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Troilus Drills 4.40 g/t AuEq Over 12 Metres Within a Broader Intersection of 2.10 g/t Over 31 Metres in the J Zone; Confirms +50 Metre Down Dip Mineral Extension

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Troilus Drills 4.40 g/t AuEq Over 12 Metres Within a Broader Intersection of 2.10 g/t Over 31 Metres in the J Zone; Confirms +50 Metre Down Dip Mineral Extension

 

 

 

 

 

Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF) reports additional results from its ongoing exploration and infill drill program on its 100%-owned Troilus Gold Project, which hosts one of the largest undeveloped gold and copper deposits in Quebec, Canada. New results from the J Zone have further confirmed and expanded a parallel zone of mineralization on the western side of the main ore body by up to 50 metres down dip. This new parallel zone of mineralization can be traced over an 850-metre strike length, and is located primarily within the Preliminary Economic Assessment pit shell. The J Zone continued to be a priority exploration target in 2021 as the Company prepares for the upcoming release of an updated mineral resource estimate and inaugural reserve.

 

Highlights from the new J Zone drill results include:

 

  • ZJ21-244 and ZJ21-245 confirms west trend and main zone at depth, and increases drill density within the PEA pit shell which is expected to help upgrade Inferred to Indicated mineral resources in upcoming new estimate (see Figure 2 cross section). Highlights include:
    • 2.10 g/t AuEq over 31 metres, incl. 4.40 g/t AuEq over 12 metres and 27.05 g/t AuEq over 1 metre
  • ZJ21-247, ZJ21-250, ZJ21-251 and ZJ21-252 extend mineralization down dip up to 50 metres, primarily within the PEA pit shell. Highlights include:
    • 1.70 g/t AuEq over 16 metres, incl. 4.16 g/t AuEq over 5 metres and 14.73 g/t AuEq over 1 metre
    • 1.10 g/t AuEq over 18 metres, incl. 1.60 g/t AuEq over 9 metres
    • 2.29 g/t AuEq over 4 metres

 

“We’re pleased with the continued excellent results from the western extension of the J Zone, which further confirm and expand the new parallel zone of mineralization we’ve delineated over the last 12 months. This growing parallel zone is expected to positively impact the strip ratio and overall economics of the project in the upcoming Pre-Feasibility Study, as the majority of the 850-metre zone defined so far is located in areas of the PEA pit shell that were previously considered waste,” commented Justin Reid, President and CEO of Troilus Gold.”

 

The J Zone exploration target includes the smaller of the two formerly mined open pits at Troilus. In 2019, the Company had tremendous drilling success in this zone by applying a new geological model derived from two years of drill analysis, which highlighted the importance of structural controls on gold and copper. This exploration program contributed a significant open-pit resource to the Preliminary Economic Assessment completed in August 2020. Over 81,450 metres have been drilled since the 2020 mineral resource estimate cut off, and the Company intends to continue drilling at a rate of approximately 10,000 metres per month until the end of the year with the intention to include as much of this new data into the upcoming mineral resource estimate and pre-feasibility study as possible.

 

Figure 1: Plan View Map of J Zone with Location of New Drill Results 

https://www.globenewswire.com/NewsRoom/AttachmentNg/8260be11-defc-4af5-a0b6-7165457c6b86

 

Figure 2: J Zone, Section N15075; View of drill holes TLG-ZJ21-244 and TLG-ZJ21-245

 

https://www.globenewswire.com/NewsRoom/AttachmentNg/50e24447-8ed0-4712-a7f7-ae9afa2c2a59

 

 

Table 1: New J Zone Drill Results

 

Hole From
(m)
To (m) Interval
(m)
Inside/Outside
of PEA Pit
Shell
Au Grade
(g/t)
Cu Grade
(%)
Ag Grade
(g/t)
AuEq
Grade (g/t)
TLG-ZJ21-244
  82 110 28 Inside 0.76 0.07 1.42 0.87
including 86.75 103 16.25 Inside 1.03 0.09 1.88 1.16
and 102 103 1 Inside 8.10 0.04 2.00 8.17
  142 142.6 0.6 Inside 0.83 0.20 2.00 1.12
  250 252 2 Inside 1.01 0.10 1.05 1.16
  280 311 31 Inside 2.04 0.04 0.44 2.10
including 299 311 12 Inside 4.35 0.04 0.49 4.40
and 309 310 1 Inside 27.00 0.03 1.00 27.05
  340 341 1 Outside 1.20 0.13 1.90 1.39
TLG-ZJ21-245
  97 106 9 Inside 0.82 0.02 0.28 0.84
including 97 98 1 Inside 4.22 0.01 0.25 4.23
  123 151 28 Inside 0.38 0.07 1.29 0.49
including 127 138 11 Inside 0.50 0.08 1.70 0.62
and 127 128 1 Inside 1.12 0.08 2.00 1.24
and 137 138 1 Inside 1.18 0.07 1.10 1.27
TLG-ZJ21-247
  140 158 18 Inside 0.98 0.07 1.94 1.10
including 142 151 9 Inside 1.45 0.10 2.41 1.60
and 150 151 1 Inside 9.08 0.06 2.50 9.19
  207 208 1 Outside 0.74 0.25 3.80 1.10
  217 218 1 Outside 4.89 0.01 0.25 4.91
TLG-ZJ21-250
  119 125 6 Inside 1.12 0.03 0.52 1.17
including 121 124 3 Inside 1.74 0.03 0.67 1.79
  154 166 12 Inside 1.04 0.05 1.81 1.12
including 159 165 6 Inside 1.43 0.05 1.69 1.51
  177 178 1 Inside 1.69 0.04 1.00 1.75
TLG-ZJ21-251
  138 154 16 Inside 1.63 0.05 1.01 1.70
including 148 153 5 Inside 4.07 0.06 1.14 4.16
and 148 149 1 Inside 14.65 0.05 1.50 14.73
  174 178 4 Inside 2.14 0.10 2.16 2.29
including 175 176 1 Inside 6.31 0.13 4.00 6.53
  197 198 1 Inside 0.86 0.12 1.60 1.04
  213 214 1 Outside 1.58 0.06 1.10 1.67
TLG-ZJ21-252
  129 130 1 Inside 1.42 0.04 0.25 1.47
  160 176 16 Inside 0.74 0.03 0.92 0.79
including 165 167 2 Inside 1.03 0.03 1.25 1.08
and 171 175 4 Inside 1.24 0.03 1.05 1.29

 

*Note drill intervals reported in this news release are down-hole core lengths as true thicknesses cannot be determined with available information.

 

Quality Assurance and Control

 

During the J Zone drill program in 2021, one metre assay samples were taken from NQ core and sawed in half. One-half was sent for assaying at ALS Laboratory, a certified commercial laboratory, and the other half was retained for results, cross checks, and future reference. A strict QA/QC program was applied to all samples; which included insertion of one certified mineralized standard and one blank sample in each batch of 25 samples. Every sample was processed with standard crushing to 85% passing 75 microns on 500 g splits. Samples were assayed by one-AT (30 g) fire assay with an AA finish and if results were higher than 3.5 g/t Au, assays were redone with a gravimetric finish. For QA/QC samples, a 50 g fire assay was done. In addition to gold, ALS laboratory carried out multi-element analysis for ME-ICP61 analysis of 33 elements four acid ICP-AES.

 

Qualified Person

The technical and scientific information in this press release has been reviewed and approved by Kyle Frank, P.Geo., Senior Geologist, who is a Qualified Person as defined by NI 43-101. Mr. Frank is an employee of Troilus and is not independent of the Company under NI 43-101.

 

About Troilus Gold Corp.

 

Troilus Gold Corp. is a Canadian-based junior mining company focused on the systematic advancement and de-risking of the former gold and copper Troilus Mine towards production. From 1996 to 2010, the Troilus Mine produced +2 million ounces of gold and nearly 70,000 tonnes of copper. Troilus is located in the top-rated mining jurisdiction of Quebec, Canada, where is holds a strategic land position of 1,420 km² in the Frôtet-Evans Greenstone Belt. Since acquiring the project in 2017, ongoing exploration success has demonstrated the tremendous scale potential of the gold system on the property with significant mineral resource growth. The Company is advancing engineering studies following the completion of a robust PEA in 2020, which demonstrated the potential for the Troilus project to become a top-ranked gold and copper producing asset in Canada. Led by an experienced team with a track-record of successful mine development, Troilus is positioned to become a cornerstone project in North America.

 

Posted September 21, 2021

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