Source: Streetwise Reports 06/25/2020
A Cormark Securities report highlights that recent exploration by Troilus Gold yields one of the best holes ever drilled on the property.
In an April 22 research note, Cormark Securities analyst Richard Gray reported that Troilus Gold Corp.’s (TLG:TSX; CHXMF:OTCQB) “Southwest zone is starting to bring the heat,” and the company recently drilled one of the best holes ever on the property.
The Southwest zone is part of its Troilus gold project in Quebec and is located about 3.5 kilometers (3.5 km) from the main mineralized zone at Z87. Southwest and the main mineralized zone share similar geology.
Gray relayed that the highlight hole, TLG-ZSW20-189, drilled in Troilus’ Southwest zone, returned 2.05 grams per ton (2.05 g/t) gold equivalent (Au eq) over 48 meters (48m) within a larger intercept of 1.56 g/t Au eq over 73m. The grade is more than double the average grade of the existing resource of 0.95 g/t Au eq.
Results of another highlighted hole that Troilus reported along with this one, TLG-ZSW20-185, showed 1.02 g/t Au eq over 15m.
“These drill results further demonstrate the potential of the Southwest zone to add to the current mineral inventory of 6,470,000 ounces of Au eq at the Troilus project,” Gray noted.
Currently, Southwest, defined by the Main and West zones, extends for 1 km along strike and ranges from 10–70m in width. An initial resource estimate for Troilus is expected later this year.
“Troilus could be a breakout explorer name in 2020,” Gray stated.
“The project has the size and scope to garner a significant re-rating as the company achieves further de-risking catalysts over the next 12-18 months, or become an attractive acquisition target for senior and midtier producers looking for large and undervalued resources in what is one of the safest jurisdictions in the world,” Gray concluded.
Cormark has a Buy recommendation and a CA$3.65 per share target price on Troilus Gold. The stock is trading now at about CA$0.98 per share.
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- Troilus Gold Corp.
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Disclosures from Cormark Securities, Troilus Gold Corp., Morning Meeting Notes, April 22, 2020
Analyst Certification: We, Richard Gray and Nicolas Dion, hereby certify that the views expressed in this research report accurately reflect our personal views about the subject company(ies) and its (their) securities. We also certify that we have not been, and will not be receiving direct or indirect compensation in exchange for expressing the specific recommendation(s) in this report.
The Disclosure Statement Chart for Troilus Gold can be found on the website.
( Companies Mentioned: TLG:TSX; CHXMF:OTCQB,
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