08:18 AM EDT, 05/30/2024 (MT Newswires) -- Troilus Gold ( CHXMF ) , which rose 4% yesterday, on Thursday said it has found a new gold zone at its Troilus project in Quebec.

The new zone, dubbed the West Rim Zone, is within 200 metres west of the North Reserve Pit Shell (Zones 87, J & X22) , the company said. The latest results are part of an ongoing 25,000m drilling campaign designed to expand and define select drill targets along the main mineral corridor and regionally.

The West Rim intersected 1.37 g/t gold equivalent (AuEq) over 11 m within a broader intersection of 0.74 g/t AuEq over 32 m starting at just 21 m downhole. The discovery also confirmed the continuity of Zone X22 mineralization to a depth of 550m, Troilus said.

"The West Rim is a highly prospective corridor spanning 4km in length, 1km of which has never been drilled and is open for follow up drilling and delineation of mineralization," said Justin Reid, chief executive officer of Troilus. "Moreover, results from Zone X22 have extended mineralization past 500 meters depth, supporting the future potential of underground development."