News
Vancouver, British Columbia / October 15, 2024 – Troubadour Resources Inc. (“TR”, “Troubadour” or the “Company”) (TSXV:TR) (OTC:TROUF) (WKN:A3DBDE), a North American mineral acquisition and exploration company, is pleased to announce that it plans to undertake a 5,000 metre diamond drill program at its Senneville Gold-Copper property (“Senneville” or the “Property”), in the eastern Val d’Or district following its successful third quarter where it raised $4,455,000.
Comprising 230 mineral claims totalling over 130 km2, Senneville is located within the prolific Val d’Or Mining Camp between Probe Gold’s McKenzie Break deposit (1,453,400 ounces Inferred) to the north and the Probe’s Novador Development Project to the south (6,405,000 ounces M&I and 1,550,200 ounces Inferred)1.
Chris Huggins, CEO of Troubadour, stated, “We’re thrilled to unveil our strategy for the maiden drill program at the Senneville Gold-Copper property. We are focused on growth and discovery by leveraging the work already completed to drill existing high-priority targets in the near-term, while systematically building a robust 3D model that provides additional high-value targets.”
Mr. Huggins continued: “Our focus is on delivering value for our shareholders through disciplined exploration; the promising geology of Senneville, combined with our recent capital raise, puts us in a strong position to accelerate our efforts. We are eager to uncover new high-grade gold and copper mineralization and look forward to sharing results in the coming months.”
A total of 170,000 metres of drilling completed over the past three years supported Probe Gold’s recently released global resource, which incorporated the Mckenzie Break and Beaufor Deposits acquired in 2023. Per Probe’s updated PEA dated January 2024, production is anticipated to exceed 250,000 ounces/year of average annual production across a 12.5-year mine life. Probe intends to complete a new 50,000-metre infill drill program, demonstrating its commitment to advancing its projects within the area.
Figure 1 – Local area map of the Senneville Project. * indicates deposits acquired by Probe Gold in 2023.
Note: Readers are cautioned that the geology of nearby properties is not necessarily indicative of the geology of the Company’s properties.
The drilling will focus on the Property’s principal 11-kilometre trend of mineral occurrences that are spatially associated with the contacts of a prominent komatiite unit that trends through the Property, hereafter referred to as the “Senneville Komatiite” (Fig. 2).
The drill program will be split across two targets to test the continuity of mineralization within the principal 11-kilometre trend:
Figure 2 – Bedrock geology and extent of planned drilling at the Senneville Property. Geology after SIGEOM, 2024. * indicates deposits acquired by Probe Gold in 2023.
Phase 1:
An initial 2,000 metres in 11 drill holes is planned around the historic Gustave-Cere gold showing, in which high-grade gold is hosted in quartz-carbonate-tourmaline veins that bear many similarities to the gold-bearing veins of the neighbouring Novador deposits (Fig. 2). Historical grab samples here have yielded up to 49.5 g/t Au and historical channel samples here have yielded up to 6.5 g/t Au over 1.8 metres. Historical drilling has identified up to 18.15 g/t Au over 0.85 metres. This showing has been defined by drilling for approximately 361 metre of strike length immediately around the showing, but much of the host structure remains to be tested (Fig. 3). Compilation work that includes the most recent drilling at the Gustav Cere showing suggests several parallel horizons of gold mineralization, with much of the strike length remaining open (Fig. 3):
Figure 3 – Phase 1 drill holes testing the Gustave-Cere showing; historic assays have not been verified.
Phase 2:
Phase 2 of the program is planned to include 3,000 metres of drilling across 15 holes that will target areas of the Property that have been recommended as exploration targets for VMS mineralization (Fig. 4; Pilote, 2016), based on the presence of metal occurrences (Zn, Ag, Au), aluminous alteration assemblages (garnet, chlorite, biotite) and prospective volcanic stratigraphy (felsic volcanic rocks hosting brecciated massive pyrite, exhalite and cherty horizons, associated with ultramafic volcanic rocks). Drilling in this phase will focus on Target Area 1 outlined in TR’s press release dated August 1, 2024 and the Company intends to review the results of the ongoing biogeochemical sampling program before finalizing proposed drillhole locations.
Figure 4 – Phase 2 drill holes testing the Property’s principal trend; historic assays have not been verified.
Drillholes will target areas of prospective geology and geophysical anomalies situated at different stratigraphic levels within the principal trend hosting the Gustave-Cere gold showing (Fig. 4). These drill holes will tie-in to the area covered by Phase 1 diamond drilling, to confidently test the continuity of mineralization across the strike length of this 11-kilometre zone. Drilling this phase will focus in three zones:
Qualified Person
The technical content of this news release has been reviewed and approved by Deepak Varshney, P.Geo., a qualified person as defined by National Instrument 43-101. Historical reports provided by Senneville’s optionors were reviewed by Mr. Varshney. The historical information provided has not been verified and is being treated as historic non-compliant intercepts.
About Troubadour Resources Inc.
Troubadour Resources Inc. is a North American mineral acquisition and exploration company focused on the development of quality critical mineral and precious metal properties that are drill-ready with high-upside and expansion potential. Based in Vancouver, BC, Troubadour trades on the TSX Venture Exchange under the symbol TR, the OTCPK Exchange under the symbol TROUF, and on the Frankfurt, Berlin and Tradegate Stock Exchanges under the symbol A3DBDE.
Troubadour’s flagship project is the Senneville Gold-Copper Project. Comprised of 230 mineral claims totalling over 130 km2, the Senneville Project is located within the prolific Val d’Or Quebec Mining Camp between Probe Gold’s McKenzie Break deposit (1,453,400 ounces Inferred) to the north and the Probe’s Novador Development Project to the south (6,405,000 ounces M&I and 1,550,200 ounces Inferred).
Note: Readers are cautioned that the geology of nearby properties is not necessarily indicative of the geology of the Company’s properties.
TROUBADOUR RESOURCES INC.
Chris Huggins, CEO and Director
For more information, please call Chris Huggins at (604) 968-4844 or email chris@troubadourresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements:
This news release may include “forward-looking information” under applicable Canadian securities legislation, including statements respecting: (i) anticipated production at Probe’s properties per their updated January 2024 PEA; (ii) the Company’s exploration methodology; and (iii) the drill program at the Senneville Project, including the scope, goals and timing thereof and the anticipated location of drillholes. Such forward-looking information reflects management’s current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry.
The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
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