Troilus Gold Corp. (TSX: TLG) (OTCQB: CHXMF) reports positive drill results from the J Zone as part of the ongoing exploration and infill program on its 100%-owned Troilus Gold Project the largest gold and copper development project within the Frotêt-Evans Greenstone Belt in Quebec, Canada. The identification of a substantial new western extension of the J Zone, traced over a minimum of 200 metres in strike, previously modelled as waste within the pit shell proposed in the Preliminary Economic Assessment (See August 31, 2020 press release), has the potential to add substantial value to the Company’s development model.
Highlights from the J Zone drill results include:
These results have defined new extensions of mineralization within and outside of the pit shell proposed in the PEA, one of which identified a new gold zone with continuous mineralization over 68 metres within 200m from surface (see drill hole TLG-ZJ21-226, Figure 3). Gold mineralization at the J Zone target currently covers an area of approximately 1.5km by 1km and remains open in all directions (see Figure 1).
“The latest results from the J Zone drilling continue to validate our belief in the scale potential of the gold system on our property,” commented Justin Reid, CEO of Troilus Gold. “The Troilus Mine operated for 14 years starting in 1996, during a very weak gold environment which, among other factors, resulted in minimal expansion drilling outside of the main mineralized zones to replace the mine’s reserves. In the few years since acquiring Troilus, systematic drilling driven by a new geological model and an improved understanding of the structural controls of the mineralization has significantly expanded the footprint of mineralization across the entire deposit, including the most recent results in the J Zone where we identified new broad gold zones that are near surface and directly adjacent to the former operation. We expect these results to have a meaningful impact on the economics of the project.”
These are the first results from the J Zone since it was extensively drilled during the successful 2019 mineral expansion program that showcased open pit potential at Troilus. In 2020, drilling focused primarily on the new and expanding Southwest Zone (see 2021 press releases dated Jan. 12, Feb. 9, Feb 24, Mar. 16, and Apr. 8), however 2 drills were mobilized to the J Zone earlier this year with the aim to continue improving drill resolution while defining the extent of the mineral boundaries.
These intercepts are demonstrating new hanging wall mineral extensions that appear to be widening as they are drilled deeper, as has been observed in the lower levels of J Zone and the Southwest Zone. Furthermore, the new zone appears to be higher grade than the previously defined mineralization at J Zone.
Additional drilling has been planned in this new area of interest and currently two drill rigs are focused on expansion and delineation in advance of a mineral resource update and Pre-Feasibility Study planned for completion in the second half of 2021. Troilus has completed 32,000 metres of drilling since January 2021 and intends to drill approximately 10,000 metres per month throughout the summer.
Figure 1: Plan View Map of J Zone with Location of New Drill Results
Figure 2: Section N14250; View of drill hole TLG-ZJ21-225
Figure 3: Section N14300; View of drill hole TLG-ZJ21-226
Table 1: New Southwest Zone Drill Results Highlights
of PEA Pit
*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.
The technical and scientific information in this press release has been reviewed and approved by Yves Caron, M.Sc., P.Geo., Project Manager, who is a Qualified Person as defined by NI 43-101. Mr. Caron 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 for generations to come.
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