The latest results further demonstrate high-grade mineral continuity extending on a north, north-west trend between the two formerly mined pits (see Figures 1 and 2). Highlights are reported below, with results presented in Table 1.
Connector Zone Intercept Highlights:
Hole 87-449
- 2.07 g/t AuEq over 11.2m, including 4.07 g/t AuEq over 5m
This interval is located directly at surface; the hole collared into bedrock within this high-grade mineralized zone.
- 1.22 g/t AuEq over 10.0m, including 1.49 g/t AuEq over 6.2m
- 1.31 g/t AuEq over 6m
Hole 87-451
- 4.33 g/t AuEq over 29m, including 6.37 g/t AuEq over 18m
- 5.5 g/t AuEq over 6m
- 1.01 g/t AuEq over 49m, including 1.99 g/t AuEq over 10m
Structural Controls Show Mineral Continuity at the
The “J-87 Connector” drill hole 87-449 intercepted up-dip mineralization directly at surface of a high-grade zone in previously announced drill hole 87-422, which intersected 138m @ 1.75 g/t AuEq (see press release
Drill hole 87-451 intersected a significant interval of high-grade mineralization at shallow depth along strike of interpreted structural trends travelling between the two formerly mined pits (See Figure 2 below). The mineralized interval of 4.3 g/t AuEq over 29 metres is one of the most consistently high-grade intervals drilled at Troilus, with 17 of the 29 samples within the zone returning values greater than 3.0 g/t AuEq.
These high-grade intervals exist along interpreted oblique structural trends which travel between the Z87 and J pits. In areas where these oblique trends intersect the primary NE-SW trending controls of mineralization, endowment of high grades can occur. Mineralization in the
Figure 1. Plan View of Z87 and J Zone Showing Current and Previously Reported Drill Holes
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0fabb3eb-cb5e-4db3-94d8-68ea65d4d9d9
Figure 2 – Section 14000N Facing North-East Showing Results for Hole 87-451
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6309d940-30e2-46a9-b255-e38ebe1bda66
Figure 3 – Section 14100N Facing North-East Showing Results for Hole 87-449
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ca99ba0e-c829-4fea-92aa-b48bba70ac90
Table 1 – Connector Zone Drill Results
Hole | From (m) | To (m) | Interval (m) | Inside/Outside of PEA | Cu Grade (%) | AuEq Grade (g/t) | ||||||
87-449 | ||||||||||||
26.8 | 38 | 11.2 | Inside | 1.68 | 0.26 | 5.91 | 2.07 | |||||
incl | 29 | 34 | 5.0 | Inside | 3.36 | 0.47 | 10.80 | 4.07 | ||||
57 | 58 | 1.0 | Inside | 0.73 | 0.30 | 6.00 | 1.17 | |||||
79 | 89 | 10.0 | Inside | 1.00 | 0.14 | 4.62 | 1.22 | |||||
incl | 80 | 86.2 | 6.2 | Inside | 1.25 | 0.15 | 4.83 | 1.49 | ||||
94 | 100 | 6.0 | Inside | 1.08 | 0.16 | 2.57 | 1.31 | |||||
incl | 95 | 98 | 3.0 | Inside | 1.51 | 0.23 | 3.30 | 1.82 | ||||
104 | 105.8 | 1.8 | Inside | 1.51 | 0.03 | 9.24 | 1.65 | |||||
133 | 141 | 8.0 | Outside | 0.94 | 0.05 | 1.78 | 1.02 | |||||
incl | 140 | 141 | 1.0 | Outside | 2.95 | 0.06 | 1.50 | 3.05 | ||||
470 | 482 | 12.0 | Outside | 0.48 | 0.23 | 3.30 | 0.80 | |||||
incl | 474 | 477 | 3.0 | Outside | 1.66 | 1.05 | 0.43 | 2.98 | ||||
550.3 | 569 | 18.7 | Outside | 1.15 | 0.13 | 3.65 | 1.35 | |||||
incl | 560.1 | 566 | 5.9 | Outside | 2.09 | 0.18 | 4.04 | 2.36 | ||||
87-451 | ||||||||||||
97 | 101 | 4.0 | Outside | 1.79 | 0.22 | 6.88 | 2.14 | |||||
incl | 100 | 101 | 1.0 | Outside | 4.31 | 0.34 | 11.10 | 4.86 | ||||
115 | 144 | 29.0 | Outside | 3.90 | 0.32 | 2.90 | 4.33 | |||||
incl | 119 | 137 | 18.0 | Outside | 5.77 | 0.45 | 3.96 | 6.37 | ||||
159 | 160 | 1.0 | Outside | 3.41 | 0.19 | 2.40 | 3.67 | |||||
545 | 557 | 12.0 | Outside | 0.80 | 0.06 | 0.85 | 0.88 | |||||
incl | 550 | 555 | 5.0 | Outside | 1.40 | 0.09 | 1.14 | 1.52 | ||||
562 | 568 | 6.0 | Outside | 2.53 | 2.36 | 0.12 | 5.50 | |||||
581 | 630 | 49.0 | Outside | 0.84 | 0.12 | 1.27 | 1.01 | |||||
incl | 614 | 624 | 10.0 | Outside | 1.71 | 0.20 | 1.91 | 1.99 |
Quality Assurance and Control
During the Zone 87 drill program, one metre 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
About
For more information:
VP Corporate Communications
+1 (647) 407-7123
info@troilusgold.com
Cautionary Note Regarding Forward-Looking Statements and Information
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability; the estimate of Mineral Resources in the updated Mineral Resource statement may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. There is no certainty that the Indicated Mineral Resources will be converted to the Probable Mineral Reserve category, and there is no certainty that the updated Mineral Resource statement will be realized.
The PEA is preliminary in nature, includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The PEA is subject to a number of risks and uncertainties. See below and the Company’s latest technical report available on SEDAR for more information with respect to the key assumptions, parameters, methods and risks of determination associated with the foregoing.
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 ongoing drill program and results on the Company, the possible economics of the project and the Company’s understanding of the project; the development potential and timetable of the project; the estimation of mineral resources; realization of mineral resource estimates; the timing and amount of estimated future exploration; the anticipated results of the Company’s ongoing 2023 drill program and their possible impact on the potential size of the mineral resource estimate; 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. 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 will result in expanded mineral resources; risks and uncertainties inherent to mineral resource estimates; the impact the COVID 19 pandemic may have on the Company’s activities (including without limitation on its employees and suppliers) and the economy in general; the impact of the recovery post COVID 19 pandemic and its impact on gold and other metals; the receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages; environmental and other risks of the mining industry, including without limitation, risks and uncertainties discussed in the most recent Technical Report and in other continuous disclosure documents of the Company available under the Company’s profile at www.sedar.com. 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.
![](https://ml.globenewswire.com/media/ZWQyYmIwMjgtZDlmZC00ZThhLWEzMDUtOTZlZTA1NDc2ZGIwLTExMDI2NjA=/tiny/Troilus-Gold-Corp-.png)
Figure 1
![](https://ml.globenewswire.com/media/0fabb3eb-cb5e-4db3-94d8-68ea65d4d9d9/medium/figure-1.jpg)
Plan View of Z87 and J Zone Showing Current and Previously Reported Drill Holes
Figure 2
![](https://ml.globenewswire.com/media/6309d940-30e2-46a9-b255-e38ebe1bda66/medium/figure-2.jpg)
Section 14000N Facing North-East Showing Results for Hole 87-451
Figure 3
![](https://ml.globenewswire.com/media/ca99ba0e-c829-4fea-92aa-b48bba70ac90/medium/figure-3.jpg)
Section 14100N Facing North-East Showing Results for Hole 87-449
2023 GlobeNewswire, Inc., source