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More Positive Drill Results From Mining Co.

 

June 10, 2022 (Investorideas.com Newswire) New findings bode well for Troilus Gold Corp.'s imminent mineral resource estimate and subsequent prefeasibility study.

Troilus Gold Corp. (TLG:TSX; CHXMF:OTC; CM5R:FRA) announced additional positive infill and expansion drill results from the Troilus project's Southwest zone, reported Sprott Equity Research analyst Brock Salier in a May 4 research note.

The results are from 21 diamond drill holes, all of which Troilus Gold will incorporate into the upcoming mineral resource estimate, on track for completion as per guidance.

"With about 93 kilometer (93 km) of post 2020 mineral resource estimate drilling behind, we expect to see a lift in the mid-2022 mineral resource estimate that will feed the subsequent prefeasibility study," Salier commented.

New noteworthy infill drill results from inside the existing pit shell consist of broad and narrow intercepts. Broad intercepts include 10 meters (10m) of 2.1 grams per ton gold equivalent (2.1 g/t Au eq) and 27m of 0.6 g/t (from 26m downhole). Examples of narrow, higher grade gold equivalent intercepts are 3m of 4.2 g/t and 1m of 4.6 g/t.

The average of these hits was 5m of 1.2 g/t Au eq, which is significant. As it is well above the 0.7 g/t in the preliminary economic assessment, noted Salier, the starter pit can be of a higher grade.

Stepout holes also yielded positive results. They extended mineralization about 300m below the existing pit shell and about 100m to the west of it. Overall, this averages about 3.8m of 1.3 g/t Au eq, narrow but high grade. A 100m stepout to the northwest returned 14m of 1.3 g/t Au eq.

Highlights of the expansion component of drilling included 11m of 3.9 g/t Au eq, 3m of 13.6 g/t, 24m of 0.8 g/t, and 28m of 0.8 g/t. These intercepts are from outside and below the existing pit shell.

Salier pointed out what all of the ongoing and prospective drilling means for Troilus Gold. "All this, ahead of more satellite exploration on a prime, greater than 1,400 square kilometer land package, with upcoming near-mine 11 km Gap zone drilling (excluded from upcoming mineral resource estimate), showcases the company's growth potential," he wrote.

As such, Sprott has a Buy rating and a CA$2.80 per share price target on Troilus Gold. Its current share price, in comparison, is around CA$0.65.

Disclosures

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 Corp. 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 the 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 the 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. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Troilus Gold Corp., a company mentioned in this article.

Disclosures for Sprott Equity Research, Troilus Gold Corp., May 4, 2022

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