Troilus Gold Corp. (TSX: TLG) (OTCQB: CHXMF) reports positive new drill results from its Troilus Gold Project, located within the Frotêt-Evans Greenstone Belt in Quebec, Canada. Approximately 40,000 metres of drilling are underway as part of the 2019 exploration program, focusing on expanding near-surface mineralization (in the J Zone and Z87 South areas) to support an open-pit mine scenario. New J4 results continue to support the trend of an expanding gold system that extends laterally along strike and down dip of known drilling.  

Intercept highlights in the J Zone include:

• 3.87 g/t gold equivalent (AuEq) over 6 metres and 2.16 g/t AuEq over 6 metres within a broader intersection of 1.27 g/t AuEq over 74 metres in hole TLG-ZJ419-109
• 2.00 g/t AuEq over 4 metres in hole TLG-ZJ419-108
• 1.18 g/t AuEq over 10 metres in hole TLG-ZJ419-101
• 1.47 g/t AuEq over 10 metres in hole TLG-ZJ419-102

Near surface drilling in the J Zone continues to demonstrate a broadening mineralized zone beyond the limit of historic drilling. These results further confirm the Company’s technical strategy of developing the open pit potential at the J Zone with increased drilling down dip and within the 2018 mineral resource whittle constraining shell.

The Company is beginning to recognize a high grade gold trend developing within a much larger mineralized envelope, demonstrated by hole TLG-J419-109 where 12 metres of 2.16-3.87 g/t gold equivalent was intersected within a 74 metre interval down hole. Ongoing drill results are helping to shape this new and evolving structural interpretation, which will improve the Company’s ability to identify future exploration targets.   

Justin Reid, CEO of Troilus, commented, “Our understanding of this mineral system is taking huge steps forward this year. The team is showing obvious growth at the J Zone and are beginning to better understand controls on high grade at Troilus. We believe this is the first time anyone has had the opportunity to really test geological ideas on this property, and we expect to continue to have success as we test new targets.”

Troilus intends to drill over 40,000 metres as part of its 2019 exploration program, targeting zones Z87 South, the J Zone and J4 North (see press release dated February 7, 2019 for an overview of mineral zones and drill targets).

Figure 1: Plan view of Troilus Property Identifying Section, Drill Hole Locations and Geological Interpretation of Mineralized Zones

https://www.globenewswire.com/NewsRoom/AttachmentNg/4dd1b303-3fda-48f5-91a3-22fb56146446

Figure 2: Section N14150 Facing North

https://www.globenewswire.com/NewsRoom/AttachmentNg/5ae26516-2e18-4c62-8397-d331eed2aad0

Table 1: Summary of Drill Hole Intercepts

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

Quality Control

During the J4 Zone drill program, one metre assay samples are taken from NQ core and sawed in half. One-half is sent for assaying at ALS Laboratory, a certified commercial laboratory, and the other half is retained for results, cross checks, and future reference. A strict QA/QC program is applied to all samples; which include insertion of one certified mineralized standard and one blank sample in each batch of 25 samples. The gold analyses were by fire-assay on 50 grams of pulp with an atomic absorption finish. Repeats were carried out by fire-assay with a gravimetric finish on each sample containing 3.5 g/t Au or more. For the main mineralized zone, two metre assay samples are taken from NQ core and sawed in half. The gold analyses were by metallic sieve. A fine crushing 70% <2mm is performed. The sample is divided so that 1.2 to 1.5 kg is used for analysis. The sample of 1.2 to 1.5 Kg is then 95% pulverized <106 mesh. 50 g is recovered for ME-ICP61 analysis of 33 elements four acid ICP-AES. The remainder of the sample is sent to the screen to divide the fraction larger and smaller than 106 mesh. The portion smaller than 106 mesh is analyzed in 50 g by Fire Assay. The portion larger than 106 mesh is fully analyzed. The values ​​are then combined by weighted calculation. For both type results are transmitted to Troilus Gold by a certificate certified by the laboratory.

Qualified Person

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

About Troilus Gold Corp.

Troilus is a Toronto-based, Quebec focused, advanced stage exploration and early-development company focused on the mineral expansion and potential mine re-start of the former gold and copper Troilus mine. The 16,000-hectare Troilus property is located northeast of the Val-d’Or district, within the Frotêt-Evans Greenstone Belt in Quebec, Canada. From 1996 to 2010, Inmet Mining Corporation operated the Troilus project as an open pit mine, producing more than 2,000,000 ounces of gold and nearly 70,000 tonnes of copper.