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Troilus Gold Corp
Symbol TLG
Shares Issued 62,060,578
Close 2019-08-19 C$ 0.70
Recent Sedar Documents

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.

                           SUMMARY OF DRILL HOLE INTERCEPTS
  
Hole                  From       To   Interval*    Au grade   Cu grade   AuEq grade
                       (m)      (m)         (m)       (g/t)        (%)        (g/t)
TLG-Z87S19-115
                       124      170          46        0.58       0.04         0.63
incl.                  124      134          10        0.99       0.04         1.05
and                    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
TLG-Z87S19-133
                       100      116          16        0.32       0.04         0.38
                       214      282          68        0.86       0.03         0.90
incl.                  234      282          48        1.06       0.02         1.10
incl.                  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
TLG-Z87S19-134
                       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
incl.                  310      318           8        1.05       0.04         1.11
incl.                  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
TLG-Z87S19-135
                        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
TLG-Z87S19-136
                       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
incl.                  235      243           8        0.69       0.22         1.03
incl.                  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
TLG-Z87S19-137
                        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
incl.                  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
TLG-Z87S19-138
                        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
incl.                  161      165           4        1.24       0.03         1.29
incl.                  163      165           2        2.24       0.02         2.26
                       195      211          16        0.76       0.04         0.82
incl.                  199      209          10        0.96       0.05         1.04
incl.                  205      207           2        2.31       0.04         2.37
                       231      249          18        0.59       0.01         0.60
incl.                  243      249           6        1.11       0.02         1.14
incl.                  243      245           2        2.48       0.03         2.53
                       267      293          26        0.25       0.05         0.33
TLG-Z87S19-139
                        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
incl.                  239      255          16        0.93       0.02         0.96
incl.                  249      251           2        3.77       0.05         3.85
TLG-Z87S19-140
                       144      150           6        0.50       0.02         0.53
                       232      252          20        0.40       0.05         0.49
incl.                  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
TLG-Z87S19-141
                        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
TLG-Z87S19-142
                        14       22           8        0.68       0.20         0.99
incl.                   14       16           2        1.28       0.60         2.21
                        40       50          10        0.66       0.03         0.71
incl.                   40       44           4        1.23       0.06         1.31
incl.                   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
    
* Note drill intervals reported in this news release are downhole core lengths 
as true thicknesses 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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