Troilus Intersects 2.73 G/T AuEq Over 9 Metres Within Broader Intercept of 1.95 G/T AuEq Over 20 Metres at Recently Discovered Southwest Zone
TORONTO, Jan. 12, 2021 (GLOBE NEWSWIRE) — Troilus Gold Corp. (TSX: TLG; OTCQB: CHXMF) (“Troilus” or the “Company”) announces initial results from its Fall/Winter 2020 drill campaign at its 100%-owned Troilus property (the “Troilus Project”) located in north central Quebec.
Drill holes reported herein show significant extensions of gold mineralization beyond the PEA whittle pit published in 2020 (See press release dated August 31, 2020), which successfully outlined an estimated Inferred resource of 580,000 oz of gold equivalent (“AuEq”) ounces (22.6 Mt, at avg. grade of 0.80 g/t AuEq) in the Southwest Zone (“SWZ”) (See Figure 1). This new zone, initially discovered and drilled in late 2019 and early 2020, is located approximately 3 kilometres southwest of the former mine and main mineral resource area and is believed to represent one of the most important near-term mineral growth targets on the Troilus property.Southwest Zone drilling highlights include:Drill hole TLG-ZSW20-204, a 200-metre step-out hole, intersected high-grade gold-bearing mineralization between 50m and 450m from surface, all located outside of the NI 43-101 mineral resource envelope and the open pit proposed in the August 2020 PEA (See Figure 2).
Intercept highlights include: