Prospecting and mapping for intrusion related gold in Yukon's Tombstone Gold Belt.
Previous rock samples near the contact between sedimentary and intrusive rocks yielded 8.37 g/t gold.
Located near infrastructure 15 km south of the North Canol Highway and Fireweed Metals' Macpass Project.
VANCOUVER, BC / ACCESSWIRE / July 30, 2024 /Trifecta Gold Ltd. (TSXV:TG)(OTCQB:TRRFF) ("Trifecta" or the "Company") is pleased to announce that field work is now underway at the Rye Project (the "Project"), where the Company was awarded a Yukon Mineral Exploration Program ("YMEP") grant for Target Evaluation. Under the YMEP, the Yukon Government provides successful applicants funding to support mineral exploration activities for 50% of eligible expenditures to a maximum of $50,000.
The Rye Project is situated between two Mid-Cretaceuous granitic intrusions in the eastern portion of Yukon's Tombstone Gold Belt. It is well located, only 14 km from the North Canol Highway, 15 km from Fireweed Metals Corp.'s Macpass Project, and 95 km from Snowline Gold Corp.'s Valley Gold Deposit. Previous work on the Project has identified gold-rich veins near the contact between sedimentary and intrusive rocks, with rock samples yielding between 3.86 and 8.37 g/t gold. Silver-lead-zinc-tin±tungsten rich veins occur outboard of the contact and within metasedimentary rocks.
Trifecta's crew will conduct detailed mapping and prospecting within and adjacent to two known intrusions on the property to evaluate the potential for a Reduced Intrusion Related Gold System ("RIRGS"). Mapping is essential to delineate the prospective intrusive-metasedimentary contacts in the south and north of the property, and to develop a structural framework for mineralization. Historically, very little attention has been given to the intrusions, and it is not known if sheeted veins or mineralization is present within the intrusions themselves. Gridded soil sampling will provide multi-element pathfinder data that is critical for vectoring into mineralization related to RIRGS. Finally, a LiDAR ("Light Detection and Ranging") survey will be completed over the property to gain a baseline elevation model, which is necessary for establishing an effective 3-D model for future drilling.
Tombstone Gold Belt
Extending for more than 1000 km from the Fairbanks district in Alaska eastward across the entire width of Yukon, the Tombstone Gold Belt hosts many large RIRGS mines such as Fort Knox in Alaska (>10 million oz), Eagle and Olive in Yukon (>4 million oz) and the past-producing Brewery Creek Mine, also in Yukon. Since May 2020 over 17 million additional ounces of gold have been discovered in the Yukon portion of the belt, including Snowline Gold's Tier 1 Valley discovery, Sitka Gold's RC deposit, Banyan Gold's AurMac deposits and Victoria Gold's Raven deposit.
Tombstone Gold Belt systems are characterized by sheeted, auriferous quartz veins forming in the carapace zones of Cretaceous-age plutons. They have a characteristic geochemical signature with a gold-bismuth-tellurium±tungsten core within a broader gold-arsenic halo. The deposits are found within and surrounding the reduced intrusions, and typically exhibit a geophysical signature comprising a magnetic low (ie. reduced) coinciding with at conductivity low. Veining in RIRGS systems is typically zoned with a core of sheeted veins surrounded by more discrete gold-arsenic veins and more distal silver-lead-zinc veins.
Stock Options
Trifecta also announces that it has granted incentive stock options to its directors, officers and consultants, entitling them to purchase up to 1,485,000 common shares at a price of $0.15 per share for a period of five years. These options will vest on a quarterly basis commencing three months from the date of the grant.
Technical information in this news release has been approved by Trifecta's Vice President, Jackson Morton, P.Geo., a qualified person as defined under the terms 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. Trifecta has secured an option to acquire a 100% interest in Mt. Hinton and 10 other highly prospective, intrusion-related gold projects located in Yukon's Tombstone Gold Belt where over 17 million ounces of gold have been discovered since May 2020. Initial drilling at the Company's 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. Trifecta'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, CEO & Director 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.
