Troilus Drills 8.84 g/t AuEq Over 4.8 m at Z87, Confirming High-Grade Mineralization 400 m Beyond Current Resource Pit Shell
Troilus deepens the Z87 trend by 400 metres with narrow high-grade intersections that do not alter the economics of its $1.1 billion open-pit project.
Troilus Mining Corp. (TLG) reported five extension drill holes totaling 2,915 metres at the Z87 underground target, all of which are extensions of existing J Zone holes. The holes were designed to test the down-plunge continuity of high-grade Z87 mineralization beyond the existing mineral resource.
Headline intercepts include hole TLG-ZJ20-222-EXT26, which returned 4.8 m at 8.84 g/t AuEq from 859 m downhole, including 1 m at 23.58 g/t AuEq and 2.8 m at 7.04 g/t AuEq. Supporting intercepts include: * TLG-ZJ419-094-EXT26 returned 5 m at 5.07 g/t AuEq including 3 m at 7.79 g/t AuEq * J-22-344-EXT26 returned 6.17 m at 2.08 g/t AuEq including 1.37 m at 9.26 g/t AuEq * TLG-ZJ19-165-EXT26 returned 3.7 m at 2.84 g/t AuEq within 8.2 m at 1.71 g/t AuEq
All five holes intersected mineralization, with TLG-ZJ19-151-EXT26 hitting only interpreted lower-grade margin mineralisation. True thicknesses are estimated at approximately 75% to 90% of drilled length. All grades are uncut.
Troilus Mining Corp. (TLG) has completed five drill holes at its development-stage project, which carries a market capitalization of C$1.14 billion. The company is advancing the site as a 50,000 tonnes per day open-pit operation, supported by a feasibility study completed in May 2024. The Z87 underground target represents optionality beneath and beyond the current pit design rather than the immediate development plan.
The company did not provide a resource estimate update, tonnage model, or economic assessment with the release, stating only that the data will be useful for future geological model updates. While the results represent a credible step-out, they do not add measured, indicated, or inferred tonnes, nor do they change the open-pit reserve. Against the company’s prior Z87 high-grade reference of 42.49 g/t AuEq over 2 m, the current best interval is lower in gram-metres but wider and part of a broader mineralized envelope, consistent with continuity rather than a bonanza repeat.
The stock has already seen significant movement, rising from C$0.73 in August 2025 to C$2.06. This increase was driven primarily by financing, engineering, permitting, and power allocation milestones rather than deep Z87 underground holes.
Troilus Mining Corp. is a Canadian development-stage mining company focused on advancing the former Troilus gold-copper mine in Quebec toward production. The project is located in the Frôtet-Evans Greenstone Belt and holds a 435 km² land position. A May 2024 feasibility study supports a 22-year, 50,000 tpd open-pit operation. Prior disclosed production targets include average annual production of about 303,000 AuEq ounces, or 135.4 million pounds copper-equivalent, with peak production around 536,400 AuEq ounces.
The company has secured a 70 MW hydroelectric power allocation from Hydro-Québec and Quebec agencies. The environmental and social impact assessment (ESIA) was submitted in June 2025, and permitting is advancing. Debt financing has been upsized to a mandate of up to US$1.2 billion, with lenders including Societe Generale, KfW IPEX-Bank and EDC. Offtake arrangements are being pursued with Aurubis and Boliden.
As reported to April 30, 2026, the prior-period balance sheet context showed cash of C$114.7 million, working capital of about C$137.8 million, total assets of C$166.5 million, and no financial debt.