Troilus Gold drills 13.64 g/t AuEq over 3 metres at Troilus, Quebec

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Troilus Gold Corp. [TLG-TSX; CHXMF-OTCQX] reported additional assay results from the southwest zone at its 100%-owned Troilus project in north-central Quebec. The Southwest Zone is located approximately 2.5 km from the formerly mined open pits.

It was initially discovered and drilled in late 2019 and has quickly evolved into the most significant growth target on its property. The intercepts reported today are largely located outside of the pit shell modelled in the Preliminary Economic Assessment. Results are a combination of infill drill holes, focused on increasing drill density and upgrading the resource category from Inferred to Indicated, as well as exploration drill holes, which have confirmed mineral continuity to the southwest, identifying a down-dip extension of mineralization to the west, 300 metres below PEA pit shell.

All the results reported today will be included in the mineral resource update and Pre-Feasibility Study, expected in mid-2022. As announced on April 21, 2022, Troilus reached the cut-off for drilling to be included in these studies in March in light of its targeted timeline.

Southwest Zone intercept highlights include drill hole Hole SW-616 that returned 2.11 g/t AuEq (gold equivalent) over 10 metres, including 3.60 g/t AuEq over 2 metres and 4.24 g/t AuEq over 3 metres. Infill drill hole is located within the pit, focused on upgrading Inferred blocks to Indicated blocks for the upcoming PFS.

Hole SW-527 returned 2.42 g/t AuEq over 6 metres, including 12.56 g/t AuEq over 1 metres and 1.72 g/t AuEq over 4 metres, including 30.66 g/t AuEq over 1 metres. All intercepts are located outside of the PEA pit shell.

Hole SW-558 returned 13.64 g/t AuEq over 3 metres, including 29.81 g/t AuEq over 1 metre. All intercepts located outside of the PEA pit shell; high-grade gold intersected 300 metres below the PEA pit shell to the southwest.

Hole SW-531 returned 1.28 g/t AuEq over 14 metres, including 2.75 g/t AuEq over 2 metres. The hole is located entirely outside of the PEA pit shell and confirms mineral continuity to the southwest.

Hole SW-555 returned 1.65 g/t AuEq over 5 metres, including 6.12 g/t AuEq over 1 metre located outside of the PEA pit shell; confirming mineral continuity to the southwest.

Justin Reid, CEO, commented: “We’re continuing to see impressive results coming out of the Southwest Zone, which is encouraging given that this zone is expected to be the focus in the early years of production. Over the last 8 months, our primary focus has been to further define and upgrade the resource of the Southwest Zone for the ongoing Pre-Feasibility Study, set to be delivered mid-year. Already we’ve been able to more than double the footprint of the Southwest Zone, with high potential for further growth remaining. Since its discovery in late 2019, the Southwest Zone has become an extremely valuable component of the Troilus deposit – as we begin drilling our 11,000-metre Gap Zone program, we’re eager to uncover the potential of yet another piece of the Troilus system.”

Drill intervals reported in this news release are down-hole core lengths as true thicknesses cannot be determined with available information.

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.

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