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Analyst: Mining Project in Quebec Boasts 'Zone Showing Promise'

Source: Streetwise Reports

 

January 19, 2021 (Investorideas.com Newswire) Troilus Gold's new drill results and their implications are discussed in a Haywood Capital Markets report.


In a Jan. 12 research note, Haywood Capital Markets analyst Pierre Vaillancourt noted that Troilus Gold Corp. (TLG:TSX; CHXMF:OTCQB) announced the findings from the two initial holes drilled at the Troilus property as part of its fall-winter 2020 campaign. "The drill results demonstrate promising potential for the Southwest zone to become the center of gravity for the Troilus deposit," he added.

Vaillancourt noted that the two holes showed extension of gold mineralization inside and outside of the Southwest zone open pit as defined in the 2020 preliminary economic assessment (PEA).

TLG-ZSW20-204, a 200 meter (200m) stepout hole, encountered broad gold mineralization between 50 meters and 450 meters from surface, outside of the resource envelope and the proposed pit.

Hole TLG-ZSW20-201 confirmed that mineralization extends into an undrilled area in the PEA pit. Mineralization, located 3 kilometers (3 km) from the main resource area, extends for more than 1 meter and remains open.

Further, the holes returned highlight intercepts, the grades of which were higher than those in the existing resource. Specifically, hole TLG-ZSW20-204 showed 1.95 grams per ton gold equivalent (1.95 g/t Au eq) over 20m and 1.5 g/t Au eq over 9m, and included higher grade intervals.

TLG-ZSW20-201 demonstrated 2.48 g/t Au eq over 6m and 2.5 g/t Au eq over 5m, within a broader intersection of 1.74 g/t Au eq over 21m.

Vaillancourt pointed out that mineralization of Southwest, while lithologically similar to that of the other zones at Troilus, contains "more intense alteration, with stronger silica alteration and more veining." This alteration, considered with the recent drill results, suggests that the Southwest mineralization could have higher grades than the other zones and, therefore, potentially become larger than the other Troilus deposits, the analyst noted.

To further delineate this Southwest mineralization and drill test the recently discovered Beyan and Testard target areas, Vaillancourt noted, Troilus Gold plans to carry out 50 km of drilling at Troilus this year.

"We remain positive as the 2021 drilling program gets underway, which we believe could be transformative for the resource and the outlook of the project," Vaillancourt concluded.

Haywood has a Buy recommendation on Troilus Gold and a target price on it of CA$4 per share. The stock is currently trading around CA$1.09 per share.

Disclosure:

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Troilus Gold. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Disclosures from Haywood Securities, Troilus Gold Corp, January 12, 2021

Analyst Certification: I, Pierre Vaillancourt, hereby certify that the views expressed in this report (which includes the rating assigned to the issuer’s shares as well as the analytical substance and tone of the report) accurately reflect my/our personal views about the subject securities and the issuer. No part of my/our compensation was, is, or will be directly or indirectly related to the specific recommendations.

Important Disclosures

Of the companies included in the report, the following Important Disclosures:

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