Troilus GOLD Corp. Intersects 2.3 G/T AuEq over 17 Metres 135 Metres from Surface Below J4 Open Pit at Troilus GOLD Property, Quebec
TROILUS GOLD CORP. INTERSECTS 2.3 G/T AUEQ OVER 17 METRES 135 METRES FROM
SURFACE BELOW J4 OPEN PIT AT TROILUS GOLD PROPERTY, QUEBEC
November 7, 2018, Toronto, Ontario – Troilus Gold Corp. (TSX: TLG) (OTCQB: CHXMF) (“Troilus” or
the “Company”) is pleased to provide further 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”). A
36,000 metre drill program was designed to confirm and expand existing mineral resources from the
historically producing Troilus mine, as well as to explore the down dip and strike extension of historic
mineralization.
Thirty-three (33) holes, totaling approximately 9,000 metres of drilling were designed to test the down
dip continuity and strike extension of mineralization at J4 Zone (Fig 3). The program was also designed
to add drill hole information where historic data was limited and/or incomplete. The J4 Zone was the
smaller of the two main open pits developed at Troilus during operation. At its deepest, the J4 Zone only
reached 156 metres in total depth, compared to Z87 which reached a depth of over 350 metres. Drilling
from these holes has tested a depth of only 230 metres and showed sustained strength of mineralization
to depth while remaining open down-dip.
The seventeen (17) holes contained in this press release, represent the drilling completed on the
Northern half of the J4 Zone open pit target area; located directly South of the J5 Zone drilling shown in
previous release (see Company’s press release dated September 20, 2018, Drill hole Table) (Fig 1). All 17
holes intersected gold mineralization and show i) near surface potential at J4 Zone, which may represent
the opportunity for open pit scenarios at Troilus, and ii) mineralization continuity at depth, creating
growth potential beyond the limits of what was previously estimated (Fig 2).
Highlights:
• TLG-J4-062 – 2.16 g/t gold and 0.09% Cu for 2.3 g/t AuEq over 17 metres, including 4.19 g/t
AuEq over 5 metres; 1.15 g/t gold and 0.03% Cu for 1.2 g/t AuEq over 9 metres less than 200
metres from surface
• TLG-J4-057 – 1.43 g/t gold and 0.1% Cu for 1.59 g/t AuEq over 31 metres, including 6.2 g/t
AuEq over 1 metre less than 200 metres from surface
• TLG-J4-056 – 3.2 g/t gold and 0.1% Cu for 3.36 g/t AuEq over 7 metres, including 8.27 g/t AuEq
over 2 metres; 1.55 g/t Au and 0.01% Cu for 1.57 g/t AuEq over 5 metres less than 60 metres
from surface, along strike of J4
“We are very excited to see these near surface results” said Justin Reid, CEO of Troilus Gold Corp. “J4
and J5 (collectively the J Zones) are creating new opportunities for Troilus as we consider not only the
potential for open-pits but also for the generation of future exploration targets.”
The 2018 drilling program has completed at the Troilus Project. Ninety-one (91) diamond drill holes
were completed for a total of over 36,000 metres of drilling and over 26,800 samples. An updated
mineral resource is currently underway and is planned to be released before the end of 2018. Regional
exploration has now been completed, with samples and mapping expected to form the basis of the 2019
Drill Program, which has been established in conjunction with drilling results and the resultant resource
update.
Figure 1: Geologic plan map showing location of main target across TLG land package
Figure 2: Longitudinal section showing drill hole pierce points
NE SW
Figure 3: Property plan map showing location of significant drill results
Figure 4: Cross Section showing drill results and typical geology of J4 at Troilus Gold Project
J4
From To Length Au Cu AuEq
TLG-ZJ418-051 151 156 5 1.1 0.07 1.23
and 164 167 3 0.9 0.00 0.95
TLG-ZJ418-052 108 116 8 1.3 0.03 1.34
TLG-ZJ418-053 43 46 3 0.7 0.03 0.75
and 59 62 3 0.6 0.04 0.63
TLG-ZJ418-054 153 159 6 1.5 0.01 1.50
incl 153 154 1 5.0 0.02 5.04
TLG-ZJ418-055 90 92 2 0.6 0.41 1.30
TLG-ZJ418-056 49 56 7 3.2 0.10 3.36
incl 50 52 2 8.0 0.18 8.27
and 66 71 5 1.6 0.01 1.57
incl 66 67 1 3.3 0.01 3.31
TLG-ZJ418-057 154 159 5 0.8 0.15 1.02
and 175 178 3 0.9 0.10 1.07
and 199 230 31 1.4 0.10 1.59
incl 202 203 1 4.3 0.20 4.59
incl 213 214 1 3.8 0.13 4.04
incl 226 227 1 6.2 0.02 6.20
incl 229 230 1 3.1 0.05 3.13
TLG-ZJ418-058 79 89 10 0.5 0.09 0.65
and 255 274 19 0.8 0.06 0.85
incl 266 268 1.65 2.3 0.04 2.36
and 277 282 5 0.9 0.02 0.89
TLG-ZJ418-059 178 181 2.92 0.8 0.07 0.96
and 184 187 3 0.6 0.06 0.66
TLG-ZJ418-060 48 53 5 0.7 0.07 0.81
and 248 255 7 0.9 0.07 1.00
TLG-ZJ418-061 29 33 4 0.7 0.05 0.76
and 35 38 3 2.1 0.11 2.22
and 65 71 6 0.7 0.13 0.94
and 233 239 6 1.5 0.03 1.57
TLG-ZJ418-062 144 149 5 0.6 0.04 0.63
and 176 193 17 2.2 0.09 2.30
incl 184 189 5 4.0 0.12 4.19
and 210 219 9 1.2 0.03 1.20
TLG-ZJ418-063 96 101 5 1.1 0.08 1.19
incl 98 99 1 2.7 0.09 2.84
and 159 165 6 1.2 0.09 1.29
and 229 237 8 1.7 0.03 1.75
incl 236 237 1 6.8 0.02 6.81
and 243 245 2 0.7 0.05 0.75
TLG-ZJ418-079 54 56 2 3.4 0.10 3.57
and 209 217 8 1.0 0.03 1.09
incl 214 215 1 3.1 0.04 3.16
TLG-ZJ418-080 119 121 2 1.0 0.10 1.15
TLG-ZJ418-081 101 104 3 0.6 0.10 0.77
and 110 114 4 2.0 0.18 2.30
and 132 135 3 0.9 0.05 0.96
and 197 203 6 1.0 0.03 1.07
and 224 227 3 5.2 0.01 5.27
incl 226 227 1 14.6 0.01 14.57
TLG-ZJ418-082 45 50 5 1.3 0.03 1.31
*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)
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) J Zones (J4 and J5 Zones): 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
kilometre 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 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
(Figure 5).
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.
8. Drilling has been done to intercept mineralized zone at true width. The difference between true and drill width is too small to impact intervals stated.
Figure 5: Troilus Estimated Underground Resource
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 mineralized 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 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 resource and show potential for further expansion through
focused infill and step out drilling.