Highlights from the new
- ZJ21-244 and ZJ21-245 confirms west trend and main zone at depth, and increases drill density within the PEA pit shell which is expected to help upgrade Inferred to Indicated mineral resources in upcoming new estimate (see Figure 2 cross section). Highlights include:
- 2.10 g/t AuEq over 31 metres, incl. 4.40 g/t AuEq over 12 metres and 27.05 g/t AuEq over 1 metre
- ZJ21-247, ZJ21-250, ZJ21-251 and ZJ21-252 extend mineralization down dip up to 50 metres, primarily within the PEA pit shell. Highlights include:
- 1.70 g/t AuEq over 16 metres, incl. 4.16 g/t AuEq over 5 metres and 14.73 g/t AuEq over 1 metre
- 1.10 g/t AuEq over 18 metres, incl. 1.60 g/t AuEq over 9 metres
- 2.29 g/t AuEq over 4 metres
“We’re pleased with the continued excellent results from the western extension of the
Figure 1: Plan View Map of
Figure 2:
Table 1: New J Zone Drill Results
Hole | From (m) | To (m) | Interval (m) | Inside/Outside of Shell | (g/t) | Cu Grade (%) | (g/t) | AuEq Grade (g/t) | ||||
TLG-ZJ21-244 | ||||||||||||
82 | 110 | 28 | Inside | 0.76 | 0.07 | 1.42 | 0.87 | |||||
including | 86.75 | 103 | 16.25 | Inside | 1.03 | 0.09 | 1.88 | 1.16 | ||||
and | 102 | 103 | 1 | Inside | 8.10 | 0.04 | 2.00 | 8.17 | ||||
142 | 142.6 | 0.6 | Inside | 0.83 | 0.20 | 2.00 | 1.12 | |||||
250 | 252 | 2 | Inside | 1.01 | 0.10 | 1.05 | 1.16 | |||||
280 | 311 | 31 | Inside | 2.04 | 0.04 | 0.44 | 2.10 | |||||
including | 299 | 311 | 12 | Inside | 4.35 | 0.04 | 0.49 | 4.40 | ||||
and | 309 | 310 | 1 | Inside | 27.00 | 0.03 | 1.00 | 27.05 | ||||
340 | 341 | 1 | Outside | 1.20 | 0.13 | 1.90 | 1.39 | |||||
TLG-ZJ21-245 | ||||||||||||
97 | 106 | 9 | Inside | 0.82 | 0.02 | 0.28 | 0.84 | |||||
including | 97 | 98 | 1 | Inside | 4.22 | 0.01 | 0.25 | 4.23 | ||||
123 | 151 | 28 | Inside | 0.38 | 0.07 | 1.29 | 0.49 | |||||
including | 127 | 138 | 11 | Inside | 0.50 | 0.08 | 1.70 | 0.62 | ||||
and | 127 | 128 | 1 | Inside | 1.12 | 0.08 | 2.00 | 1.24 | ||||
and | 137 | 138 | 1 | Inside | 1.18 | 0.07 | 1.10 | 1.27 | ||||
TLG-ZJ21-247 | ||||||||||||
140 | 158 | 18 | Inside | 0.98 | 0.07 | 1.94 | 1.10 | |||||
including | 142 | 151 | 9 | Inside | 1.45 | 0.10 | 2.41 | 1.60 | ||||
and | 150 | 151 | 1 | Inside | 9.08 | 0.06 | 2.50 | 9.19 | ||||
207 | 208 | 1 | Outside | 0.74 | 0.25 | 3.80 | 1.10 | |||||
217 | 218 | 1 | Outside | 4.89 | 0.01 | 0.25 | 4.91 | |||||
TLG-ZJ21-250 | ||||||||||||
119 | 125 | 6 | Inside | 1.12 | 0.03 | 0.52 | 1.17 | |||||
including | 121 | 124 | 3 | Inside | 1.74 | 0.03 | 0.67 | 1.79 | ||||
154 | 166 | 12 | Inside | 1.04 | 0.05 | 1.81 | 1.12 | |||||
including | 159 | 165 | 6 | Inside | 1.43 | 0.05 | 1.69 | 1.51 | ||||
177 | 178 | 1 | Inside | 1.69 | 0.04 | 1.00 | 1.75 | |||||
TLG-ZJ21-251 | ||||||||||||
138 | 154 | 16 | Inside | 1.63 | 0.05 | 1.01 | 1.70 | |||||
including | 148 | 153 | 5 | Inside | 4.07 | 0.06 | 1.14 | 4.16 | ||||
and | 148 | 149 | 1 | Inside | 14.65 | 0.05 | 1.50 | 14.73 | ||||
174 | 178 | 4 | Inside | 2.14 | 0.10 | 2.16 | 2.29 | |||||
including | 175 | 176 | 1 | Inside | 6.31 | 0.13 | 4.00 | 6.53 | ||||
197 | 198 | 1 | Inside | 0.86 | 0.12 | 1.60 | 1.04 | |||||
213 | 214 | 1 | Outside | 1.58 | 0.06 | 1.10 | 1.67 | |||||
TLG-ZJ21-252 | ||||||||||||
129 | 130 | 1 | Inside | 1.42 | 0.04 | 0.25 | 1.47 | |||||
160 | 176 | 16 | Inside | 0.74 | 0.03 | 0.92 | 0.79 | |||||
including | 165 | 167 | 2 | Inside | 1.03 | 0.03 | 1.25 | 1.08 | ||||
and | 171 | 175 | 4 | Inside | 1.24 | 0.03 | 1.05 | 1.29 |
*Note drill intervals reported in this news release are down-hole core lengths as true thicknesses cannot be determined with available information.
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Cautionary Note Regarding Forward-Looking Statements and Information
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability; the estimate of Mineral Resources in the updated Mineral Resource statement may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. There is no certainty that the Indicated Mineral Resources will be converted to the Probable Mineral Reserve category, and there is no certainty that the updated Mineral Resource statement will be realized.
The PEA is preliminary in nature, includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The PEA is subject to a number of risks and uncertainties. See below and the Company’s latest technical report available on SEDAR for more information with respect to the key assumptions, parameters, methods and risks of determination associated with the foregoing.
This press release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding the impact of the ongoing drill program and results on the Company, the possible economics of the project and the Company’s understanding of the project; the development potential and timetable of the project; the estimation of mineral resources; realization of mineral resource estimates; the timing and amount of estimated future exploration; the anticipated results of the Company’s ongoing 2021 drill program and their possible impact on the potential size of the mineral resource estimate; costs of future activities; capital and operating expenditures; success of exploration activities; the anticipated ability of investors to continue benefiting from the Company’s low discovery costs, technical expertise and support from local communities. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “continue”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “will”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are made based upon certain assumptions and other important facts that, if untrue, could cause the actual results, performances or achievements of Troilus to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Troilus will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, currency fluctuations, the global economic climate, dilution, share price volatility and competition. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Troilus to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: there being no assurance that the exploration program will result in expanded mineral resources; risks and uncertainties inherent to mineral resource estimates; the impact the COVID 19 pandemic may have on the Company’s activities (including without limitation on its employees and suppliers) and the economy in general; the impact of the recovery post COVID 19 pandemic and its impact on gold and other metals; the receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages; environmental and other risks of the mining industry, including without limitation, risks and uncertainties discussed in the most recent Technical Report and in other continuous disclosure documents of the Company available under the Company’s profile at www.sedar.com. Although Troilus has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Troilus does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
Figure 1
Plan View Map of J Zone with Location of New Drill Results
Figure 2
J Zone , Section N15075; View of drill holes TLG-ZJ21-244 and TLG-ZJ21-245
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