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Troilus Gold Launches New 20,000 Metre Drill Program Following Release of Positive Preliminary Economic Assessment
TORONTO, Sept. 23, 2020 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (TSX: TLG; OTCQB: CHXMF) (“Troilus” or the “Company”) has initiated a new 20,000 metre drill prog
About this update from Troilus Mining Corp
[{"type":"text","content":" TORONTO, Sept. 23, 2020 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (TSX: TLG; OTCQB: CHXMF) (“Troilus” or the “Company”) has initiated a new 20,000 metre drill program at its 100%-owned Troilus property (the “Troilus Project”) located near Chibougamau, within the Frotêt-Evans Greenstone Belt in Quebec, Canada. The program will be completed through the remainder of 2020 with the objective being to upgrade current mineral resource estimates and continue the expansion and exploration of mineralization across the Troilus property, following the discovery of the Southwest Zone (“SWZ”) earlier this year (see Figure 1). A total of 80,500 metres of drilling since 2018 (see Figure 2) has delivered a total estimated indicated mineral resource of 4.96 Moz AuEq (177 Mt with an average grade of 0.87 g/t AuEq) and total estimated inferred mineral resource of 3.15 Moz AuEq (116.7 Mt with an average grade of 0.84 g/t AuEq) (see press release dated July 28, 2020), the majority of which is derived from 72,000 metres of drilling proximal to the Z87/Z87 South and the J Zones. Drilling at these zones will target upgrading the inferred mineral resources within current open pit constraining shells to support the planned prefeasibility study, as well as expand and extend near-surface mineralization to support the open-pit mine development scenario. The Southwest Zone is located 3.5 kilometres southwest of Z87, parallel and directly adjacent to the access road to the Troilus mine site. The Southwest Zone is characterized by the same dioritic host rock as Z87, but having a more intense level of alteration and mineralization. An 8,500 metre drill program undertaken in late 2019 and early 2020 delivered some of the best results ever drilled at the Troilus property, including 1.56 g/t AuEq over 73 metres in hole TLG-ZSW20-189 (see press release dated April 21, 2020), and outlined a more than 500 metre mineralized trend that remains open along strike. The SWZ contributed 583,000 AuEq open pit inferred ounces (22.6 Mt with an average grade of 0.80 g/t AuEq) to the overall estimated mineral resources (see press release dated July 28, 2020). Management believes successful drilling at the SWZ has the potential to outline more near surface, higher grade material that could have a significant impact on future engineering studies and production scenarios. ...