Troilus Intersects 2.26 G/T AuEq over 24 Metres Less Than 120 Metres from Surface, Defining a New Zone of Mineralization 3.5 Kms Southwest of Z87 Pit
TROILUS INTERSECTS 2.26 g/t AuEq OVER 24 METRES LESS THAN 120 METRES FROM SURFACE,
DEFINING A NEW ZONE OF MINERALIZATION 3.5 KMS SOUTHWEST OF Z87 PIT
January 28, 2020, Toronto, Ontario – Troilus Gold Corp. (TSX: TLG; OTCQB: CHXMF) (“Troilus” or the
“Company”) is pleased to announce results from its recent 2,500 metre drill program in the Southwest
Zone (the “Southwest Zone”) at its 100%-owned Troilus property (the “Troilus Project”) located northeast
of Chibougamau, Quebec . All seven drill holes successfully intersected gold including high -grade
intersections and demonstrated geology similar to that of Z87. Initial drilling at the Southwest Zone tested
an area of 500m x 250m located just 3.5 kilometres south of the Z87 pit and readily accessible from the
existing mine road (see Figures 1 & 2).
Highlights from the Southwest Zone include*:
▪ 2.87 g/t AuEq over 17 metres within a broader section of 2.26 g/t AuEq over 24 metres in hole
TLG-ZSW19-177 (see Figure 3)
▪ 2.31 g/t AuEq over 7 metres within a broader section of 1.02 g/t AuEq over 31.7 metres in hole
TLG-ZSW19-173 (see Figure 4)
▪ 6.87 g/t AuEq over 1 metre, 3.67 g/t AuEq over 2 metres and 1.97 g/t AuEq over 2 metres within
a broader section of 1.40 g/t AuEq over 17 metres in hole TLG-ZSW19-175
▪ 10.78 g/t AuEq over 1 metre within a broader section of 2.51 g/t AuEq over 5 metres in hole
TLG-ZSW19-175
▪ 10.20 g/t AuEq over 2 metres within a broader section of 0.97 g/t over 38 metres and 4.62 g/t
AuEq over 1 metre within a broader section of 1.34 g/t AuEq over 5.2 metres in hole TLG -
ZSW190179
*See Table 1 for all drill intercepts
Justin Reid, Chief Executive Officer of Troilus commented, “We are very pleased with these initial results
from the Southwest Zone. This short drill campaign has identified a sizeable new zone of mineralization
targeted from our regional ground exploration program. The Southwest Zone exhibits similar geology and
mineralization to that of the Z87 pit located just 3.5 km away, where almost 2 million ounces of gold was
produced historically. All seven drill holes have returned mineralized intersections worthy of follow up.
In light of these results, we plan to immediately expand upon this initial work with more focused drilling
in the area . It is our view that the Southwest Zone may have the potential to add to Troilus’ already
compelling estimated mineral resource s at the Troilus Project which include 4.71 million ounces of
Indicated gold equivalent and 1.76 million ounces of Inferred gold equivalent as announced in November
of last year.” (see press release dated November 12, 2019)
Mr Reid continued, “ The Southwest Zone has always been thought to represent a near-term blue-sky
opportunity at Troilus. This general area was sporadically drilled from 1986 to 2000 with results exhibiting
the potential for significant mineralization; including intercepts as high as 36m at 1.23g/t Au, and 18m at
1.06g/t Au. A showing in the Southwest Zone , coined the “S and Pit”, discovered during the 2018 field
campaign (see press release dated December 4th, 2018) coupled with our new structural interpretation of
the mineralized system in this area, were the foundation for this program.”
“These results were achieved by applying the same structural model used at Z87 and J Zones, where we
have been able to add in excess of 2.7 million ounces in the estimated Indicated mineral resource category
and 1.06 million ounces in the estimated Inferred mineral resource categoy over the last 24 months ,”
commented Blake Hylands, SVP Exploration for Troilus. “These results support management’s belief that
the Troilus deposit extends well beyond the known zones of mineralization . We continue to move away
from the genetic model that had previously defined the deposit and focus on the controls that host
mineralization. The Southwest Zone was our opportunity to take what we have learned over the last two
years and attempt to answer questions in an area that had been known, but misunderstood since the
discovery of the Troilus mine complex. The team is excited to grow the Southwest Zone and to apply this
same exploration approach along the more than 20 kilometre untested trend.”
Based on these ini tial results, Troilus will undertake further exploration with another 4,000 to 5,000
metres of drilling planned for the Southwest Zone. The objective of this additional drilling will be to cover
a larger area and confirm that the mineralization being obse rved is homogeneous throughout. The
Company has engaged the services of drilling company Forages Chibougamau Ltée. and two drills have
been mobilized at site.
Figure 1: Plan view of Troilus Property Showing Mineral Resource Areas, Geological and Structural
Interpretation of Mineralized Zones. Drilling is underway in the Southwest zone which is 3.5 kilometres
south of Z87 and accessible from the main road.
Figure 2: Southwest drill hole locations.
Figure 3: Section view of drill hole TLG-ZSW19-177.
Figure 4: Section view of drill holes TLG-ZSW19-173 and TLGZSW19-174.
Table 1: Summary of Southwest Zone Drill Results
Hole From (m) To (m) Interval
(m)*
Au Grade
(g/t)
Cu Grade
(%)
AuEq Grade
(g/t)
TLG-ZSW19-173
120 139 19 0.523 0.034 0.58
175 179 4 0.411 0.010 0.43
185 188 3 0.670 0.000 0.67
214 219 5 0.831 0.010 0.85
232.3 264 31.7 0.995 0.013 1.02
incl. 253 260 7 2.263 0.029 2.31
269 277 8 1.105 0.029 1.15
incl. 272 275 3 2.360 0.027 2.40
317 321 4 0.473 0.345 1.01
TLG-ZSW19-174
8.5 14 5.5 0.739 0.02 0.77
incl. 10 11 1 2.310 0.060 2.40
31 43 12 0.825 0.009 0.84
incl. 31 33 2 2.160 0.000 2.16
and 40 41 1 2.060 0.020 2.08
63 81 18 0.697 0.043 0.77
incl. 63 65 2 1.277 0.040 1.34
and 77 81 4 1.409 0.104 1.57
168 171 3 1.064 0.013 1.09
TLG-ZSW19-175
37 54 17 0.438 0.129 0.64
70 74 4 0.541 0.133 0.74
99 116 17 1.315 0.056 1.40
incl. 99 101 2 1.935 0.025 1.97
and 104 105 1 6.730 0.090 6.87
and 112 114 2 3.295 0.240 3.67
124 126 2 0.665 0.08 0.79
134 143 9 0.428 0.007 0.44
168 173 5 2.457 0.032 2.51
incl. 172 173 1 10.600 0.110 10.78
TLG-ZSW19-176
109 113 4 2.118 0.010 2.13
143 147 4 0.468 0.013 0.49
TLG-ZSW19-177
36 38 2 1.003 0.000 1.01
81 86 5 0.456 0.044 0.53
103 107 4 0.522 0.055 0.61
121 145 24 1.799 0.299 2.26
incl. 121 138 17 2.239 0.412 2.87
and 142 145 3 1.313 0.017 1.34
214 218 4 0.731 0.045 0.80
333 336 3 0.536 0.120 0.72
344 361 17 0.363 0.040 0.43
375 378 3 0.742 0.087 0.88
TLG-ZSW19-178
128 134 6 1.032 0.008 1.05
and 133 134 1 4.270 0.010 4.29
193 224 31 0.467 0.029 0.51
and 198 203 5 1.368 0.104 1.53
TLG-ZSW19-179
64 66 2 1.575 0.000 1.58
179 217 38 0.884 0.053 0.97
incl. 204 206 2 10.065 0.085 10.20
222 226 4 0.444 0.052 0.53
237 239 2 1.653 0.400 2.28
284 286 2 1.570 0.100 1.73
293.8 299 5.2 1.158 0.116 1.34
incl. 298 299 1 4.290 0.210 4.62
*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 Southwest Zone drill program in 2019, 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 wss 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 Bertrand
Brassard, M.Sc., P.Geo., Senior Project Geologist, who is a Qualified Person as defined by NI 43-101. Mr.
Brassard is an employee of Troilus and is not independent of the Company under NI 43-101.
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 16,000-hectare Troilus property is located northeast of Chibougamau, within the Frotêt-Evans
Greenstone Belt in Quebec, Canada. From 1996 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.
For more information:
Paul Pint
President
+1 (416) 602-1050
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.
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 planned drill program and results on the Company, the possible economics of the project