Troilus Gold Corp. (TLG:TSX; CHXMF:OTCQB) announced in a news release that additional exploration and stepout drill results from the Southwest zone of its Troilus project in Quebec extended the mineralization even further beyond the pit area previously outlined in the preliminary economic assessment (PEA).
"These continued positive results in the Southwest zone are demonstrating a potential scale that is exceeding our expectations," CEO Justin Reid said in the release.
One highlight hole from the new results is ZSW20-209, which extended known mineralization 250 meters (225m) to the east of and 225m below the PEA-defined pit. The area remains open, "suggesting potential for continued resource growth."
Intercepts included 1.08 grams per ton gold equivalent (1.08 g/t Au eq) over 16m, including 1.87 g/t over 7m and 2.56 g/t over 4m.
Hole ZSW20-211 extended mineralization below the pit, down to at least 500 meters from surface. Intercepts from this hole include 1.48 g/t Au eq over 6m, including 6.9 g/t over 1m, and 1.28 g/t Au eq over 9m.
Similarly, Hole ZSW20-208 extended the zone downdip to more than 200 meters below the pit, and mineralization remains open at depth. The hole returned much higher grades than those of previously reported hole ZSW20-187, which was located 150 meters above hole ZSW20-208.
Noteworthy intercepts of ZSW20-208 are 1.16 g/t Au eq over 18m, including 2.36 g/t over 7m, and 11.09 g/t over 1m, among others. A previously undrilled area in the pit shell returned 3.1 g/t Au eq over 1m.
"The results from holes 209 and 211 have defined an expanded mineral system that dwarfs the pit shell proposed in the PEA completed last year with strong extensions of mineralization all located within 500m from surface," Reid said. "It's very exciting to see the Southwest Zone rapidly evolving from its initial discovery just over 1 year ago. We are eager to continue targeted drilling in this area to better define the potential of what could rapidly become a very large system with multi-million ounce resource potential of a scale we believe could be in-line with the main zone Z87, or potentially larger."
Read what other experts are saying about:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her 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.
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.