Val-dOr District Gold Miner Posts Encouraging Assay Results
In a January 20 research note, Laurentian Bank Securities Equity Research Mining Analyst Jacques Wortman, BSc, MBA commented on the assay results obtained by Troilus Gold Corp. (TLG:TSX; CHXMF:OTCQX) from eight (8) new drill holes at the firm’s Troilus project.
The analyst advised that “the majority of the holes intersected mineralization outside of the previously proposed PEA pit shell.”
Laurentian Bank Securities believes that the assay results are slightly positive as drilling intersected mineralization both inside and outside of the boundaries laid out in the August 2020 PEA and located near-surface mineralized areas that may fall below new conceptual pit shells.
The analyst remarked that Laurentian considers the 2021drill program at the Southwest Zone a success and believes that Troilus has shown that the Southwest Zone shows great potential for further development and could become the focal point of the mine
Drill results demonstrated the continuity of mineralization as five drill holes located on the western edge of the Zone extended mineralization down dip by up to 85m and Hole 523 verified that the mineralized trend extends up to 200m below the PEA pit shell.
The Laurentian report listed some of the drill results. Some of the most notable were from Hole SW-21-502 which returned 6m of 0.83 g/t Au eq starting from a downhole depth of 139m, Hole SW-21-514 which returned 1.13 g/t Au eq over 10m and Hole SW-21-537 which returned 1.14 g/t Au eq over 19m.
At a much deeper depth, the company reported that starting from a downhole depth of 408m, Hole SW-21-523 intersected 14.0 m of 2.06 g/t Au eq.
Laurentian Bank Securities Equity Research stated that it arrived at its valuation and target price for Troilus Gold based upon the fundamental parameters outlined in the company’s 2020 PEA. The research firm indicated that it intends to review its valuation calculation after the PFS is released.
Laurentian Bank Securities Equity Research currently has a “Buy” rating on Troilus Gold Corp. with a target price of CA$3.30/share.
Troilus Gold trades on the Toronto Stock Exchange under the symbol “TLG” and last closed for trading at CA$0.68 on Thursday, January 27, 2022. The company’s shares also trade under the ticker symbol “CHXMF” on the OTCQB market.
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Disclosures for Laurentian Bank Securities, Troilus Gold Corp., Jan. 20, 2022
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