Troilus Gold – Exploration Update At The Southwest Zone And Gap Zone
Justin Reid, CEO of Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF), joins us to recap some recent drill results from the Southwest Zone and Gap Zone at the Troilus Gold Project. Troilus holds a strategic land position of 142,000 ha (1,420 km²) northeast of the Val-d’Or district, within the Frôtet-Evans Greenstone Belt in Quebec, Canada.
On May 4th Troilus announced a headline number of 13.64 g/t AuEq over 3 meters, including 29.81 g/t over 1 meter, 2.42 g/t AuEq Over 6 meters, and 2.11 g/t AuEq Over 10 meters in the Southwest Zone. Most of this mineralization is outside of the PEA pit shell, and we discuss why these new ounces being delineated at surface can be so accretive to the economics and early mine plan for the Troilus Gold Project. In addition to exploration work being done at depth below the pit shell, and over at the Southwest Zone, there have also been promising drill results returned from the gap zone that may connect the two growing resource areas into one larger deposit. The exploration team is encouraged by the drilling they have been doing in this Gap Zone, with the 5 drill rigs turning there at present.
A significant catalyst coming for the company this year is the upcoming Resource Estimate, that will incorporate over 150,000+ meters of drilling completed since the last resource estimate, and this will also will include the inaugural reserve. In addition, the Company is continuing to work towards the Pre-Feasibility Study slated to be released to the market in July, which will wrap updated economics and projected production metrics on the overall project.