December 08, 2022

Coffee, gold and copper – the Triumph triple play

New exploration at Freegold Mountain looks to add discoveries to existing resource

Digital is the new normal and the 10th annual Beaver Creek Precious Metals Summit is on next week – virtually, of course. It is a huge conference with more than 200 companies from around the world, more than half of them being gold explorers or producers.

It will be a busy three days for investors looking at the space, and it will be difficult to get investor attention with so many presenting companies. However, one of the presenters has been deservedly attracting market attention this year after successfully raising equity capital in July 2020.

Triumph Gold Corp. (TSXV: TIG | OTC: TIGCF) is a Yukon (Canada) focused exploration company. Their primary exploration assets are located in the Dawson Range gold-copper belt, host to the Casino Copper deposit, the Coffee gold deposit and the Klaza gold prospect among others, in a road-accessible, mining friendly jurisdiction.

Location, location, location.

Source: Triumph Gold Corp.

Why should you care? The company’s core asset is the 100%-owned Freegold Mountain Project. This is a 200 square kilometer block along the mineralized trend of the Big Creek Fault, only about 200 km by paved, year-round highway from Whitehorse YT. This road connects with the (partially completed) Resource Gateway Road and Mount Freegold Road, which runs through Triumph’s block. And finally, Whitehorse is only about 170 km from deepwater ports in Alaska, so access and egress to this prolific resource area is not an issue.

The company has three NI 43-101 compliant resource estimates on this block. Driven by the regional and local fault systems, the porphyry and epithermal sourced gold (plus associated minerals) potential would make any geologist drool with excitement. Discoveries at Nucleus, Revenue and Tinta have Indicated and Inferred Resources in both open pit and underground mining evaluations with the Resources being pit constrained. The NI 43-1010 evaluations are dated as of February 11, 2020 and complete results are best reviewed on the company’s website, but they are very impressive.

At the end of July, the company announced plans for the 2020 exploration program on the Freegold Mountain Project. This will be a continuation of the exploration which began in 2016 that has yielded tremendous results. The program was expected to commence the first week of August, with the appropriate coronavirus risk mitigation programs in place.

Source: Triumph Gold Corp.

New exploration will include epithermal gold targets of the Mount Freegold block to the southeast of the Nucleus and Revenue deposits, as well as shallow gold targets related to the gold-rich porphyry copper mineralization surrounding Revenue. Triumph has a new drillhole-constrained 3D magnetic inversion geophysical model for the area that will partially guide the program around Revenue.

Highlights of the 2020 program include:

  • Testing the Irene-Goldstar Epithermal Au-Ag Corridor with well-spaced step-out drillholes from the successful 2018 drill campaign at the Irene Zone, through the Vindicator Zone, culminating at the Goldstar Au-Ag Vein on top of Freegold Mountain
  • Trenching and inaugural drill testing of the highly prospective Melissa Epithermal Zone: a massive multi-element soil anomaly with similarities to the Nucleus Au-Ag-Cu Resource
  • Drill testing a shallow, underexplored, geophysical and geochemical porphyry copper-gold target south of the phyllic-altered Keirsten Zone, as well as a geophysical target identified by the recent drillhole-constrained 3D magnetic inversion model
  • Trenching and drill testing coincident geochemical and geophysical anomalies situated along structural trends immediately east of the high-grade gold and copper porphyry-related Blue Sky and WAu Breccias of the Au-Ag-Cu-Mo-W Revenue Resource

The company is well-funded for this exploration program and has a strong shareholder base with approximately 18% of the company owned by Newmont Mining Corporation and a 46.5% institutional shareholder base. The company closed two successful non-brokered private placement equity financings in July 2020 for a total of $6.3 million.

With these successful private placements, the company is very well-funded for an important exploration program on Freehold Mountain. With three evaluated resource discoveries and significant potential in a highly prospective and prolific mineralized area, this is definitely a company that has market attention and is important to watch.

See also: Drolet Stock Note: Triumph Gold Corp. – Developing another Yanacocha mineral type deposit in North America

Disclaimer: The author of this post may or may not be a shareholder of any of the companies mentioned in this column. None of the companies discussed in the above feature have paid for this content. The writer of this article/post/column/opinion is not an investment advisor, and is neither licensed to nor is making any buy or sell recommendations. For more information about this or any other company, please review their public documents to conduct your own due diligence. To access the disclaimer and other important legal notices, click here.

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