Troilus GOLD Corp. Intersects 2.04G/T AuEq over 44 Metres, Including 6.94 G/T AuEq over 4.7 Metres, and 1.71 G/T AuEq over 47 Metres, Including 8.08 G/T AuEq over 3.9 Metres Below Z87 Open Pit ON Troilus Property, Quebec
TROILUS GOLD CORP. INTERSECTS 2.04G/T AUEQ OVER 44 METRES, INCLUDING 6.94 G/T AUEQ OVER
4.7 METRES, AND 1.71 G/T AUEQ OVER 47 METRES, INCLUDING 8.08 G/T AUEQ OVER 3.9 METRES
BELOW Z87 OPEN PIT ON TROILUS PROPERTY, QUEBEC
May 24, 2018, Toronto, Ontario – Troilus Gold Corp. (TSX-V: TLG) (“Troilus” or the “Company” ) is
pleased to provide results from the first two (2) holes drilled at its 100% owned Troilus gold and
copper property located Northeast of the Val-d’Or district in Quebec, Canada (the “Troilus Project”).
The 30,000 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.
The first seven (7) holes drilled at the Troilus Project were designed to confirm the lower extent of gold
and copper results from historic drilling below the Z87 open pit and to develop a better understanding
of mineralization and lithological characteristics of the Troilus deposit to guide next phases of drilling
(Fig 1&2).
Highlights from holes TLG-Z8718-001, and 002:
• 1.7 grams per tonne gold (g/t Au) and 0.213 percent copper (% Cu) for 2.04 grams per tonne
gold equivalent (g/t AuEq) over 44 metres, including 6.94 g/t AuEq over 4.7 metres within the
targeted Troilus Diorite in hole TLG-Z8718-001.
• 1.49 g/t gold and 0.138% Cu for 1.71 g/t AuEq over 47m, including 8.08 g/t AuEq over 3.9m
within the Troilus Diorite in hole TLG-Z8718-002
“Our initial drilling has returned excellent results not only confirming our defined resource but
extending the limits of the mineralization. Mineralization within this main corridor shows great
continuity and predictability beyond our current understanding.” said Justin Reid, CEO of Troilus Gold
Corp. “We are identifying thick intervals of historic mine grade mineralization marked by materially
higher-grade discreet zones as witnessed in holes 1 and 2.”
There are presently three drills operating at the Troilus Project, having completed 20,000 of the planned
30,000 metres of drilling. Sampling from over 35 holes have been sent to laboratory for assaying. Results
are now through initial processing delays and are expected to be received consistently over the coming
weeks. Drilling below the J4/J5 historic open pits to show down dip expansion are nearing completion,
as well as deep extensions below the current estimated inferred mineral resource at Z87.
Figure 1: Plan view of initial seven holes at Z87 to confirm gold/ copper historic results and focus lithology
From to Width True Au g/t Cu % AuEq g/t
TLG-Z8718-001 463.87 509 45.13 44 1.7 0.213 2.04
Incl 472.2 477 4.8 4.7 6.09 0.535 6.94
TLG-Z8718-002 476 524 48 47 1.49 0.138 1.71
Incl 487 491 4 3.9 7.33 0.473 8.08
*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 2: Drillhole sections looking North East of drilling results from holes TLG-Z8718-001 and 002.
Figure 2a: Drillhole sections looking North East
TLG-Z8718-001 (200 metre scale spacing)
Figure 2c: Drillhole sections looking North East
TLG-Z8718-002 (200 metre scale spacing)
Figure 2d: Drillhole sections looking North East
TLG-Z8718-002 (20 metre scale spacing)
Figure 2b: Drillhole sections looking North East
TLG-Z8718-001 (20 metre scale spacing)
30,000 Metre Winter/ Spring 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)
Figure 3: Z87, J4 and J5 Mineral Resource Constraining Shells. View Looking Northeast
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.
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, 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: Troilus Project Geology and Target Map
2) J4 & J5:
J4 and J5, two smaller scale historic open pits located 200 metres and 1kilometres 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.
Quality Control
During the 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 Gold is a Canadian based development stage resource company focused on the potential restart
and mineral expansion of the former producing Troilus Project. The 4,700 hectare Troilus property is
located North East 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
For more information:
Spyros Karellas
Communications Manager
+1 (416) 433-5696
Cautionary statements
Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no
certainty that all or any part of Mineral Resources will be converted to Mineral Reserves. Inferred Mineral
Resources have a lower level of confidence that that applied to an Indicated Mineral Resource and must
not be converted to a Mineral Reserve. Quantity and grades are estimates and are rounded to reflect the
fact that the Mineral Resource Estimate is an approximation. For more information with respect to the key
assumptions, parameters and risks associated with the mineral resource estimates discussed herein, see
the Company’s technical report entitled “Technical Report on the Troilus Gold Copper Mine Mineral
Resource Estimate, Quebec, Canada” dated November 20, 2017 (the “Technical Report”) available under
the Company’s profile at www.sedar.com.
This press release contains “forward-looking information” within the meaning of applicable Canadian
securities legislation. Forward-looking information includes, but is not limited to, statements regarding ,
the impact of drill results and mineral resources estimate on the Company, the projected economics of the
project, and the Company’s understanding of the project; statements with respect to the development
potential and timetable of the project; the estimation of mineral resources; realization of mineral resource
estimates; the timing and amount of estimated future exploration; costs of future activities; capital and
operating expenditures; success of exploration activities; government regulation of mining operations; and
environmental risks and the receipt of any required regulatory approvals. Generally, forward-looking
information 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”, “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”, “might” or “will be taken”, “occur” or “be achieved”.
Forward-looking information is subject to known and unknown risks, uncertainties and other 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 information, 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; 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 Technical Report and 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 information, there may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such information 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 information. Pitchblack and
Troilus do not undertake to update any forward-looking information, except in accordance with applicable
securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.