December 15, 2020 - Trifecta Gold Ltd. (TSX-V: TG) (“Trifecta” or the “Company”) is pleased to announce that the first phase of exploration and drill pad construction at the Yuge Gold Project (“Yuge” or the “Property”) is complete and RC drilling is scheduled to commence in January 2021.
The Property is located in Humboldt County, approximately 55 kilometres south of Denio in the Varyville Mining District. Yuge is road accessible and covers the Columbia and Juanita Mines, which produced on a small scale between 1870 and 1937, as well as the Josie Zone, where Trifecta has confirmed the presence of multiple gold bearing structures through surface sampling. Gold on the property occurs with sulphides (arsenopyrite and pyrite) or their weathered products (scorodite and iron oxides) in mesothermal quartz veins and adjacent wall rock. 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 historical drill hole, completed by Homestake Mining Company and directed underneath the Columbia workings, cut sulphide mineralization at 49 m depth that returned 3.3 m @ 9.70 g/t Au.
Phase one work at Yuge included drill pad construction at the Columbia and Juanita Mines and the Josie Zone, as well as upgrades to the Josie Zone access road, which resulted in the discovery of several strongly oxidized shears along the new road cut. Photos are available at www.trifectagold.com/projects/yuge. Prospecting and hand trenching exposed new mineralization at the Josie Zone 60 m along strike of a vein exposure that returned 45.2 g/t gold over 0.35 m in 2018. Reconnaissance work also identified significant oxide mineralization 480 m northwest of, and along strike of, the Columbia Mine. Assay results from these new discoveries are expected in early 2021.
The upcoming drill program is designed to confirm the presence of high grade shear hosted gold mineralization below and between the Columbia and Juanita Mines, as well as bulk mineable oxide gold mineralization at the Josie Zone.
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 Jackson Morton, 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 advancement of attractive exploration projects in Canada and other mining-friendly jurisdictions.
ON BEHALF OF THE BOARD
“Richard Drechsler”
President and CEO
For further information concerning Trifecta or its various exploration projects please visit www.trifectagold.com or contact:
Corporate Information
Trifecta Gold Ltd.
Richard Drechsler
President and CEO
Tel: (604) 687-2522 ext. 262
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.
