Triumph Gold Provides Update on Exploration Activities Related to the Freegold Mountain Copper-Gold Project, Yukon - Seite 2

Project Geology

The Freegold Mountain Project is situated within a northwest trending belt of Paleozoic-aged metasedimentary and lesser metavolcanic rocks intruded by Jurassic-aged plutons. A long-lived regional fault system runs through the length of the Project and is associated with numerous mid- and late-Cretaceous intrusions, the latter being directly associated with gold-rich porphyry copper style mineralization and associated epithermal vein and skarn mineralization.

The Project boasts at least three deposit types, strongly controlled by stratigraphy and structure:

1. Gold-rich copper porphyry mineralization located along structures within mid-Cretaceous granodiorite, monzodiorite, and quartz monzonite intrusions
2. Low-sulphidation gold-silver epithermal and polymetallic vein mineralization often identified proximal to late Cretaceous quartz-feldspar porphyry dikes
3. Copper-gold skarn mineralization proximal to intrusions and along structures within metasedimentary units
   

Project History

The Freegold Mountain Project covers a large area within the Dawson Range where copper-gold prospects have been intermittently explored since the 1930’s when Fred “Fritz” Guder identified magnetite float carrying visible gold on the ridge north of Seymour Creek, and George McDade discovered and trenched polymetallic veins at Tinta Hill.

In the 1950’s, further prospecting uncovered a massive chalcopyrite vein in bedrock at Revenue Creek. Subsequent copper and gold showings have been located throughout the northwest-trending belt of rocks hosting this discovery. The Revenue Creek discovery led to the Revenue gold-copper-molybdenum deposit and subsequent discovery of the adjacent Nucleus gold-silver deposit.

Numerous other copper-gold prospects are encompassed throughout the district-scale project including but not limited to porphyry targets at Stoddart, Cabin, Nitro, and Castle; epithermal targets in the Irene-Goldstar Corridor as well as Ridge, Goldy, and Dart; and the various skarn targets of Mount Freegold.

Resource Estimates

The Freegold Mountain Project is host to three NI 43-101-compliant mineral resource estimates: The Nucleus, Revenue, and Tinta Hill Deposits. The three deposits host open-pit constrained mineral resources, with two of the deposits (Revenue and Tinta Hill) including deeper, high-grade mineral resources considered amenable to underground extraction methods.