Trillium Gold (TSXV:TGM) Provides Update on Gold Center Property Adjacent to Red Lake Operations

Trillium Gold Mines Inc. (TSXV:TGM) has reported drilling progress on the company’s 80% owned Gold Centre property. Trillium has received six of eight drill results from the 2021, 9,329-metre drill program focused on the north end of the property targeting the Red Lake mine stratigraphy.

Gold Centre consists of 16 contiguous historic mining concessions over 253 hectares and is located just 350 metres from Evolution Mining’s (EVN-RLO) Red Lake operations. The Company believes that the southeast plunging mine trend extends onto its Gold Centre property and may represent the continuation of the world-class mine.  

Figure 1: Close-up of visible gold in sheared and altered gabbro associated with arsenopyrite.

Source: Trillium Gold Mines

The mineralization encountered to date is estimated to be similar to that found on the adjoining property in terms of rocks, vuggy alteration and mineralization.  Results identified visible gold (VG) at 782.2 metres in a shear parallel to the foliation associated with arsenopyrite and hosted in a silica-altered gabbro unit of the Balmer assemblage, the host rock of the Red Lake mine.

William Paterson, Trillium Gold’s Vice President of Exploration commented in a press release: “Proving Gold Centre’s continuity to the EVN-RLO has always hinged on identifying the Balmer host rocks at depth which we have achieved. The results to date have been positive and we are assembling vital evidence that will allow us to focus on the high-grade gold mineralization believed to be present. We have observed all the key components on this property that are analogous to the gold mineralization next door.”

Figure 2: Plan showing holes GC21-01 through GC22-08 at north end of the Gold Centre Property, significant gold values above 0.1 g/t Au and regional magnetics survey.

Source: Trillium Gold Mines

For Trillium Gold, a discovery at Gold Centre would be tantamount to a windfall or lottery.  Finding the underground extension of a world-class, high-grade producing mine in a stable jurisdiction such as Red Lake, Ontario is a once in a lifetime situation.  

The 2022 drill program will be focused on a fifth gold trend found deeper in adjoining Red Lake. Results have only been received from the first six drill holes due to industry-wide delays in receiving assay results from the labs.

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I cover the mining industry and the best mining stocks around the world. I write about industry news, individual companies, projects, management, and profiles on industry leaders.

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