Mining News: Triumph returns to Freegold Mountain

Triumph Gold Corp. (formerly Northern Freegold Resources) June 7 announced the start of a 13,000-meter drill program at its Freegold Mountain gold-copper project in the Yukon. This drilling is testing a number of new targets identified last year. The 2016 program, which was focused on identifying geological controls on mineralization at the Revenue and Nucleus porphyry deposits, identified an early stage of porphyry-style mineralization that was not targeted during past exploration. The work defined three new exploration targets, one at each the Revenue and Nucleus deposits, and a newly identified porphyry target at the Generation zone. Drilling has begun at the newly identified copper-gold porphyry zone at Generation, located in an area of deep overburden about 800 meters north of the Revenue. The Generation Zone is exposed in Revenue Creek as a result of historical placer mining activity and consists of multiple generations of dense stockwork veining centered on a strong geophysical anomaly. Nine historical samples collected from Generation Zone averaged 706 parts per million copper and 38 parts per billion gold. Triumph said the identification of high density stockwork with multiple vein events, high temperature alteration, and associated copper and gold mineralization indicates that Generation represents a high-temperature core to a porphyry copper-gold system. The company plans to complete 2,000 meters of drilling to test this this theory. The company also plans to drill Revenue and the adjacent Blue Sky zone. Other areas to be drilled include the Nucleus Zone and a soil and geophysical anomaly that stretches 2,000 meters along strike between the Nucleus and Revenue deposit areas. The Nucleus deposit hosts 74.74 million metric tons of indicated resource averaging 0.54 grams per metric ton (1.3 million ounces) gold and 0.06 percent (105.3 million pounds) copper; plus 63.79 million metric tons of inferred resource averaging 0.4 g/t (800,000 oz) gold and 0.05 percent (491,800 lb) copper. The Revenue deposit hosts 80.8 million metric tons of inferred resource averaging 0.39 g/t (1 million oz) gold and 0.14 percent (241.4 million lb) copper.

–SHANE LASLEY