Vancouver, British Columbia — September 12, 2018 — Troubadour Resources Inc. (TSXV: TR) (the “Company“) is pleased to announce the results of its recently completed 38.9 km 3D Induced Polarization (“IP”) geophysical survey on its 100% owned Amarillo Project located in southwestern British Columbia, Canada.
Key Highlights from the 3D IP Survey:
- Multiple major anomalies identified, characteristic of regional porphyry deposits;
- Extensive >1km chargeability anomaly coincident with historic trench grading 0.87% Cu over 125m(1); and
- Trench Anomaly will be primary target of much anticipated upcoming drill program.
The IP survey delineated a large chargeability anomaly (hereinafter referred to as the ‘Trench Anomaly’) that extends for over 1km and is coincident with the 1966 historic trench that grades 0.87% Copper over 125m(1). The Trench Anomaly is also coincident with the previously announced Copper geochemical soil and magnetic low anomalies (Company news release dated July 19, 2018) furthering support for the targets potential. The Trench Anomaly favorably protrudes near surface and broadens to a width of 600m at the survey’s reliable depth penetration limit. See figure 1 below.
The Trench Anomaly will be the primary focus of the inaugural drill program planned for the Fall. In addition, the IP survey delineated three newly identified exploration targets of significant size that present similar characteristics to regional deposit models. The Company has drill permits in place.
“We have known that the surface results to date spell a significant copper porphyry mineralizing system at Amarillo. The 3D IP survey has now provided us a glimpse of the size potential and we couldn’t be more excited for the upcoming drill program,” states Geoff Schellenberg, President of the Company.
The 3D IP survey, with its dense diamond-wing grid stationing, was specifically designed to render a high-resolution Chargeability-Resistivity geophysical model of both the near surface and at depth regions at Amarillo. This was important to show with confidence the continuity of the at surface historic trench copper mineralization with the large chargeability anomaly at depth, thereby presenting a more reliable model as to the potential of the zone.
Patrick McLaughlin, P. Geo., a Qualified Person as defined by NI 43-101, has reviewed and approved the contents of this news release.
The Company also wishes to announce that it has granted to its directors, officers, employees and consultants incentive options to purchase up to 1.45 million shares in the capital stock of the Company, exercisable for a period of five years at a price of 15 cents per share.
About Troubadour Resources Inc.
To date, the Company has been engaged in the acquisition and preliminary exploration of its 100% owned Amarillo Project located approximately 30 kilometres west of the town of Peachland and 71 kilometres northeast of the town of Princeton, in southwestern British Columbia, Canada.
The Amarillo Project consists of seven (7) mineral tenures totalling 4,178 hectares and is situated within the heart of a major mining district. The Amarillo Project exhibits anomalous enrichment in copper, molybdenum and gold with skarn style mineralization highly anomalous in tungsten also present.
The multi-element signature of the Amarillo Project is consistent with a large multi-phase mineralizing system and is acutely similar to some of the neighbouring world-class mining operations; such as the Brenda Cu-Mo-Ag-Au porphyry mine located 10 kilometres to the north that produced 278,000 tonnes of copper, 66,000 tonnes of molybdenum, 125 tonnes of silver and 2 tonnes of gold over a twenty-year mine life (source: Brenda Mines website).
Troubadour’s exploration team has worked diligently to define a 4 km long copper soil anomaly that is coincident with a historic trench that was reported in 1966 grading 0.87% copper over 125m(1). Over the intervening period from the 1960’s, the area received limited exploration such that the trench was subsequently mislocated. The opportunity was lost until recent when the Company rediscovered the trench, acquired the surrounding ground and is now intent on unlocking its potential.
(1) Trench Data Source: Philip, R.H.D. 1967; EMPR Assessment Report 01141 and Sutherland, Ian G. 1978; EMPR Assessment Report 07790. Historical information is presented for historical reference only and cannot be relied upon as the Company’s QP, as defined under NI 43-101, has not prepared nor verified the historical information.
Forward Looking Information
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward looking statements.
For further information please contact:
Troubadour Resources Inc.
625 Howe Street, Suite 488
Vancouver, BC, V6C 2T6
Geoff Schellenberg, President
Office: (604) 681-0221
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