Triumph Gold set to begin drilling at Freegold Mountain, Yukon

Triumph is a growth-oriented precious metals exploration and development company with a focus on creating value through the advancement of the Freegold Mountain Project, where the company has previously been working to build ounces at its existing deposits while evaluating a multitude of other targets on the property.

Triumph Gold Corp. has raised $1.92 million from the private placement, which will be used for general working capital, as well as to continue working on the company’s Freegold Mountain project in the Yukon and Andalusite Peak project in British Columbia, and to explore silver projects in North America. Under the terms of the private placement, each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant exercisable to acquire one additional share at a price of 25 cents, exercisable for a term of three years from the date of issuance.

News of the financing comes after Triumph recently said a field crew has been dispatched to the Freegold Mountain property to execute a 1,900-metre diamond drill program targeting the newly discovered porphyry system in the Keirsten Zone. Phase 1.0 drilling is expected to start on March 27, subject to ground conditions.