April 4, 2024 - Trifecta Gold Ltd. (TSX-V: TG) (OTCQB: TRRFF) (“Trifecta” or the “Company”) is pleased to report results of a regional Bulk Leach Extractable Gold (“BLEG”) survey conducted in 2023 by Newmont Canada, which included the area covering the Company’s 100% owned, road accessible Eureka Project. Multiple sample sites on the Company’s Eureka Project returned 99th percentile results for gold and other pathfinder elements characteristic of orogenic gold deposits.
“The results of Newmont Canada’s BLEG survey highlights the prospectivity of the Eureka Project to host a significant orogenic gold deposit,” states Richard Drechsler, Trifecta’s President and CEO. “Prior work has largely focused on showings along the central axis of the property, where excavator trenching and reverse circulation drilling have returned broad gold intercepts associated with breccias, gouge zones and quartz veins developed along both low angle shears and high angle fault zones. This newly identified silt anomaly is from an area that has seen relatively limited exploration and is underlain by a major north- to northwest-trending fault. We are very encouraged by these results and look forward to returning to site for follow-up.”
Survey details:
In 2023, Newmont Canada conducted an independent regional BLEG sampling survey totaling 292 sample sites in west-central Yukon. With permission from Trifecta, Newmont Canada sampled 6 sites within the Company’s Eureka Project as allowed by the Company’s existing exploration permits. Sample sites were selected to be outside or upstream of historical placer mining ground disturbance and no samples were collected within active mining operations.
Field samples were collected by Newmont personnel and chemical analyses were performed in the Newmont (USA) laboratory in Denver, Colorado. Trifecta was recently provided the analytical results for 6 sample sites on the Eureka Project, including the values of 50 elements as well as a percentile ranking value (out of 100%, where 100% is highest value) for each element analyzed, relative to the 292-sample regional dataset.
Percentile rankings of the 6 samples, for orogenic gold pathfinder elements gold (Au), tellurium (Te), silver (Ag), arsenic (As), bismuth (Bi), as well as copper (Cu) and lead (Pb), are classified below.
| Element of interest | >99th to 100th percentile | 90th to <99th percentile |
|---|---|---|
| Gold (Au) | 2 of 6 samples | |
| Tellurium (Te) | 1 of 6 samples | 1 of 6 samples |
| Silver (Ag) | 3 of 6 samples | |
| Arsenic (As) | 1 of 6 samples* | 2 of 6 samples |
| Bismuth (Bi) | 2 of 6 samples | |
| Copper (Cu) | 1 of 6 samples | |
| Lead (Pb) | 2 of 6 samples |
* includes the highest arsenic value of the entire regional survey
The survey highlighted the left fork of Eureka Creek and Child’s Gulch as highly anomalous, with multiple samples returning 90th percentile to 100th percentile values for pathfinder elements. The eastern tributary of the left fork of Eureka Creek has not been sampled or prospected by Trifecta and represents a priority target area for future work.
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.
Corporate Update
Trifecta recently announced that it entered into a binding agreement with Strategic Metals Ltd. to acquire up to 100% of Mt. Hinton and 10 other highly prospective, intrusion-related gold projects located in Yukon’s Tombstone Gold Belt. The TSX Venture Exchange has notified the Company that the agreement requires disinterested shareholder approval, which the Company plans to seek at its upcoming Annual General and Special Meeting.
Trifecta is proceeding with a 4:1 share consolidation as announced March 1st, 2024. The effective date of the consolidation will be confirmed at a future time, following the Company’s receipt of acceptance from the TSX Venture Exchange for this consolidation. The reason for the consolidation is to tighten the public float so as to facilitate the raising of the required capital to fund Trifecta’s obligations under its agreement with Strategic Metals Ltd. There are currently 80,099,286 shares of Trifecta issued and outstanding, and there will be approximately 20,024,822 shares issued and outstanding post-consolidation. There will not be a change of name in conjunction with this consolidation.
About Trifecta Gold Ltd.
Trifecta is a Canadian-based precious metals exploration company dedicated to increasing shareholder value through the discovery and development of 100% held gold projects in Yukon and Nevada. Initial drilling at its Yuge Gold Project, located in northern Nevada, has identified multiple broad zones of gold mineralization near historical high-grade mines. The Company’s Eureka Project hosts an 8 x 2.5 kilometre belt of surface showings and anomalous gold-in-soil that straddle the headwaters of two of the most productive placer creeks in Yukon’s southern Klondike Goldfields. The Company’s Treble Project covers a large hydrothermal system, located midway between Western Copper and Gold Corporation’s Casino Deposit, the largest copper and gold deposit in the Yukon, and Rockhaven Resources Ltd.’s Klaza Deposit, a high-grade gold-silver deposit.
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
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 news release.
