Apr 5 2022Reviewed by Alex Smith
Troilus Gold Corp. has declared “drill results from its high-grade gold-copper-silver Testard target located approximately 10 km south of the main mineral corridor and former mine site,” according to Globex Mining Enterprises Inc.
Location of Troilus Drill Holes. Image Credit: Globex Mining Enterprises Inc.
The new gold discovery was made on a group of five Globex royalty property cells obtained from Globex in 2020 against the background of a bigger 91-cell acquisition deal declared by Globex on July 21st, 2020, in a press release. Globex obtained 350,000 Troilus shares as part of the deal, as well as a 2% Gross Metal Royalty, of which 1% can be procured for $1 million.
According to a Globex press release dated February 9th, 2022, the discovery is 400 m from the key Testard surface showing and is also on Globex’s Royalty cells.
Troilus reports on the main Testard surface in a press release dated March 31st, 2022, that “drill hole TES-21-005 targeted and intersected gold bearing structures at depth below previously sampled outcrop. Intercept highlights include 6.72 g/t gold over 3.2 m, including 17.3 g/t gold over 0.7 m.”
A new gold discovery was made 400 m northwest of the main Testard outcrop, where earlier, described grab samples assayed 203.0 g/t Au, 2,440 g/t Ag, and 4.37% Cu, and channel samples assayed 5.4 g/t Au over 2 m, which include 19.5 g/t Au over 0.5 m.
TES-21-001 and TES-21-002, two new gold discovery drill holes, “intersected gold-rich quartz veins.” Troilus has reported the following tests:
Hole TES-21-002 intersected:
- 7.12 g/t gold over 1.4 m
- 4.63 g/t gold over 7.6 m, including 20.2 g/t gold over 1.2 m
Hole TES-21-001 intersected highlights, including
- 4.86 g/t gold over 0.75 m
- 1.96 g/t gold over 3.8 m, including 2.68 g/t gold over 1.8 m
The results from our first test drilling program at Testard are very exciting. The structural model developed by our geological team used to identify these initial drill targets, some of which are nearly half a kilometer away from the main showing, is truly impressive.
Justin Reid, President and CEO, Troilus Gold Corp
Justin Reid states, “Testard has returned the highest in situ gold and silver grades identified to date within the entire Frotet-Evans Greenstone Belt; these initial drill results are hugely motivating to our team as we continue to assess results and further develop our models in preparation for an expanded drill program.”
Though early, the proximity of this target to our future operation, powerline, access roads, and infrastructure warrants further work, especially considering these exciting grades.
Justin Reid, President and CEO, Troilus Gold Corp
Globex is pleased with Troilus’ work and anticipates the next phase of development on Globex’s Lac Testard Royalty Property.
Source: https://www.globexmining.com/