Vancouver, British Columbia, Canada, November 17, 2022 – TROUBADOUR RESOURCES INC. (the “Company") (TSX VENTURE: TR) (OTCQB: TROUF) is pleased to announce results of its field program completed earlier this year on its Texas property, located in the Greenwood Mining Division of southern B.C.
- Two grab samples* from the newly-staked Inyo Ackworth showing returned 6.72 g/t Au; 509 g/t Ag & 1.08 g/t Au; 144 g/t Ag.
- Man-portable backpack diamond drilling on the Gold Bug discovery returned 5.50 g/t Au over 70 cm.
- A new polymetallic (Au/Ag/Cu/Pb/Zn) soil anomaly was discovered within recently-logged ground south of the bonanza-grade Doorn gold occurrence consisting of a linear gold-in-soil anomaly (19ppb to 459 ppb Au) flanking an overlapping Cu/Pb/Zn/Ag soil anomaly over a distance of 200 m and is open in most directions.
- Overlapping Cu/Pb/Zn/Ag soil anomalies at the Midnight prospect coincide with historical workings discovered in 2018.
*Grab samples are by definition selective. Grab samples are solely designed to show the presence or absence of mineralization, and are not intended to provide nor should be construed as a representative indication of grade or mineralization at the Project.
“The recently completed field program successfully identified a significant new and unexplained gold, silver and base metal soil anomaly that bears a striking resemblance to soil results surrounding the Doorn high-grade gold showing approximately 450 m NNE. Additionally, ground-truthing of the newly-acquired Inyo-Ackworth past-producer confirmed that the majority of the historical workings lay within our claims, and attractive gold and silver grades were sampled by the field crew right at surface. The team is excited to add this new data into the exploration model and continue to work towards making the next big discovery in the prolific Beaverdell mining camp,” states Geoff Schellenberg, Company President.
Figure 1: Location Map of Mineral Showings on the Texas Property
Previous technical work by Troubadour proved that intersecting north/south and east/west geochemical trends coincide with metal-enriched near-surface rock exposures, as evidenced by high-grade gold and silver in rock samples from the Cabin and Doorn prospects (See news release dated February 4, 2021). The newly-identified Doorn South target is characterized by highly prospective, intersecting Au-in-soil anomalies hosting individual results ranging from 19 ppb to 459 ppb, flanked to the east by coincident Pb-Zn-Ag anomalies greater than 200 m in length.
The Gold Bug showing, rediscovered by Troubadour in 2020, was revisited and drilled with a man-portable backpack drill to follow-up on a significant chip sample that produced 8.19 g/t Au over 1.0 m. Drilling successfully verified mineralization, with core assays returning 5.5 g/t Au over 70 cm in visually barren quartz.
The Inyo-Ackworth past-producer, recently acquired by the Company through staking, was also ground-truthed and sampled during the field program. Surveying via handheld GPS confirmed that most of the historical workings fall within the newly staked ground and rock samples from surface produced exceptional results. These results are highlighted by a shear zone that returned 6.72 g/t Au, 509 g/t Ag, and 7.38 % Pb, and quartz vein float material from the main shaft dump pile assayed 1.08 g/t Au, 144 g/t Ag, and 5.25% Pb.
Additionally, the Midnight and Laurion targets were systematically explored for the first time via mapping, prospecting and soil/rock sampling. At the Midnight, coincident >90th percentile Ag-Cu-Pb-Zn soil anomalies covering 250 x 400 m highlight and expand upon historical workings rediscovered by the Property vendor in 2018. The Laurion was noted to be in poor disrepair and on steep slopes, but rock sampling from the apron of a large adit assumed to be the main Laurion working returned appreciable precious and base metals (see Table 1), highlighted by sample C0042151 that assayed 0.1 g/t Au, 170 g/t Ag, 0.11% Cu, 0.94% Pb and 0.49% Zn.
The most notable rock sample assay results from the 2022 exploration program are listed in the table below:
Table 1: Table of Significant Rock Sample Results
Analytical values for all of the rocks collected from the 2022 field program ranged from <0.01 to 6.72 ppm Au, <0.2 to 509 ppm Ag, 1 ppm to 3213 ppm Cu, 3 to 73800 ppm Pb, and 6 ppm to 7157 ppm Zn.
Rock and soil samples were collected by Coast Mountain Geological Ltd. of Vancouver, B.C. and submitted directly to MSA Labs, an ISO 170251 and ISO 9001 accredited analytical laboratory, in Langley, B.C.
All rock samples were prepared using MSA Labs PRP-915 which includes drying, crushing with 70% passing 2 mm. A 500 g sub-sample of the coarse crush is further pulverized with 85% passing 75 μ. Gold results were conducted by an ore grade fire assay with an AAS finish (FAS-211). The 35-element analysis was done with a true aqua regia digestion and ICP-AES (ICP-130). Soil samples were prepared via PRP-757 that includes drying and screening to 70% passing through an 80 mesh. A 20 g sub-sample was then digested in aqua regia and subjected to ICP-AES/MS (IMS-117) to produce a 39-element ultra-trace level result.
Patrick McLaughlin, P. Geo., a Qualified Person as defined by NI 43-101, supervised all technical aspects of the work programs performed at the Project, has verified the exploration data disclosed, including sampling, analytical and test data contained in the written disclosure, and has reviewed and approved the contents of this news release.
Texas Property Option Agreement Update
The Company also wishes to announce that it has fully satisfied all of the obligations of the option agreement entered into on October 6, 2020 and now owns 100% of the project. Pursuant to the agreement, the Company has granted a 1.5% NSR to the Vendor.
Over the course of the last year Troubadour has pursued, and continues to pursue, various opportunities to increase shareholder value and complement its current asset base. Some of these opportunities were advanced to the documentation stage, but market conditions have so far prevented the completion of any transformative transaction. The Company will continue to pursue opportunities that fit within its corporate vision with the goal of creating significant value for its shareholders.
TROUBADOUR RESOURCES INC. (TSX.V: TR) (OTCQB: TROUF) is a public Canadian mining exploration company focused on copper and gold in British Columbia, Canada. The Company is managed by an experienced team consisting of youthful and seasoned professionals with proven track records as mine finders. The newly acquired Texas gold property diversifies the Company’s commodity focus and compliments Troubadour’s Amarillo copper project located 10 km south of the past-producing Brenda Mine in southern BC and 35 km east of Kodiak Copper’s MPD discovery.
For further information please contact:
Troubadour Resources Inc.
625 Howe Street, Suite 488
Vancouver, BC V6C 2T6
Geoff Schellenberg, President
Office: (604) 681-0221
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.
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