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Val-d’Or District Gold Miner Posts Encouraging Assay Results

January 31, 2022 ( Newswire) Troilus Gold Corp. released drill results from eight new holes at its Troilus property. A mining analyst at Laurentian Bank Securities Equity Research commented in a research note that the results appear to confirm that the Southwest Zone is the project’s “Center of Gravity”.

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.


1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.

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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Troilus Gold Corp., a company mentioned in this article.

Disclosures for Laurentian Bank Securities, Troilus Gold Corp., Jan. 20, 2022

The information contained in this document is based on what we deem to be reliable sources, but no guarantee or promise, explicit or implicit, is given as to the accuracy and exhaustiveness of these sources. This report shall under no circumstances be considered an offer to buy or sell, or a request to buy and/or sell the stocks mentioned. Laurentian Bank Securities Inc. and its employees may not be held liable for any monetary losses stemming from the implementation of the recommendations contained in this document.

Laurentian Bank Securities Inc. and/or its officers, directors, representatives, traders, analysts and members of their families may hold positions in the stocks mentioned in this document and may buy and/or sell these stocks on the market or otherwise. Stocks in foreign currency may be adversely affected by exchange rate fluctuations. Laurentian Bank Securities Inc. is a wholly-owned subsidiary of Laurentian Bank of Canada. The opinions, projections and estimates are those of the Economic and Financial Research department of Laurentian Bank Securities Inc. as at the date appearing on the cover page, and are subject to change without prior notice.

Laurentian Bank Securities Inc. may, in exchange for remuneration, act as a financial advisor or tax consultant for, or participate in the financing of companies mentioned in this document. This study may not be reproduced, in whole or in part, without the consent of Laurentian Bank Securities Inc. Member of the Investment Industry Regulatory Organization of Canada and of the Canadian Investor Protection Fund. The regulation of the securities market establishes requirements that analysts must follow when issuing research reports or making recommendations. These guidelines are included in the research dissemination policy of Laurentian Bank Securities, available at

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