Announcement • Aug 21
Troilus Mining Corp Reports Drilling Results At Z87 Underground Target
Troilus Mining Corp. announced results from five drill holes totaling 2,915 metres completed as part of the ongoing Z87 extension drilling program at its gold-copper Troilus Project located in north-central Quebec, Canada. All five holes were extensions of existing drillholes originating from the J Zone and were designed to test the down-plunge continuity of high-grade Z87 mineralization beyond the existing mineral resource. Hole TLG-ZJ20-222-EXT26 intersected 8.84 g/t gold equivalent (AuEq) (7.02 g/t Au, 21.63 g/t Ag, 1.03% Cu) over 4.8 m, including 23.58 g/t AuEq (22.70 g/t Au, 21.70 g/t Ag, 0.41% Cu) over 1 m and 7.04 g/t AuEq (4.06 g/t Au, 30.96 g/t Ag, 1.73 % Cu) over 2.8 metres starting at 859 metres downhole. Hole TLG-ZJ419-094-EXT26 intersected 5.07 g/t AuEq (3.65 g/t Au, 12.26 g/t Ag, 0.84 % Cu) over 5 m, including 7.79 g/t AuEq (5.73 g/t Au, 17.93 g/t Ag, 1.22 % Cu) over 3 metres starting at 842 metres downhole. Hole J-22-344-EXT26 intersected 2.08 g/t AuEq (1.93 g/t Au, 1.88 g/t Ag, 0.09 % Cu) over 6.17 m, including 9.26 g/t AuEq (8.94 g/t Au, 4.20 g/t Ag, 0.18 % Cu) over 1.37 metres starting at 995.2 metres downhole. Hole TLG-ZJ19-165-EXT26 intersected 2.84 g/t AuEq (2.38 g/t Au, 4.16 g/t Ag, 0.27 % Cu) over 3.7 m within a broader zone of 1.71 g/t AuEq (1.32 g/t Au, 2.87 g/t Ag, 0.23 % Cu) over 8.2 metres starting at 989.5 metres downhole. The drilling forms part of Troilus’ 2026 exploration program, as outlined in the March 31, 2026 press release. All reported grades are uncut, and true thicknesses are estimated at approximately 75% to 90% of drilled length. The Z87 underground target drill program was designed to confirm down-plunge continuity of the high-grade core of Z87. Five existing J Zone drill holes were re-entered and extended to test Z87 targets at depth, up to 400 metres beyond the existing resource model. Drilling totaled 2,915 metres (2,733 metres were saved due to the reentering of existing holes). All drillholes intersected mineralization, with hole TLG-ZJ20-222-EXT26 returning 8.84 g/t AuEq over 4.8 metres including 23.58 g/t AuEq over 1 metre from Z87 approximately 300 metres beyond the limits of the existing mineral resource. Two hundred metres further up trend, drillhole TLG-ZJ419-094-EXT26 returned 5.07 g/t AuEq over 5 metres including 7.79 g/t AuEq over 3 metres. Drillhole TLG-ZJ19-165-EXT26 returned 2.84 g/t AuEq over 3.7 metres within a broader zone of 1.71 g/t AuEq over 8.2 metres, which was the furthest down-plunge intersection in Z87 and extended the known mineralization 400 metres beyond the current resource. Drillhole TLG-ZJ19-151-EXT26 intersected the interpreted lower-grade margin of the Z87 zone approximately 200 metres north of TLG-ZJ20-22-EXT26, and confirmed geological continuity of the mineralizing system, and highlighting several hundred metres of untested geology in every direction. The Parker granite is interpreted to have intruded the Troilus area after the primary mineralizing events and as a result, the exploration potential within the granite is poor. However, the contact between the Troilus deposit and the Parker granite is largely inferred down-plunge of the Z87 high-grade zone and despite the post-mineralization timing of the granitic rocks, there have been observed occurrences of high-grade mineralization within granitic dykes that intrude pre-existing mineralization. Hole TLG-ZJ20-222 has produced the highest-grade and most continuous example of this style of mineralization, with veins of chalcopyrite, pyrrhotite and pyrite filling a fracture and vein network that coalesces locally into breccias. It is believed that in this case, the high-grade gold, silver and copper mineralization hosted in granitic dykes relates to localized remobilization and upgrading of the primary ore, opening the door for more discoveries of this kind within the surroundings of the Parker granite. The granitic dykes appear concordant (intruded parallel to older geological units) with biotite and albite alteration, and display typical coarse-grained magmatic textures. The remaining holes drilled as part of this program intersected the more typical volcanic-hosted mineralization where these key stratigraphic layers are intersected by porphyry dykes. During the drill program, one meter assay samples were taken from NQ core and sawed in half. One-half was sent for assaying at ALS Laboratory in Sudbury Ontario, a certified commercial laboratory, and the other half was retained for results, cross checks, and future reference. A strict QA/QC program was applied to all samples; which included insertion of one certified mineralized standard and one blank sample in each batch of 25 samples. Every sample was processed with standard crushing to 85% passing 75 microns on 500 g splits. Samples were assayed by one-AT (30 g) fire assay with an AA finish and if results were higher than 3.5 g/t Au, assays were redone with a gravimetric finish. For QA/QC samples, a 50 g fire assay was done. In addition to gold, ALS laboratory carried out multi-element analysis for ME-ICP61 analysis of 33 elements four acid ICP-AES. The technical and scientific information in this press release has been reviewed and approved by Nicolas Guest, P.Geo., Exploration Manager, who is a Qualified Person as defined by NI 43-101. Mr. Guest is an employee of Troilus and is not independent of the Company under NI 43-101. The formulas used to calculate equivalent values for resources are as follows, for 87 Pit AuEq = Au + 1.5628Cu + 0.0128 Ag, for J Pit AuEq = Au + 1.5107Cu + 0.0119 Ag, for SW Pit AuEq = Au + 1.6823Cu + 0.0124 Ag, for X22 Pit AuEq = Au + 1.5628Cu + 0.0128 Ag. AuEq was calculated using metal prices of $1,850/oz Au; $4.25/lb Cu and $23.00/oz Ag and recoveries of 93.1% for Au, 88.9% for Ag and 89.3% for Cu in the J pit, 95.5% for Au, 98.2% for Ag and 94.7% for Cu in the 87 pit, 85.7% for Au, 85.6% for Ag and 91.5% for Cu in the SW pit and 95.5 % for Au, 98.2% for Ag and 94.7% for Cu in the X22 pit.
