VANCOUVER, British Columbia - (NewMediaWire) - October 21, 2024 - Troubadour Resources Inc. ("TR" or the "Company") (TSXV: TR) (OTCQB: TROUF), a North American mineral acquisition and exploration company, is pleased to announce that it has finalized its plans for an Induced Polarization (IP) survey at its Senneville Copper-Gold property ("Senneville" or the "Property") in the eastern Val d'Or district, Quebec.
The Property is prospective for both orogenic gold and polymetallic VMS-style mineralization and comprises 230 mineral claims totalling over 12,000 hectares located within the prolific Val d'Or Mining Camp between Probe'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).
The Company has retained Val d'Or based geophysical contractors, Geophysique TMC, to conduct the IP survey, which will be focused on the vicinity of the historic Gustave-Cere gold showing (Fig. 1). Data collection for the IP survey will commence in late October and the Company plans for the results of the survey to be available to aid in drillhole targeting for the start of the diamond drill program in November.
A total of 5,000 metres of drilling is planned following the Company's successful third quarter where it raised $4,455,000. 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".
Figure 1:
Bedrock geology and exploration targets of the Senneville Property. Geology after SIGEOM, 2024. * indicates deposits acquired by Probe Gold in 2023. 1: GM72145; 2: GM40618; 3: GM68366.
Note: Readers are cautioned that the geology of nearby properties is not necessarily indicative of the geology of the Company's properties.
The Senneville property hosts the historic Gustave Cere gold showing, in which high-grade gold (up to 18.75 g/t Au over 0.85 metres, based on historical results) is hosted in quartz-carbonate-tourmaline veins that bear many similarities to the gold-bearing veins of the neighbouring Novador deposits (Fig. 1). Historical grab samples have yielded up to 49.5 g/t Au, historical channel samples have yielded of up to 6.5 g/t Au over 1.8 metres and historical drilling has identified up to 18.15 g/t Au over 0.85 metre. This showing has been defined by drilling for approximately 361 metres along strike, but other areas of the project have not been systematically explored for gold as the focus of historical work was largely on the Property's volcanogenic massive sulphide potential.
Historical diamond drilling at the Gustav Cere showing suggests several parallel horizons of gold mineralization, with much of the strike length remaining open:
Historical drilling in the 1980s targeted a horizon of gold-bearing quartz veins along the footwall of a komatiite unit and underneath the surface trench, where historic work reports grab samples up to 49.5 g/t Au (Fig. 2);
Recent historical drilling, in 2012 (SV-12-03; GM68366) and 2021(XR-21-01A; GM72154), intersected gold-bearing quartz veins along the hanging wall contact of the same komatiite unit, where relatively minor drilling has been focussed; and
A third horizon of gold mineralization is suggested by the presence of visible gold in 1981 drillhole SNF-3 (Fig. 2; "a few small pinpricks of visible gold"; GM37553); however, assays are not reported for this interval.
Diamond drilling by the Property's optionor, Xander Resources, returned silver anomalies (up to 250 g/t Ag over 0.33 metres in drillhole SN2304, within a broader interval of 10.7 g/t Ag over 12.23 metres) within smokey blue-grey quartz-carbonate veining ~1.6 km along trend from the Gustav Cere showing (Fig. 2). The silver-bearing veins are situated at the hanging wall contact of the same komatiite unit that is associated with gold mineralization at the Gustav Cere gold showing. Primary lithological contacts are an excellent pathway for mineralizing fluids, presenting both structural and chemical contrasts to precipitate metals out of hydrothermal fluids. This contact has not been drilled over the 1.6 km trend that connects the silver anomaly and the gold intercepts at the Gustav Cere showing and elevated abundances of silver are commonly associated with gold at the Gustav Cere gold showing. This set of veins is also along trend from Zn and Ag occurrences discovered in 2009 (GM64915).
The locations of the drill holes to be included in the Company's maiden drill program are not yet finalized. Targets are being designed based on systematically reviewed historic drillhole data and the recently initiated geochemical and geophysical surveys. Mobile metal ion (MMI) sampling by the previous claimholder was carried out in the vicinity of the Gustave-Cere trench in 2023 and generated overlapping metal anomalies along strike to the east of the gold-bearing trench, which will also be incorporated into the planning of the upcoming diamond drill program.
Retraction
The Company also wishes to retract certain statements made in its news release dated October 10, 2024 (the "Previous News Release").
The Previous News Release incorrectly announced that James Walker, had joined the Company's advisory board (the "Advisory Board"). Due to a miscommunication, the Company had been led to believe that Mr. Walker had consented to joining the Advisory Board, but Mr. Walker had not been authorized to do so by his employer. Going forward, Mr. Walker has no intention to advise the Company in any capacity.
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 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) the planned IP survey at the Property, including the scope, goals and timing thereof; (ii) prospective areas at the Property and areas of future focus for the Company; (iii) the Company's planned biogeochemical sampling grids; (iv) the planned drill program at the Property, including the scope, goals and timing thereof and the anticipated location of drillholes; (v) Mr. Walker's future lack of involvement with the Company, (vi) anticipated production at Probe's properties per their updated January 2024 PEA; (vii) the Company's exploration methodology; and (viii) 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.
San Rafael Resources Ltd. (1981) Diamond Drill Record; San Rafael Resources; Rapport Statutaire Soumis Au Gouvernement Du Qubec; GM37553; 9 pages, 1 plan.
Achates Resources Inc. (1984) DIAMOND DRILL LOGS OF HOLES AHS 83-1 TO AHS 83-9, DRILL LOCATION MAP, MAP OF SHOWING AREA, SENNEVILLE TOWNSHIP GOLD PROJECT; Achates Resources Ltd.; Rapport Statutaire Soumis Au Gouvernement Du Qubec; GM40618; 17 pages; 1 plan.
Beauregard, A-J., Gaudreault, D. (2014) 1012 FIELDWORK REPORT ON THE SENNEVILLE PROPERTY; Garden Island Mines Inc.; Rapport Statutaire Soumis Au Gouvernement Du Qubec; GM68366; 193 pages, 6 plans.
Turcotte, D. (2021) FORAGES DE LA PROPRIETE SENNEVILLE DE XANDER RESOURCES MARS 2021; Xander Resources; Rapport Statutaire Soumis Au Gouvernement Du Qubec; GM72145 112 pages.
Pelletier, P-A. (2024) 2023 Drilling Report on the Xander Property, Abitibi-Tmiscamingue Region, Qubec, Canada. Xander Resources; Rapport Statutaire Soumis Au Gouvernement Du Qubec; not yet submitted.
Stephens, J. (2009) Winter Drilling Report And Proposed Exploration For 2009. Ressources Tsr Inc, Rapport Statutaire Soumis Au Gouvernement Du Qubec; GM64915, 265 Pages, 4 Plans.
Kateri Mining Co. Ltd. (1960) Diamond Drill Record; Kateri Mining Co. Ltd.; Rapport Statutaire Soumis Au Gouvernement Du Qubec; GM09827-A; 6 pages, 2 plan.
Pelletier, P-A. (2023) 2023 Geochemical MMI on the Xander Property, Abitibi-Tmiscamingue Region, Qubec, Canada. Xander Resources; Rapport Statutaire Soumis Au Gouvernement Du Qubec; not yet submitted.
Pierre Pilote (2016) Gologie de la rgion de Val-d'Or-Val Senneville-Obaska; Cible Number 263105; Fiedmont Cu-Zn_1,-2. Retrieved from https://gq.mines.gouv.qc.ca/documents/SIGEOM/TOUTQC/ANG/SHP/ <SIGEOM_QC_Mineral_Potential_SHP.zip> on Sept. 7, 2024.
