In a Feb. 9 research report, Stifel analyst Ian Parkinson reported that Troilus Gold Corp. (TLG:TSX; CHXMF:OTCQB) is continuing to focus on ounces that count at its Troilus project and that strategy is proving effective.
Also of note, Troilus Gold stock, now trading below its peers, Parkinson noted, at about CA$1.13 per share, has threebagger potential. Stifel's $4 per share target price on the exploration firm indicates this.
The analyst provided the highlights of the recent drill results from Troilus Gold's Southwest zone, which bode well for the Troilus project overall. At year-end 2020, the Canadian company had drilled 8,500 meters (8,500m) in Southwest and delineated a total resource there of 580,000 ounces of gold equivalent (Au eq).
New results come from hole TLG-ZSW20-203 that was placed 75m to the north of the pit shell outlined in the 2020 preliminary economic assessment (PEA). The hole's notable assays included 1.2 grams per ton gold equivalent (1.2 g/t Au eq) over 16m and 6.66 g/t Au eq over 3m.
Significantly, hole -203 extended known mineralization and also intersected mineralization 100m below the bottom of the pit.
"The drill results released today will widen the pit without increasing the strip, effectively increasing ounces per vertical meter and pushing out the underground portion of the PEA," thereby improving the overall project economics, Parkinson wrote.
Stifel has a Buy rating on Troilus Gold.
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