VANCOUVER, British Columbia - (NewMediaWire) - November 06, 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 been granted an Intervention Permit for Mining Activities (Permit No. 3033460) by the Ministere des Resources Naturelles et des Forets (MRNF) its Senneville Copper-Gold property ("Senneville" or the "Property"), in the eastern Val d'Or district. This document permits the Company to begin access and drill pad preparations in advance of the company's planned maiden 5,000 metre drill program in late November following the Company's successful third quarter where it raised $4,455,000.
The Property is prospective for both orogenic gold and polymetallic VMS-style mineralization and includes 230 mineral claims totaling over 12,000 hectares 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).
Highlights:
- 5,000 metres of diamond drilling are planned for the program with drill pads permitted over the entire principal 11 km trend of mineral occurrences (Au, Zn, Ag), which are spatially associated with the contacts of a prominent komatiite unit, as well as the crustal-scale Garden Island Fault (Fig. 1)
- Induced Polarization (IP) survey to be conducted prior to drill program to refine targets in the vicinity of the historic Gustave-Cere gold showing (Fig. 1), where historic grab samples have yielded up to 49.5 g/t Au, channel samples of up to 6.5 g/t Au over 1.8 metres and drilling has identified up to 18.15 g/t Au over 0.85 metre (October 21, 2024 News Release).
- Biogeochemical sampling grids targeting areas recommended as VMS exploration targets (Pilote, 2016), to establish a baseline for bedrock geochemistry that will develop regional drill targets and help guide future exploration (Aug. 2, 2024 News Release).
Two phases of diamond drilling are currently planned:
- Phase 1: 2,000 metre ("m") drill program planned to commence late-November, focusing on near surface targets at the Gustave-Cere gold showing. The planned drilling will infill gaps in pierce points at the Gustave-Cere gold showing, as well as test for continuity of mineralization between Au-bearing drill holes along the hanging wall contact of the Senneville Komatiite; and
- Phase 2: 3,000 metre drill program planned to test the VMS potential of the same of the principal trend. Zn and Ag occurrences were discovered in 2009 and 2023 in favourable volcanic stratigraphy for VMS formation but were not followed up with subsequent exploration.
Figure 1: Bedrock geology and extent of planned drilling at the Senneville Property. Geology after SIGEOM, 2024. * indicates deposits acquired by Probe Gold in 2024.
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. 1). Historical grab samples here have yielded up to 49.5 g/t Au, channel samples up to 6.5 g/t Au over 1.8 metres and drilling has identified up to 18.15 g/t Au over 0.85 metre. This showing has been defined by drilling for approximately 361m of strike length immediately around the showing, but much of the host structure remains to be tested (Fig. 2). 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. 2):
1. Historic drilling in the 1980s (AHS series; Fig. 2) targeted a horizon of gold-bearing quartz veins along the footwall of the Senneville Komatiite and underneath the surface trench, where historic work reports grab samples up to 49.5 g/t Au (Fig. 2)
2. Recent drilling, in 2012 (SV-12-03; GM68366) and 2021(XR-21-01A; GM72154), intersected higher Au-grade drill intercepts along the hangingwall contact of the Senneville Komatiite, where relatively minor drilling has been focussed; and
3. A third horizon of gold mineralization is suggested by the presence of visible gold in 1981 drillhole SNF-3 (Fig. 1; "a few small pinpricks of visible gold"; GM37553) however assays are not reported for this interval
The next stage of the program is planned to include 3,000 metres of drilling in 15 holes that will target areas of the property that have been recommended as exploration targets for VMS mineralization (Fig. 3; 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 historically documented Zn and Ag occurrences and the Company intends to review the results of the biogeochemical sampling program prior to finalizing proposed drillhole locations.
Drill holes will target areas of prospective geology and geophysical anomalies that are situated at different stratigraphic levels within the principal trend hosting the Gustave-Cere gold showing (Fig. 2). 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 km zone. Drilling this phase will focus in three zones:
1. The northwestern area, where Zn and Ag occurrences were discovered in 2009 (GM64915) but not subsequently followed up (Fig. 3). This area hosts input EM anomalies associated with felsic volcanic rocks that have not been targeted with drilling. Aluminous alteration assemblages, comprising coarse-grained garnet in a groundmass of pervasive chlorite, resemble alteration associated with VMS deposits;
2. The central region, where drilling by the previous claim holder (Xander Resources, 2023) intersected a 12 metre wide (apparent thickness) blue-grey smokey quartz vein that assayed 10.7 g/t Ag over 12.23 metres, with individual samples returning up to 250 g/t Ag over 0.3 metres (SN2304; Fig. 3). This vein occurs in the hanging wall of the Senneville Komatiite, ~2 km northeast of the Gustave-Cere gold showing and ~4 km southeast of the VMS indicators mentioned above (Fig. 3); and
3. Southeast of the Gustav Cere gold showing is the historic Father George-Beland Zn occurrence, where grab samples returned up to 0.9% Zn. Holes in this area are designed to intersect the untested strike length of the Senneville Komatiite that connect this Zn anomaly with overlapping MMI metal anomalies southeast of the Gustave-Cere showing (Pelletier, 2023).
References:
1. San Rafael Resources Ltd. (1981) Diamond Drill Record; San Rafael Resources; Rapport Statutaire Soumis Au Gouvernement Du Qubec; GM37553; 9 pages, 1 plan.
2. 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.
3. 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.
4. 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.
5. 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.
6. 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.
7. 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.
8. 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.
9. 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.
Qualified Person
The technical content of this news release has been reviewed and approved by Mr. James Macdonald, P.Geo., a qualified person as defined by National Instrument 43-101. Historical reports provided by the optionors were reviewed by the qualified person. The 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 and the OTCPK Exchange under the symbol TROUF.
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 that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information.
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.
