Troilus Drills 4.40 G/T AuEq over 12 Metres Within a Broader Intersection of 2.10 G/T over 31 Metres IN the J Zone; Confirms +50 Metre Down Dip Mineral Extension
TROILUS DRILLS 4.40 G/T AUEQ OVER 12 METRES WITHIN A BROADER INTERSECTION OF 2.10 G/T
OVER 31 METRES IN THE J ZONE; CONFIRMS +50 METRE DOWN DIP MINERAL EXTENSION
September 21, 2021, Toronto, Ontario – Troilus Gold Corp. (TSX: TLG; OTC QX: CHXMF) (“Troilus” or the
“Company”) reports additional results from its ongoing exploration and infill drill program on its 100%-
owned Troilus Gold Project (“Troilus” or the “Project”), which hosts one of the largest undeveloped gold
and copper deposits in Quebec, Canada. New results from the J Zone have further confirmed and
expanded a parallel zone of mineralization on the western side of the main ore body by up to 50 metres
down dip. This new parallel zone of mineralization can be traced over an 850-metre strike length, and is
located primarily within the Preliminary Economic Assessment (“PEA”) pit shell. The J Zone continued to
be a priority exploration target in 2021 as the Company prepares for the upcoming release of an updated
mineral resource estimate and inaugural reserve.
Highlights from the new J Zone drill results include:
ZJ21-244 and ZJ21-245 confirms west trend and main zone at depth, and increases drill density
within the PEA pit shell which is expected to help upgrade Inferred to Indicated mineral
resources in upcoming new estimate (see Figure 2 cross section). Highlights include:
o 2.10 g/t AuEq over 31 metres, incl. 4.40 g/t AuEq over 12 metres and 27.05 g/t AuEq
over 1 metre
ZJ21-247, ZJ21-250, ZJ21-251 and ZJ21-252 extend mineralization down dip up to 50 metres,
primarily within the PEA pit shell. Highlights include:
o 1.70 g/t AuEq over 16 metres, incl. 4.16 g/t AuEq over 5 metres and 14.73 g/t AuEq
over 1 metre
o 1.10 g/t AuEq over 18 metres, incl. 1.60 g/t AuEq over 9 metres
o 2.29 g/t AuEq over 4 metres
“We’re pleased with the continue d excellent results from the western extension of the J Zone, which
further confirm and expand the new parallel zone of mineralization we ’ve delineated over the last 12
months. This growing parallel zone is expected to positively impact the strip ratio and overall economics
of the project in the upcoming Pre-Feasibility Study, as the majority of the 850-metre zone defined so far
is located in areas of the PEA pit shell that were previously conside red waste,” commented Justin Reid,
President and CEO of Troilus Gold.”
The J Zone exploration target includes the smaller of the two formerly mined open pits at Troilus. In 2019,
the Company had tremendous drilling success in this zone by applying a new geological model derived
from two years of drill analysis, which highlighted the importance of structural controls on gold and
copper. This exploration program contributed a significant open-pit resource to the Preliminary Economic
Assessment completed in August 2020. Over 81,450 metres have been drilled since the 2020 mineral
resource estimate cut off, and the Company intends to continue drilling at a rate of approximately 10,000
metres per month until the end of the year with the intention to include as much of this new data into
the upcoming mineral resource estimate and pre-feasibility study as possible.
Figure 1: Plan View Map of J Zone with Location of New Drill Results
Figure 2: J Zone, Section N15075; View of drill holes TLG-ZJ21-244 and TLG-ZJ21-245
Table 1: New J Zone 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)
TLG-ZJ21-244
82 110 28 Inside 0.76 0.07 1.42 0.87
including 86.75 103 16.25 Inside 1.03 0.09 1.88 1.16
and 102 103 1 Inside 8.10 0.04 2.00 8.17
142 142.6 0.6 Inside 0.83 0.20 2.00 1.12
250 252 2 Inside 1.01 0.10 1.05 1.16
280 311 31 Inside 2.04 0.04 0.44 2.10
including 299 311 12 Inside 4.35 0.04 0.49 4.40
and 309 310 1 Inside 27.00 0.03 1.00 27.05
340 341 1 Outside 1.20 0.13 1.90 1.39
TLG-ZJ21-245
97 106 9 Inside 0.82 0.02 0.28 0.84
including 97 98 1 Inside 4.22 0.01 0.25 4.23
123 151 28 Inside 0.38 0.07 1.29 0.49
including 127 138 11 Inside 0.50 0.08 1.70 0.62
and 127 128 1 Inside 1.12 0.08 2.00 1.24
and 137 138 1 Inside 1.18 0.07 1.10 1.27
TLG-ZJ21-247
140 158 18 Inside 0.98 0.07 1.94 1.10
including 142 151 9 Inside 1.45 0.10 2.41 1.60
and 150 151 1 Inside 9.08 0.06 2.50 9.19
207 208 1 Outside 0.74 0.25 3.80 1.10
217 218 1 Outside 4.89 0.01 0.25 4.91
TLG-ZJ21-250
119 125 6 Inside 1.12 0.03 0.52 1.17
including 121 124 3 Inside 1.74 0.03 0.67 1.79
154 166 12 Inside 1.04 0.05 1.81 1.12
including 159 165 6 Inside 1.43 0.05 1.69 1.51
177 178 1 Inside 1.69 0.04 1.00 1.75
TLG-ZJ21-251
138 154 16 Inside 1.63 0.05 1.01 1.70
including 148 153 5 Inside 4.07 0.06 1.14 4.16
and 148 149 1 Inside 14.65 0.05 1.50 14.73
174 178 4 Inside 2.14 0.10 2.16 2.29
including 175 176 1 Inside 6.31 0.13 4.00 6.53
197 198 1 Inside 0.86 0.12 1.60 1.04
213 214 1 Outside 1.58 0.06 1.10 1.67
TLG-ZJ21-252
129 130 1 Inside 1.42 0.04 0.25 1.47
160 176 16 Inside 0.74 0.03 0.92 0.79
including 165 167 2 Inside 1.03 0.03 1.25 1.08
and 171 175 4 Inside 1.24 0.03 1.05 1.29
*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 J Zone drill program in 2021, one metre 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 Kyle
Frank, P.Geo., Senior Geologist, who is a Qualified Person as defined by NI 43-101. Mr. Frank 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.
For more information:
Caroline Arsenault
VP Corporate Communications
+1 (647) 407-7123
Cautionary Note Regarding Forward-Looking Statements and Information
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability; the estimate of
Mineral Resources in the updated Mineral Resource statement may be materially affected by environmental,
permitting, legal, title, taxation, socio -political, marketing, or other relevant issues. There is no certainty that the
Indicated Mineral Resources will be converted to the Probable Mineral Reserve category, and there is no certainty
that the updated Mineral Resource statement will be realized.
The PEA is preliminary in nature, includes inferred mineral resources that are considered too speculative geologically
to have the economic considerations applied to them that would enable them to be categorized as mineral reserves,
and there is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have
demonstrated economic viability. The PEA is subject to a number of risks and uncertainties. See below and the
Company’s latest technical report available on SEDAR for more information with respect to the key assumptions,
parameters, methods and risks of determination associated with the foregoing.
This press release contains “forward- looking statements” within the meaning of applicable Canadian securities
legislation. Forward -looking statements include, but are not limited to, statements regarding the impact of the
ongoing drill program and results on the Company, the possible economics of the project and the Company’s
understanding of the project; the development potential and timetable of the project; the estimation of mineral
resources; realization of mineral resource estimates; the timing and amo unt of estimated future exploration; the
anticipated results of the Company’s ongoing 2021 drill program and their possible impact on the potential size of
the mineral resource estimate; costs of future activities; capital and operating expenditures; success of exploration
activities; the anticipated ability of investors to continue benefiting from the Company’s low discovery costs, technical
expertise and support from local communities . Generally, forward-looking statements can be identified by the use
of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”,
“estimates”, “forecasts”, “intends”, “continue”, “anticipates” or “does not anticipate”, or “believes”, or variations of
such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “will”, “might”
or “will be taken”, “occur” or “be achieved”. Forward-looking statements are made based upon certain assumptions
and other important facts that, if untrue, could cause the actual results, performances or achievements of Troilus to
be materially different from future results, performances or achievements expressed or implied by such statements.
Such statements and information are based on numerous assumptions r egarding present and future business
strategies and the environment in which Troilus will operate in the future. Certain important factors that could cause
actual results, performances or achievements to differ materially from those in the forward- looking statements
include, amongst others, currency fluctuations, the global economic climate, dilution, share price volatility and
competition. Forward-looking statements are subject to known and unknown risks, uncertainties and other important
factors that may cause the actual results, level of activity, performance or achievements of Troilus to be materially
different from those expressed or implied by such forward -looking statements, including but not limited to: there
being no assurance that the exploration program will result in expanded mineral resources; risks and uncertainties
inherent to mineral resource estimates; the impact the COVID 19 pandemic may have on the Company’s activities
(including without limitation on its employees and suppliers) and the economy in general; the impact of the recovery
post COVID 19 pandemic and its impact on gold and other metals; the receipt of necessary approvals; general
business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour
disputes and shortages; environmental and other risks of the mining industry, including without limitation, risks and
uncertainties discussed in the most recent Technical Report and in other continuous disclosure documents of the
Company available under the Company’s profile at www.sedar.com. Although Troilus has attempted to identify
important factors that could cause actual results to differ materially from those contained in forward -looking
statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on
forward-looking statements. Troilus does not undertake to update any forward- looking statements, except in
accordance with applicable securities laws.