Vancouver, British Columbia--(Newsfile Corp. - January 14, 2021) - TROUBADOUR RESOURCES INC. (TSXV: TR) (OTC Pink: TROUF) (the "Company") is pleased to announce that it has been granted a five-year area-based exploration permit for its 2,186 hectare Texas property located in the Greenwood Mining Division of Southern B.C.
The permit allows the Company to build access trails, complete trenching and establish 50 drill pads on the project over the next five years. Phase 1 work program results are still pending from the field campaign completed in the fall of 2020 and will form the basis of a robust Phase 2 program. Phase 2 work will include drilling and is expected to be completed in the first half of 2021.
"With a permit now in hand we are eager to continue to unlock the value we see in the Texas project over the coming months," states Geoff Schellenberg, Company President.
Additionally, the Company wishes to announce it has received approval from the TSX Venture Exchange for the option agreement with the property vendor to acquire a 100% interest in the Texas project previously announced on October 7, 2020.
About the Texas Project
The road accessible Texas property covers historical mineral showings and is located 3 km southwest of the town of Beaverdell and in close proximity to the past producing Beaverdell Mine1 that was in operation from 1896 to 1991. The property covers ground prospective for vein hosted precious metal deposits, based on at least seven historical and newly discovered gold occurrences on the property and geological comparisons with the nearby Beaverdell Mine1. Several showings are present on the property, including two old mines and many older trenches, pits and adits that expose mineralized veins. The Beaverdell mining camp is predominately known for its silver production and the presence of high-grade gold occurrences makes the Texas property unique and significantly more attractive. The most notable polymetallic vein showings on the property are the Doorn, Cabin and Wombat with notable grab sample2 assay results from work completed by the property vendor listed in the table below:
|Sample Number||Lithology||Location||Au g/t||Ag g/t||Cu %|
1. Referenced nearby historic resources, deposits and mines provide geologic context for the Project, but are not necessarily indicative that the Project hosts similar potential, size or grades of mineralization.
2. Grab samples are by definition selective. Grab samples are solely designed to show the presence or absence of mineralization, and are not intended to provide nor should be construed as a representative indication of grade or mineralization at the Project.
Patrick McLaughlin, P. Geo., a Qualified Person as defined by NI 43-101, supervised all technical aspects of the work programs performed by the Vendor at the Project, has verified the exploration data disclosed, including sampling, analytical and test data contained in the written disclosure, and has reviewed and approved the contents of this news release.
TROUBADOUR RESOURCES INC. (TSXV: TR) (OTC Pink: TROUF) is a public Canadian mining exploration company focused on copper and gold in British Columbia, Canada. The Company is managed by an experienced team consisting of youthful and seasoned professionals with proven track records as mine finders. The newly acquired Texas gold property diversifies the Company's commodity focus and compliments Troubadour's Amarillo copper project located 10km south of the past-producing Brenda Mine in southern BC and 35km east of Kodiak Copper's MPD discovery.
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.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.