Junior Miner Announces Discovery of New Gold Zone

By: Tomas Ronolski - AllPennyStocks.com News

Thursday, May 30, 2024

With the price of gold continuously reaching new all-time highs, it’s no surprise that the announcement of a newly discovered rim at a highly prospective corridor is sending Canadian shares of this junior miner up in pre-market trade.

Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF) announced in a press release today the discovery of a new gold zone. Named the ‘West Rim Zone’, the discovery is located within 200 meters west of the North Reserve Pit Shell.

Trolius’ CEO Justin Reid had this to say, “After 5 years of systematic exploration, we are still making significant discoveries on the Troilus property. The West Rim target is a testament to the prospectivity and opportunity within proximity to the Troilus project’s mineral reserve pits defined in the recent Feasibility Study."

As a Canadian development-stage mining company, Trolius is focused on the systematic advancement of the former gold and copper Troilus Mine towards production. The mine is located in the tier-one jurisdiction of Quebec, Canada, where it holds a large land position of 435 km² in the Frôtet-Evans Greenstone Belt. A Feasibility Study completed in May 2024 supports a large-scale 22-year, 50ktpd open-pit mining operation, positioning it as a cornerstone project in North America.

Canadian shares were being bid up in pre-market action.

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