Trifecta Gold Announces Start of Drilling at Yuge Gold Project, Nevada and Provides Corporate Update
VANCOUVER, BC / ACCESSWIRE / January 26, 2022 / Trifecta Gold Ltd. (TSXV:TG) ("Trifecta" or the "Company") is pleased to announce the commencement of a reverse-circulation ("RC") drill program at the Company's wholly owned road accessible Yuge Gold Project ("Yuge" or the "Property") located in northern Nevada.
Yuge covers a growing number of high grade mesothermal gold vein targets surrounding the historical Columbia and Juanita mines as well as bulk tonnage gold mineralization associated with medium grained diorite dykes and intrusions. The current drill campaign will include up to 1,200 m of drilling designed to better constrain the orientation of and expand upon the known mineralization at the Columbia and Juanita targets.
Complete drill results from 2021 were announced April 19, 2021 with highlights from Columbia and Juanita including:
2.27 g/t gold over 38.1 m (including 3.63 g/t gold over 15.24 m) from hole YU-21-02 at Columbia; and,
0.99 g/t gold over 30.48 m (including 3.4 g/t gold over 6.1 m) from hole YU-21-07 at Juanita;
Other highly prospective targets include Josie, where surface samples grading in excess of 10 g/t gold have been collected over a 550 m strike length, and Trench I, (located central to Josie, Columbia and Juanita) which returned 17.7 m of 2.34 g/t gold (including 2 m of 6.49 g/t gold) from a highly altered granodiorite unit (announced November 2, 2021).
Additional soil sampling throughout the project area is planned to help define additional drill targets. Reclamation of existing trenches is scheduled in order to permit additional drill sites for follow-up programs.
Trifecta is pleased to announce the appointment of Rachele Gordon, CPA, CA as a director of the Company effective January 25, 2022. Ms. Gordon holds a Bachelor of Commerce from the University of Calgary and is a Chartered Professional Accountant in British Columbia. She is currently a Senior Manager in Taxation Services with MNP LLP, one of the largest full-service chartered professional accountancy and business advisory firms in Canada. Under the Company's Incentive Stock Option Plan, Trifecta has granted Ms. Gordon 250,000 incentive stock options at a price of $0.08 per share for a period of five years. These options are subject to vesting provisions under which 25% of the options will vest at the conclusion of each three months during the first year of the exercise period.
Trifecta has relocated its office to unit 510 - 1100 Melville Street, Vancouver BC, V6E 4A6, please send all future correspondence to our new address.
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 target, 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. Recently identified broad zones of gold mineralization are associated with diorite dykes/intrusions. 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 (Columbia target). Sulphide mineralization occurs at depths greater than 30 m with arsenopyrite-rich material reportedly assaying greater than 17.4 g/t gold. Historical mining only extended down to the bottom of the oxidized 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 reviewed and approved by Heather Burrell, P.Geo., a senior 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-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.
ON BEHALF OF THE BOARD
President and CEO
For further information concerning Trifecta or its various exploration projects please visit www.trifectagold.com or contact:
Trifecta Gold Ltd.
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 theTSX 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.
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