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Trifecta Gold Ltd. Signs Letter of Intent to Option Yuge Property in Nevada
VANCOUVER, British Columbia, Feb. 28, 2018 (GLOBE NEWSWIRE) -- Trifecta Gold Ltd. (TSX-V:TG) (“Trifecta”) is pleased to announce that it has signed a letter of
About this update from Trifecta Gold Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 28, 2018 (GLOBE NEWSWIRE) -- Trifecta Gold Ltd. (TSX-V:TG) (“Trifecta”) is pleased to announce that it has signed a letter of intent to option the Yuge Property, a high grade gold prospect in northern Nevada, from Silver Range Resources Ltd. (“Silver Range”). The Yuge Property was discovered by Silver Range through data mining a newly acquired proprietary database of exploration data collected by major and junior mining companies operating in Nevada and Utah from the 1970s through to the early 2000s. “We are very excited to take advantage of this opportunity,” stated Dylan Wallinger, Trifecta’s President and Chief Executive Officer. “We believe that the Yuge has tremendous potential and we look forward to providing shareholders with consistent news flow as we advance a project in a southern jurisdiction that complements our northern prospects.” The Yuge Property is located in Humboldt County, approximately 55 kilometres south of Denio in the Varyville Mining District. The property covers the Columbia and Juanita Mines which produced on a small scale between 1870 and 1937. The most recent reported production was 2,350 tons of oxide ore in 1936-37 from the Columbia Mine. Gold on the Yuge Property occurs with arsenopyrite in mesothermal quartz veins and adjacent wall rock. These occur in sub-parallel shear zones up to 60 m wide and over 1,200 m long. Selected surface grab samples collected on the property by the Nevada Bureau of Mines and Geology returned assays up to 15 g/t Au and similar samples collected by Homestake Mining Company assayed up to 53.0 g/t Au. The highest gold grades were reported from near-surface oxidized vein material where documented run-of-mine sorted ore assayed greater than 34 g/t Au and reported sampling of a crown pillar returned 2.4 m @ 16.8 g/t Au including 0.6 m @ 50.7 g/t Au. Sulphide mineralization occurs at depths greater than 30 m with arsenopyrite-rich material reportedly assaying greater than 17.4 g/t Au. A reported true-width drill intersection in this material at 49 m depth returned 3.3 m @ 9.70 g/t Au. Historical drilling intersected gold mineralization or open stopes in all holes reported but only to a maximum depth of 100 metres. Trifecta believes there is considerable potential to discover similar...