Troubadour Announces 2020 Exploration Plans
Vancouver, British Columbia--(Newsfile Corp. - February 27, 2020) - TROUBADOUR RESOURCES INC. (TSXV: TR) (OTC Pink: TROUF) (the "Company") is pleased to announce 2020 exploration plans at the Company's 100% owned Amarillo Copper Project, Southwestern BC.
Drilling on the 1km long Trench Anomaly in late 2019 lead to a new porphyry discovery and returned an intercept of 0.14% CuEq over 11.5m (see Company news release dated January 16, 2020). Geophysical and geochemical analysis suggests the discovery intersection clipped the north side of a large porphyry copper target. Staking immediately after the discovery has secured the prospective ground extending towards the south.
Exploration Plans for 2020:
2,000m of drilling focused on the extensive Trench Anomaly, following up on the 2019 drill discovery of 0.14% CuEq over 11.5m as well as other high priority targets.
Expand geophysical coverage to include newly acquired ground to the south and high priority regional targets following up on grab samples assaying 0.43% and 0.49% Cu.
Age dating of porphyry mineralization to understand the relationship with district scale mineralization.
"We are very encouraged by the alteration and mineralization encountered during the latest drill program. This is a brand-new discovery in an area that has seen exploration activity for decades. Using a systematic approach to exploration, we discovered a new porphyry system in only our sixth exploration drill hole. We have just touched the edge of a large porphyry system within the extensive Trench Anomaly and see great potential for increased grade and thickness of mineralization as we explore south to the core of the anomaly," states Geoff Schellenberg, Company President.
The porphyry mineralization encountered in the Fall 2019 drill program transitioned the Company's exploration model from concept to reality and was a large step forward for the project. The age of the mineralizing event at Amarillo is an important indicator in the prospectivity of the project and has been a recurring question in meetings with industry peers who have shown interest in the project. The company is currently in the final stages of selecting a supplier of this service and expects to receive this age data in Q2.
In addition to the age dating, the Company is planning to extend existing geophysical coverage to include the newly acquired ground located south of the Trench Anomaly ("Trench Anomaly extension") as well as the North Copper Target situated 3km north of the 2019 discovery drilling. Priority will be given to the Trench Anomaly extension that encompasses 1,270 ha of prospective new ground recently acquired through staking, increasing the overall project size to 5,449 ha. The existing magnetic and chargeability anomalies trend onto this newly acquired ground.
The Company is also expanding geophysical coverage to the high priority North Copper Target area where two grab samples returned 0.43% and 0.49% Cu (see Company news release dated January 8, 2019). With drill permits in hand, geophysics will improve targeting and drilling success at the North Copper Target.
In 2020 the Company plans 2,000m of drilling to test the extension of the new discovery resulting from the 2019 drill program as well as new priority targets generated from the expanded geophysical coverage. The Company's exploration plans are subject to adequate funding.
Stock Option Grant
The Company wishes to announce that is has granted incentive stock options to directors, officers and consultants, exercisable to purchase up to 1,100,000 common shares of the Company at an exercise price of $0.05 for a period of five years. The incentive stock options were granted in accordance with the Company's Stock Option Plan.
Patrick McLaughlin, P. Geo., a Qualified Person as defined by NI 43-101, has reviewed and approved the contents of this news release.
The Amarillo project is host to some of the more prospective targets developed in this world class southern BC porphyry belt in decades. The multiple overprinting anomalies (e.g. soil geochem, prospecting and geophysical anomalies) established over the last couple of years, compound the potential for a major discovery.
The Amarillo Project consists of nine (9) mineral tenures totalling 5,449 hectares and is situated within the heart of a major mining district. 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 mining operations including the producing Copper Mountain mine located 60km to the southwest and the past producing Brenda mine located 10 kilometres to the north.
For further information please contact:
Troubadour Resources Inc.
625 Howe Street, Suite 488
Vancouver, BC V6C 2T6
Geoff Schellenberg, President
Office: (604) 681-0221
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.
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