Single Zone at Explorer’s Quebec Project ‘Returns Highest Assay Results to Date’

Source: Streetwise Reports 08/17/2021

Troilus Gold’s “Southwest zone will see a significant increase in contribution to the new resource estimate expected later in Q3/21,” noted a Laurentian Bank Securities report.

In an Aug. 17 research note, Laurentian Bank Securities analyst Jacques Wortman reported new results of four holes that Troilus Gold Corp. (TLG:TSX; CHXMF:OTCQX) drilled in the Southwest zone of its namesake project, including the highest-grade intercept encountered there to date.

Wortman highlighted the drill results from hole ZSW21-512 as it returned the best assays ever drilled at the Troilus project. They included 3.58 grams per tonne gold equivalent (3.58 g/t Au eq) over 15 meters (15m), including 6.8 g/t Au eq over 7m, within 60m of surface. Because Troilus placed ZSW21-512 400m south of and on-trend with previously reported hole ZSW20-189, the new intercepts suggest the high-grade trend encountered in ZSW20-189 continues south of the PEA pit.

The three other newly reported holes “also hit encouraging mineralization,” noted Wortman.

Specifically, hole ZSW21-506 intersected 5.73 g/t Au eq over 6m starting 79m downhole, including 32.41 g/t Au eq over 1m. Hole ZSW21-505 returned 1.26 g/t Au eq over 11m starting 277m downhole, including 2.35 g/t Au eq over 5m.

Nearly all of the intercepts encountered in these two holes were next to and below the PEA pit shell.

Troilus Gold will incorporate these new and previous Southwest drill results, collected from 43,800m worth of drilling, into the imminent resource estimate update, due to be released in Q3/21, and into the subsequent prefeasibility study (PFS), which is expected in Q4/21, according to Wortman. He purported that due to the higher grades in Southwest, it is highly probable the PFS will propose that mining start there.

As for how many ounces the Southwest drill results to date will add to the zone’s resource it’s difficult to calculate due to the assays coming from inside and outside the PEA pit, noted Wortman. However, the number is expected to be “significant,” he says.

Laurentian has a Buy rating on Troilus Gold and a CA$3.30 per share target price. In comparison, the company’s stock is now trading at about CA$0.85 per share.

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( Companies Mentioned: TLG:TSX; CHXMF:OTCQX,

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