Troilus Continues to Expand Zone X22, Drills High Grades of 103.81 G/T AuEq over 1M, 14.68 G/T AuEq over 7M, 3.10 G/T AuEq over 17M and 3.29 G/T AuEq over 11M
TROILUS CONTINUES TO EXPAND ZONE X22, DRILLS HIGH GRADES OF 103.81 G/T AUEQ OVER 1M,
14.68 G/T AUEQ OVER 7M, 3.10 G/T AUEQ OVER 17M AND 3.29 G/T AUEQ OVER 11M
July 11, 2023, Montreal, Quebec – Troilus Gold Corp. (“Troilus” or the “Company”, TSX: TLG; OTCQX:
CHXMF) reports additional assay results from Zone X22 at the gold-copper Troilus Project, located in
northcentral Quebec, Canada.
These results further demonstrate strong continuity between previously drilled holes and continue to
highlight the high-grade trends of this zone (see plan view in Figure 1 and sections in Figures 2 and 3).
The reported results form part of a definition drill program targeting the high-grade NE-SW deformation
corridor that characterizes the X22 Zone. An additional ~4,000 metres focused on infill drilling are planned
in order to meet the Indicated resource category spacing requirement.
All results reported lie entirely outside of the PEA pit shells, excluding hole X22-23-026, and are intended
to be included in the upcoming mineral resource estimate and Feasibility Study.
Zone X22 Intercept Highlights:
▪ Hole X22-23-042 intersected a high-grade interval of 103.81 g/t AuEq over 1m, as well as 1.09 g/t
AuEq over 45m within a broader intersection of 0.83 g/t AuEq over 82m , extending
mineralization down-dip by 100m with hole X22-23-069, which returned 0.73 g/t AuEq over 55m,
including 5.35 AuEq over 1m (see Figure 3). Mineralization remains open to expansion at depth.
▪ Hole X22-23-067 intersected 14.68 g/t AuEq over 7m, including 133.12 g/t AuEq over 0.7m
▪ Hole X22-23-066 intersected 3.29 g/t AuEq over 11m, including 24.56 g/t AuEq over 1m and 3.10
g/t AuEq over 17m, including 7.26 g/t AuEq over 3m extending mineralization 50m down -dip
from previously reported hole 87-22-446 (see Figure 2).
▪ Hole X22-23-044 returned 5.03 g/t AuEq over 3m, including 10.17 g/t AuEq over 1m extending
mineralization 50m down-dip of hole X22 -23-066 and remains open to expansion at depth (see
Figure 2).
▪ Hole X22-23-057 drilled 2 .75 g/t AuEq over 2.4m at surface and 1.38 g/t AuEq over 12m,
including 4.94 g/t AuEq over 1m confirming mineral continuity 100m down-dip from previously
reported hole 87-22-410 and 50m up-dip from previously hole X22-23-023 (see Figure 2).
Justin Reid, CEO of Troilus Gold, commented, “Drilling in Zone X22 continues to impress us, returning
some of the highest gra des and most continuous intercepts in Troilus’ history. We strongly believe that
our drilling efforts at X22 will optimize an already strong project, with near -surface high grades that will
enhance the mine’s strip ratio and positively impact the mine sequencing. Significant recent rainfall in
Quebec has provided some relief to the forest fire situation in the Eeyou-Istchee James Bay region and
operations at our site are slowly re-starting since receiving government approval to access our camp. We
expect to ramp up and resume drilling and exploration activities in the coming week as we closely monitor
the situation to ensure the safety of our staff and local communities.”
The northeastern most region of X22 is showcasing strong grades and mineral continuity near surface.
Wide intervals of mineralization such as 0.83 g/t AuEq of 82m from hole X22-23-042 are characterized by
pervasive biotite alteration with disseminated sulfides, as well as sericitized shear zones and felsic
porphyry dykes. High-grade intercepts such as 103.81 g/t AuEq from X22-23-042 are characterized by
more discrete structures containing semi-massive pyrrhotite and chalcopyrite. The strategic execution of
the X22 drill program has rapidly expanded and defined the mineralized trend, which now extends ~1
kilometre and is expected to have a positive impact on the economics in the upcoming Feasibility Study,
which remains on schedule for targeted completion prior to the end of the 2023 calendar year.
Figure 1: Plan View Map of Zone X22 Showing Current and Previously Reported Drilling
Figure 2: Section 13,275N ( A-A’ Figure 1) Showing New Results for Holes X22-23-044, X22-23-066, and
X22-23-057
Figure 3: Section 13,075N (B-B’ Figure 1) Showing New Results for Holes X22-23-042 and X22-23-069
Table 1: Zone X22 Drill Results
Hole From
(m) To (m) Interval
(m)
Inside/Outside
of PEA Pit Shell
Au
Grade
(g/t)
Cu
Grade
(%)
Ag
Grade
(g/t)
AuEq
Grade
(g/t)
X22-23-017
29.8 59 29.2 outside 0.42 0.07 1.06 0.52
incl 32 32.5 0.5 outside 1.20 0.07 1.10 1.30
incl 48 49 1 outside 1.55 0.19 4.10 1.83
incl 54 55 1 outside 1.31 0.04 0.25 1.36
incl 57 58 1 outside 0.79 0.10 1.10 0.93
65 66 1 outside 0.72 0.14 1.40 0.91
75 76 1 outside 0.75 0.09 0.70 0.87
77 78 1 outside 0.60 0.12 1.40 0.76
97 98 1 outside 1.29 0.05 0.25 1.36
115 116 1 outside 0.82 0.04 0.25 0.88
118 122 4 outside 0.91 0.07 3.43 1.03
134 135 1 outside 0.97 0.05 0.50 1.03
145 184 39 outside 0.56 0.06 0.85 0.65
incl 145 147 2 outside 0.75 0.15 1.15 0.96
incl 156 172 16 outside 0.74 0.08 1.39 0.86
incl 175 178 3 outside 1.02 0.10 1.07 1.16
incl 181 184 3 outside 0.76 0.03 0.40 0.81
X22-23-018
61 67 6 outside 0.45 0.07 1.05 0.55
incl 62 63 1 outside 0.90 0.10 1.20 1.04
86 97 11 outside 0.41 0.07 1.03 0.50
incl 95 97 2 outside 1.02 0.08 1.80 1.15
126 127 1 outside 0.97 0.03 1.00 1.02
X22-23-026
24 25 1 inside 0.98 0.06 2.00 1.07
X22-23-042
166 167 1 outside 102.50 0.82 26.80 103.81
188 189 1 outside 1.21 0.03 0.70 1.25
287 369 82 outside 0.70 0.10 0.84 0.83
incl 323 368 45 outside 0.92 0.13 1.10 1.09
X22-23-043
43 44 1 outside 0.72 0.15 1.60 0.93
51 52 1 outside 1.01 0.02 0.25 1.04
199 200 1 outside 0.83 0.09 2.98 0.98
incl 202 203 1 outside 1.65 0.22 5.70 1.99
incl 204 205 1 outside 1.43 0.09 3.90 1.58
217 219 2 outside 1.28 0.17 1.58 1.51
262 289 27 outside 0.69 0.08 1.18 0.80
incl 282 283 1 outside 1.96 0.22 4.40 2.28
incl 287 288 1 outside 2.18 0.21 1.70 2.46
327 332 5 outside 0.75 0.10 0.25 0.88
X22-23-044
81 82 1 outside 1.24 0.21 2.70 1.53
191 194 3 outside 4.71 0.24 1.67 5.03
incl 191 192 1 outside 9.54 0.47 3.30 10.17
incl 193 194 1 outside 3.96 0.20 0.90 4.23
202 207 5 outside 0.72 0.01 0.25 0.74
205 207 2 outside 1.33 0.01 0.25 1.34
247 248 1 outside 1.14 0.05 0.25 1.20
252 256 4 outside 0.71 0.09 13.45 0.97
incl 252 253 1 outside 0.97 0.33 52.70 1.95
incl 255 256 1 outside 1.75 0.02 0.60 1.78
266 267 1 outside 2.05 0.02 0.50 2.08
274 277 3 outside 0.68 0.05 1.58 0.76
incl 276 277 1 outside 1.15 0.07 3.50 1.28
288 290 2 outside 1.22 0.02 1.33 1.27
358 364 6 outside 0.95 0.01 0.73 0.97
incl 359 360.2 1.2 outside 2.30 0.02 1.80 2.34
incl 363 364 1 outside 1.18 0.00 0.25 1.18
386 399 13 outside 0.74 0.01 0.28 0.76
incl 386 388.15 2.15 outside 2.53 0.01 0.25 2.55
incl 398 399 1 outside 1.19 0.01 0.25 1.20
403 410 7 outside 0.68 0.02 0.53 0.70
incl 407 409 2 outside 1.17 0.04 0.90 1.23
X22-23-046
65 66 1 outside 0.76 0.52 6.80 1.48
72 73 1 outside 3.18 0.67 5.80 4.08
91 92 1 outside 6.93 0.27 6.50 7.33
218 219 1 outside 1.25 0.02 0.50 1.28
224 225 1 outside 15.55 0.01 0.25 15.57
240 241 1 outside 2.58 0.00 0.25 2.59
248 249 1 outside 3.26 0.01 0.25 3.27
264 265 1 outside 1.09 0.01 0.25 1.10
290 295 5 outside 1.24 0.02 0.30 1.27
incl 291 292 1 outside 2.84 0.03 0.50 2.89
incl 294 295 1 outside 2.04 0.03 0.25 2.08
408 409 1 outside 1.02 0.00 0.25 1.02
X22-23-056
15 28 13 outside 1.49 0.01 0.93 1.51
incl 24 28 4 outside 3.11 0.03 2.23 3.18
X22-23-057
17.6 20 2.4 outside 2.37 0.18 14.78 2.75
47 48 1 outside 1.05 0.00 0.25 1.06
92 94 2 outside 0.95 0.00 0.25 0.95
118 130 12 outside 1.37 0.00 0.25 1.38
incl 122 123 1 outside 4.93 0.00 0.25 4.94
incl 124 125 1 outside 2.95 0.00 0.25 2.96
incl 129 130 1 outside 3.38 0.01 0.25 3.40
139 140.5 1.5 outside 1.04 0.00 0.25 1.05
165 170.5 5.5 outside 1.57 0.08 5.19 1.72
incl 169.6 170.5 0.9 outside 7.16 0.29 19.10 7.72
X22-23-059
96 97 1 outside 25.90 0.10 6.20 26.09
111 112 1 outside 1.15 0.01 4.90 1.20
137 162 25 outside 0.68 0.01 0.47 0.71
incl 143 146 3 outside 1.25 0.02 0.55 1.28
incl 152 153 1 outside 3.05 0.07 2.50 3.17
173 180 7 outside 0.69 0.02 0.47 0.71
incl 175 177 2 outside 1.18 0.01 0.25 1.19
200 201 1 outside 3.00 0.12 2.10 3.18
X22-23-060
60 61 1 outside 1.16 0.09 3.10 1.30
191 192 1 outside 4.30 0.00 0.25 4.31
249 250 1 outside 2.47 0.01 0.25 2.48
X22-23-066
198 209 11 outside 3.20 0.06 2.16 3.29
incl 201 202 1 outside 24.40 0.07 6.90 24.56
212 213 1 outside 1.18 0.13 7.00 1.41
217 218 1 outside 0.84 0.13 7.10 1.08
341 342 1 outside 1.05 0.06 0.25 1.13
343 360 17 outside 3.04 0.04 0.52 3.10
incl 343 344 1 outside 3.81 0.02 0.25 3.84
incl 351 354 3 outside 7.24 0.01 0.25 7.26
incl 358 360 2 outside 6.26 0.01 0.58 6.28
371 372 1 outside 1.74 0.02 1.00 1.77
X22-23-067
171 178 7 outside 14.54 0.10 1.22 14.68
incl 171 171.6 0.6 outside 1.05 0.12 2.40 1.22
incl 171.6 172.3 0.7 outside 133.00 0.07 3.40 133.12
incl 175 176 1 outside 5.73 0.15 1.30 5.94
incl 177 178 1 outside 0.88 0.15 0.90 1.08
195 213 18 outside 0.73 0.08 1.01 0.84
incl 195 198 3 outside 1.09 0.07 1.97 1.21
incl 204 213 9 outside 0.93 0.11 0.98 1.07
317 318 1 outside 1.44 0.00 0.25 1.45
X22-23-069
106 109 3 outside 2.66 0.01 0.25 2.68
incl 106 107 1 outside 6.15 0.03 0.25 6.19
218 226 8 outside 0.81 0.10 0.89 0.94
incl 218 219.5 1.5 outside 1.05 0.05 0.80 1.12
incl 221 222 1 outside 0.83 0.14 1.00 1.02
incl 225 226 1 outside 1.20 0.08 0.50 1.31
259 314 55 outside 0.60 0.09 0.61 0.73
incl 272 273 1 outside 1.66 0.27 1.70 2.01
incl 285 286 1 outside 5.27 0.06 0.25 5.35
incl 298 299 1 outside 2.31 0.12 0.50 2.46
X22-23-070
125 127 2 outside 0.74 0.10 4.30 0.91
171.6 172.2 0.6 outside 10.60 0.44 9.70 11.25
297 324 27 outside 0.95 0.12 1.50 1.12
incl 297 298 1 outside 4.19 0.22 11.20 4.59
incl 302 303 1 outside 2.61 0.22 1.40 2.90
*Note drill intervals reported in this news release are down-hole core lengths as true thicknesses cannot be determined with
available information.
Quality Assurance and Control
During the Zone X22 drill program, one meter assay samples were taken from NQ core and sawed in half.
One-half was sent for assaying at ALS Laboratory, a certified commercial laboratory, and the other half
was retained for results, cross checks, and future reference. A strict QA/QC program was applied to all
samples, which included insertion of one certified mineralized standard and one blank sample in each
batch of 25 samples. Every sample was processed with standard crushing to 85% passing 75 microns on
500 g splits. Samples were assayed by one-AT (30 g) fire assay with an AA finish and if results were higher
than 3.5 g/t Au, assays were redone with a gravimetric finish. For QA/QC samples, a 50 g fire assay was
done. In addition to gold, ALS laboratory carried out multi-element analysis for ME-ICP61 analysis of 33
elements four acid ICP-AES.
Qualified Person
The technical and scientific information in this press release has been reviewed and approved by Nicolas
Guest, P.Geo., Senior Project Geologist, who is a Qualified Person as defined by NI 43-101. Mr. Guest is
an employee of Troilus and is not independent of the Company under NI 43-101.
About Troilus Gold Corp.
Troilus Gold Corp. is a Canadian-based junior mining company 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 ounces of gold and nearly 70,000 tonnes of copper. Troilus is located in
the top-rated mining jurisdiction of Quebec, Canada, where is holds a strategic land position of 1,420 km²
in the 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. The Company is advancing engineering studies following the completion of a robust PEA
in 2020, which demonstrated the potential for the Troilus project to become a top-ranked gold and copper
producing asset in Canada. Led by an experienced team with a track-record of successful mine
development, Troilus is positioned to become a cornerstone project in North America.