08:47 AM EDT, 09/03/2024 (MT Newswires) -- Troilus Gold ( CHXMF ) reported Tuesday positive drill results from its 1,866-meter drill program on the West Rim target at its Troilus project in Quebec.

Highlights include 20 meters grading 1.66 grams per tonne (g/t) gold equivalent, including 8 meters grading 3.10 g/t gold equivalent.

"The characteristics of the West Rim target are highly promising, and our primary exploration objective here is to identify and add higher-grade ounces that could be incorporated early in the mine plan," CEO Justin Reid said.

The company said it is reviewing drilling data to refine its targeting strategy for the next round of drilling, which will commence in the coming weeks.

Troilus's share price closed 1.3% lower on Friday at $0.37, which was at the low end of its 52-week range.