EXPLORATION & DEVELOPMENT

Triumph declares porphyry discovery at Freegold Mountain

Yukon explorer Triumph Gold (TSXV: TIG) has claimed a porphyry discovery at its flagship Freegold Mountain property.

Staff reporter
 The core yard at Triumph Gold’s Freegold Mountain project in Canada’s Yukon

The core yard at Triumph Gold’s Freegold Mountain project in Canada’s Yukon

It reported a 400.48m intersection grading 1.21g/t gold-equivalent from 77.52m at the WAu Breccia, more than doubling the previously known depth of mineralisation.

It also hit 102.5m at 1.26g/t Au-eq from 560.5m in the second of seven holes to be drilled, testing for a buried porphyry at Freegold Mountain.

"At the WAu Breccia, the first of three areas being drill tested in 2019 for buried porphyry mineralisation, we have discovered a porphyry copper-gold system," exploration vice president Dr Tony Barresi said.

"The discovery intersection is long, high-grade, gold-rich and closer to surface than we had expected."

Triumph last month optioned its Andalusite Peak property in British Columbia to Rio Tinto Exploration Canada in a five-year deal worth C$3 million (US$2.3 million), freeing up the junior to focus on Freegold Mountain.

Triumph closed a $5.1 million (US$3.86 million) raising in July at 49c per flow-through unit and 35c per unit, for exploration at Freegold Mountain and general working capital.

Newmont Goldcorp held 18% of the company at July 31.

Triumph's shares had traded as high as 63c last October but fell to 30.5c in May.

They last traded at 47c to capitalise it at $45.6 million (US$34.5 million).

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.