Troilus Drills 10.13 G/T AuEq over 10M Within Broader Interval of 1.80 G/T AuEq over 80M, and 1.15 G/T AuEq over 70M Incl. 3.54 G/T AuEq over 11M; Drilling Complete FOR MRE and Feasibility Study
TROILUS DRILLS 10.13 G/T AUEQ OVER 10M WITHIN BROADER INTERVAL OF 1.80 G/T AUEQ OVER
80M, AND 1.15 G/T AUEQ OVER 70M INCL. 3.54 G/T AUEQ OVER 11M; DRILLING COMPLETE FOR MRE
AND FEASIBILITY STUDY
September 7, 2023, Montreal, Quebec – Troilus Gold Corp. (“Troilus” or the “Company”, TSX: TLG ;
OTCQX: CHXMF) is pleased to report assay results from the X22 Zone (“X22”) at its Troilus Project, located
in northcentral Quebec, Canada. The results herein are from the Company’s drill campaign at X22, a body
of mineralization identified in late 2022 that originates at the Z87 open pit and extends to the southwest
into the Gap Zone , which has rapidly defined and expanded a high-grade NE-SW deformation corridor
that characterizes the zone.
The reported drill holes have further demonstrated continuity of mineralization between the high-grade
trends of this zone (see plan view in Figure 1 and section in Figure 2). The results reported today represent
the final set of drill holes from the X22 definition drill program and the data cut-off for inclusion in the
upcoming mineral resource estimate (“MRE”) . All results reported herein lie entirely outside of the PEA
pit shells and will be included in the MRE, on track for completion in the coming weeks.
Zone X22 Intercept Highlights:
▪ 10.13g/t AuEq over 10m within a broader intersection of 1.80 g/t AuEq over 80m confirming
mineral continuity ~300 metres from surface and remains open at depth (hole X22-23-071, see
Figure 2)
▪ 1.15g/t AuEq over 70m, including 11m of 3.54 g/t AuEq and 6m of 2.42 g/t AuEq and 0.96 g/t
AuEq over 17m, incl. 3.23 g/t AuEq over 1m (Hole X22-23-049, see Figure 2)
▪ 0.85 g/t AuEq over 44m including 1.79 g/t AuEq over 8m and 6.65 g/t AuEq over 1m (Hole X22-
23-061)
▪ 0.86 g/t AuEq over 32m including 1.43 g/t AuEq over 8m and 3.36 g/t AuEq over 3m within a
broader intersection of 0.89 g/t AuEq over 9m (Hole X22-23-048, see Figure 2)
▪ 1.02 g/t AuEq over 22m (Hole X22-23-054)
▪ 2.65 g/t AuEq over 3m within a larger interval of 0.77 g/t AuEq over 27m (Hole X22-23-064)
▪ 32.5 g/t AuEq over 1m and 12.4 g/t AuEq over 1m (Hole X22-23-075)
Justin Reid, CEO of Troilus Gold, commented, “Despite a challenging summer for the region as a result of
the forest fires, our team has continued to make significant headway in its exploration and development
activities. The now completed X22 drill program has rapidly delineated and expanded this zone and
returned extremely positive results with some of the highest grades and most continuous intercepts that
Troilus has seen to date, supporting our goal of creating value through near-pit drilling for resource growth
and conversion. X22 accounts for a small fract ion of the drilling at our project, however, has returned
exceptionally high grades, which we believe will present compelling opportunities for mine sequencing
and project payback. Our team is now working diligently to incorporate this new data into the geological
model for the MRE, which we expect to complete in the coming weeks.”
The X22 expansion and infill drilling program has defined and expanded the mineralization trend, which
now has a strike length of ~1km, having drilled 80 drill holes for a total of 23,256 metres since its initial
discovery in 2022 (see October 17, 2022, press release). These most recent results from X22 continue to
demonstrate the zone’s typical pattern of near-surface mineralization over wide intervals and showcase
continuity of mineralization between the previously reported holes. Mineralization at X22 is observed to
be structurally unique, distinct from the other zones at Troilus, which are dominantly hosted in volcanic
rocks and felsic porphyry dykes around the margins of the dioritic Troilus intrusion. X22 is hosted within
a more evolved tonalitic phase of the Troilus intrusion that lies along a prominent D2 structural corridor.
Where this corridor is intersected by earlier D1 structures, significant zones of mineralization have been
discovered. The occurrence of exceptional high grades at X22 is also of note, as the zone accounts for less
than 7% of total drilling executed at Troilus, but from which 60% of assay results have grades greater than
100 g/t AuEq.
All results from the recently completed drilling program at X22 have now been reported. Approximately
240,450 metres have been drilled since the 2020 MRE cut-off, focusing on growth and conversion of
mineral resources from the Inferred category to the Measured and Indicated categories. These results will
all be incorporated into an updated MRE, expected to be announced in the coming weeks, and included
in a Feasibility Study, expected to be complete by the end of 2023 or early 2024. With the X22 drilling now
complete, the Company has curtailed exploration activities to focus on mine development and the
progression of Federal and Provincial permitting processes. This will mean a decreased level of activity at
the Troilus site effective this week and through the winter. Regional exploration plans will be evaluated
in the Spring. This slowdown will also allow for some upgrades to camp infrastructure and repairs to the
hydroelectric transmission lines that were damaged by the forest fires this summer.
Figure 1: Plan View Map of Zone X22 Showing Current and Previously Reported Drilling
Figure 2: Section 12,625N (A-A’ Figure 1) Showing New Results for Holes X22-23-047, X22-23-048, X22-
23-049 and X22-23-071
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)
X22-23-039
70 72 2.0 outside 0.95 0.08 1.10 1.06
272 273 1.0 outside 1.24 0.04 1.70 1.30
X22-23-040
34 39 5.0 outside 0.92 0.09 0.75 1.04
incl 36 37 1.0 outside 2.31 0.17 1.40 2.54
201 202 1.0 outside 1.11 0.19 9.40 1.45
223 226 3.0 outside 0.57 0.16 1.50 0.78
243 246 3.0 outside 0.58 0.11 2.23 0.75
283 285 2.0 outside 1.61 0.10 2.95 1.77
incl 283 284 1.0 outside 2.35 0.12 4.20 2.55
317 321 4.0 outside 1.00 0.05 1.09 1.08
incl 317 318 1.0 outside 2.54 0.02 0.90 2.58
X22-23-041
24.2 27 2.8 outside 3.29 0.03 3.45 3.35
incl 24.2 25 0.8 outside 9.96 0.03 8.40 10.09
168 169 1.0 outside 2.57 0.17 1.60 2.80
197 198 1.0 outside 2.10 0.02 0.25 2.13
214 235 21.0 outside 0.78 0.05 1.04 0.85
incl 214 215 1.0 outside 1.66 0.07 2.07 1.76
incl 223 226 3.0 outside 0.90 0.05 1.02 0.98
incl 229 230 1.0 outside 1.72 0.14 4.10 1.93
incl 234 235 1.0 outside 1.86 0.02 0.25 1.89
288 289 1.0 outside 1.70 0.109 0.25 1.84
X22-23-047
25 26 1.0 outside 0.81 0.12 2.80 1.00
56 59 3.0 outside 1.43 0.22 4.80 1.76
incl 57 58 1.0 outside 2.27 0.29 5.80 2.70
70 71 1.0 outside 1.62 0.02 0.50 1.65
85 86 1.0 outside 4.14 0.28 17.70 4.68
88 89 1.0 outside 1.51 0.05 1.10 1.58
98 99 1.0 outside 1.04 0.07 0.70 1.14
101 103 2.0 outside 0.74 0.13 2.60 0.94
109 110 1.0 outside 1.53 0.24 5.70 1.89
125 129 4.0 outside 0.73 0.07 1.85 0.84
incl 125 126 1.0 outside 1.17 0.08 2.80 1.30
X22-23-048
37 39 2.0 outside 1.10 0.14 3.90 1.33
92 93 1.0 outside 1.04 0.19 3.70 1.32
101 133 32.0 outside 0.54 0.22 3.99 0.86
incl 106 107 1.0 outside 1.47 0.25 3.70 1.81
incl 116 117 1.0 outside 3.08 2.78 51.70 7.12
incl 125 133 8.0 outside 0.92 0.36 6.23 1.43
146 147 1.0 outside 2.31 0.26 3.60 2.68
160 169 9.0 outside 0.66 0.15 3.23 0.89
incl 165 166 1.0 outside 2.37 0.66 15.10 3.36
180 184 4.0 outside 0.90 0.12 3.75 1.09
X22-23-049
91 92 1.0 outside 0.67 0.20 3.24 0.96
99 103 4.0 outside 0.96 0.25 3.80 1.31
115 116 1.0 outside 3.00 0.16 2.40 3.23
165 235 70.0 outside 0.86 0.20 3.93 1.15
incl 165 176 11.0 outside 2.68 0.59 11.65 3.54
incl 178 179 1.0 outside 1.52 0.43 5.80 2.12
incl 193 199 6.0 outside 1.65 0.55 7.83 2.42
245 263 18.0 outside 0.71 0.12 3.59 0.89
incl 256 257 1.0 outside 2.94 0.276 8.7 3.38
X22-23-050
49 50 1.0 outside 1.25 0.07 0.70 1.34
X22-23-051
103 104 1 outside 1.08 0.14 0.70 1.26
110.75 111.9 1.15 outside 1.42 0.19 2.00 1.68
X22-23-052
97 98 1.0 outside 20.00 0.01 0.25 20.01
111 112 1.0 outside 1.83 0.18 0.90 2.07
196 202 6.0 outside 0.70 0.04 0.82 0.75
incl 199 200 1.0 outside 1.23 0.02 1.70 1.27
221 223 2.0 outside 0.84 0.12 4.25 1.04
incl 221 222 1.0 outside 1.12 0.21 7.60 1.46
243 244 1.0 outside 1.75 0.16 2.10 1.96
X22-23-053
158 162.5 4.5 outside 0.61 0.07 1.77 0.71
incl 158 159 1.0 outside 1.06 0.14 4.40 1.28
incl 160 161 1.0 outside 1.13 0.07 1.30 1.23
199 200 1.0 outside 1.26 0.06 0.50 1.34
223.8 240 16.2 outside 0.64 0.05 0.93 0.72
incl 223.8 227 3.2 outside 1.58 0.10 0.92 1.71
247 248 1.0 outside 1.14 0.08 1.30 1.25
254 257 3.0 outside 0.82 0.11 1.93 0.97
X22-23-054
95 117 22.0 outside 0.96 0.04 0.69 1.02
incl 97 98 1.0 outside 3.12 0.00 0.25 3.13
incl 112 113 1.0 outside 3.40 0.07 0.60 3.50
incl 115 116 1.0 outside 6.48 0.21 2.80 6.77
X22-23-055
32 33 1.0 outside 2.24 0.15 2.50 2.46
95 96 1.0 outside 1.12 0.09 0.80 1.24
125 127 2.0 outside 0.65 0.11 2.30 0.82
188 189 1.0 outside 1.73 0.11 13.80 2.01
X22-23-061
56 57 1.0 outside 0.93 0.00 0.25 0.94
153 197 44.0 outside 0.69 0.09 3.46 0.85
incl 153 161 8.0 outside 1.65 0.05 6.24 1.79
incl 153 154 1.0 outside 6.56 0.03 4.40 6.65
incl 176 177 1.0 outside 2.28 0.14 3.70 2.49
incl 186 189 3.0 outside 1.34 0.15 4.20 1.56
incl 196 197 1.0 outside 1.45 0.63 12.00 2.37
225 226 1.0 outside 1.16 0.10 11.60 1.41
X22-23-062
163 166 3.0 outside 0.70 0.08 0.36 0.81
incl 163 164 1.0 outside 1.04 0.09 0.70 1.15
X22-23-063
69 70 1.0 outside 0.95 0.12 1.60 1.11
168 169 0.6 outside 2.34 0.28 8.00 2.77
177 184 7.0 outside 0.63 0.05 1.23 0.70
incl 177 178 1.0 outside 1.23 0.07 0.90 1.32
incl 183 184 1.0 outside 1.44 0.17 2.30 1.68
193 194 1.0 outside 0.92 0.08 1.00 1.02
X22-23-064
40 45 5.0 outside 1.00 0.12 0.69 1.15
83 85 2.0 outside 1.16 0.01 0.25 1.18
120 120.2 0.2 outside 2.91 0.03 2.40 2.97
127 128 1.0 outside 0.85 0.12 3.00 1.04
142 143 1.0 outside 1.12 0.01 0.25 1.13
247 274 27.0 outside 0.74 0.02 0.38 0.77
incl 248 251 3.0 outside 2.48 0.12 1.32 2.65
incl 256 258 2.0 outside 1.45 0.02 0.25 1.48
incl 261 262 1.0 outside 1.19 0.00 0.25 1.19
X22-23-068
124 136 12.3 outside 0.61 0.11 2.58 0.78
incl 135 136.3 1.3 outside 2.20 0.28 6.50 2.62
169 179 10.0 outside 0.92 0.12 1.55 1.09
incl 170 171 1.0 outside 1.82 0.27 6.30 2.22
incl 176 177 1.0 outside 2.38 0.09 0.70 2.50
185 186 1.0 outside 0.97 0.07 0.25 1.06
214.2 218 3.8 outside 0.97 0.06 0.55 1.06
incl 216 217 1.0 outside 1.70 0.04 0.60 1.76
260 261 1.0 outside 2.15 0.05 0.60 2.22
293 294 1.0 outside 1.40 0.01 0.25 1.42
306 307 1.0 outside 0.94 0.08 1.90 1.06
X22-23-071
91 92 1.0 outside 7.67 0.12 1.80 7.83
212 213 1.0 outside 1.29 0.09 7.90 1.48
256 258 2.0 outside 4.36 0.08 1.65 4.48
incl 256 257 1.0 outside 6.53 0.03 1.10 6.58
309 389 80.0 outside 1.32 0.30 9.99 1.80
incl 322 323 1.0 outside 6.70 2.58 65.80 10.64
incl 379 389 10.0 outside 7.63 1.51 57.77 10.13
incl 379 382 3.0 outside 10.24 4.42 150.00 17.38
incl 379 380 1.0 outside 19.90 3.20 107.00 25.06
incl 388 389 1.0 outside 40.20 0.42 87.50 41.65
403 404 1.0 outside 2.17 0.17 9.30 2.48
X22-23-072
12 13 1.0 outside 1.33 0.03 0.25 1.37
60 68 8.0 outside 1.04 0.16 3.33 1.28
incl 62 63 1.0 outside 3.87 0.02 0.50 3.90
incl 66 67 1.0 outside 1.59 0.68 11.80 2.57
88 90 2.0 outside 0.89 0.22 2.75 1.20
101 110 9.0 outside 0.81 0.13 2.77 1.01
incl 101 102 1.0 outside 2.82 0.40 7.90 3.41
189 190 1.0 outside 0.91 0.03 1.00 0.96
X22-23-074
86 87 1 outside 5.02 0.20 2.00 5.29
177 178 1 outside 1.37 0.52 2.40 2.05
215 226 11 outside 0.87 0.10 2.73 1.02
incl 216.4 217.4 1.0 outside 5.79 0.40 18.00 6.48
262 263 1 outside 2.44 0.06 0.80 2.52
277 308 31 outside 0.72 0.08 1.32 0.84
incl 277 278 1 outside 2.38 0.16 2.20 2.61
incl 286 287 1 outside 1.52 0.35 9.90 2.06
incl 299 300 1 outside 5.80 0.40 3.50 6.34
323 324 1 outside 2.21 0.04 0.60 2.26
X22-23-075
97.4 98.4 1.0 outside 1.02 0.01 0.25 1.04
104 104.8 0.8 outside 32.40 0.04 1.20 32.46
*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 it holds a land position of 435 km² 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. 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
208 209 1.0 outside 1.08 0.07 1.40 1.18
230 231 1.0 outside 10.25 1.60 13.20 12.40
255 280 25.0 outside 0.72 0.05 0.61 0.79
incl 255 256 1.0 outside 9.54 0.09 1.80 9.67
incl 260 261 1.0 outside 1.69 0.14 1.70 1.88
incl 279 280 1.0 outside 1.03 0.05 0.50 1.09
313 314 1.0 outside 0.91 0.12 2.20 1.08
321 322 1.0 outside 1.25 0.08 1.50 1.37
328 337 9.0 outside 0.73 0.01 0.36 0.75
incl 328 329 1.0 outside 1.99 0.00 0.25 2.00
incl 336 337 1.0 outside 2.71 0.05 1.20 2.79
X22-23-076
240 241 1.0 outside 2.33 0.48 4.40 2.97
367 369 2.0 outside 0.87 0.08 0.90 0.97
412 441 29.0 outside 0.65 0.11 0.88 0.79
incl 414 417 3.0 outside 0.96 0.18 1.53 1.19
incl 433 434 1.0 outside 1.69 0.24 1.80 2.01