Troilus Gold Corp. reported initial results from its 2019 exploration program at the Troilus gold project in Quebec outlining the discovery of a new gold zone in the southeastern portion of the project's J zone.
This zone lies 300 meters from surface, with drilling indicating 1.11 g/t gold equivalent over 19 meters, including 1.79 g/t gold equivalent over 6 meters.
The company highlighted interceptions of 2.57 g/t gold equivalent over 8 meters and 1.43 g/t gold equivalent over 22 meters less than 200 meters from surface.
Additionally, it confirmed 3 g/t gold equivalent over 8 meters and 2.09 g/t gold equivalent over 9 meters below the J4 open pit.
Troilus said March 26 that drilling is underway to further test the potential extent of the new discovery.
Using the new structural interpretations validated within the 36,000-meter drill program in 2018, the company has decided to extend drilling beyond the planned depth in one of the drillholes.
Troilus added that it plans to drill over 40,000 meters as part of its 2019 exploration program. Company shares were down more than 5% in late-morning trades in Toronto.