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Troilus says early Testard samples add to regional picture

Troilus Gold CEO Justin Reid says early-stage exploration continues to demonstrate the “district” scale potential of the company’s large Frotet-Evans Greenstone Belt landholding in Quebec, with channel sampling and bedrock mapping at Testard, 10km south of its 3.8 million ounce Troilus resource, returning high grades and pointing to similar surface geological traits as Troilus.
Troilus says early Testard samples add to regional picture Troilus says early Testard samples add to regional picture Troilus says early Testard samples add to regional picture Troilus says early Testard samples add to regional picture Troilus says early Testard samples add to regional picture

Troilus Gold is making encouraging high-grade finds on its extensive Quebec land holdings

Staff Reporter

Reid said Testard sample grades including 203gpt gold, 2,440gpt silver and 4.37% copper from outcropping quartz veins in tonalite were the "highest ever reported in outcrop within the Frotet-Evans Belt".

Other gold samples returned 54.2gt, 34.9gpt, 13.55gpt, and 8.44gpt.

Testard is among regional targets set to be further tested over the next 12 months as Troilus Gold expands its drilling focus beyond the central indicated and inferred resource that underpinned a project preliminary economic assessment released at the end of August.

The PEA indicated the previously mined Troilus gold-copper deposit could support a long-life, large-scale gold-copper project, costing more than C$330 million. Troilus Gold is cashed up after recently raising C$25 million via an equity financing at $1.05.

The company's shares (TSX: TLG) closed at $1.26 Monday, capitalising it at $145 million.

Troilus Gold said mineralisation had been detected at Testard in a 35-45m-wide zone of "brittle deformation and quartz vein swarms, hosted within a broad, undelineated intrusive tonalite package".

"Similar Testard mineralisation has been traced in outcrop on Troilus ground up to 400m from the main showing," it said.

"The silica flooding and brittle features that host gold bearing sulphides at Testard have the same characteristics as the Troilus mine and the newly discovered Southwest Zone."

Troilus Gold identified the Southwest extension to the Troilus resource area earlier this year. The company has been expanding its landholding to become the largest claim owner on the greenstone belt.

It said assays from 35 trench samples "obtained in the vicinity of the Testard showing" were awaited.

"We are thrilled with the latest insitu results including the highest grade gold occurrence on our property to date and the highest ever reported in outcrop within the Frotet-Evans Belt," Reid said.

"What's particularly exciting about these results is that the geological characteristics of the Testard Zone and host rock are not only the same as our main mineral resource zones, including the newest Southwest Zone discovered earlier this year, but also hold many geological similarities to the recently announced Beyan Gold Zone Discovery and the Goldfield Boulder Zone discovery … 8km and 36km away [respectively] from the Troilus mine site.

"To date, gold bearing outcrops displaying the same geological features as these positive Testard results have already been traced over a strike length of 400m and we look forward to pending results and further planned work to better define this zone."