Regional Silt Survey Highlights Trifecta Gold's Eureka Project, Yukon
- Positive results from the regional BLEG survey highlight the Eureka Project's potential for significant orogenic gold deposits.
- Specific areas within the project, such as the left fork of Eureka Creek and Child's Gulch, showed highly anomalous values for pathfinder elements.
- Trifecta's agreement with Strategic Metals to acquire multiple gold projects in Yukon demonstrates the company's commitment to expanding its portfolio.
- The share consolidation aims to tighten the public float to raise necessary capital for the company's obligations under the new agreement.
- Trifecta's proactive approach to exploration and strategic partnerships positions the company for future growth and success.
- None.
VANCOVER, BC / ACCESSWIRE / April 4, 2024 / Trifecta Gold Ltd. (TSXV: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
"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
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
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
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.
SOURCE: Trifecta Gold Ltd.
View the original press release on accesswire.com
FAQ
What were the results of the regional BLEG survey conducted on Trifecta Gold 's Eureka Project by Newmont Canada?
What specific areas within the Eureka Project showed highly anomalous values for pathfinder elements?
What agreement did Trifecta Gold recently enter into with Strategic Metals ?
Why is Trifecta proceeding with a 4:1 share consolidation?
How many shares of Trifecta Gold will be issued and outstanding post-consolidation?
