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Troilus Drills 6.66 g/t AuEq Over 3m, 1.20 g/t AuEq Over 16m and 1.13 g/t Over 21m in Southwest Zone

Feb 9, 2021

Troilus Gold Corp. is reporting new assay results from the Fall/Winter 2020 drill program at its 100%-owned Troilus Gold Project in north central Quebec. The following drill holes were received from the Southwest Zone, a priority growth target which was discovered and drilled in late 2019 and early 2020 (See Figure 1). These results have identified previously unidentified extensions of mineralization at depth, and confirmed continuity of mineralization within previously undrilled areas of the pit proposed in the Preliminary Economic Assessment (“PEA”) (See press release dated August 31, 2020).

•New higher-grade zones extend known mineralization at least 100 metres below the PEA pit in hole TLG-ZSW20-203 (see Figure 2):

  •1.20 g/t AuEq over 16m

  •6.66 g/t AuEq over 3m, including 17.92 g/t AuEq over 1m

  •1.13 g/t AuEq over 2m, including 2.61 g/t AuEq over 1m, 2.10 g/t AuEq over 1m and 11.76 g/t AuEq over 1m

•New high-grade zone outlined within 50 metres of surface within the PEA pit in step-out hole TLG-ZSW20-200 (see Figure 3):

  •1.44 g/t AuEq over 6m and 3.35 g/t AuEq over 1m within a broader intersection of 1.07 g/t AuEq over 9m

•Several high-grade intersections within broader intervals, located over 100 metres below the pit wall proposed in the PEA in hole TLG-ZSW20-200, including:

  •20.42 g/t AuEq over 1m, 2.05 g/t AuEq over 1m, and 2.98 g/t AuEq over 3m, incl. 8.30 g/t AuEq over 1m

“We are very pleased with the latest results from the Southwest Zone, which confirmed some targeted down dip extensions and also identified new zones of mineralization outside of the current mineral resource envelope and within the PEA pit,” said Justin Reid, Chief Executive Officer of Troilus. “Furthermore, we continue to encounter higher-grade domains within broader disseminated mineralized zones consistent with the largest ore body at Troilus, Zone Z87, located 2.5 kilometres to the northeast. As we define the scale and extent of the Southwest Zone, we are observing a continuity of mineralization from previously undrilled zones within the PEA pit, and continued expansion well beyond it, which could not only enhance the economics of the project by reducing the strip ratio but also provide an opportunity to increase the production profile in the Pre-Feasibility Study planned later this year. The Southwest Zone remains entirely open to further expansion and will continue to be a priority drill target in 2021.”

This Southwest Zone is located approximately 2.5 kilometres southwest of the former mine site and main mineral resource area (See Figure 1). It was initially discovered and drilled in late 2019 and early 2020 following some new geologic modelling work by Troilus’ technical team. A minimal 8,500 metres of drilling in this zone has already outlined an estimated Inferred resource of 580,000 oz of gold equivalent ounces (22.6 Mt, at avg. grade of 0.80 g/t AuEq).

Tags: Quebec / Exploration / Gold / All Articles