March 18, 2021 - Trifecta Gold Ltd. (TSX-V: TG) ("Trifecta" or the "Company") is pleased to announce initial results from its maiden drill program at the road accessible Yuge Gold Project ("Yuge" or the "Property") located in northwestern Nevada.
Highlights include:
- Near surface drilling intersects multiple gold zones,
- 3.63 grams per tonne gold (g/t Au) over 15.24 m (including 15.5 g/t Au over 1.53 m and 6.38 g/t Au over 1.52 m) from hole YU-21-02;
- 2.89 g/t Au over 9.14 m (including 6.74 g/t Au over 1.52 m) also from hole YU-21-02; and,
- grab samples grading 57.7 g/t Au and 21.2 g/t Au from new showings.
Trifecta's maiden drill campaign at Yuge consisted of seven reverse-circulation (RC) drill holes, three of which tested below the historical Columbia Mine, two below the historical Juanita Mine and two under high grade surface showings at the Josie Zone. At the Columbia Mine, hole YU-21-02 was collared 100 m from the only known historical drill holes on the property and intersected two broad zones of mesothermal gold mineralization associated with arsenopyrite and quartz veining. The top zone graded 2.89 g/t gold over 9.14 m and was followed by 15.24 m of 3.63 g/t gold 6.1 m further down hole. Hole YU-21-01 was collared 100 m to the southeast of YU-21-02, and while it intersected a 4.57 m section containing scorodite, an indicative hydrothermal mineral, it is unclear if it crossed the target structure.
"The discovery of multiple gold zones under and alongside the historical high-grade workings at the Columbia Mine demonstrates the highly prospective nature of the Yuge Property," states Richard Drechsler, President and CEO. "The upper zone in Hole 2 was unexpected and the lower zone is significantly wider than was suggested by any of the historical records. Results from this drilling and recent surface sampling suggest there is excellent potential for more discoveries as we apply modern exploration techniques throughout the project area."
Hole | From (m) | To (m) | Width (m) | Gold (g/t) |
YU-21-01 | 76.2 | 80.77 | 4.57 | 0.18 |
YU-21-02 | 71.63 | 73.15 | 1.52 | 2.72 |
and | 79.25 | 88.39 | 9.14 | 2.89 |
including | 82.3 | 83.82 | 1.52 | 6.74 |
and | 94.49 | 109.73 | 15.24 | 3.63 |
including | 100.58 | 102.11 | 1.53 | 15.55 |
YU-21-03 to -07 | Assays pending | |||
Surface work by Trifecta has identified several high grade surface showings elsewhere on the Property that have yet to be drill tested. Partial results from prospecting have been received and include grab sample results of 57.7 g/t and 21.2 g/t gold from separate showings outside of the previously identified zones (see attached figure). While building drill sites at the Josie zone, Trifecta uncovered an undocumented adit. Samples collected along strike of the adit graded 13.1 g/t gold, 6.03 g/t gold and 7.39 g/t gold.
Additional surface and drill results from the remaining five holes will be released once assays have been received, compiled and evaluated.
About Yuge
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 gold and reported sampling of a crown pillar returned 16.8 g/t gold over 2.4 m, including 50.7 g/t gold over 0.6 m. Sulphide mineralization occurs at depths greater than 30 m with arsenopyrite-rich material reportedly assaying greater than 17.4 g/t gold. A historical drill hole, completed by Homestake Mining Company and directed underneath the Columbia workings, cut sulphide mineralization at 49 m depth that returned 9.70 g/t gold over 3.3 m.
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.
