Business
Triumph Gold Purchases Royalty Interest in Golden Revenue Claims
VANCOUVER, British Columbia, Oct. 25, 2018 (GLOBE NEWSWIRE) -- Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: TIGCF) (“Triumph Gold” or the “Company”) is pleased to
About this update from Triumph Gold Corp.
[{"type":"text","content":"VANCOUVER, British Columbia, Oct. 25, 2018 (GLOBE NEWSWIRE) -- Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: TIGCF) (“Triumph Gold” or the “Company”) is pleased to announce the purchase of a 2% Net Smelter Return (the “NSR”) interest in the Golden Revenue property, which is wholly contained within the Company’s 100% owned, road accessible Freegold Mountain Property, YT. With this purchase, a critical 9.9 sq. km portion of the Freegold Mountain property, centered over the Blue Sky-Revenue-Nucleus area, is now unencumbered by any royalties (Figure 1). The NSR relates to 69 claims forming the original Golden Revenue property and was purchased from the original property owner for $100,000. The claims are centered over the Revenue Au-Ag-Cu-Mo deposit and extend approximately three kilometres west, covering one half of the Nucleus Au-Ag-Cu deposit, and one kilometre east, covering the recently delineated WAu Breccia and a portion of the newly discovered high-grade, gold-rich Blue Sky porphyry; they also include the recently discovered Drone Zone (PR18-11, October 16, 2018). Highlights from drilling within the original Golden Revenue property include: RVD18-17 with 125.13 metres of 1.24 g/t Au, 7.0 g/t Ag, 0.31% Cu and 0.01% Mo (310.47 – 435.60m) contained within 202.10 metres of 0.87 g/t Au, 5.8 g/t Ag, 0.26% Cu and 0.01% Mo (287.00 – 489.10m) in the Blue Sky Zone. RVD18-03 with 72 metres of 0.54 g/t Au, 13.7 g/t Ag, 0.30% Cu and 0.01% Mo (60.00 – 132.00m) contained within 180 metres of 0.31 g/t Au, 5.7 g/t Ag, 0.16% Cu and 0.02% Mo (52.00 – 232.00m), in the WAu Breccia. RVD17-14 with 7 metres of 15.0 g/t Au (129 – 136m), in the Guder Zone. GRD08-099 with 9.36 metres of 70.19 g/t Au (109.64 – 119.00m) including 1.27 metres of 410.00 g/t Au (113.28 – 114.55m) at Nucleus. The purchase of this royalty reduces the NSR in most of the Nucleus - Revenue – Blue Sky area to zero percent. The remainder of the Freegold Mountain property has underlying NSR’s ranging from one to three percent, all of which may be bought down to one percent at any time. Executive Chairman’s Comment John Anderson, Triumph Gold’s Executive Chairman, comments, “With the recent drilling success at Revenue East and the Blue Sky zone, we thought it imperative to purchase this royalty interest. This should have a significant positive impact on any future economic studi...