Business
Trifecta Gold Implements Corporate Changes
VANCOUVER, BC / ACCESSWIRE / April 30, 2019 / Trifecta Gold Ltd. (TSX-V: TG) ('Trifecta' or ...
About this update from Trifecta Gold Ltd.
[{"type":"text","content":"Trifecta Gold Implements Corporate ChangesVANCOUVER, BC / ACCESSWIRE / April 30, 2019 / Trifecta Gold Ltd. (TSX-V: TG) ('Trifecta' or the 'Company') announces a series of corporate changes undertaken to preserve working capital as the Company seeks partners and evaluates transactions to benefit Trifecta shareholders. First, Dylan Arnold-Wallinger is stepping down as President and CEO of Trifecta effective April 30, 2019. Second, the Company has agreed to settle an amount of $75,000 by the issuance of 1,500,000 common shares of Trifecta at deemed price of five cents per share, pending TSX Exchange approval. Third, Trifecta has withdrawn from its option agreement with Pacific Ridge Exploration Ltd. (TSX-V: PEX) covering the Eureka Dome property (see Trifecta news release dated April 26, 2018). The debt settlement was negotiated as part of a severance package with Dylan Arnold-Wallinger. Richard Drechsler, a Director of Trifecta, will assume the role of Interim President and CEO of Trifecta. 'The Board wishes to thank Dylan for his efforts on behalf of Trifecta and wishes him success in his future endeavors,' states Rosie Moore, Director.Trifecta retains four highly prospective 100% owned gold projects in Yukon which include Eureka, Trident, Triple Crown and Treble, as well as an option to acquire a 75% interest in the past producing Yuge gold project located in northern Nevada. Trifecta's 100% owned road accessible Eureka Property lies directly on the proposed haulage road for Goldcorp's Coffee Deposit, between Klondike Gold Corp.'s Klondike project and White Gold Corp.'s Black Hills property. The property straddles the headwaters of Black Hills and Eureka creeks, two of the most productive placer creeks in the southern part of the Klondike Goldfields and has many geologic similarities to White Gold's nearby Vertigo discovery. The property hosts multiple drill ready targets and drill confirmed mineral showings within an 8 km long by 2.5 km wide gold-in-soil geochemical anomaly. The Yuge Property covers the historical Columbia and Juanita Mines, which produced high-grade gold on a small scale between 1870 and 1937 from strong veins located more than 1,000 m apart within the same structural corridor. Historical mining only extended down to the bottom of the oxidized zone. Diamond drilling by previous operators below the Columbia wor...