UrbanGold Minerals (TSXV: UGM) issued a media statement reporting encouraging results from three drill holes totalling 369 metres on the Cressida block of the Troilus property located in Quebec.
In the brief, UrbanGold said the initial drill program was planned to test the core of the historical mineralized zone and its potential extension to the northeast, where the past-producing Troilus mine is located 14 kilometres further along strike.
An initial assessment of the retrieved core shows that it is quite similar to that of the Troilus mine
According to the miner, compilation and digitization of historical data indicated that the majority of the historical holes had intersected gold over significant widths, near the surface, and over a strike length of well over 300 metres.
“We are pleased that the program progressed rapidly,” said Mathieu Stephens, UrbanGold president and CEO. “Our initial assessment of the retrieved core is that it is quite similar to that of the Troilus mine with similar alterations and the presence of sulphides. Samples are being sent to the lab this week, and will determine if gold is associated with these sulphides. A larger follow-up drill program based on these results is planned for 2020.”
The 15,512-hectare Troilus property is located 120 kilometres north of Chibougamau in the central part of Quebec. It is composed of three principal claim blocks and a few scattered claims including the Bullseye Block, which sits on the Frotet greenstone belt; the Larabel Block, located in the northeastern portion of the greenstone belt; and the Troilus Base Metals Block.