- Above average high-grade gold-bearing highlights include:
- 3.65 g/t AuEq over 9m, incl. 5.32 g/t AuEq over 6m, 14.63 g/t AuEq over 1m and 6.15 g/t AuEq over 1m
- 1.62 g/t AuEq over 9m, incl. 3.81 g/t AuEq over 3m and 5.87 g/t AuEq over 1m
- 1.18 g/t AuEq over 15m, incl. 2.54 g/t AuEq over 1m, 2.46 g/t AuEq over 2m, 1.67 g/t AuEq over 5m and 2.61 g/t AuEq over 2m
- Mineralization observed in the
Southwest Zone has been extended along strike by a further +25%, from 825m to +1km inMain Zone ;West Zone extended by +100m and identified mineralization remains open - Northeast trending mineral continuity intersected over widths of +650 metres; potential new gold zone identified to the Southeast of the
Main Zone with above average gold-bearing intervals - Down dip gold-bearing zones expanded to depths over 500 metres below pit shell proposed in the Preliminary Economic Assessment (“PEA”) (See press release dated
August 31, 2020 ) and remain open - Nearly all intersections reported herein were located outside of the PEA pit shell
(See Table 1)
“We are very excited by these latest results obtained from the north east extent of the
Additional Highlights & Assessment of Results:
All intersections encountered in holes ZSW20-214 and ZSW20-220 (section N10000, Figure 4) are located outside of the PEA pit shell. ZSW20-214 has extended the known gold bearing zone on strike by 200m NE of the PEA pit shell, and has widened it by more than 650m to the SE. 30m of +1.0g/t AuEq was intersected within 200m from surface, mineralization extends down dip up to 300m and remains open. Highlights include:
- 1.18 g/t AuEq over 15m, incl. 2.54 g/t AuEq over 1m, 2.46 g/t AuEq over 2m, 1.67 g/t AuEq over 5m and 2.61 g/t AuEq over 2m
- 1.91 g/t AuEq over 2m and 1.51 g/t AuEq over 3m
- 1.01 g/t and AuEq over 15m, incl. 3.10 g/t AuEq over 1m and 1.84 g/t over 3m
- 14.90 g/t AuEq over 1m
- 2.93 g/t AuEq over 1m
- 2.83 g/t AuEq over 1m
ZSW20-213 and ZSW20-210 (section N9900, Figure 5) confirmed higher grade extensions in a previously undrilled area of the PEA pit shell and identified down dip extensions ~300m below the PEA pit shell and remains open at depth and down dip of the ore trend. Intercept highlights include:
- 3.65 g/t AuEq over 9m, incl. 5.32 g/t AuEq over 6m, 14.63 g/t AuEq over 1m and 6.15 g/t AuEq over 1m
- 1.62 g/t AuEq over 9m, incl. 3.81 g/t AuEq over 3m and 5.87 g/t AuEq over 1m
- 0.95 g/t AuEq over 11m, incl. 1.14 g/t AuEq over 6m
ZSW20-171 was drilled 100m North of the PEA pit shell and intersected mineralization within 100m from surface. Intercept highlight includes:
- 3.33 g/t AuEq over 3m, incl. 3.46 g/t over 1m and 5.57 g/t over 1m
This
Figure 1: Location of New Drill Hole Results in the
https://www.globenewswire.com/NewsRoom/AttachmentNg/b270ccc9-6742-4db4-8f4d-15bf6266e3ad
Figure 2: 3D Model of Troilus Mineral Zones and PEA
https://www.globenewswire.com/NewsRoom/AttachmentNg/2eef27e5-9922-40fc-9485-693b229e64f6
Figure 3: Southwest Zone PEA
https://www.globenewswire.com/NewsRoom/AttachmentNg/071a24e9-2ad6-4e7c-9e51-dc11f90dfe08
Figure 4: Section N10000; View of drill holes TLG-ZSW20-220 and TLG-ZSW20-214
https://www.globenewswire.com/NewsRoom/AttachmentNg/e710e2a3-3c0a-4eac-b749-e4da40096323
Figure 5: Section N9900; View of drill holes TLG-ZSW20-210 and TLG-ZSW20-213
https://www.globenewswire.com/NewsRoom/AttachmentNg/e0ac7380-9ee0-42b9-9963-da5f2494a948
Table 1: New Southwest Zone Drill Results Highlights
Hole | From (m) | To (m) | Interval (m) | Inside/Outside of PEA | Cu Grade (%) | AuEq Grade (g/t) | ||
TLG-ZSW20-171 | ||||||||
71 | 72 | 1 | Outside | 1.03 | 0.005 | 0.25 | 1.03 | |
130 | 131 | 1 | Outside | 1.34 | 0.042 | 6.10 | 1.46 | |
273 | 276 | 3 | Outside | 3.29 | 0.009 | 2.22 | 3.33 | |
incl. | 273 | 274 | 1 | Outside | 3.40 | 0.013 | 4.60 | 3.46 |
incl. | 274 | 275 | 1 | Outside | 5.54 | 0.012 | 1.80 | 5.57 |
TLG-ZSW20-210 | ||||||||
23 | 24 | 1 | Inside | 1.12 | 0.002 | 1.60 | 1.13 | |
61 | 72 | 11 | Inside | 0.97 | 0.002 | 0.29 | 0.98 | |
86 | 95 | 9 | Inside | 1.61 | 0.002 | 0.25 | 1.62 | |
incl. | 86 | 89 | 3 | Inside | 3.80 | 0.002 | 0.25 | 3.81 |
incl. | 86 | 87 | 1 | Inside | 5.87 | 0.002 | 0.25 | 5.87 |
283 | 284 | 1 | Outside | 0.98 | 0.049 | 1.40 | 1.05 | |
466 | 467 | 1 | Outside | 2.06 | 0.023 | 0.25 | 2.09 | |
474 | 485 | 11 | Outside | 0.73 | 0.154 | 2.72 | 0.95 | |
incl. | 474 | 475 | 1 | Outside | 0.82 | 0.148 | 6.50 | 1.07 |
incl. | 478 | 484 | 6 | Outside | 0.87 | 0.187 | 2.83 | 1.14 |
TLG-ZSW20-213 | ||||||||
48 | 49 | 1 | Outside | 1.18 | 0.044 | 0.25 | 1.23 | |
110 | 111 | 1 | Outside | 1.75 | 0.004 | 0.25 | 1.76 | |
158 | 167.15 | 9 | Outside | 3.64 | 0.004 | 0.45 | 3.65 | |
incl. | 159 | 165 | 6 | Outside | 5.31 | 0.004 | 0.56 | 5.32 |
incl. | 161 | 161.75 | 1 | Outside | 14.60 | 0.002 | 2.70 | 14.63 |
incl. | 164 | 165 | 1 | Outside | 6.14 | 0.002 | 0.25 | 6.15 |
403 | 404 | 1 | Outside | 1.37 | 0.035 | 14.70 | 1.57 | |
411 | 412 | 1 | Outside | 1.30 | 0.005 | 0.25 | 1.30 | |
TLG-ZSW20-214 | ||||||||
8 | 9 | 1 | Outside | 1.17 | 0.000 | 0.03 | 1.17 | |
85 | 87 | 2 | Outside | 1.90 | 0.011 | 0.03 | 1.91 | |
94 | 97 | 3 | Outside | 1.51 | 0.002 | 0.03 | 1.51 | |
100 | 101 | 1 | Outside | 1.23 | 0.001 | 0.03 | 1.23 | |
162.75 | 167 | 4.3 | Outside | 0.76 | 0.079 | 0.81 | 0.87 | |
incl. | 166 | 167 | 1 | Outside | 1.13 | 0.196 | 2.90 | 1.41 |
172 | 173 | 1 | Outside | 1.29 | 0.054 | 0.03 | 1.36 | |
193 | 208 | 15 | Outside | 0.93 | 0.052 | 0.63 | 1.01 | |
incl. | 196 | 197 | 1 | Outside | 3.07 | 0.016 | 0.60 | 3.10 |
incl. | 204 | 207 | 3 | Outside | 1.76 | 0.052 | 1.70 | 1.84 |
257 | 272 | 15 | Outside | 1.15 | 0.016 | 0.17 | 1.18 | |
incl. | 257 | 258 | 1 | Outside | 2.53 | 0.006 | 0.03 | 2.54 |
incl. | 261 | 263 | 2 | Outside | 2.43 | 0.022 | 0.03 | 2.46 |
incl. | 267 | 272 | 5 | Outside | 1.65 | 0.012 | 0.28 | 1.67 |
incl. | 270 | 272 | 2 | Outside | 2.59 | 0.015 | 0.36 | 2.61 |
304 | 305 | 1 | Outside | 1.00 | 0.012 | 0.03 | 1.01 | |
325.9 | 327 | 1.1 | Outside | 1.02 | 0.015 | 1.00 | 1.05 | |
335 | 336 | 1 | Outside | 1.26 | 0.014 | 0.03 | 1.28 | |
350 | 351 | 1 | Outside | 1.82 | 0.012 | 0.03 | 1.83 | |
383 | 387 | 4 | Outside | 0.86 | 0.011 | 0.03 | 0.88 | |
incl. | 386 | 387 | 1 | Outside | 1.38 | 0.008 | 0.03 | 1.39 |
412 | 413 | 1 | Outside | 1.04 | 0.023 | 1.10 | 1.08 |
TLG-ZSW20-220 | ||||||||
36 | 38 | 2 | Outside | 0.88 | 0.006 | 0.03 | 0.89 | |
incl. | 36 | 37 | 1 | Outside | 1.01 | 0.010 | 0.03 | 1.02 |
46 | 47 | 1 | Outside | 0.88 | 0.028 | 0.60 | 0.92 | |
110 | 111 | 1 | Outside | 14.90 | 0.002 | 0.03 | 14.90 | |
142 | 143 | 1 | Outside | 2.82 | 0.005 | 0.03 | 2.83 | |
147 | 148 | 1 | Outside | 0.88 | 0.003 | 2.60 | 0.91 | |
180 | 181 | 1 | Outside | 1.47 | 0.001 | 0.03 | 1.47 | |
220 | 221 | 1 | Outside | 1.52 | 0.008 | 0.03 | 1.53 | |
390 | 391 | 1 | Outside | 0.64 | 0.236 | 8.10 | 1.03 | |
408 | 409 | 1 | Outside | 1.15 | 0.009 | 0.03 | 1.16 | |
573 | 574 | 1 | Outside | 1.20 | 0.003 | 0.03 | 1.20 | |
584 | 585 | 1 | Outside | 1.11 | 0.007 | 0.70 | 1.13 | |
593 | 594 | 1 | Outside | 2.92 | 0.010 | 0.03 | 2.93 |
*Note drill intervals reported in this news release are down-hole core lengths as true thicknesses cannot be determined with available information.
Quality Assurance and Control
During the
Qualified Person
The technical and scientific information in this press release has been reviewed and approved by
About
Troilus is a
For more information:
VP Corporate Communications
+1 (647) 407-7123
info@troilusgold.com
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
Location of New Drill Hole Results in the Southwest Zone
Figure 2
3D Model of Troilus Mineral Zones and PEA Pit Shells
Figure 3
Southwest Zone PEA Pit Shell and New Drill Results – Facing South East
Figure 4
Section N10000; View of drill holes TLG-ZSW20-220 and TLG-ZSW20-214
Figure 5
Section N9900; View of drill holes TLG-ZSW20-210 and TLG-ZSW20-213
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