mountain project covers a highly prospective section of the Big Creek fault zone in Yukon’s Dawson Range. The district-scale project shares an address with several notable mineral properties including Capstone Mining’s (TSX:CS) Minto mine, Copper North Mining’s (TSXV:COL) Carmacks copper project, Rockhaven Resources’ (TSXV:RK) Klaza project and Western Copper and Gold’s (TSX:WRN) Casino deposit. Goldcorp’s $520 million acquisition of Kaminak Gold in 2016 is immediately northeast along trend of the Big Creek fault.

Freegold Mountain’s location offers some of the best infrastructure for a project in Yukon. Located 200 kilometers northwest of Whitehorse, the property is accessible by the main paved all-weather Klondike Highway and the government-maintained Freegold Road runs through the property. Commercial grid power is also available through the spur electrical line extending into the Minto mine.

“The infrastructure that we enjoy is some of the best in the territory; in fact, this property package was put together because of the area’s great infrastructure,” said Triumph Gold Chairman John Anderson. ”This allows for cost-effective exploration and development.”

In October 2018, Triumph Gold purchased back a two percent net smelter return (NSR) interest in the Golden Revenue property, which is contained within the company’s Freegold Mountain property. The 9.9-square-kilometer Golden Revenue property is centered over the Blue Sky-Revenue-Nucleus area. The purchase of the royalty reduces the NSR in most of the Blue Sky-Revenue-Nucleus area to zero percent.

The project hosts three significant mineral deposits and numerous gold showings which represent porphyry-epithermal systems. The deposits include the high-grade gold Nucleus deposit, the Revenue copper-gold-molybdenum–silver deposit and the Tinta Hill poly-metallic vein deposit.

Freegold Mountain NI 43-101 resources

The Freegold Mountain project hosts three NI 43-101 mineral resources for the Nucleus, Revenue and Tinta Hill deposits.

☞ Mineral Resource Estimates are current as of February 11, 2020 and were generated by Robert Sim (P.Geo) of SIM Geological Inc, an independent qualified person
☞ 1 0.30 g/t AuEq Open Pit cut-off
☞ 2 1.0 g/t AuEq underground cut-off
☞ 3 0.35 g/t AuEq open pit & 1.8 g/t AuEq underground cut-off

Data mining and low-cost exploration

Triumph Gold’s exploration strategy for the Freegold Mountain project was initially centered on evaluating a large database representing $35 million in exploration work conducted on the property since 2006. Through careful evaluation of the data and prospectivity mapping, the company identified four high-priority targets for their 2017 exploration program.

In June 2017, Triumph launched a 13,000-meter drill program on the property with the goal of testing the targets identified as part of the data review: the Revenue, Nucleus and Generation zones. The company was able to drill 35 holes, while also undergoing 600 meters of trenching in the Tinta Hill region and collecting 993 soil samples as part of the summer’s field program.

Through the program, Triumph Gold defined a 450-meter high-grade gold-rich porphyry mineralization across multiple drill holes, which included results such as 57 meters of 1.72 g/t gold equivalent at 1.08 g/t gold and 0.285 percent copper. The company also discovered the Happy Creek showing, which is on trend with the Revenue and Nucleus geophysical anomaly. Surface grab samples from the area returned results of 5.77 g/t gold.

To the south of the Revenue zone, the company intersected high-grade gold mineralization including seven meters grading 15 g/t gold. Copper-gold mineralization was also intersected multiple times to the east of the Revenue zone, including 58.65 meters of 1.48 g/t gold equivalent grading 0.971 g/t gold and 0.22 percent copper.

2018 exploration program

In March 2018, Triumph Gold launched an 18,000-meter drill program and a large exploration program at the Nucleus and Revenue deposits, as well as the Blue Sky, Happy Creek (Maximus II), Drone, Kiersten, Irene and Cabin zones. The 2018 exploration program was primarily focused on testing a six-kilometer-long geophysical anomaly that surrounds the Nucleus and Revenue deposits and followed up on areas of high-grade mineralization that were intercepted in 2017. At the end of the program, Triumph Gold completed 17,532.68 meters of drilling, 921 meters of excavator trenching, 209 meters of channel trenching, 30-line-kilometers of deep penetration IP and 48-line-kilometers of ground mag geophysics. The company also collected 865 infill soil samples and 55 rock samples.

The program was able to expand and define the WAu breccia which was first discovered in 2017. The company intersected the breccia in five holes which returned 72 meters of 1.33 g/t gold equivalent, 128 meters of 1.27 g/t gold equivalent and 43.02 meters of 1.50 g/t gold equivalent. The company also defined a 500-meter-long corridor containing high-grade porphyry and breccia mineralization that remains open along strike and to depth.

Triumph Gold intersected strong gold-rich porphyry mineralization in the first three drill holes at the Blue Sky porphyry zone. Assay results from the zone include 125.13 meters grading 1.24 g/t gold, 0.31 percent copper, 7.0 g/t silver and 0.01 percent molybdenum, 94.50 meters of 1.53 g/t gold, 5.8 g/t silver, 0.28 percent copper and 0.01 percent molybdenum and 149.26 meters of 0.3 g/t gold, 2.5 g/t silver, 0.15 percent copper and 0.02 percent molybdenum.

Twelve holes were completed between the Granger and Guder zones. Drilling at the Granger zone tested a shallow oxide gold target that rests between the Revenue diatreme and Nucleus gold deposit. Highlights from the zone include 18.39 meters grading 0.98 g/t gold, 18 meters grading 0.61 g/t gold and 55.21 meters grading 0.45 g/t gold.

At the Guder zone, Triumph Gold intersected 37.50 meters grading 0.26 g/t gold, 3.3 g/t silver and 0.17 percent copper and 26.38 meters grading 0.26 g/t gold and 0.11 percent copper. The company believes that the mineralization might be part of a larger mineralized zone that was intersected in several historical drill holes.

Mineralization was also intersected at the Revenue diatreme. Highlights from the Revenue zone include 44 meters of 1.08 g/t gold equivalent, 19.81 meters of 1.24 g/t gold equivalent and 11 meters of 2.04 g/t gold equivalent. Definition drilling at the Nucleus deposit intersected high-gold grades that exceeded the current inferred resources in 16 of the 21 holes drilled there. Highlights from the program include 0.84 meters grading 19.8 g/t gold, 45.19 meters grading 1.196 g/t gold and 59.50 meters grading 1.184 g/t gold.

The company also performed inaugural drilling at the Irene gold vein in 2018, which was drill tested over a 450-meter strike length. Highlights from the program include 6.13 meters grading 2.38 g/t gold, two meters grading 3.09 g/t gold and 2.82 meters grading 1.91 g/t gold.

Triumph Gold has also completed a sampling program at the Drone zone as well as surface sampling over the six-kilometer-long Revenue-Nucleus soil anomaly. The Drone zone returned bonanza-grade gold concentrations up to 450 g/t gold and high-grade copper values of up to 2.09 percent copper.

Within the Blue Sky zone, 13 grab samples had an average grade of 4.5 g/t gold but the values could range as high as 16.8 g/t gold. Samples taken from two new trenches at the Granger zone returned 18.5 meters grading 0.70 g/t gold and 3.5 meters grading 1.04 g/t gold.

The program also uncovered two new copper-gold showings: Drone and Maximus II. The Drone zone is a 100-meter by 25-meter area 500 meters east of the Nucleus deposit and 500 meters west of the Keirsten zone porphyry system. The zone remains open in all directions and has never been drilled or explored. The Maximus II showing was discovered one-kilometer northeast of the drilling at Blue Sky. The showing consists of multiple thick domains of dense veining and vein breccias over a 70-meter strike length. The showing remains open in all directions.

2019 exploration program

The 2019 drilling and exploration program targeted high-grade gold and copper mineralization first intersected in 2018. The company tested the down-dip extension of the Blue Sky and WAu breccia as well as a 2.8-kilometer-long chargeability anomaly underlying the six-kilometer-long soil anomaly that encompasses the Nucleus, Revenue and Blue Sky zones.

During the 2019 drilling program, Triumph Gold intersected 400 meters of 1.2 g/t gold equivalent and 102 meters of 1.3 g/t gold equivalent in the first of three areas tested for a deep porphyry. The 400-meter intersection revealed epithermal style mineralization at the WAu Breccia with 1.21 g/t gold equivalent containing 0.73 g/t gold and 0.23 percent copper, more than doubling the previously known depth of mineralization. Based on these positive results, the company has added another drill hole to the program to test for further high-grade porphyry mineralization beneath the WAu Breccia.

2020 exploration program

In July 2020 Triumph Gold announced its plans to continue to explore its Freegold Mountain Project in order to advance underexplored, near-surface gold targets on the property. The company’s intent was to focus on epithermal targets south of the Nucleus and Revenue Zones in addition to shallow gold targets related to the gold-rich porphyry copper mineralization surrounding the Revenue Resource area.

The 2020 exploration season results extended high-grade gold and silver mineralization within the Irene-Goldstar epithermal corridor, including lateral extension of oxidized gold Skarn Zone by over 500 m to the northwest and intersection grades of 7.49 g/t Au and 37 g/t Ag over 1 m and vertical extension of high-grade Goldstar vein with assays of 1.59 g/t Au, 96.04 g/t Ag and 2.28% Cu over 1.56 m.

The Irene-Goldstar is a highly prospective 3.7 km long epithermal corridor and a high priority for the 2021 exploration season.

Tad/Toro Project

The 6,474-hectare Tad/Toro project is located on Hayes Creek within the Dawson Range in central Yukon. The property is 100 kilometers northwest of Carmacks, which is 177 kilometers by road from the territory’s capital, Whitehorse. The project is situated within the 100-kilometer-long Big Creek portion of the Dawson Range copper-gold belt, which hosts several deposits and mineralized showings, such as the Casino copper-gold-molybdenum porphyry deposit, the Laforma low sulfidation epithermal vein deposit and the Antoniuk intrusion-related gold deposit.

Tad Toro Map

 

Big Creek Property

The Big Creek property, recently acquired from Teck Resources, consists of 258 contiguous quartz mining claims in the Whitehorse Mining District of Yukon (NTS sheets 115I/05 and 115I/12) and borders Triumph Gold’s 100% owned Tad/Toro property to the northwest, significantly expanding the Company’s interest in the Dawson Range Gold District (Figure 1). The adjoining properties are located along the prolific Big Creek Fault and the planned extension of the Mt. Freegold Road by the Yukon Resource Gateway Project. The existing 85-kilometre-long Mt. Freegold Road provides access to all portions of the Company’s flagship Freegold Mountain Project located approximately 15 kilometres southeast of the newly acquired Property.

Tad Toro Map

 

Historical exploration

The Main zone exhibits extreme oxidation within many unsampled oxidized and brecciated sections on the property, according to a historical drill core. Historical drill results from the Main zone include 7.15 meters grading 1.05 g/t gold and 19.5 g/t silver, 0.91 meters grading 1.37 g/t gold and 30.2 g/t silver and 0.3 meters grading 0.69 g/t gold and 116.6 g/t silver.

A 2007 sampling program resulted in the testing of an unsplit drill interval. Results from the interval include 7.9 meters grading 1.13 g/t gold and 8.7 g/t silver including 0.9 meters grading 5.07 g/t gold and 29.5 g/t silver. Based on these results, the remaining unsplit core from the 1969 to 1970 drill program requires sampling.

The Tad/Toro project also hosts the Nit occurrence, which is comprised of three large gold soil geochemical anomalies that have not been adequately trenched or drill tested. In 1986, a limited trenching program was completed at the Nit occurrence. Highlights from the program include 37.8 meters grading 0.46 g/t gold and 26.1 g/t silver and 30 meters grading 0.55 g/t gold and 106.6 g/t silver. Follow up work on the Nit occurrence is required to test the area further.

Andalusite Peak Project

The Andalusite Peak project is located in northwestern British Columbia. The property is 65 kilometers north of the Red Chris copper-gold mine, 20 kilometers west of Highway 37 and seven kilometers south of the Kutcho Creek mining road.

In August 2019, Triumph Gold and Rio Tinto entered an option agreement for the Andalusite Peak project. Under the agreement, Rio Tinto can earn a 100 percent interest in the project by paying Triumph Gold $3 million over five years. Triumph Gold would retain a one percent NSR, which is capped at $50 million.

In 2016, The British Columbia Geological Survey identified and mapped a 27-kilometer-long Horn Mountain “blowout” lithocap belt. The Andalusite project covers an alteration in the center of the belt. Two similar alteration blowouts are along the belt and host Kaizen Discovery’s Tanzilla property and Teck Resources’ (TSX:TECK.A) McBride property, where porphyry-style mineralization has been identified within and beneath the alteration lithocap.

In January 2019, Triumph Gold tripled the size of the property as the result of a prospecting and mapping program completed in July 2018.

Andaluside Peak Project Map

Exploration

In 2018, Triumph Gold discovered two new gold-silver-copper occurrences on the property: Julep and Gentleman. Grab sampling at the Julep zone returned values of 1.18 g/t gold, 11.2 g/t silver and 1.135 percent copper and 21.1 g/t silver and 2.72 percent copper. Grab sampling at the Gentleman vein returned values of 1.84 g/t gold, 17.3 g/t silver and 2.25 percent copper and 0.459 g/t gold, 2.4 g/t silver and 0.163 percent copper.

The eastern side of the Julep and Gentleman mineralized trend has a strike length of 550 meters and remains unexplored to the south and downslope to the east and west. On the western edge of the property, the Tennessee trend extends at least one kilometer along the ridge. The trend widens to 300 meters and is open in all directions.

Triumph Gold’s Management Team

 

John Anderson – Interim CEO, Chairman of the Board & Director
John Anderson has over 20 years of Capital market experience specializing in the resource sector. He was a founder and Financier of many start-up companies with experience on the TSX, NYSE, NASDAQ and London AIM and Swiss Stock Exchange. He was a founder of Deep 6 PLC, American Eagle Oil and Gas as well a founding general partner in Aquastone Capital LLC, a New York based gold fund. Anderson has raised more than $35 million for Triumph Gold (formerly Northern Freegold). Prior to this, he worked in Investor Relations at Bema Gold and corporate Development at Manulife Financial in commercial real estate development.

Jesse Halle, P. Geo – Vice President Exploration Jesse is a professional geologist with over 20 years of geoscience related exploration in senior and technical roles, and is a Managing Director at Halle Geological Services Ltd. Jesse obtained a B.Sc (Environmental Science) from the University of Toronto, a B.Sc (Honours Geology) from Lakehead University, and has since worked on numerous base and precious metal deposits In Canada and US. He has helped advance multiple porphyry copper-gold deposits in Yukon and BC, including Western Copper and Gold’s Casino deposit and Copper Mountain Mining’s Copper Mountain deposit.

Brian Bower – Lead Director
Mr. Bower has over 30 years’ experience as an exploration and mine geologist working primarily in British Columbia and Yukon. Brian obtained a B.Sc. (Geology) from the University of British Columbia and has extensive experience in supporting strong technical teams in advanced exploration projects in British Columbia & Yukon. He has been instrumental in developing projects like the New Afton Mine, the Kemess South deposit, the Blackwater deposit and the Mount Milligan deposit in British Columbia. He has also worked on the Casino deposit in Yukon during the mid-1990’s completing the deposit delineation drilling, building a new geology model and helping the geo-statistician & mining engineer to develop a new block model reserve estimate for the Casino deposit.

Rakesh Patel – Chief Financial Officer
Rakesh Patel is a partner in the Audit and Assurance Group at DMCL Chartered Professional Accountants. He provides audit and advisory services to Canadian and US private and public companies. He specializes in guiding private companies entering the public markets and assisting them with the registration process. He also has extensive knowledge of Canadian and US securities rules relating to the public markets, initial public offerings, prospectuses and mergers and acquisitions.

Marco Strub – Director
Marco is a principal of Sircon AG, a consulting and investment research company based in Zurich, Switzerland, and was formerly a partner of Exulta AG, a portfolio management company from 1997 to 2003. He is an Independent Director of Triumph Gold Corp., and Canada Zinc Metals Corp. (Formerly: Mantle Resources Inc.). He has also been a Director of Open Gold Corp (aka, Range Capital Corp) since 2009 and Mexigold Corp. (formerly, BCY Resources Inc.) since 2011. He served as a Director at Margaret Lake Diamonds, Inc. (JDV Capital Corp.) from 2011 to 2014, and as a Director of MVE Capital Corp. since 2007. He received a Master of Arts degree from the University of St. Gallen, Switzerland in 1982.

Gregory Sparks – Director
Mr. Sparks is a registered Professional Engineer and is currently the Managing Director–Metals of John T. Boyd Company Mining and Geological Consultants. He has over 40 years of diverse experience relating to surface and underground mines and plants. Greg has held numerous senior executive roles for both exploration and development projects. Previously he was the General Manager of Genex Construction LLC, a heavy civil construction firm. He was formerly Vice President, Development of Echo Bay Mines Ltd. Mr. Sparks has a B.Sc. in Mining Engineering from the Missouri School of Mines.

Emily Halle, PMP – Project Manager
Emily is a co-founder, geologist, and managing director at Halle Geological Services Ltd based in Halifax, Nova Scotia. She has over a decade of successful exploration and program management experience focused on porphyry copper and gold systems in British Columbia and Yukon, but has also been involved with mining and exploration projects in South Africa, Alaska, and Eastern Canada. Emily received a Bachelor of Commerce and Bachelor of Science in Geology from Saint Mary’s University, is a certified Project Management Professional with the Project Management Institute, and a Fellow for the Society of Economic Geologists.

Donna Moroney – Corporate Secretary
Donna is President of Wiklow Corporate Services Inc., a Vancouver company that provides corporate secretarial services and other services to public companies. She has over 30 years of extensive experience in regulatory and corporate compliance in both Canada and the United States, and as a senior officer for various public companies, and has instructed and provided training in regulatory compliance. As President and owner of Wiklow Corporate Services Inc. since 2008, she assists companies in the resource, financial and technology sectors in maintaining the securities and exchange demands on public companies, as well as keeping them up-to-date on relevant issues, policies and working practices.

Tony Barresi, Ph.D., P.Geo – Technical Advisor
Dr. Barresi is an economic geologist with greater than fifteen years of base and precious metal exploration experience. He has conducted successful exploration programs on grassroots and brownfields projects, and specializes in volcanogenic massive sulfide, porphyry and epithermal deposit exploration. He also has experience conducting exploration for rare-earth-element, Mississippi-valley type, iron-oxide-copper-gold, skarn, orogenic gold, and diamond deposits. Tony obtained his B.Sc. (honours) from Saint Mary’s University in 2004 and Ph.D. from Dalhousie University in 2015. His Ph.D. thesis focused on the interplay between island-arc evolution and metallogenesis as recorded by the Hazelton Group in northwestern British Columbia, within one of Canada’s premiere metal districts. Tony was awarded the prestigious Mary-Claire Ward Geoscience Award for his thesis by the Prospectors and Developers Association of Canada (PDAC) and the Geological Association of Canada (GAC).

 

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