Troilus Gold Corp (TSX:TLG, OTCQX:CHXMF) has announced drill results from Cressida, one of its prospective regional exploration targets at its Troilus property located within the Frôtet-Evans Greenstone Belt in north-central Quebec, which have increased the continuity of mineralization by more than three-fold to 1.3 kilometres (km).
In a statement, Justin Reid, CEO of Troilus Gold, commented: “We are very excited by these high-grade results over significant widths, located on trend with the Troilus Project. The footprint of Cressida has significantly increased with this drill program, and we are very optimistic about the growth potential of this zone as our understanding of the geology and controls of mineralization continues to improve.”
He added: “We are currently preparing an expanded drill program for the upcoming Summer regional exploration program to follow-up on these excellent results and believe we can continue to demonstrate that the Troilus deposit at the former mine site exists within a broader district-scale gold system.”
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Cressida Drill Intercept Highlights:
- 10.68 grams per ton (g/t) gold (Au) over 7 metres (m), including 66.8 g/t Au over 1m in hole CRS-032 represents the best intercept reported to date in terms of linear grade at Cressida;
- 1.64 g/t Au over 16m, including 3.65 g/t Au over 6m in hole CRS-006, located 30m from surface;
- 8.16 g/t Au over 1m within a broader interval of 1.23 g/t Au over 15m in hole CRS-011.
The Cressida target is located around 10 kilometres (km) southwest of the main mineral corridor and former Troilus mine site along strike, and around 2 km southwest of the Beyan Gold Zone exploration target, both of which are accessible from the project’s main access road. The target, which is under a 50/50 joint venture with Argonaut Gold Inc, was inherited through the acquisition of UrbanGold Minerals Inc in 2021.
As part of its 2021 and 2022 summer regional exploration programs, Troilus completed a 6,500-metre drilling program at Cressida to follow up on 1,950 metres of historical drill results with the aim to better define and expand the known body of mineralization, which previously spanned a 400-metre strike length.
The mineralization remains open to further expansion both to the northeast and southwest, as well as at depth.
Troilus Gold is focused on the systematic advancement and de-risking of the former gold and copper Troilus Mine towards production. From 1996 to 2010, the Troilus Mine produced 2 million-plus ounces of gold and nearly 70,000 tonnes of copper.
The company holds a land position of 435 square kilometres within the prospective Frôtet-Evans Greenstone Belt. Since acquiring the project in 2017, ongoing exploration success has demonstrated the tremendous scale potential of the gold system on the property with significant mineral resource growth.
Contact the author at jon.hopkins@proactiveinvestors.com