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Troilus Expands Western Footprint of J Zone; Intersects 2.12 g/t AuEq Over 13 Metres and 1.10 g/t AuEq Over 68 Meters Within 200 Metres of Surface

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Troilus Expands Western Footprint of J Zone; Intersects 2.12 g/t AuEq Over 13 Metres and 1.10 g/t AuEq Over 68 Meters Within 200 Metres of Surface

 

 

 

 

 

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:

 

  • ZJ21-226 was drilled 50 metres beyond any previous historic holes, identifying a new parallel zone of gold mineralization within 200m from surface: 
      • 1.10 g/t AuEq over 68m, incl. 1.65 g/t AuEq over 10m 
      • 2.23 g/t AuEq over 3m 
  • ZJ21-225 drilled 50m beyond all historic holes, defined strong mineral continuity to the northwest, an undrilled area of the PEA pit previously considered waste. Furthermore, excellent grades and widths were intersected over 300 metres beyond the PEA pit shell, extending down dip mineralization over 650 metres below surface: 
      • 1.01 g/t AuEq over 34m, incl. 1.40 g/t AuEq over 15m and 1.60 g/t AuEq over 5m, located 100m from surface and within the PEA pit shell 
      • 2.12 g/t AuEq over 13m, incl. 7.13 g/t AuEq over 1m and 4.39 g/t AuEq over 3m, located outside of the PEA pit shell

 

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


https://www.globenewswire.com/NewsRoom/AttachmentNg/9a44a8ff-a067-4164-891c-1f36114ba9b1

 

Figure 2:  Section N14250; View of drill hole TLG-ZJ21-225 


https://www.globenewswire.com/NewsRoom/AttachmentNg/3ce6db97-124d-4576-96f6-ce4de212c3bf

 

Figure 3:  Section N14300; View of drill hole TLG-ZJ21-226 


https://www.globenewswire.com/NewsRoom/AttachmentNg/dc0a1efd-480a-489a-9613-7f17415845f0

 

 

Table 1: New Southwest Zone Drill Results Highlights

 

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-ZJ21-221
  220 226 6 Inside 0.81 0.20 2.33 1.09
  237 238 1 Inside 2.31 0.10 1.10 2.46
  278 280 2 Inside 1.68 0.20 2.95 1.97
316 317 1 Inside 1.43 0.05 1.00 1.50
  325 360 35 Inside 0.66 0.05 1.06 0.74
incl. 333 337 4 Inside 1.35 0.06 1.31 1.44
and 349 358 9 Inside 0.97 0.07 1.96 1.09
366 367 1 Inside 0.98 0.01 0.25 1.00
374 375 1 Inside 1.19 0.06 1.00 1.28
378 379 1 Inside 0.84 0.11 1.60 1.00
407 408 1 Outside 1.51 0.41 7.20 2.12
TLG-ZJ21-222
117 118 1 Inside 1.55 0.05 0.25 1.62
151 156 5 Inside 0.54 0.19 1.37 0.81
213 214 1 Inside 1.21 0.16 23.40 1.66
  272 306 34 Inside 0.52 0.06 0.83 0.61
incl. 274 279 5 Inside 1.27 0.16 2.04 1.49
and 295 296 1 Inside 1.37 0.04 0.60 1.43
and 304 305 1 Inside 1.54 0.02 0.25 1.57
333 338 5 Inside 0.69 0.01 0.35 0.72
343 348 5 Inside 1.61 0.09 1.60 1.74
356 359 3 Inside 0.77 0.03 0.37 0.81
391 392 1 Outside 1.67 0.02 1.40 1.71
TLG-ZJ21-223
  188 210 22 Inside 0.53 0.16 1.12 0.75
incl. 199 210 11 Inside 0.78 0.21 1.38 1.07
and 200 204 4 Inside 1.19 0.38 2.80 1.72
TLG-ZJ21-224
150 151 1 Inside 0.91 0.78 3.90 1.96
192 193 1 Inside 1.36 0.24 3.80 1.71
202 215 13 Outside 0.42 0.14 0.92 0.62
incl. 214 215 1 Outside 2.43 0.77 6.30 3.50
TLG-ZJ21-225
  58 59 1 Inside 0.91 0.24 4.60 1.27
  62 96 34 Inside 0.62 0.27 3.96 1.01
incl. 70 75 5 Inside 1.03 0.39 6.12 1.60
and 78 93 15 Inside 0.86 0.37 5.62 1.40
and 78 83 5 Inside 0.95 0.44 7.70 1.59
  125 126 1 Inside 0.86 0.26 3.20 1.23
  156 160 4 Inside 0.94 0.17 1.66 1.18
  165 167 2 Inside 0.78 0.25 2.85 1.14
  270 271 1 Inside 0.81 0.33 2.90 1.26
  369 370 1 Outside 2.18 0.20 2.10 2.46
  449 456 7 Outside 0.72 0.20 1.84 1.00
incl. 449 450 1 Outside 1.83 0.06 0.80 1.91
and 454 455 1 Outside 0.98 0.65 4.90 1.88
  466 467 1 Outside 1.33 0.12 2.00 1.51
  479 482  3 Outside 1.16 0.31 3.90 1.60
  546 547 1 Outside 1.67 0.15 2.10 1.88
  554 556 2 Outside 1.67 0.11 1.63 1.82
  564 571 7 Outside 0.86 0.03 0.98 0.92
incl. 567 569 2 Outside 2.09 0.03 1.25 2.14
  591 592 1 Outside 1.42 0.07 1.90 1.53
  619 621 2 Outside 1.09 0.03 0.60 1.14
  674 687 13 Outside 1.83 0.19 3.69 2.12
incl. 675 676 1 Outside 6.54 0.41 5.30 7.13
and 679 682 3 Outside 3.76 0.41 8.67 4.39
  709 710 1 Outside 1.18 0.34 3.80 1.66
TLG-ZJ21-226
  93 161 68 Inside 0.71 0.27 3.80 1.10
incl. 103 112 9 Inside 0.90 0.47 7.43 1.59
and 118 128 10 Inside 1.08 0.39 5.09 1.65
and 151 159 8 Inside 1.08 0.42 5.54 1.69
  181 188 7 Inside 0.73 0.32 4.26 1.19
incl. 181 184 3 Inside 1.26 0.67 9.01 2.23
  203 209 6 Inside 0.69 0.37 3.74 1.22
TLG-ZJ21-227
  122 129 7 Inside 0.47 0.11 1.99 0.63
incl. 127 128 1 Inside 1.55 0.34 6.40 2.06
  150 159 9 Inside 0.41 0.16 2.55 0.64
incl. 153 154 1 Inside 0.87 0.27 4.10 1.26
and 157 158 1 Inside 0.92 0.46 6.30 1.58

*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 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.

 

Posted May 12, 2021

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