Troilus GOLD Corp. Intersects 1.34G/T AuEq over 34 Metres, Including 2.01 G/T AuEq over 6 Metres Below Z87 Open Pit ON Troilus Property, Quebec
TROILUS GOLD CORP. INTERSECTS 1.34G/T AUEQ OVER 34 METRES, INCLUDING 2.01 G/T
AUEQ OVER 6 METRES BELOW Z87 OPEN PIT ON TROILUS PROPERTY, QUEBEC
September 12, 2018, Toronto, Ontario – Troilus Gold Corp. (TSX-V: TLG) (“Troilus” or the
“Company”) is pleased to provide drilling results from its 100% owned Troilus gold and copper
property located Northeast of the Val-d’Or district in Quebec, Canada (the “Troilus Project”). The 36,000
metre drill program is designed to confirm and expand existing mineral resources from the historically
producing Troilus mine, as well as explore down dip and along strike from known mineralization.
Twelve (12) holes, totaling approximately 9,100 metres of drilling were designed to upgrade inferred
classified material to indicated, and to improve mineralized resolution below indicated mineral resource
estimates down dip from the historic producing open pit. Additionally, management believes success
from this series of drill holes may create new inferred classified material below currently classified
inferred resource estimates (Fig 1 & 2).
Highlights:
• 1.17 grams per tonne gold (g/t Au) and 0.11 percent copper (% Cu) for 1.34 grams per tonne
gold equivalent (g/t AuEq) over 34 metres, including 2.01 g/t AuEq over 6 metres within the
targeted Troilus Diorite in hole TLG-Z8718-010.
• 0.94 g/t gold and 0.04% Cu for 1.0 g/t AuEq over 42m, including 2.87 g/t AuEq over 3m and
2.12 g/t AuEq over 8m and 0.9 g.t gold and 0.08% Cu for 1.03 AuEq over 39m, including 2.68
g/t AuEq over 3 metres within the Troilus Diorite in hole TLG-Z8718-011
“Our program has been completed with 36,000 meters of drilling in 90 holes. Broad zones of
mineralization correlating well with historical results are providing increased confidence in our
program.” said Justin Reid, CEO of Troilus Gold Corp. “We continue to identify thick intervals of historic
mine-grade mineralization marked by materially higher-grade discreet zones as witnessed in our first
four (4) holes. A large backlog in the labs has now been cleared and we expect to quickly deliver the bulk
of our Z87, J4 and J5 results to the market in due course. Our understanding and interpretation of the
structural and stratigraphic controls of the Troilus mineralization has increased materially; all of which,
we believe, should add to an already robust mineral resource estimate.”
Logging and sampling at the Troilus Project site are nearing completion, with work expected to be
completed in the next couple months. A broad regional exploration program will follow focusing on
expanding known and new near surface targets. Results from the Winter/Spring drill program and
surface exploration will guide an expected Winter/Spring program at the start of 2019.
*Metal grades uncut
**AuEq based on $1300/oz Au, $3/lb Cu and 100% recovery. Au g/t + (Cu g/t * Cu price (g)) /Au price (g)
Figure 1: Plan view of initial seven holes at Z87 to confirm gold/copper historic results and focus
lithology
From (m) To (m) Length (m) Au g/t Cu % AuEq g/t
TLG-Z8718-008
616 677 61 0.69 0.10 0.85
incl 642 644 2 2.09 0.07 2.20
incl 654 657 3 2.18 0.14 2.40
incl 669 673 4 1.93 0.45 2.64
TLG-Z8718-009 617 661 44 0.82 0.09 0.96
incl 651 654 3 3.93 0.30 4.41
TLG-Z8718-010 654 688 34 1.17 0.11 1.34
incl 660 666 6 1.88 0.08 2.01
incl 679 685 6 1.74 0.30 2.21
TLG-Z8718-011 562 604 42 0.94 0.04 1.00
incl 565 568 3 2.76 0.07 2.87
incl 593 601 8 1.98 0.09 2.12
and 624 663 39 0.90 0.08 1.03
incl 635 639 4 2.00 0.19 2.30
incl 648 651 3 1.87 0.13 2.08
incl 660 663 3 2.47 0.13 2.68
Figure 2: Longitudinal section looking grid west showing piercing points from drilling in the inferred
categorization of resource estimates and below
Figure 3: Drill sections looking Northeast of drilling results from holes TLG-Z8718-010 and 011
Figure 3a: Drill hole sections
looking Northeast TLG-Z8718-010
(200 metre scale spacing)
Figure 3c: Drill hole sections looking
Northeast TLG-Z8718-011 (200 metre
scale spacing)
Figure 3d: Drill hole sections looking
Northeast TLG-Z8718-011 (20 metre scale
spacing)
Figure 3b: Drill hole sections looking
Northeast TLG-Z8718-010 (20 metre
scale spacing)
36,000 Metre 2018 Drill Program
Overview:
1) Zone 87 (Z87): Expand defined underground estimated mineral resource down dip and along
strike below the historic producing Z87 open pit.
2) Zone J4 (J4) & Zone J5 (J5): Expand estimated mineral resource below historic producing J4 and
J5 open pits to show potential near surface mineralization.
3) Southwest Zone: Based on historic drilling success, initiate near surface exploration 3.5 km
southwest of Z87 open pit along the Troilus Diorite boundary (Figure 2)
1) Z87:
From 1996 to 2010, Z87 produced the majority of the over 2 million ounces of gold and 70,000 tonnes of
copper produced at the Troilus Project. The Z87 pit was ultimately 350 metres deep and had a strike of
approximately 900 metres. The Z87 zone is the focus of the current underground estimated mineral
resource, representing over 1.6 million ounces of indicated and 360,000 ounces of inferred material (see
Figure 6).
Mineralization at the Troilus Project is hosted in breccias and amphibolite grade metamorphic rocks
within a much broader, 4.5 kilometre by 400 metre, metamorphosed diorite, known as the Troilus
Diorite. Fine-grained disseminated gold accounts for approximately 90% of mineralization at Troilus,
primarily as native gold and electrum with grains as large as 20 microns. Chalcopyrite, Pyrite, and
Pyrrhotite are broadly disseminated throughout the ore body, which are rarely associated with gold (<1-
3%). Vein-hosted gold accounts for approximately 10% of mineralization which are responsible for high
grade intercepts (>50gpt over 1 m) at Troilus.
The broad geology and style of mineralization at Z87 creates a large deposit area, nearly 1 kilometre
along strike and 30-50 metres wide (at depth), which remains open both along strike and down dip. The
2018 Winter/ Spring drill program at Z87 is designed to:
• Expand and infill certain areas of Troilus’ existing underground estimated mineral resource;
• Convert and upgrade inferred material along the flanks and down dip extension of underground
estimated mineral resources to an indicated category; and
• Expand down dip estimated mineral resources and show potential for further expansion through
focused infill and stepout drilling.
Figure 4: Z87, J4 and J5 Mineral Resource Constraining Shells. View Looking Northeast
2) J4 & J5:
J4 and J5, two smaller scale historic open pits located 200 metres and 1 kilometres directly Northeast of
Z87 are characterized by the same mineralization and geology as Z87; both remaining open at depth and
along strike.
Management believes the inherited Troilus database suggests the potential for additional near surface
mineralization at J4 and J5 and potentially signifies open pittable resource opportunities. The objective
of the Winter/ Spring drill campaign, at J4 and J5, is to expand the open pit and underground estimated
mineral resource below these lesser historic pits, with the intent of recognizing material that could
contribute to an early production scenario.
3) Southwest Zone
The Southwest Zone is located along the margin of the Troilus Diorite and surrounding volcanics, 3.5
kilometres Southwest of Z87 (Figure 4). Historically this area exhibited significant mineralization from
drilling including intercepts as high as 36m @ 1.23g/t Au, and 18m @ 1.06g/t Au. Historic drilling in this
area is limited, leaving the opportunity to explore, and potentially outline new mineralization at surface.
The Southwest Zone exemplifies near term, blue sky opportunity at Troilus, and will be the initial focus
of a significant, property wide exploration program. The Troilus Diorite remains underexplored and
highly prospective.
Figure 5: Troilus Project Geology and Target Map
Figure 6: Troilus Estimated Underground Resource
Notes:
1. CIM definitions were followed for Mineral Resources.
2. Mineral Resources were estimated at a cut-off grade of 0.8 g/t Au.
3. Mineral Resources were estimated using long-term metal prices of US$1,500 per ounce gold and US$3.50 per pound
copper; and an exchange rate of US$1.00 = C$1.1.
4. AuEq = (34.59 x Au grade + 54.02 x Cu grade)/ 34.59.
5. A recovery of 83% was used for gold and 92% for copper.
6. Numbers may not add due to rounding.
7. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of
Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical,
marketing, or other relevant issues.
Quality Control
During the Zone 87 drill program, one metre assay samples are taken from NQ core and sawed in half.
One-half is sent for assaying at AGAT Laboratory, a certified commercial laboratory, and the other half is
retained for results, cross checks, and future reference. A strict QA/QC program is applied to all samples;
which include insertion of one certified mineralized standard and one blank sample in each batch of 25
samples. The gold analyses were by fire-assay on 30 grams of pulp with an atomic absorption finish.
Repeats were carried out by fire-assay with a gravimetric finish on each sample containing 3.5 g/t Au or
more.
About Troilus Gold Corp.
Troilus is a Toronto-based, Quebec focused, advanced stage exploration and early-development
company focused on the mineral expansion and potential mine re-start of the former gold and copper
Troilus mine. The 4,700-hectare Troilus property is located northeast of the Val-d’Or district, within the
Frotêt-Evans Greenstone Belt in Quebec, Canada. From 1997 to 2010, Inmet Mining Corporation
operated the Troilus project as an open-pit mine, producing more than 2,000,000 ounces of gold and
nearly 70,000 tonnes of copper.
Qualified Person
The technical and scientific information in this press release has been reviewed and approved by Bruno
Perron, P.Eng., Senior Technical Manager, who is a Qualified Person as defined by National Instrument
43-101. Mr. Perron is an employee of Troilus and is not independent of the Company under National
Instrument 43-101.