Troubadour Resources Inc.

  • ISIN: CA89712R1029
  • Land: .

Nachricht vom 08.01.2019 | 16:01

Troubadour Drill Program Update at the Copper, Molybdenum, Gold Amarillo Project, Southwestern B.C.

DGAP-News: Troubadour Resources Inc. / Key word(s): Miscellaneous

08.01.2019 / 16:01
The issuer is solely responsible for the content of this announcement.

Vancouver, British Columbia--(Newsfile Corp. - January 8, 2019) -  TROUBADOUR RESOURCES INC. (TSXV: TR) (the 'Company') is pleased to provide an update on the Company's maiden drill program at its 100% owned Amarillo Project located approximately 30 kilometres west of the town of Peachland, British Columbia.

Drill Program Update

Prior to the Christmas break the Company completed a 1,341 metre four diamond drill hole program, drilled from two pads, that focused on the evaluation of a portion of the Trench Anomaly (see Company news releases dated September 12 and December 6, 2018).

The magnitude of hydrothermal alteration, sulphide mineralization and structural features observed in the drilling thus far, exhibit defining characteristics of the nearby Brenda Deposit. The alteration patterns and mineralization align well with this type of propyllitic alteration dominant copper porphyry deposit and indicate the potential for a more prolific zone nearby. Assays for all drill holes are pending.

Drill holes AMAR18-01, AMAR18-02 and AMAR18-04 targeted the near surface moderate and shallow NE-SW trending Trench Chargeability Anomaly. All three drill holes intersected an altered and deformed granodiorite hosting narrow intervals of overlapping potassium, chlorite, silica, sericite, and localized epidote alteration frequently associated with vein-hosted and finely disseminated pyrite with trace amounts of chalcopyrite mineralization. The chargeability response is explained by finely disseminated sulphides and possibly clay alteration.

Drill holes AMAR18-01 and AMAR18-03 were designed to test the deeper, strong and broader component of the Trench Chargeability Anomaly. Of significant interest, was the presence of altered porphyry dikes below 250 metres drill depth in drill hole AMAR18-01, displaying varying degrees of sericite and hematite alteration associated with finely disseminated grains of magnetite and pyrite.

President and Director Geoff Schellenberg states, 'The preliminary results are very encouraging especially considering the Project's overall exploration infancy and the positive indications stemming from a small corner of the Project drill tested so far. Our objectives remain focused on diligently exploring, better recognizing and evaluating the Project's mineral potential, and vectoring in on the 'heart' of Amarillo's larger mineralizing system'. Additional permits have been submitted to effectively test the Trench Chargeability Anomaly and follow-up on drilling. Permitting to drill test other high priority targets is also underway with plans to drill test them as permits are received.

Amarillo Regional Exploration Update

To demonstrate the Project's property wide mineral potential, two sub-crop rock samples collected on the northern edge of the claim group within the newly acquired ground (See Company News Release on July 19, 2018) are 3.3 kms NNW from the recently completed drilling and returned 4,315 and 4,904 ppm Copper* (0.43% and 0.49% Cu respectively). The sub-cropping rock samples displayed distinct fracture veins hosted in altered granodiorite and bear magnetite, epidote and chalcopyrite.

*Note: The grab samples reported in this release are solely designed to show the presence or absence of mineralization. Grab samples are by definition selective, and not intended to provide nor should be construed as a representative indication of grade or mineralization at the Project.

About Troubadour Resources Inc.

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 areas enriched in copper, molybdenum and gold; in addition to areas host to skarn-style mineralization highly anomalous in tungsten.

The multi-element geochemical 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 and IP chargeability anomaly that is coincident with a historic trench that was reported in 1966 grading 0.87% copper over 125 metres(1). Over the intervening period from the 1960's, the area received limited exploration such hat 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.

Patrick McLaughlin, P. Geo., a Qualified Person as defined by NI 43-101, has reviewed and approved the contents of this news release.

(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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