New High Grade Outcrop and Channel Samples Confirm Testard
Highlights from the expanded Testard
- Additional surface sampling confirms the high grade gold and silver content of the
Testard Zone with outcrop samples returning 82 g/t, 40 g/t and 20 g/t gold and 1,060 g/t, 260 g/t and 263 g/t silver. - Channel sample highlights include:
- 19.5 g/t Au over 0.5m (Channel 20-095)
- 12.2 g/t Au over 1.3m (Channel 20-089)
- 5.3 g/t Au over 2.1m (
Channel 20 -087)
- High potential to find additional sub-parallel mineralized quartz veins at Testard
Alex Discovery Extends Beyan
New outcrop and channel samples have expanded the footprint of the recently announced
Highlights from the Beyan Gold Zone extension:
- Significantly expanded the potential footprint of the Beyan Discovery with outcrop sample returning up to 12 g/t gold, located 600m North of main discovery
- Alex Showing suggests strong potential for additional parallel and sub parallel high grade zones
- Soil sampling shows a distinct trend from the
Southwest Zone to the new Beyan discoveries - Gold anomalies in the Beyan area can now be observed over an expanded area of 6 km x 1.2 km
“These continued positive results from our regional exploration efforts this year, along with the recent discoveries in close proximity to our land package, are starting to confirm the tremendous potential of the Frôtet
The regional exploration program launched in Summer 2020 focused on identifying high priority targets within the new land package that Troilus acquired and staked earlier in the year (see press releases dated
New Regional Exploration Activities Following Recent New Discoveries
Following the success of the Summer field work, Troilus contracted SL Exploration to cover the entire
Airborne Magnetics
The 23,000 line-kilometre helicopter-assisted magnetic survey, with 50 metre spacing between lines and at 30 metres from the ground surface, was designed to cover all of Troilus’ new mining titles, including areas where limited information was available (See Figure 1). The Company expects this data to help delineate stratigraphic boundaries and structural trends in preparation for more advanced exploration work. In the main
An induced polarization (“IP“) survey has also been conducted on selected areas of the Troilus property, including the main portion of the
20,000 Drilling Program Update
The 20,000 drilling program announced on
Initial assay results are expected before the end of the year and Troilus expects to continue exploration efforts, including drilling, throughout 2021.
Figure 1 – Plan View of Troilus Property Showing Recent Discoveries and Areas Covered by Surveys
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Figure 2 – Location of New Outcrop and Channel Samples in the Testard Zone
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Figure 3 – Aerial Photo Showing Alex Showing and Beyan
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Figure 4 – Alex Showing (12 g/t from outcrop), Located 600 metres from Beyan Discovery
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Table 1 – Alex Showing (chip) and Beyan Zone Surface Sample Results (channel)
Sample | Au g/t | Ag g/t | Zn % | Length (m) |
Chip | 12.2 | 20.5 | 0.0 | - |
Chip | 0.4 | 0.0 | - | |
Chip | 0.3 | 0.7 | 0.0 | - |
Chip | 0.3 | 0.0 | - | |
0.5 | 20.0 | 0.8 | 0.8 | |
1.1 | 9.0 | 0.4 | 1.0 | |
0.2 | 78.0 | 0.7 | 0.5 | |
2.1 | 1.0 | 0.0 | 0.5 | |
1.8 | 0.0 | 0.5 | ||
0.5 | 4.0 | 0.1 | 1.0 | |
0.4 | 0.0 | 6.6 | ||
Including | 1.0 | 0.2 | 0.1 | 2.0 |
Table 2 – Testard Gold Zone Surface Sample Results (Grab from Geologica and channel)
Sample | Au g/t | Ag g/t | Length (m) |
Chip V437857 | 82 | 1060 | - |
Chip V437858 | 40 | 260 | - |
Chip V437859 | 20 | 263 | - |
0.2 | - | 2.9 | |
Including | 0.9 | - | 0.8 |
0.5 | - | 3.1 | |
Including | 2.5 | - | 0.5 |
2.7 | - | 3.5 | |
Including | 5.3 | - | 2.1 |
0.9 | - | 4.5 | |
Including | 2.1 | - | 1.8 |
3.5 | - | 4.6 | |
Including | 12.2 | - | 1.3 |
0.5 | - | 3.5 | |
Including | 2.4 | - | 0.8 |
0.6 | - | 1.5 | |
Including | 0.6 | - | 1.5 |
0.9 | - | 0.7 | |
Including | 0.9 | - | 0.7 |
0.2 | - | 3.0 | |
Including | 1.1 | - | 0.5 |
0.6 | - | 2.4 | |
Including | 1.6 | - | 1.1 |
1.3 | - | 1.1 | |
Including | 2.6 | - | 0.6 |
5.4 | - | 2.0 | |
Including | 19.5 | - | 0.5 |
5.4 | 2.0 | 5.4 | |
Including | 19.5 | 0.5 | 19.5 |
Quality Assurance and Control
All outcrop samples were collected by hand and were located by hand-held GPS, bagged and sealed, and sent for assaying at
Qualified Person
All technical and scientific information, in this press release has been reviewed and approved by
About
Troilus is a
For more information:
Chief Executive Officer
+1 (647) 276-0050 x 1305
Justin.reid@troilusgold.com
President
+1 (416) 602-1050
paul.pint@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.
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 planned drill program and results on the Company, the possible economics of the project, 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 2020 drill program and their possible impact on the potential size of the mineral resource estimate; the impact of the novel coronavirus (COVID-19) and the considerable uncertainties about the geographic, social and economic impact on the Company of its continuing global spread 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: 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; there being no assurance that the exploration program or programs of the Company will result in expanded mineral resources; risks and uncertainties inherent to mineral resource estimates; the high degree of uncertainties inherent to preliminary economic assessments and other mining and economic studies which are based to a significant extent on various assumptions; variations in gold prices and other precious metals, exchange rate fluctuations; variations in cost of supplies and labour; receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future gold and other metal prices; accidents, labour disputes and shortages; environmental and other risks of the mining industry, including without limitation, risks and uncertainties discussed in the Technical Report to be filed 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 of Troilus Property Showing Recent Discoveries and Areas Covered by Surveys
Figure 2
Location of New Outcrop and Channel Samples in the Testard Zone
Figure 3
Aerial Photo Showing Alex Showing and Beyan Gold Zone in proximity to Southwest Zone
Figure 4
Alex Showing (12 g/t from outcrop), Located 600 metres from Beyan Discovery
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