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Troilus Drills 4.52 g/t AuEq Over 5m Within a Broader Interval of 2.06 g/t AuEq Over 14m, Extending Mineralization Up To 200m Outside of the Pea Pit Shell

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Troilus Drills 4.52 g/t AuEq Over 5m Within a Broader Interval of 2.06 g/t AuEq Over 14m, Extending Mineralization Up To 200m Outside of the Pea Pit Shell

 

 

 

 

 

Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF) reports additional assay results from the Southwest Zone at its 100%-owned Troilus deposit, located in northcentral Quebec, Canada, as part of an ongoing drill program primarily targeting the Southwest Zone in advance of a new mineral resource estimate and Pre-Feasibility Study scheduled for completion in the first half of 2022. The Southwest Zone is located ~2.5 kilometres southwest of the former mine and main mineral zones, directly adjacent to the access road of the Troilus mine site. Initially discovered and drilled in late 2019, the Southwest Zone has become one of the most significant areas of mineral growth on the property, with a mineral strike length that has more than doubled to 1.85 kilometres in the last 12 months.

 

The majority of intercepts reported herein are located at surface, outside of the pit shell proposed in the Preliminary Economic Assessment from August 2020, including five holes targeting mineral extensions on the western edge of the Southwest ore body (holes SW-21-520, SW-21-521, SW-21-522, SW-21-537 and SW-21-538) which confirmed extensions of mineralization up to 85 metres down dip.

Southwest Zone Intercept Highlights, include:

 

Hole SW-21-523

  • 4.52 g/t AuEq over 5m, within a broader intersection of 2.06 g/t AuEq over 14m, as well as 1.35 g/t AuEq over 6m, including 3.17 g/ AuEq over 2m
  • These strong intersections add confidence to the mineral corridor and confirm a continuity of the ore body up to 200 metres below the PEA pit shell

 

Hole SW-21-537

  • 3.19 g/t AuEq over 5m, within a broader intersection of 1.14 g/t AuEq over 19m, located within 80 metres from surface and 150 metres southwest of the PEA pit shell
  • 1.19 g/t AuEq over 7m
  • 1.15 g/t AuEq over 6m, incl. 5.28 g/t AuEq over 1m
  • All intercepts from hole 537 are located outside of the PEA pit shell, further confirming down dip extensions of mineralization by 65 metres.

 

Hole SW-21-538

  • 1.01 g/t AuEq over 16m, including 1.32 g/t AuEq over 10m, located 100m below PEA pit shell
  • All drilled intercepts located outside of the PEA pit shell

 

Justin Reid, President, CEO and Director of Troilus Gold, stated, “2021 was a stand-out year on the exploration front, marked by major growth and technical advancements in the Southwest Zone. This is a very young discovery that we initially drilled just 2 years ago, and already we have identified a contiguous ore body extending over 1.85 kilometres. Every hole reported today has expanded or confirmed mineralization outside of the PEA pit shell, which strengthens my confidence in the decision we made late last year to revise the timing of the updated mineral resource estimate to the first half of this year. We believe this growing zone could be a major production center of the future mine due to our evolving understanding that the ore body is directly at surface and generally higher grade than the rest of the deposit. Therefore, we feel it’s important for this zone to be properly represented in the upcoming Pre-Feasibility Study. We currently have four drill rigs focused in the Southwest Zone, with a fifth being mobilized in the coming week, together drilling at a rate of approximately 10,000 metres per month to further improve drill density and define the extent of the zone.”

 

Figure 1: Plan View Map and 3D Renderings of Southwest Zone Drill Results


https://www.globenewswire.com/NewsRoom/AttachmentNg/d81b36e0-e2e7-420b-80f6-43ec21ade8a5

 

Table 1: Southwest Zone Drill Results

 

Hole From
(m)
To
(m)
Interval
(m)
Inside/Outside
of 2020 PEA
Pit Shell
Au Grade
(g/t)
Cu Grade
(%)
Ag Grade
(g/t)
AuEq Grade
(g/t)
SW-21-502              
  41 42 1 Inside 1.02 0.04 0.70 1.10
  61 80 19 Inside 0.63 0.06 0.65 0.71
incl 61 63 2 Inside 1.16 0.07 0.60 1.33
incl 75 78 3 Inside 0.92 0.09 0.57 1.05
  85 93 8 Inside 0.73 0.04 1.00 0.79
incl 85 86 1 Inside 1.21 0.09 0.90 1.33
  104 107 3 Inside 1.77 0.02 0.25 1.80
  123 124 1 Inside 1.17 0.11 0.50 1.30
  139 145 6 Outside 0.55 0.20 2.45 0.83
incl 144 145 1 Outside 1.57 0.42 6.40 2.17
SW-21-514              
  33 34 1 Inside 1.13 0.04 0.25 1.18
  47 57 10 Inside 0.97 0.12 0.96 1.13
  48 53 5 Inside 1.46 0.15 1.00 1.66
  72 75 3 Inside 0.88 0.04 0.75 0.94
  146 147 1 Outside 1.18 0.07 0.90 1.27
SW-21-520
  85 86 1 Outside 1.10 0.00 0.03 1.11
  93 101 8 Outside 0.66 0.02 1.53 0.70
incl 100 101 1 Outside 3.27 0.01 0.03 3.28
  105 118 13 Outside 1.01 0.00 0.40 1.02
incl 110 111 1 Outside 3.51 0.00 0.03 3.52
incl 115 117 2 Outside 2.63 0.00 0.51 2.64
  287 288 1 Outside 1.75 0.02 0.60 1.77
  321 322 1 Outside 1.80 0.00 0.03 1.81
  382 385 3 Outside 0.92 0.06 0.38 1.01
  453 454 1 Outside 0.61 0.86 7.70 1.78
SW-21-521
  95 99 4 Outside 1.48 0.00 2.19 1.51
incl 95 97 2 Outside 2.71 0.01 4.35 2.76
  266 267 1 Outside 2.55 0.06 0.03 2.64
  287 288 1 Outside 1.49 0.24 2.80 1.82
  293 301 8 Outside 1.01 0.04 0.03 1.06
incl 298 299 1 Outside 5.31 0.03 0.03 5.35
  326 327 1 Outside 1.94 0.02 0.03 1.97
  349 370 21 Outside 0.62 0.09 0.93 0.75
incl 349 350 1 Outside 2.37 0.22 2.10 2.67
incl 369 370 1 Outside 4.81 1.13 13.40 6.39
  386 410 24 Outside 0.65 0.02 0.11 0.68
incl 386 395 9 Outside 0.88 0.02 0.14 0.91
incl 386 387 1 Outside 3.19 0.02 0.03 3.22
  420 421 1 Outside 1.34 0.01 0.03 1.36
  438 439 1 Outside 1.31 0.03 1.50 1.36
  454 471 17 Outside 0.58 0.08 0.82 0.70
incl 456 459 3 Outside 0.93 0.18 2.13 1.18
SW-21-522              
  264 269 5 Outside 1.09 0.01 0.03 1.10
  322 323 1 Outside 1.82 0.07 0.03 1.91
  389 390 1 Outside 1.73 0.05 0.03 1.79
  422 423 1 Outside 2.21 0.21 2.70 2.50
  443 448 5 Outside 0.89 0.04 0.32 0.95
  457 470 13 Outside 0.67 0.05 0.38 0.74
incl 457 458 1 Outside 2.90 0.06 0.50 2.99
  473 487 14 Outside 0.67 0.05 0.43 0.75
incl 473 474 1 Outside 1.23 0.07 0.70 1.32
incl 479 480 1 Outside 1.82 0.01 0.03 1.84
  511 512 1 Outside 2.37 0.00 1.70 2.39
  516 517 1 Outside 1.68 0.01 0.03 1.69
SW-21-523
  38 39 1 Inside 1.24 0.01 15.30 1.41
  83 86 3 Inside 1.05 0.00 0.94 1.07
  111 112 1 Inside 1.55 0.00 0.03 1.55
  253 254 1 Outside 1.27 0.02 0.90 1.31
  352 353 1 Outside 1.24 0.05 7.30 1.39
  408 422 14 Outside 1.98 0.06 0.98 2.06
incl 414 419 5 Outside 4.40 0.08 1.25 4.52
  445 446 1 Outside 1.24 0.25 1.20 1.57
  472 474 2 Outside 1.64 0.13 0.71 1.82
  532 538 6 Outside 1.03 0.24 1.89 1.35
incl 535 537 2 Outside 2.45 0.53 4.20 3.17
SW-21-537
  59 78 19 Outside 1.08 0.03 2.16 1.14
incl 69 74 5 Outside 3.12 0.02 3.42 3.19
  244 245 1 Outside 1.59 0.03 0.03 1.63
  261 268 7 Outside 1.16 0.02 0.22 1.19
  290 291 1 Outside 3.12 0.00 0.03 3.13
  312 313 1 Outside 1.11 0.03 0.70 1.15
  316 322 6 Outside 1.11 0.03 0.55 1.15
incl 319 320 1 Outside 5.26 0.02 0.03 5.28
  350 351 1 Outside 4.84 0.01 0.03 4.85
  380 381 1 Outside 1.91 0.01 0.03 1.93
SW-21-538
  207 208 1 Outside 0.95 0.04 1.70 1.02
  215 216 1 Outside 1.44 0.08 2.40 1.56
  360 361 1 Outside 1.32 0.00 0.50 1.33
  390 406 16 Outside 0.86 0.10 2.17 1.01
incl 390 400 10 Outside 1.12 0.13 2.86 1.32

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

 

COVID-19 Readiness & Response

 

Troilus continues to identify and implement measures to protect the health and well-being of its employees and communities, while following recommendations of health authorities.

 

Quality Assurance and Control

 

During the Southwest 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 January 20, 2022

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