Trifecta Gold (TG.V): Announces Exploration is Underway at Eureka Gold Project, Yukon
VANCOUVER, BC / ACCESSWIRE / September 9, 2021 / Trifecta Gold Ltd. (TSXV:TG) (“Trifecta” or the “Company”) is pleased to announce that crews have begun surface exploration at its 100% held Eureka Gold Project (“Eureka” or the “Property”) located in the southern portion of Yukon’s Klondike Gold Fields. Trifecta is conducting a detailed mapping and CanDig trenching program at Eureka with the goal of refining existing drill targets and defining additional drill targets in anticipation of a 2022 drill program. The Company was awarded a Yukon Mining Exploration Program (YMEP) grant for Target Evaluation at the Eureka project. Under the YMEP the Yukon Government provides successful applicants funding to support mineral exploration activities for 50% of eligible expenditures to a maximum of $40,000.
Eureka straddles the headwaters of two of the most prolific placer creeks in the southern Klondike, Eureka Creek and Black Hills Creek. The Eureka Gold Project has a long history, with the earliest recorded mineral claims in the area dating back to the early 1900s. Placer activity in the area dates back to the discovery of gold in the Klondike in 1896 and is still highly active today. Major placer creeks draining the Property include Eureka Creek in the northern part of the Property, and upper Black Hills Creek and Childs Gulch in the southern part. Reported gold production from 1978-2020 for Eureka Creek is 101,671 ounces while reported production from Black Hills Creek over the same time period is 115,996 ounces1.
Despite being the source of substantial placer gold, hard rock exploration at Eureka has only been conducted intermittently since 1988. This work resulted in the discovery of the Wealth, Childs, Allen, Happy and Ball showings. Grid soil sampling across parts of the Eureka property has outlined extensive gold-in-soil geochemical anomalies which occur in a northerly elongated belt that is 8 km long and up to 2.5 km wide. Trenching and drilling have identified mineralized structures at the Wealth, Childs, Allen and Happy showings, while placer workings exposed a gold-rich vein at the Ball Showing.
Wealth Showing
Located in the center of the Property, bulldozer trenches across the Wealth Showing exposed quartz breccias with gougy alteration halos. The highest gold assays in trenches include: 0.54 g/t gold across 20 m, 0.97 g/t gold over 17.9 m, and 0.75 g/t gold across 10 m. RC drilling within this showing returned encouraging results including: 0.59 g/t gold across 18.3 m and 2.34 g/t gold over 3.05 m.
Childs Showing
Located 2.5 km south of the Wealth Showing, gold-bearing breccia zones exposed in bulldozer trenches returned 0.72 g/t gold over a true thickness of 4 m and 0.48 g/t gold across a true width of 5.5 m. RC drilling at this showing returned 6.62 g/t gold over 1.52 m and 1.19 g/t gold over 1.52 m.
Allen Showing
Located 800 m northeast of the Wealth Showing, a deep trench cut along a north-trending ridge exposed a brecciated and clay-altered zone that is 2 to 5 m wide. A rock sample from the trench returned 15 g/t gold, while chip sampling across an alteration zone in the trench returned 0.44 g/t gold across 4 m.
Happy Showing
Located 1.8 km north of the Wealth Showing, a sample from an isolated diamond drill hole assayed 9.99 g/t gold over 1.5 m and has not been followed up.
Ball Showing
Located in the southeastern part of the soil grid, a gold-rich quartz vein exposed in bedrock by a placer miner assayed 9.8 g/t gold and 238 g/t silver over 0.6 m. This vein has not been drill tested.
Technical information in this news release has been approved by Heather Burrell, P.Geo., a senior geologist with Archer, Cathro & Associates (1981) Limited and qualified person for the purpose of National Instrument 43-101.
The Company recently completed a trenching and mapping program at its Yuge Gold Project in Nevada as announced July 28, 2021. Mineralized structures were exposed and sampled at multiple targets across the project area. Results will be announced once assays are received and interpreted. Trifecta is planning a follow-up RC drill program at Yuge later in 2021.
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
“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 news release.
