Hole X22-24-080 Intercept Highlights:
- Newly discovered “West Rim” intersected 1.37 g/t AuEq (1.32 g/t Au, 1.5 g/t Ag, 0.02% Cu) over 11 m within a broader intersection of 0.74 g/t AuEq (0.69 g/t Au, 1.78 g/t Ag, 0.02% Cu) over 32 m starting at just 21 m downhole (See Figure 2).
- Zone X22 intersected 10.27 g/t AuEq (10.15 g/t Au, 0.50 g/t Ag, 0.07% Cu) over 1 m and 0.83 g/t AuEq (0.58 g/t Au, 1.45 g/t Ag, 0.15% Cu) over 30m incl. 13.85 g/t AuEq (12.55g/t Au, 9.10 g/t Ag, 0.76% Cu) over 1 m at 550 m depth (see Figure 2).
* the completed NI 43-101 technical report associated with the Troilus Project FS will be available on SEDAR+ at www.sedarplus.ca under the Company’s issuer profile, as well as the Company’s website at www.troilusgold.com on or before
Hole X22-24-080, reported today, was designed to test this horizon and to test X22 mineralization at depth. The West Rim horizon returned 0.74 g/t AuEq over 32 m including 1.37 g/t AuEq over 11 m starting at 21 metres downhole. This intercept is found within 200 metres to the southwest of the
West Rim Zone Geology
Hole X22-24-080 shows a clear metallic zonation in the West Rim with a lower zinc-silver zone and an upper gold zone. Sulphide mineralization consists of disseminated, stringers veins, and small lenses of massive pyrrhotite, pyrite with accessory sphalerite and chalcopyrite transposed into the dominant foliation. The type of mineralization, alteration and the polymetallic signature suggests a gold-bearing VMS (Volcanogenic Massive Sulfides) system, which increases the prospectivity of the area to find larger and richer ore zones along strike and at depth. West Rim is a phase 1 target, which encompasses a combination of favourable volcanic/intrusive phases, geophysical anomalies, and attractive structural settings all located in proximity to the mine site, in areas with little drill coverage. Subsequent drilling phases include following up on high-grade trends at depth below the
Results from X22-24-080 equally confirmed continuity of the mineralized system to depth below Zone X22, with broad mineralized intercepts of 0.83 g/t AuEq over 30 m and 0.38 g/t AuEq over 26 m, and continuous high-grade trends with intersections of 10.27 g/t AuEq over 1 m and 13.85 g/t AuEq over 1 m. The results also show the tonalitic phase of the Troilus intrusion, which hosts X22, appears to be thickening at depth. Data from deeper extension holes like X22-24-080 will be used to inform and update the ongoing drill program with a focus on expanding high-grade trends.
Zone X22 was identified in late 2022 at the southwestern border of Z87 open pit. 23,256 metres were drilled at X22, which successfully expanded the zone's mineral footprint from 300 metres to approximately 1 kilometre and confirmed a consistent pattern of continuous high-grade near-surface structures along this strike length. Although X22 only accounts for a small portion of the 322,000 metres drilled at Troilus since 2018, it has contributed 1.19Moz AuEq (59.2Mt at 0.62 g/t AuEq) or 11% of total open pit Indicated mineral resources (see press release,
Previously Reported Highlights from open high-grade trends of X22:
(see Table 2 for breakdown by metal)
- 10.73 g/t AuEq over 10 m incl. 19.07 g/t AuEq over 3 m and 41.98 g/t AuEq over 1 m (X22-24-071), and 32.48 g/t AuEq over 0.8 m (X22-23-075).
- 104.12 g/t AuEq over 1 m from (X22-23-042), 15.57 g/t AuEq over 1 m, 26.14 g/t AuEq over 1 m (X22-23-059), 3.32 g/t AuEq over 11 m incl. 24.60 g/t AuEq over 1 m and 3.11 g/t AuEq over 17 m incl. 7.26 g/t AuEq over 3 m (X22-23-066), and 133.15 g/t AuEq over 0.7 m (X22-23-067).
- 3.54 g/t AuEq over 6m from hole X22-23-031, 8.73 g/t AuEq over 4m incl. 25.35 g/t AuEq over 1m (X22-23-032), 6.59 g/t AuEq over 3 m (X22-23-033), and 14.41 g/t AuEq over 1.2 m (X22-23-036)
- 6.74 g/t AuEq over 3 m incl. 15.58 g/t AuEq over 1 m (X22-23-006) and 131.86 g/t AuEq over 1 m (X22-23-030).
- 8.09 g/t AuEq over 2 m (X22-23-023)
- 11.18 g/t AuEq over 6 m including 27.70 g/t AuEq over 2 m (X22-23-027).
Further drilling of underground targets is planned below the
Figure 1 – Plan View of West Rim Showing Current and Previously Reported Drill Holes
A figure accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/914ded27-48c0-4a5d-8658-73079339ae9a
Figure 2 – Geology Map of the Troilus Deposit Showing Current and Previously Reported Drill Holes
A figure accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1b04b96a-a020-4a33-8bb7-d4719411957b
Table 1 – X22-24-080 Drill Results
Hole | From (m) | To (m) | Interval (m) | Inside/Outside of | Au Grade (g/t) | Cu Grade (%) | Ag Grade (g/t) | AuEq* Grade (g/t) |
X22-24-080 | ||||||||
21 | 53 | 32 | outside | 0.69 | 0.02 | 1.78 | 0.74 | |
incl | 32 | 43 | 11 | outside | 1.32 | 0.02 | 1.5 | 1.37 |
232 | 233 | 1 | outside | 0.66 | 0.77 | 27.5 | 2.22 | |
270 | 273 | 3 | outside | 0.47 | 0.19 | 1.67 | 0.79 | |
442 | 448 | 6 | outside | 0.17 | 0.09 | 0.33 | 0.31 | |
478 | 479 | 1 | outside | 10.15 | 0.07 | 0.5 | 10.27 | |
567 | 597 | 30 | outside | 0.58 | 0.15 | 1.45 | 0.83 | |
incl | 587 | 588 | 1 | outside | 12.55 | 0.76 | 9.1 | 13.85 |
628 | 629 | 1 | outside | 1.37 | 0.23 | 1.7 | 1.75 | |
642 | 668 | 26 | outside | 0.28 | 0.06 | 0.76 | 0.38 | |
incl | 643 | 644 | 1 | outside | 1.2 | 0.21 | 1.3 | 1.54 |
incl | 663 | 668 | 5 | outside | 0.56 | 0.15 | 2.42 | 0.83 |
* AuEq = Au + 1.5628 x Cu + 0.0128 x Ag
Table 2 – Previously Reported Results from Zone X22
Hole | From (m) | To (m) | Interval (m) | Inside/Outside of | Au Grade (g/t) | Cu Grade (%) | Ag Grade (g/t) | AuEq* Grade (g/t) |
X22-23-027 ( | ||||||||
160 | 166 | 6 | inside | 9.42 | 0.88 | 30.10 | 11.18 | |
incl | 161 | 163 | 2 | inside | 23.22 | 2.21 | 80.30 | 27.70 |
X22-23-023 ( | ||||||||
177 | 179 | 2 | inside | 7.75 | 0.19 | 3.00 | 8.09 | |
X22-23-006 ( | ||||||||
164.45 | 171 | 6.55 | inside | 3.24 | 0.02 | 5.46 | 3.35 | |
incl | 168 | 171 | 3 | inside | 6.59 | 0.02 | 9.30 | 6.74 |
incl | 170 | 171 | 1 | inside | 15.35 | 0.03 | 14.60 | 15.58 |
X22-23-030 ( | ||||||||
65 | 66 | 1 | inside | 126.50 | 2.85 | 71.00 | 131.86 | |
X22-23-031 ( | ||||||||
142 | 148 | 6 | inside | 2.04 | 0.37 | 72.03 | 3.54 | |
X22-23-032 ( | ||||||||
72 | 76 | 4 | inside | 8.22 | 0.24 | 10.45 | 8.73 | |
incl | 73 | 74 | 1 | inside | 24.10 | 0.59 | 25.80 | 25.35 |
X22-23-033 ( | ||||||||
77 | 80 | 3 | inside | 5.86 | 0.38 | 10.63 | 6.59 | |
X22-23-036 ( | ||||||||
57 | 58.2 | 1.2 | inside | 14.25 | 0.08 | 2.80 | 14.41 | |
X22-23-042 ( | ||||||||
166 | 167 | 1 | inside | 102.50 | 0.82 | 26.80 | 104.12 | |
X22-23-046 ( | ||||||||
224 | 225 | 1 | outside | 15.55 | 0.01 | 0.25 | 15.57 | |
X22-23-059 ( | ||||||||
96 | 97 | 1 | inside | 25.90 | 0.10 | 6.20 | 26.14 | |
X22-23-066 ( | ||||||||
198 | 209 | 11 | inside | 3.20 | 0.06 | 2.16 | 3.32 | |
incl | 201 | 202 | 1 | inside | 24.40 | 0.07 | 6.90 | 24.60 |
343 | 360 | 17 | outside | 3.04 | 0.04 | 0.52 | 3.11 | |
incl | 351 | 354 | 3 | outside | 7.24 | 0.01 | 0.25 | 7.26 |
X22-23-067 ( | ||||||||
171.6 | 172.3 | 0.7 | inside | 133.00 | 0.07 | 3.40 | 133.15 | |
X22-23-071 ( | ||||||||
379 | 389 | 10 | outside | 7.63 | 1.51 | 57.77 | 10.73 | |
incl | 379 | 382 | 3 | outside | 10.24 | 4.42 | 150.00 | 19.07 |
incl | 388 | 389 | 1 | outside | 40.20 | 0.42 | 87.50 | 41.98 |
X22-23-075 ( | ||||||||
104 | 104.8 | 0.8 | outside | 32.40 | 0.04 | 1.20 | 32.48 |
* AuEq = Au + 1.5628 x Cu + 0.0128 x Ag and has been updated since original release
Table 3 – Previously Reported Results from Zone 87 (
Hole | From (m) | To (m) | Interval (m) | Inside/Outside of | Au Grade (g/t) | Cu Grade (%) | Ag** Grade (g/t) | AuEq Grade (g/t) |
TLG-Z8718-017 | ||||||||
643 | 685 | 42 | outside | 2.61 | 0.08 | NA | 2.74 | |
incl | 671 | 673 | 2 | outside | 42.30 | 0.12 | NA | 42.49 |
TLG-Z8718-018 | ||||||||
675 | 727 | 52 | outside | 1.88 | 0.10 | NA | 2.04 | |
incl | 684 | 692 | 8 | outside | 4.49 | 0.18 | NA | 4.77 |
incl | 700 | 712 | 12 | outside | 3.11 | 0.10 | 0.00 | 3.27 |
TLG-Z8718-035 | ||||||||
689 | 770 | 81.00 | outside | 1.44 | 0.13 | NA | 1.64 | |
incl | 707 | 710 | 3.00 | outside | 8.25 | 0.54 | NA | 9.09 |
incl | 755 | 765 | 10 | outside | 3.23 | 0.30 | NA | 3.70 |
TLG-Z8718-44W | ||||||||
832 | 899 | 67 | outside | 1.58 | 0.10 | NA | 1.74 | |
incl | 874 | 876 | 2 | outside | 10.03 | 0.35 | NA | 10.58 |
incl | 881 | 887 | 6 | outside | 7.54 | 0.17 | NA | 7.81 |
* AuEq = Au + 1.5628 x Cu + 0.0128 x Ag and has been updated since original release
* NA = Not Analyzed. AuEq calculated using value of 0.00 g/t Ag
Quality Assurance and Control
During the drill program, one meter assay samples were taken from NQ core and sawed in half. One-half was sent for assaying at
Qualified Person
The technical and scientific information in this press release has been reviewed and approved by
AuEq Disclosure
The formulas used to calculate equivalent values for resources are as follows, for 87 Pit AuEq = Au + 1.5628*Cu +0.0128 *Ag, for J Pit AuEq = Au + 1.5107*Cu +0.0119 *Ag, for SW Pit AuEq = Au + 1.6823*Cu +0.0124 *Ag, for X22 Pit AuEq = Au + 1.5628*Cu +0.0128 *Ag. AuEq was calculated using metal prices of
About
For more information:
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+1 (647) 407-7123
info@troilusgold.com
Cautionary Note Regarding Forward-Looking Statements and Information
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 drill results on the Company, the results of the FS and the timing of the supporting technical report to be filed, including, without limitation various project economics, financial and operational parameters such as the timing and amount of future production from the Project, expectations with respect to the IRR, NPV, payback and costs of the Project, anticipated mining and processing methods of the Project; proposed infrastructures, anticipated mine life of the Project, expected recoveries and grades, timing of future studies including the environmental assessments (including the timing of an environmental impact study) and development plans, opportunity to expand the scale of the project, the project becoming a cornerstone mining project in Noth America; the development potential and timetable of the project; the estimation of mineral resources and reserves; realization of mineral resource and reserve estimates; the timing and amount of estimated future exploration; 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, the timing and amount of estimated future exploration; and the anticipated results of the Company’s 2024 drill program and their possible impact on the potential size of the mineral resource estimate. 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: 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 and reserve estimates; the high degree of uncertainties inherent to feasibility studies and other mining and economic studies which are based to a significant extent on various assumptions; variations in gold prices and other metals, exchange rate fluctuations; variations in cost of supplies and labour; receipt of necessary approvals; availability of financing for project development; uncertainties and risks with respect to developing mining projects; 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 Company’s latest Annual Information Form, its technical reports and other continuous disclosure documents of the Company available under the Company’s profile at www.sedarplus.ca. 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 2
Geology Map of the Troilus Deposit Showing Current and Previously Reported Drill Holes
Figure 1
Plan View of West Rim Showing Current and Previously Reported Drill Holes
2024 GlobeNewswire, Inc., source