Troilus Gold Corp. recently reported that its 2020 summer regional exploration program, which was centered on the generation of high-priority targets within the Frôtet-Evans Greenstone Belt, yielded the highest gold grades ever. These grades were recovered on the Troilus Project, which is found in the northeast area of Chibougamau, Quebec. The news comes after Troilus grew its land position earlier this year with more than 90,000 ha, which made the company the biggest claim holder in the greenstone belt.
These impressive results were obtained from the Testard target, which is another one of Troilus’s projects. The target is found roughly 10 km south of the main mineral resource area and the mine site.
Troilus Gold Corp CEO Justin Reis stated that these results were particularly exciting because the geological features of the Testard target area and host rock are similar to Troilus’s main mineral resource zones, such as the newest southwest zone that was found earlier this year. Additionally, the results are similar to the recently announced Goldfield Boulder and Beyan Gold zone discoveries. These zones are located 36 km and 8 km from the Troilus mine site, respectively.
All the outcrop samples were found using handheld GPS before being collected by hand, and then bagged, sealed and sent to the ALS Laboratory for assaying. One sample taken from the Testard outcrop returned 4.37% copper, 2440 grams per ton of silver and 203 grams per ton of gold. Additional samples taken indicated gold with grades of 2. 35, 8.25, 8.44. 13.55 and 54.2 grams per ton (g/t). With additional silver grades, two samples returned 13.4 and 31.5 grams per ton. Apart from gold, the laboratory also conducted a multi-element analysis of 33 elements.
The report notes that in the Testard zone, mineralization takes place in a 35 to 45-meter-wide zone of quartz vein swarms and brittle deformation. This is hosted in an undelineated, broad and intrusive tonalite package. In addition, the brittle features and silica flooding that hosts these gold bearing sulphides at Testard have the same features as the southwest zone that was recently discovered around the Troilus mine.
For now, Troilus Gold awaits the results from 35 of the surface samples that were collected from the Testard target area. The company is planning to carry out additional work to better define the zone.
Other companies worth watching in the mining space include Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR). With the largest uranium and vanadium production in the United States, the company commands a unique position in the global mining industry.
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