Troilus drills 19.88 g/t AuEq over 7 metres at Troilus project, Quebec

Troilus Gold Corp. [TLG-TSX; CHXMF-OTCQX; CM5R-FSE] reported assay results from the X22 zone at its Troilus project, located in north-central Quebec, Canada. The results herein are part of a completed 7,800-metre drill campaign focused on defining and expanding the X22 body of mineralization, a new high-grade gold zone extending from the formerly mined Z87 pit, which was identified in late 2022. The program has been successful in identifying continuous mineralization over a strike length of 1 km. While the initial delineation drill program at X22 is complete, over 2,300 metres of assays are pending and will be reported as they become available.

The results herein demonstrate further mineral continuity within previously discovered high-grade zones along the X22 mineralized corridor. With the exception of a few shallow intercepts in hole X22-23-006, all results reported lie entirely outside of the PEA pit shells and the intention is for them to be included in the upcoming Feasibility Study.

Zone X22 drill intercept highlights include 130.83 g/t AuEq (gold equivalent) over 1 metre within a broader intersection of 19.88 g/t AuEq over 7 metres, as well as 11.62 g/t AuEq over 1 metre and 5.16 g/t AuEq over 1 metre, 50 metre from surface in hole X22-23-030, intersecting up-dip mineralization by 100 metres from previously reported hole X22-23-027, which intersected 2.72 g/t AuEq over 34 metres, including 10.83 g/t AuEq over 6 metres and 4.14 g/t AuEq over 3 metres.

Hole X22-23-015 confirmed 50 metres of up-dip mineralization with at-surface intersections of 1.44 g/t AuEq over 4 metres (33- 37m downhole) and 1.01 g/t AuEq over 24 metres within a broader intersection of 0.75 g/t AuEq over 46 metres, demonstrating mineral continuity from previously reported hole X22-22-002 which intersected 0.77 g/t AuEq over 50 metres, including 2.42 g/t AuEq over 9 metres.

Hole X22-23-006 was extended to Z87 at depth and intersected 2.05 g/t AuEq over 20.55 metres, below the PEA pit shell, and also drilled 3.33 g/t AuEq over 6.55 metres, defining a previously unmodelled hanging wall zone that lies just below the PEA pit shell.

Justin Reid, CEO, commented: “We are very pleased to see the continued positive results from X22, demonstrating a consistent pattern of significantly higher-grade zones across the entire strike length. Our understanding of this new deposit and its impact on the upcoming Feasibility Study is improving and we look forward to reporting the remaining results from this initial drill program in the coming weeks.”

Drill hole X22-23-030 intersected 0.76 g/t AuEq over 6 metres at surface (15-21m downhole), exceptional high grades of 130.83 g/t AuEq over 1 metre within a broader intersection of 19.88 g/t AuEq over 7 metres as well as 0.86 g/t AuEq over 15 metres, including 1.03 g/t AuEq over 7 metres, 11.62 g/t AuEq over 1 metre and 5.16 g/t AuEq over 1 metres 50 metres from surface. Hole X22-23-030 confirmed high-grade mineralization 100 metres up-dip beyond hole X22-23-027, which returned strong intercepts 2.72 g/t AuEq over 34 metres, including 4.14 g/t AuEq over 3 metres and 10.83 g/t AuEq over 6 metres and remains open at depth.

Drill hole X22-23-015 intersected 1.44 g/t AuEq over 4 metres at surface, as well as 1.01 g/t AuEq over 24 metres within a broader intersection of 0.75 g/t AuEq over 46 metres and confirmed mineralization up-dip by 50 metres from previously drilled hole X22-22-002 reported on February 16th, 2023, which intersected 0.77 g/t AuEq over 50 metres, including 2.42 g/t AuEq over 9 metres.

Hole X22-23-015 also confirms mineral continuity over 100 metres as previously reported hole X22-23-014 intersected 0.77 g/t AuEq over 12 metres and 1.37 g/t AuEq over 12 metres within a broader intersection of 0.72 g/t AuEq over 42 metres, 50 metres down-dip beyond hole X22-22-002. This zone of mineralization remains open at depth. Troilus Gold is a Canadian-based junior mining company focused on the systematic advancement and de-risking of the former gold and copper Troilus Mine towards production. From 1996 to 2010, the Troilus Mine produced +2 million ounces of gold and nearly 70,000 tonnes of copper.

The company is advancing engineering studies following the completion of a robust PEA in 2020, which demonstrated the potential for the Troilus project to become a top-ranked gold and copper producing asset in Canada.