Canadian miner Troilus Gold has unveiled drill re-sults from the company’s Testard target, located about 10 kilometres south of the main mineral corridor and former mine site.
The new gold discovery is located on a group of five royalty property cells acquired from Globex Mining in 2020 as part of a larger 91 cell acquisition deal, the company said in a statement.
“Under the transaction, Globex received 350,000 Troilus shares and retains a 2% Gross Metal Royalty of which 1% may be purchased for $1 million,” Globex Mining said.
Justin Reid, the president and CEO of Troilus Gold, said that the re-sults from the “first test drilling program at Testard are very exciting. The structural model developed by our geological team used to iden-tify these initial drill targets, some of which are nearly half a kilometre away from the main showing, is truly impressive. Testard has re-turned the highest insitu gold and silver grades identified to date within the entire Frotet-Evans Greenstone Belt”.