Troilus Gold – Exploration Update At The Southwest Zone And Gap Zone, Working On PFS For July
Blake Hylands, President of Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF), joins us to review some recent drill results near the Southwest Zone at the Troilus Gold Project; an advanced stage exploration and development project that is northeast of the Val-d’Or district, within the Frôtet-Evans Greenstone Belt in Quebec, Canada.
The Southwest Zone appears to be an analog of Z87, in the view of the exploration team, and they are starting to drill the Gap Zone between the existing resource and the Southwest Zone. Some recent drill assays announced from this region to the markets on April 21st were both 92 g/t and 68 g/t gold Over 1m, and 3.07 G/T AuEq Over 15m, Zone Extended +200m; Initial Gap Zone Drilling Returns 4.2 G/T AuEq Over 7m Gap. These higher-grade intercepts are shallow / near surface and have now expanded the Southwest Zone from 600 meters, at the time of the last PEA to roughly 2 kilometers.
We also discussed some of the projected guidance from the several years old PEA, like the targeted 22 year mine life producing around 200,000 – 250,000 ounces per year of gold production and 17-22 million pounds of copper per annum.
Blake mentioned that the cutoff for drilling to be included in the upcoming Pre-Feasibility Study due out by July of 2022, was last week. Since that last PEA the Company has drilled another 150,000 meters and greatly expanded the Southwest Zone, the precious metals prices are much higher, and there is a significant copper credit as well, so all of this will factor into the improved economics released on the PFS later this summer.