In a news release, Troilus Gold Corp. (TLG:TSX; CHXMF:OTCQB) announced "the remaining results from its 2020 regional exploration program on its 100%-owned, 107,300 hectare Troilus Gold property, located within the Frôtet-Evans Greenstone Belt in north central Quebec."
The firm noted that the results included in the release pertain to the additional exploration work carried out at the newly discovered Beyan Gold Zone and the Testard Zone and that the sampling data serves to expand the mineral footprint of both zones.
The firm explained that the Testard Zone is located about 10 km south of the main mineral resource area and first showed initial positive results in October as it recorded samples as high as 203 g/t Au, which it stated is the highest in-situ gold grades recovered within the Frôtet-Evans Greenstone Belt. The company reported it contracted with an independent company to conduct further surface sampling, which returned findings as high as 82 g/t gold and 1,060 g/t silver.
Troilus Gold reported that several outcrop surface grab samples at the Testard Zone returned 82 g/t, 40 g/t and 20 g/t gold, and 1,060 g/t, 260 g/t and 263 g/t silver. The company added certain channel samples measured 19.5 g/t Au over 0.5m, 12.2 g/t Au over 1.3m and 5.3 g/t Au over 2.1m.
Troilus also noted that it is expanding the Beyan Gold Zone by 600 meters following the Alex Showing discovery that returned up to 12 g/t gold. The firm reported that the Beyan Zone had returned up to 9.7 g/t Au and 32.5 g/t Ag from outcrop samples.
Troilus Gold's CEO Justin Reid commented, "These continued positive results from our regional exploration efforts this year, along with the recent discoveries in close proximity to our land package, are starting to confirm the tremendous potential of the Frôtet Evans Greenstone belt, which is quickly becoming one of the most prospective exploration belts in Canada...We have four drills turning at site, with a multi-pronged objective to expand the resource at the Southwest Zone, upgrade the Z87 and J Zones, as well as geotechnical drilling, which will support the Pre-Feasibility Study that is currently underway."
The company stated that it kicked off its regional exploration program in the summer of 2020 with the goal of identifying high priority targets within the land package that it acquired earlier in the year. Troilus stated that it has since identified several mineralized outcrops that have led to multiple new discoveries.
The company reported that its 20,000-meter drill program is fully active with four drills operating onsite, two working on resource expansion, one on infill drilling to boost resource classification and one doing geotechnical drilling. The firm anticipates that it will receive some initial assay results before the end of this year and plans to continue drilling through 2021.
The company noted that the Troilus property covers greater than 107,000 hectares and is highly prospective having produced greater than 2 Moz gold and 70 Kt copper during the period from 1996 to 2010 when the site operated as an open pit mine.
Read what other experts are saying about:
Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Troilus Gold. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
