Triumph Gold Corp Confirms Major Discovery – 125.13 meters of 1.93 g/t AuEq Gold-Rich Porphyry
Triumph Gold (TSX-V:TIG, FRA:8N61, OTCMKTS:NFRGF) has intersected strong gold-rich porphyry mineralization in the Blue Sky Porphyry. . .
125.13 meters of 1.24 g/t gold, 0.31% copper, 7.0 g/t silver and 0.01% molybdenum or 1.93 g/t AuEq
That intercept from RVD18-17 is contained within 202.10 meters of 0.87 g/t gold, 5.8 g/t silver, 0.25% copper and 0.01% molybdenum.
That makes for one huge hole and confirms the Blue Sky Discovery, which was first announced during the 2017-drilling season.
The market has moved considerably in the past couple weeks on speculation around drilling results, surpassing the previous 52-week high on Monday, and moving through all long term resistance points by Wednesday.
Other highlights from the first three drill holes include:
RVD18-16 – 94.50 meters of 1.53 g/t gold, 5.8 g/t silver, 0.28% copper and 0.01% molybdenum
RVD18-05 – 149.26 meters of 0.30 g/t gold, 2.5 g/t silver, 0.15% copper and 0.02% molybdenum
The Blue Sky Zone was first identified in 2016, when Triumph focused its exploration efforts on six-kilometre-long, multi-element soil and geophysical anomaly that encompasses both the Revenue and Nucleus deposit areas.
Within the anomaly, the Blue Sky Zone covers an area extending 2.3 kilometers east of Revenue to the eastern margin of the anomaly.
It was drill tested in 2017 with significant intersections:
RVD17-13 – 57 meters of 1.08 g/t gold, 6.6 g/t silver, 0.285% copper and 0.01% molybdenum from
RVD17-01 – 94.38 meters of 0.34 g/t gold, 3.9 g/t silver, 0.17% Cu and 0.02% molybdenum
While impressive, the results were still not enough to move the needle of a weak resource market.
That was then. With stronger intercepts in hand, Triumph is well on its way to establish the Blue Sky as one of the most robust porphyry targets in the world.
Porphyry deposits are generally low grade – compensated by their enormous sizes – in some cases hundreds of millions of tonnes of ore.
In Canada, half of all its copper production and all its molybdenum comes from porphyry deposits, such as the Valley Copper Mine averaging 0.28% copper; Gibraltar Mine averaging 0.26%, and Copper Mountain at 0.34%.
This is why Triumph’s grades are so prolific – high-grade, gold-rich porphyrys are mining’s unicorns. And Triumph has not even drilled into the bornite – which typically yield the highest grade. The best is yet to come.
Thus, the recent results from Blue Sky is just the tip of the iceberg.
Triumph has allocated a lot of its funds in the exploration of the gold-rich Blue Sky porphyry system.
In fact, the company is still waiting on assays from seven holes which were drilled to test the extent and geometry of the porphyry. What does that mean for the market? A whole lot of speculation could yet build…
As the assays keep proving up the aptly named Blue Sky – more this stock price will rocket.
70% of the stock is held in just five hands – including Goldcorp, Palisade, Zijin, and Gold 2000/3000.
That is a recipe for upward movement and a discovery like this is ripe for a takeover.
The question is: will it be $2, $3, or higher?
Palisade Global Investments Limited holds shares of Triumph Gold Corp. We receive either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate. The information contained in such write-ups is not intended as individual investment advice and is not designed to meet your personal financial situation. Information contained in this report’s from sources we believe to be reliable, but its accuracy cannot be guaranteed. The opinions expressed in this report are those of Palisade Global Investments and are subject to change without notice. The information in this report may become outdated and there is no obligation to update any such information. Do your own due diligence.