Troilus Gold Corp. announced drill results from its high-grade gold-copper-silver Testard target, located approximately 10 kilometres south of the main mineral corridor and former mine site. The Troilus gold-copper project is located within the Company's 142,000 hectares (1,420 km²) land package in northcentral Quebec, Canada, where it holds the largest contiguous mineral claims within the Frôtet-Evans Greenstone Belt.

Troilus acquired the Testard claim area in early 2020 and proceeded with surface mapping and prospecting over the course of that Summer, which returned the highest-grade gold occurrences ever reported in outcrop within the Frotêt-Evans Greenstone Belt. This drilling program aimed to test the potential controls on mineralization in the area, while also testing extensions of the high-grade mineralization below surface at the main showing. The mineralized structures encountered consist of shear-hosted quartz-tourmaline-carbonate veins contained within a sericite-silica-carbonate altered tonalite.

The best gold and silver values were obtained from veins that contain disseminated, to up to 20% pyrite, with locally trace chalcopyrite and molybdenite. Different vein textures have been observed in core including laminated, extensional and breccia-type veins. Further drilling is needed to better constrain the Azimuth and dip of the different mineralized trends.

The Testard claims were staked in 2020 following the discovery of the Southwest Zone, 2.5 kilometres away from the formerly mined pits (Zones Z87 and J Zone). Over the course of two years, Troilus increased its land position nearly 9-fold from 16,000 hectares to 142,000 ha (1,420 km²), driven by increasing evidence that the known Troilus deposits were part of a larger, regional scale gold system. The initial work program completed at Testard in the Summer of 2020, including outcrop stripping, bedrock mapping and boulder tracing, returned the highest-grade gold occurrences on Troilus' property to date, and the highest ever reported in outcrop within the Frotêt-Evans Greenstone Belt.

Furthermore, the results demonstrated that the geological characteristics of the Testard Zone and host rock share many similarities to the main mineral resource zones, which hosts estimated mineral resources of 4.96 Moz AuEq Indicated (177 Mt grading 0.87 g/t AuEq) and 3.15 Moz AuEq Inferred (116.7 Mt grading 0.84 g/t AuEq). Testard has been a priority regional target on which extensive work has been completed over the last 18 months, including geological sampling and mapping of lithology and structure, detailed airborne magnetics and an induced polarization survey. The results of this work enabled Troilus' geology team to develop a structural interpretation of mineralization at Testard; that being a NE-SW structure parallel to the main Troilus deposit, with east-west cross cutting shearing and quartz vein sets identified as potential physical traps for high grade mineralization.

Detailed airborne magnetic data clearly outlines a main contact zone between the more magnetic ultramafic and the less magnetic tonalite units. The contact zone was observed in the field to be intensely sheared, and therefore a potential prospective pathway for mineralization. The use of magnetics and induced polarization (IP) data together allowed for additional east-west structural interpretations of the Testard area, which appear to cross-cut the main shear zone.

Results from Troilus' maiden drill program announced confirm gold bearing structures exist in proximity to the main NE-SW shear/contact zone, specifically with holes TES-21-001 and TES-21-002, which intersected gold-rich quartz veins 400 metres northwest of the main showing at the intersection of interpreted east-west structural features and the NE-SW trending shear zone. Assessment of the results obtained from the drilling program is underway, one of the main goals being to develop models for the orientation of gold-bearing veins. An additional drilling program will be developed to build out from the successes of this initial program.