Proactive Investors - Troilus Gold Corp (TSX:TLG) has published an outline of its planned regional exploration activities for the summer, following its successful 2022 program across its 435-square-kilometer property in Quebec.
The company’s focus remains on progressing the formerly producing Troilus gold-copper project towards a mine restart, but Troilus has also advanced several prospective regional targets to drill-ready status.
Specifically, the company’s 2022 regional exploration program focused on three main targets: Testard, Cressida and Rocket, located southwest of the Troilus main mineral corridor. Field mapping and prospection, airborne magnetic surveys, rock and channel sampling, as well as drilling, improved the company’s understanding of the mineralization controls at existing targets.
The company plans to conduct additional drilling on the Cressida target as part of the 2023 program to follow up and expand on the significant mineralized intervals encountered to date.
The company added that it will continue to prospect throughout the properties this summer, mainly focusing on targets identified from regional soil geochemistry surveys conducted over the past three seasons.
Meanwhile, Troilus also identified new prospective targets, such as the Rocket gold discovery, located on the company’s southernmost claims.
“Results from our regional activities have been very encouraging, demonstrating the potential of the Troilus property and the Frôtet-Evans Greenstone Belt as a district-scale gold system,” CEO Justin Reid said in a statement.
“The geological understanding of our property continues to improve, evidenced by the expansion of mineralization at existing prospective targets and new regional discoveries. Our robust financial position of approximately $30 million in cash, marketable securities and government tax credits are expected to provide us with the runway to achieve our set goals and objectives well into 2024, including the planned summer regional program, but most importantly the completion of a feasibility study and updated mineral resource estimate, targeted by year-end.”
More information on the 2023 program can be found here.