Troilus Mining reported 103 metres grading 1.10 g/t gold equivalent in hole 87-26-484 at its Troilus project in north-central Quebec, starting at 442 metres depth. Within that interval the company reported 34 metres at 2.10 g/t gold equivalent. The reported grades are 0.98 g/t gold, 0.54 g/t silver and 0.07% copper over the wider interval.
The results come from a third batch of assays covering 10 holes and 4,230 metres, drilled as part of an optimization program at the Z87 zone that Troilus outlined in March 2026. All the intercepts released lie inside the Z87 reserve pit as defined in the company's May 2024 feasibility study.
Two other holes were highlighted. Hole 87-26-492, collared immediately beyond the currently planned pit wall, returned 14 metres at 1.98 g/t gold equivalent from 162 metres, including 1.5 metres at 9.87 g/t. That narrow interval carried 260.80 g/t silver, which accounts for a large share of the equivalent grade. Hole 87-26-512, drilled as a twin of historic hole KN-657, returned 93 metres at 0.92 g/t gold equivalent from 494 metres, including 21 metres at 2.30 g/t.
What the program is testing
The stated purpose of the drilling is administrative as much as geological. Historic holes inside the Z87 reserve pit contained numerous intervals that were never assayed, and for resource-estimation purposes those gaps were assigned a value equal to half the analytical detection limit — effectively treating them as barren. Troilus is re-drilling and sampling those sections, mainly in the hanging wall above the main mineralized zone, and is also targeting inferred resources, the lowest confidence resource category.
If the block model is revised, the company says the result could be higher tonnage and a lower strip ratio — the volume of waste rock that must be moved per tonne of ore — in the early phases of mining. That outcome is not yet quantified.
Chief executive Justin Reid said drilling is "consistently intersecting mineralization in areas that were either never sampled or treated as waste within the reserve pit."
To date Troilus has published results from 30 holes totalling 9,793 metres of a planned 24,000 metres. Reported grades are uncut, and the company states that true widths represent roughly 75% to 90% of drilled lengths.
Gold-equivalent figures use metal prices of US$1,850 per ounce gold, US$4.25 per pound copper and US$23.00 per ounce silver, with pit-specific recovery assumptions. Technical information was approved by Nicolas Guest, exploration director and a Troilus employee, who is not independent of the company under Canada's NI 43-101 disclosure rules.
The 2024 feasibility study contemplates a 22-year open-pit operation processing 50,000 tonnes per day.
Source: GlobeNewswire
This article is journalism, not investment advice. It is not an offer or solicitation to buy or sell any security. Micro-cap and penny stocks carry a high risk of loss, including illiquidity and dilution. Do your own research.