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Troilus Gold Corp
Symbol	TLG
Shares Issued	62,060,578
Close 2019-08-19	C$ 0.70
Market Cap	C$ 43,442,405
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Troilus drills 48 m of 1.1 g/t AuEq at Troilus

2019-08-19 06:11 ET - News Release

Mr. Justin Reid reports

TROILUS DRILLS 5.06 G/T AUEQ OVER 6 METRES WITHIN 1.10 G/T AUEQ OVER 48 METRES IN NEW "Z87 SOUTH" EXTENSION

Troilus Gold Corp. has discovered a new area of gold mineralization extending over 300 metres southwest of the main zone 87, within the zone 87 South trend at its Troilus gold project, located within the Frotet-Evans greenstone belt in Quebec, Canada.

The Z87 South exploration target is located directly southwest of zone 87 and the former main Z87 open pit. These drill results have outlined extensions of mineralization to the south and downdip of the previously known mineral envelope in zone 87.

Notable intercepts that have extended mineralization into Z87 South, include:

5.06 grams per tonne gold equivalent (AuEq) over six metres within a broader intersection of 1.10 g/t AuEq over 48 metres in hole TLG-Z87S19-133;
3.85 g/t AuEq over two metres within a broader intersection of 0.96 g/t AuEq over 16 metres, in hole TLG-Z87S19-139;
2.53 g/t AuEq over two metres within a broader intersection of 1.14 g/t AuEq over six metres; 2.37 g/t AuEq over two metres within 1.04 g/t AuEq over 10 metres, and 2.26 g/t AuEq over two metres within 1.29 g/t AuEq over four metres in hole TLG-Z87S19-138;
2.40 g/t AuEq over two metres within a broader intersection of 1.11 g/t AuEq over eight metres in hole TLG-Z87S19-134;
2.22 g/t AuEq over two metres within 1.03 g/t AuEq over eight metres, and 1.40 g/t AuEq over six metres in hole TLG-Z87S19-136;
2.21 g/t AuEq over two metres within 0.99 g/t AuEq over eight metres and 2.09 g/t AuEq over two metres within 1.31 g/t AuEq over four metres in hole TLG-Z87S19-142.

Justin Reid, chief executive officer of Troilus, commented: "We are very pleased to see our improved geological understanding of the project's mineral trend being validated by drill results and discoveries. The new area of gold mineralization extending into Z87 South shows continuity from Z87 and remains open to the southwest. Z87 South has now become a major focus for our program and we look forward to providing additional results in due course."

Zone 87 South is located directly adjacent to the main former open pit mine, zone 87. The 2019 drill program in Z87 South was designed to follow up on the positive few holes drilled in this zone last year, while increasing drill resolution and improving the company's evolving geological understanding of the main mineral trend on the property.

Management believes the new results from Z87 South clearly demonstrate a mineral continuity that extends south beyond the limit of Z87. The discovery of this mineralized extension is a result of the company's new understanding of the structural influence on mineralization across the deposit and the regional trend. Based on measurements taken on outcrops and in the mined open-pit walls, the company directed drilling farther to the west with the intention of targeting a mineralized zone that it suspected historic drilling may have missed.

The mineralization at Z87 South is visually comparable with what is seen in the main zone of Z87; however, the geology can be characterized as more felsic (silicic) alteration and is distinctly transitioning into a unit of massive sulphides (primarily pyrite with chalcopyrite) in the footwall, which has never previously been documented. Z87 South has a recognizable base metal signature that is unique to this area. The company believes Z87 South shows the same pinch and swell nature recognized in the main ore zones of Z87 and J zones. Further drilling will add resolution to this area and could potentially define a new broad gold zone.


Hole                  From

TLG-Z87S19-115

incl. and

TLG-Z87S19-133

incl. incl.

TLG-Z87S19-134

incl. incl.

TLG-Z87S19-135

TLG-Z87S19-136

incl. incl.

TLG-Z87S19-137

incl.

TLG-Z87S19-138

incl. incl.

incl. incl.

incl. incl.

TLG-Z87S19-139

incl. incl. TLG-Z87S19-140

incl.

TLG-Z87S19-141

TLG-Z87S19-142

incl.

incl. incl.

* Note drill intervals as true thicknesses

SUMMARY OF DRILL HOLE INTERCEPTS To Interval* Au grade Cu grade AuEq grade (m) (m) (m) (g/t) (%) (g/t) 124 170 46 0.58 0.04 0.63 124 134 10 0.99 0.04 1.05 158 166 8 1.02 0.06 1.10 186 210 24 0.39 0.05 0.47 216 232 16 0.45 0.12 0.64 322 332 10 0.38 0.02 0.41 100 116 16 0.32 0.04 0.38 214 282 68 0.86 0.03 0.90 234 282 48 1.06 0.02 1.10 270 276 6 5.02 0.02 5.06 304 308 4 0.33 0.06 0.41 316 326 10 0.24 0.09 0.38 404 412 8 0.48 0.04 0.54 106 112 6 0.79 0.03 0.84 130 140 10 0.66 0.02 0.70 196 204 8 0.32 0.05 0.40 214 220 6 0.82 0.04 0.88 232 238 6 0.66 0.05 0.75 304 320 16 0.72 0.04 0.78 310 318 8 1.05 0.04 1.11 310 312 2 2.31 0.06 2.40 328 332 4 0.58 0.04 0.63 394 402 8 0.73 0.08 0.85 486 494 8 0.88 0.04 0.94 91 95 4 0.78 0.22 1.11 115 129 14 0.47 0.02 0.50 147 153 6 0.30 0.06 0.39 199 207 8 0.49 0.05 0.57 241 253 12 0.41 0.03 0.45 291 309 18 0.20 0.07 0.30 393 399 6 0.54 0.08 0.66 177 183 6 1.35 0.03 1.40 207 211 4 0.79 0.04 0.85 223 243 20 0.43 0.11 0.60 235 243 8 0.69 0.22 1.03 239 241 2 1.80 0.27 2.22 277 285 8 0.35 0.11 0.53 321 327 6 0.64 0.02 0.67 40 50 10 0.27 0.02 0.29 92 96 4 0.37 0.03 0.41 142 148 6 0.50 0.01 0.51 170 194 24 0.40 0.03 0.44 188 194 6 0.88 0.04 0.95 260 270 10 0.45 0.07 0.55 318 324 6 0.47 0.05 0.55 81 85 4 0.55 0.03 0.59 117 121 4 0.72 0.11 0.88 153 165 12 0.70 0.02 0.74 161 165 4 1.24 0.03 1.29 163 165 2 2.24 0.02 2.26 195 211 16 0.76 0.04 0.82 199 209 10 0.96 0.05 1.04 205 207 2 2.31 0.04 2.37 231 249 18 0.59 0.01 0.60 243 249 6 1.11 0.02 1.14 243 245 2 2.48 0.03 2.53 267 293 26 0.25 0.05 0.33 57 61 4 0.40 0.02 0.43 119 123 4 0.60 0.01 0.61 135 141 6 0.36 0.02 0.40 169 181 12 0.56 0.05 0.64 205 215 10 0.70 0.02 0.74 233 255 22 0.74 0.02 0.76 239 255 16 0.93 0.02 0.96 249 251 2 3.77 0.05 3.85 144 150 6 0.50 0.02 0.53 232 252 20 0.40 0.05 0.49 246 252 6 0.78 0.12 0.97 298 322 24 0.27 0.02 0.31 346 356 10 0.31 0.01 0.33 19 25 6 0.38 0.04 0.44 37 43 6 0.30 0.07 0.41 71 93 22 0.30 0.04 0.36 151 155 4 0.81 0.03 0.86 14 22 8 0.68 0.20 0.99 14 16 2 1.28 0.60 2.21 40 50 10 0.66 0.03 0.71 40 44 4 1.23 0.06 1.31 42 44 2 1.94 0.09 2.09 60 74 14 0.46 0.03 0.51 100 110 10 0.46 0.09 0.61 116 124 8 0.41 0.09 0.55 216 222 6 0.33 0.04 0.40 reported in this news release are downhole core lengths cannot be determined with available information.

Quality control

During the J4 zone drill program, two-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, crosschecks and future reference. A strict quality assurance/quality control program is applied to all samples, which includes insertion of one certified mineralized standard and one blank sample in each batch of 25 samples. The gold analyses were by metallic sieve. A fine crushing 70 per cent less than two millimetres is performed. The sample is divided so that 1.2 to 1.5 kilograms is used for analysis. The sample of 1.2 to 1.5 kg is then 95 per cent pulverized less than 106 mesh. Fifty grams are recovered for ME-ICP61 analysis of 33-element four-acid ICP-AES (inductively coupled plasma atomic emission spectroscopy). 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, MSc, PGeo, 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 restart 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 Frotet-Evans greenstone belt in Quebec, Canada. From 1996 to 2010, Inmet Mining Corp. operated the Troilus project as an open-pit mine, producing more than two million ounces of gold and nearly 70,000 tonnes of copper.

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