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Triumph Gold Announces Completion of Exploration Drilling at the Freegold Mountain Project, Yukon

Triumph Gold Corp. (TSX-V: TIG | OTCMKTS: TIGCF) (“Triumph Gold” or “the Company”) is pleased…

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This article was originally published by Resource World

Triumph Gold Corp. (TSX-V: TIG | OTCMKTS: TIGCF) (“Triumph Gold” or “the Company”) is pleased to announce the completion of a 19 hole, 6,615 metre diamond drilling program (“the Program”) focused on the Nucleus and Revenue areas of the Freegold Mountain Project (“the Project”) located in Yukon, Canada (Figure 1). All of the drill core has been cut, sampled, and submitted to ALS Global for analysis. Final assay results are expected to return in regular batches throughout September and October.

Initial highlights of the Program include:

  • Confirmation of two styles of overlapping mineralization forming the Nucleus gold-silver-copper deposit with flat-lying skarn mineralization cut by epithermal mineralization associated with steeply-dipping fault zones within schists and gneiss of Yukon Tanana Terrane (“YTT”) and felsic intrusive rocks (Photos 1 and 2).
  • Intersection of sulphide-replacement and epithermal mineralization proximal to the regional South Big Creek Fault within YTT and felsic intrusive rocks in step-out drilling south of the Nucleus gold-silver-copper Deposit (Photo 3). New mineralization was also intersected southeast of the Nucleus resource area (Photo 4).
  • Expansion of porphyry-related and epithermal mineralization at the WAu and Blue Sky Zones hosted in the Revenue gold-silver-copper-molybdenum-tungsten Deposit (Photo 5). Drilling also expanded a zone of porphyry-style mineralization proximal to the southern contact of the WAu Zone. (Photo 6).

Additional exploration activities have advanced mineral prospects on the Freegold Mountain Project outside of the Nucleus and Revenue Deposit areas. This portion of the 2021 exploration season is ongoing and includes geological mapping and prospecting, 37 line-kilometres of soil geochemical surveying, 100 line-kilometres of ground magnetic surveying, and 6 line-kilometres of HLEM surveying, all of which are expected to be completed by mid-September.

Triumph Gold has used improved deposit and geophysical modeling along with AI vectoring to identify and target underexplored areas of the Freegold Mountain Project. We are very excited to receive assay results to confirm drillcore observations from all areas, including newly identified mineralization intersected south and east of Nucleus.” says Jesse Halle, VP Exploration for Triumph Gold. Halle adds “Work on our pipeline prospects is ongoing and preliminary results from these efforts are very encouraging.”

Qualified Person

The technical content of this news release has been reviewed and approved by Jesse Halle, P.Geo., Vice President of Exploration for the Company and qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

COVID-19 Response

Triumph Gold is committed to the health and safety of its employees and contractors. With recommendations from the Yukon Government and Yukon Chamber of Mines, the Company developed and implemented infection prevention and control measures at the Freegold Mountain Project to help reduce and minimize the risk of potential COVID-19 transmission in the camp and related work sites. Employees, contractors, and visitors are regularly tested and monitored for symptoms and are required to adhere to federal and territorial regulations, as well as Company prevention policies outlined in the Triumph Gold Corp COVID-19 Operational and Emergency Response Plans.

About Triumph Gold Corp.

Triumph Gold Corp. is a Canadian based, growth-oriented exploration and development company with a district scale land package in mining friendly Yukon. The Company’s 100% owned, road accessible, flagship Freegold Mountain Project is located in the Dawson Range Cu-Au Belt and is host to three NI 43-101 Mineral Deposits (Nucleus, Revenue, and Tinta Hill). The Project is 200 square kilometres and covers an extensive section of the Big Creek Fault zone, a structure directly related to epithermal gold and silver mineralization as well as gold-rich porphyry copper mineralization. Led by an experienced management and technical team, Triumph Gold is focused on actively advancing the Freegold Mountain Project using multidiscipline exploration and evaluation techniques.

The Company also owns 100% of the Big Creek and Tad/Toro copper-gold properties, situated along strike of the Freegold Mountain Project, within the Dawson Range. For more information, please visit triumphgoldcorp.com.

On behalf of the Board of Directors

Signed “John Anderson”

John Anderson, Executive Chairman

For further information about Triumph Gold Please contact:

John Anderson, Executive Chairman
Triumph Gold Corp.
(604) 218-7400
janderson@triumphgoldcorp.com

Nancy Massicotte
IR Pro Communications Inc.
(604) 507-3377
nancy@irprocommunications.com

Mars Investor Relations
(647) 557-6651
tig@marsinvestorrelations.com

Figure 1 – Freegold Mountain Project location Map and area of 2021 drilling program

 

Photo 1. N21-01 at 19m – Oxidized limonite after pyrite skarn replacement mineralization within YTT (Nucleus Deposit)

 

Photo 2. N21-02 at 114.20m – Epithermal-style quartz-pyrite-arsenopyrite veinlet within argillic altered YTT (Nucleus Deposit)

 

Photo 3. N21-05 at 174.14m – Semi-massive sulphide (marcasite +/- pyrite dominant) replacement within iron carbonate altered YTT (Big Creek South Fault area).
Photo 4. O21-01 at 159.8m – Epithermal style chalcopyrite-molybdenite-bornite veinlet cutting Microgranite and YTT (Orbit Zone).

 

Photo 5. RVD21-03 at 411.50m – Epithermal style scheelite and chalcopyrite WAu breccia mineralization within argillic altered Revenue granodiorite.

 

Photo 6. RVD21-03 at 372.50m – Disseminated chalcopyrite within an intrusive contact breccia in the hanging wall of the WAu Zone.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.  The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Bryah nabs strategic exploration ground around namesake project

Special Report: Bryah Resources has expanded its footprint in WA, securing three exploration licences covering 50 km2 around its existing … Read More
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Bryah Resources has expanded its footprint in WA, securing three exploration licences covering 50 km2 around its existing land holding in the Bryah and Padbury Basins.

The Bryah Basin hosts the high-grade copper-gold mines at DeGrussa, discovered by Sandfire Resources (ASX:SFR) in 2009, and at Horseshoe Lights, which was mined until 1994.

It also hosts several historical and current manganese mines including the company’s Horseshoe South mine.

Bryah Resources’ (ASX:BYH) is confident that the new tenements – E52/3848, E52/3898 and E52/3963 – cover prospective and under-explored areas which have gold, copper-gold and manganese exploration potential.

The tenements were acquired for 4 million ordinary shares at an issue price of $0.055/share.

Tenure right next to historic gold mine

The largest tenement (E52/3898) covers exploration ground adjacent to the historic Wilthorpe shallow open cut gold mine.

The mine straddles the boundary of new tenement E52/3898 and an adjacent E52/2059, held by Westgold Resources (ASX:WGX).

It was mined by Dominion Mining from 1993-94, producing 4,650 ounces of gold from 72,817 tonnes of ore grading 2.0 g/t gold.

And there has been limited gold exploration since.

Based on the reported mineral occurrences, Bryah considers the tenement package highly prospective for copper, gold, and manganese.

Pic: Tenement location plan

Exploration planning underway

The company will shortly commence a thorough desktop review of all historical exploration reports as well as its own extensive database.

The data review will support a detailed phase of exploration planning, ahead of ground exploration activities.

In the meantime, reverse circulation drilling is underway at Bryah’s manganese JV, in a 2000m program fully funded by partner OM Holdings.

 


 

 

This article was developed in collaboration with Bryah Resources, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

 

The post Bryah nabs strategic exploration ground around namesake project appeared first on Stockhead.

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Mining battery metals from the sea floor – could it soon be a low-impact reality?

Low-impact sea mining could become a reality for one ambitious company with the arrival of a 228m ship in Rotterdam … Read More
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Low-impact sea floor mining could finally become a reality for one ambitious company with the arrival of a 228-metre ship in Rotterdam earlier this week, heralding a critical milestone in its plans to become a producer of battery metals sourced from the deep ocean.

Named the Hidden Gem, the vessel is the key to The Metal Company’s (NASDAQ:TMC) vision of developing the world’s largest source of battery metals from the ocean floor with commercial production plans targeted for 2024.

TMC’s strategic partner, Allseas, will be converting a former deep-sea drilling vessel into a subsea mining vessel, retrofitting the ship with equipment to gather polymetallic nodules on the seafloor within contract areas held by TMC in the Pacific Ocean’s Clarion Clipperton Zone (CCZ).

The Hidden Gem. Pic: Business Wire

These potato-sized polymetallic nodules contain high grades of critical minerals such as nickel, manganese, copper and cobalt, which are integral to the manufacturing of electric vehicle batteries and other renewable energy technologies.
 

Enough to power 250 million EVs

Back in April 2020, TMC acquired its third seabed contract area to explore for polymetallic nodules from Tonga Offshore Mining Limited (TOML), which opened it up to a further 74,713km square block of exploration rights.

The third contract area comprises an inferred resource of 756 wet tonnes of polymetallic nodules, meaning its expanded footprint now contains enough nickel, copper, cobalt and manganese to build more than 250 million electric vehicle batteries.

Speaking to the TOML acquisition, TMC’s chairman and CEO Gerard Barron said the project will enable The Metal Company to bring more critical minerals to market to break through the bottleneck and shift away from fossil fuels.

“Our research shows that ocean polymetallic nodules can provide society with these metals at a fraction of the environmental and social impacts associated with land-based extraction.”

Pic: Supplied

 

Environmental concerns about sea floor mining

The environmental concerns which surround mining of the ocean’s floors are well documented, with several jurisdictions and regulatory bodies imposing bans and strict regulations on subsea mining due to the lack of understanding around the environmental impacts and growing fears about the irreversible effects these practices may have on the fragile ecosystems that we know very little about.

Many scientists believe that far more resources have been spent researching ways to mine the ocean floor rather than studying the impact this type of mining might have on the underwater environment.

TMC, however, believes that the Hidden Gem subsea vessel, which will deploy a 4.5km riser to collect the nodules off the seafloor without drilling, blasting or digging, can avoid much of the environmental disturbance associated with traditional sea floor mining methods.
 

Past failures

Planning to mine the oceanic crust’s wealth of mineral resources is a well-trodden path that’s seen many companies fail to deliver on their promises of production due to regulatory and financial hurdles.

Companies such as Nautilius and its high-grade Solwara 1 copper-gold project off the PNG coast is one recent example.

Nautilius had plans to turn its Solwara 1 project into the world’s first underwater copper-gold mining operation but wound up delisting from the TSX and going bankrupt in 2019.

The Canadian company had developed three undersea robots to mine hydrothermal vents on the ocean floor before funding issues became a problem midway through construction.
 

On the road to meeting deep-sea battery metals goal

There are examples of successful mining ventures in the ocean such as in Indonesia’s tin industry, diamond extraction in Namibia, and gold mining off Alaska’s coast, however these ventures are often heavily scrutinised by environmental lobby groups and constantly face the risk of being shut down due to increasing global environmental awareness and a trend towards greener policies from the governments who licence them.

While there is still plenty of obstacles and work to be done, TMC, with the help of Allseas and their new vessel, which is expected to be the first ship classified as a sub-sea mining vessel under American Bureau of Shipping, are much closer than many of their peers to realising the goal of supplying the market with battery metals from the seafloor.

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Pilbara Minerals’ Ken Brinsden on that record-breaking lithium auction and why high pricing is ‘expected to persist’

Pilbara Minerals sold an 8,000t spodumene cargo on the spot market for a record $US2,240/t. Where do prices go from here? … Read More
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Last week, the share price of Aussie hard rock lithium miner Pilbara Minerals (ASX:PLS) hit an all-time high off the back of its second Battery Material Exchange (BMX) auction.

The miner sold an 8,000t spodumene cargo on the spot market for an extraordinary $US2,240/t, essentially doubling the $US1,250/tonne received via the inaugural auction held late July.

This is a record price for spodumene concentrate — far above the peak at the last price cycle in 2017/18, where the highest spodumene price reached $US1,000/tonne.

The first PLS auction price (green cross below) was so far outside the trendline it caused the average price to spike in July.

BMX #2 will have an even bigger impact.

While the super high price can be partially attributed to the relatively unique and competitive form of sale (open auction), it also verified what has long been suspected – there is not enough lithium being produced to meet current demand.

Good news for miners.

Pilbara Minerals managing director Ken Brinsden says significant participation in the first round of the BMX auction, combined with lithium chemicals pricing continuing to accelerate, meant the company was always confident of strong response in the second auction.

“We were optimistic it would be a healthy price and well bid. That was certainly the case,” Brinsden told Stockhead.

“As to the final price – look, we were probably a little surprised as to where it landed.”

While a date has yet to be set, Brinsden expects at least one more BMX auction before the end of the year.

“We would say the lot size would not be much different – 8,000 to 10,000t, up to a maximum of 15,000t,” he says.

“What it boils down to is the restart of the Ngungaju operation because that’s where the volumes for the spot market will come from.”

The restart of the ‘Ngungaju’ facility at Pilgangoora — or the former Altura operation – is a very important part of the business.

At full capacity that plant should be about 200,000t of uncontracted spodumene concentrate by about the middle of next year.

“It will be about 30% of our underlying production from Pilgangoora,” he says.

“Those tonnes are well positioned to feed the emerging spot market.”

 

A maturing lithium market

Brinsden says the Pilbara Minerals would consider having other lithium companies use the BMX platform “because we advocate for greater transparency in pricing”.

The contract market — where most tonnes are sold — has traditionally been very opaque, with prices determined behind closed doors.

This, amongst other things, makes it harder for aspiring miners to get finance.

“Greater volumes in the spot market makes sense because it represents a step toward the maturity of lithium markets,” Brinsden says.

“Greater transparency is going to translate to greater, more definitive pricing outcomes, the potential for futures markets, hedging instruments – all the financial tools being built around the industry that support the flow of capital.

“That is very natural, and it happens in the growth of just about every commodities market.

“Lithium raw materials won’t be any different.”

 

The lithium price boom ‘expected to persist’

This high pricing is fundamental, Brinsden says.

“It’s all about the next round of incentive pricing to attract capital to lithium raw materials supply,” he says.

“That is what is going to be required to grow the pool of producers to support this pretty significant global demand.”

Solving the lithium shortage isn’t as easy as turning on production.

“In the hard rock space – at least as it relates to merchant spodumene supply – the next available [production] uplift besides us is probably late next year at the earliest, I would say,” Brinsden says.

Australia’s next miner is shaping up to be Core Lithium’s (ASX:CXO) ‘Finniss’ project in the NT, which is targeting first production in the second half of 2022.


 

That is why tightness in the market is expected to continue.

And while one cannot say that the market price for spodumene is now ~$US2,000/t — when the majority of spodumene supply is currently being shipped for between $700/tonne and $1,100/tonne – it does demonstrate that more is needed, Benchmark Mineral Intelligence analyst George Miller says.

“Spodumene prices such as this indicate that converter margins are being passed upstream to where the tightness is in that market — spodumene supply,” he says.

“Feedstock inventory with many spodumene converters is either non-existent or quickly dwindling.

“Meanwhile, very little additional tonnage [will] come online in the near-term as a result of underinvestment and low prices within the lithium industry over the past three years.”

 

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