Troilus Gold Corp. (TLG:TSX; CHXMF:OTC; CM5R:FRA) returned "encouraging" initial assays from a target it recently began drilling at its namesake project, reported Laurentian Bank Securities analyst Jacques Wortman in a March 31 research note.
These initial results are from three holes Troilus Gold drilled in the Testard target to test for possible controls on the mineralization and to test the depth potential. Testard, about 10 kilometers south of the historical Troilus mine, is one of many regional targets the Canadian company has identified via the structural model the exploration team developed.
The new drill intercepts show high grades of gold and particularly silver, Wortman noted and provided examples. Standouts include 3.2 meters (3.2m) of 6.72 grams per ton gold (6.72 g/t Au) and 26.71 g/t silver (Ag), starting 25m downhole, returned from hole TES-21-005.
Hole TES-21-002 demonstrated 7.6 m of 4.63 g/t Au and 25.4 g/t Ag, beginning 259m downhole. Hole TES-21-001 hit 1.96 g/t Au and 19.12 g/t Ag over 3.8m, starting 146m downhole.
"These strong initial results also highlight the district-scale potential of the underexplored Frotet-Evans Greenstone Belt," Wortman wrote.
Before drilling at Testard, Troilus Gold conducted surface then outcrop and channel sampling there, all of which returned positive results, Wortman reiterated. All Testard exploration work to date showed the geological characteristics at the target to be similar to those of the project's main established zones.
Laurentian has a Buy rating and a CA$3.30 per share price target on Troilus Gold. Its stock is currently trading at around CA$0.89.
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Disclosures for Laurentian Bank Securities, Troilus Gold Corp., March 31, 2022
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