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Trifecta Gold Commences Drilling At Trident Property; Closes Second Tranche of Private Placement
VANCOUVER, British Columbia, Aug. 24, 2017 (GLOBE NEWSWIRE) -- Trifecta Gold Ltd. (TSX-V:TG) (“Trifecta” or the “Company”) announces that diamond drilling is un
About this update from Trifecta Gold Ltd.
[{"type":"text","content":"VANCOUVER, British Columbia, Aug. 24, 2017 (GLOBE NEWSWIRE) -- Trifecta Gold Ltd. (TSX-V:TG) (“Trifecta” or the “Company”) announces that diamond drilling is underway at its road-accessible Trident property located in the White Gold District of the Dawson Range Gold Belt in western Yukon. The 2017 diamond drilling campaign is focused on expanding near-surface gold and silver mineralization at the Exploits Zone, down dip and along strike. Limited drilling in 2013 produced very promising results including 1.55 g/t gold and 114 g/t silver over 21 m, starting 12 m below surface. Where observed in trenches and drill holes, the mineralized zone is oxidized and shallowly dipping. “We are very excited to have work underway at Trident,” stated Dylan Wallinger, Trifecta’s President and Chief Executive Officer. “We are drilling relatively aggressive step-out holes in order to quickly and efficiently test the size and extent of mineralization at the Exploits Zone.” The Company has completed a soil sampling program at its road-accessible Eureka property which is located between Klondike Gold Corp.’s Klondike project and White Gold Corp.’s Black Hills property. A crew is currently performing soil sampling, hand trenching and prospecting at the Triple Crown property and will complete similar work at the Treble property later this month. Results will be released once they have been received and compiled by the Company. Trifecta also announces that it has closed the second tranche of the private placement announced on July 6, 2017 and amended on July 18, 2017. The second tranche closing consisted of the issuance of: 253,000 flow-through units at $0.25 per flow-through unit, for total consideration of $63,250; and 50,000 non-flow-through units at $0.20 per unit, for total consideration of $10,000. Each flow-through unit consisted of one flow-through common share and one-half (1/2) of a non-flow-through share purchase warrant. Each non-flow-through unit consisted of one non-flow-through common share and one-half (1/2) of a non-flow-through share purchase warrant. Each full warrant from either the flow-through units or the non-flow-through units entitles the holder to purchase one non-flow-through common share at a price of $0.30 until August 23, 2018, provided that in the event the closing price of Trifecta’s co...