Trifecta Gold Ltd. Receives Approval to Drill Test Its Yuge Gold Project, Nevada
VANCOUVER, October 1, 2020 - Trifecta Gold Ltd. (TSXV:TG) ("Trifecta" or the "Company") announces that it has received approval from the Bureau of Land Management ("BLM") for the upcoming 13 hole RC drill program at its Yuge gold project ("Yuge" or, the "Property"), Nevada. 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. Gold 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 below the Columbia Mine reported true-width drill intersection in this material at 49 m depth returned 3.3 m @ 9.70 g/t Au. Trifecta believes there is considerable potential to discover similar mineralization at depth given the mesothermal character of the veins and the considerable depth extent of gold mineralization in deposits of this class.
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 target.
Trifecta conducted a reconnaissance program in spring of 2018, see press release dated June 21, 2018, which confirmed the presence of high grade gold at multiple showings on the Property. Significant results from rock samples collected during this program are listed below by zone:
- Columbia - 150, 75.4, 34.9, 10.5, 7.4, and 7.13 g/t gold
- Juanita - 11.4, 6.35, and 5.85 g/t gold
- Josie - 86.1, 45.2, 42.2, 36.2, 25.7, 21.6, 16.7, 13.1, and 5.49 g/t gold
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 Matthew R. Dumala, P.Eng., a geological engineer 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"
Interim 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
Interim 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.
SOURCE: Trifecta Gold Ltd.