April 30, 2018 - Trifecta Gold Ltd. (TSX-V: TG) (“Trifecta”) is pleased to announce that it has begun exploration work on the Yuge Property with partner Silver Range Resources Ltd. (TSX-V: SNG) (“Silver Range”).
“Personnel are on the ground now to begin detailed geological mapping, sampling and prospecting in anticipation of a geophysical program and diamond drilling later this year,” stated Dylan Wallinger, Trifecta’s President and Chief Executive Officer. “We are excited to follow up on excellent historical results that appear to have been overlooked since the early 1980s.”
The Yuge Property is located in Humboldt County, approximately 55 km south of Denio in the Varyville Mining District. The property covers the Columbia and Juanita Mines which produced on a small scale between 1870 and 1937. The most recent reported production was 2,350 tons of oxide ore in 1936-37 from the Columbia Mine.
Gold on the Yuge Property occurs with arsenopyrite in mesothermal quartz veins and adjacent wall rock. These occur in sub-parallel shear zones up to 60 m wide and over 1,200 m long. Selected surface grab samples collected on the property by the Nevada Bureau of Mines and Geology returned assays up to 15 g/t Au and similar samples collected by Homestake Mining Company assayed up to 53.0 g/t Au. The highest gold grades were reported from near-surface oxidized vein material where documented run-of-mine sorted ore assayed greater than 34 g/t Au and reported sampling of a crown pillar returned 2.4 m @ 16.8 g/t Au including 0.6 m @ 50.7 g/t Au. Sulphide mineralization occurs at depths greater than 30 m with arsenopyrite-rich material reportedly assaying greater than 17.4 g/t Au. A reported true-width drill intersection in this material at 49 m depth returned 3.3 m @ 9.70 g/t Au. Historical drilling intersected gold mineralization or open stopes in all holes reported but only to a maximum depth of 100 m. Trifecta believes there is considerable potential to discover similar mineralization at depth given the mesothermal character of the veins and shears and the considerable depth extent of gold mineralization in deposits of this class.
Additional information on the Yuge Property may be found on Trifecta’s website at www.trifectagold.com.
Historical data cited in this press release is based on reports by Homestake Mining Company, Westamerica Enterprises and Extension Energy Inc. This data has not been independently verified by Trifecta but has been checked for internal consistency and against Nevada Bureau of Mines and U.S. Bureau of Mines public domain data. Technical information in this news release has been approved by Heather Burrell, P.Geo., a geologist with Archer, Cathro & Associates (1981) Limited and a Qualified Person for the purposes of National Instrument 43-101.
About Trifecta Gold Ltd.
Trifecta is a Canadian precious metal exploration company dedicated to increasing shareholder value through the acquisition and development of attractive exploration projects in Canada and other mining-friendly jurisdictions.
ON BEHALF OF THE BOARD
President and Chief Executive Officer
For further information concerning Trifecta or its various exploration projects please visit our newly updated website at www.trifectagold.com or contact:
Trifecta Gold Ltd.
President and CEO
Tel: (604) 687-2522
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.