Troilus Gold drills 10.78 g/t gold over 7 metres at Troilus project, Quebec

Troilus Gold Corp. [TLG-TSX; CHXMF-OTCQX; CM5-FSE] reported drill results from one of its prospective regional exploration targets, Cressida, at its Troilus property, located within the Frotet-Evans greenstone belt in north-central Quebec, Canada.

The Cressida target is located approximately 10 km southwest of the main mineral corridor and former Troilus mine site along strike, and approximately 2 km southwest of the Beyan Gold Zone exploration target, both of which are accessible from the project’s main access road.

The Cressida target, which is under a 50/50 joint venture with Argonaut Gold Inc. [AR-TSX; PNXLF-OTC; OAY3-FSE], was inherited through the acquisition of UrbanGold Minerals Inc. in 2021. As part of its 2021 and 2022 summer regional exploration programs, Troilus completed a 6,500-metre drilling program at Cressida to follow-up on 1,950 metres of historical drill results with the aim to better define and expand the known body of mineralization, which previously spanned a 400-metre strike length. The drill results reported today have increased the continuity of mineralization more than 3-fold to 1.3 km and remains open to further expansion both to the northeast and southwest, as well as at depth.

Cressida drilling highlights: 10.68 g/t gold over 7 metres, including 66.8 g/t gold over 1 metre in hole CRS-032 represents the best intercept reported to date in terms of linear grade at Cressida; 1.64 g/t gold over 16 metres, including 3.65 g/t gold over 6 metres in hole CRS-006, located 30 metres from surface; and 8.16 g/t gold over 1 metres within a broader interval of 1.23 g/t gold over 15 metres in hole CRS-011.

Justin Reid, CEO, commented: “We are very excited by these high-grade results over significant widths, located on trend with the Troilus Project. The footprint of Cressida has significantly increased with this drill program, and we are very optimistic about the growth potential of this zone as our understanding of the geology and controls of mineralization continues to improve. We are currently preparing an expanded drill program for the upcoming Summer regional exploration program to follow-up on these excellent results and believe we can continue to demonstrate that the Troilus deposit at the former mine site exists within a broader district-scale gold system.”

Cressida is located approximately 10 km along strike to the southwest of the main mineral corridor and former Troilus mine. Gold mineralization at this target is hosted within a highly-sheared and altered sulfide-rich volcaniclastic horizon, at the same stratigraphic level as the main Troilus deposit, which produces a well-defined IP chargeability anomaly.

Historical drilling at Cressida previously intersected gold mineralization over significant widths and near surface, including 1.6 g/t gold over 34 metres (Hole 88-TN-08) and 1.0 g/t gold over 44 metres (Hole 88-TN-07) and was validated with UGM’s maiden drill program which intersected 1.02 g/t gold over 22 metres (Hole UTC-19-03).

A total of 6,500 metres were drilled at Cressida with a focus on expanding the known mineralized trend and validating historical drill results. A sub-vertical high-grade plunge was identified during the planning phase, which is believed to be controlled by a stretching lineation, similar to the Troilus deposit.

Hole CRS-032 targeted the down-plunge extent of this trend and returned high-grades of 10.68 g/t gold over 7.0 metres, including 66.80 g/t gold over 1 metres at 380 metres down-hole and approximately 280 metres from surface; which is the best intercept in the history of the Cressida project in terms of linear grade.

The latest drill results from Cressida have confirmed gold mineralization along a 1.3-km trend; a 900-metre increase from the 400-metre footprint it inherited. As a result of the high-grades and robust thicknesses encountered at Cressida, further drilling is planned to continue defining and expanding this zone, making it a high-priority target as the Company prepares for the upcoming 2023 Summer regional exploration program.

Troilus Gold is focused on the 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.