Operator

Eldorado Gold Corp.

Terms

2.0% NSR

Acquisition Date

2015 / Oct / 21

The Triangle Zone is located within the Lamaque project in the prolific Val d’Or mining district of Québec. The property is located 2.5 km south of the past producing Lamaque and Sigma Mines, which together produced more than 10 Mozs of gold.

Triangle is an Archean greenstone-hosted orogenic lode gold deposit. Gold is found within quartz-tourmaline-carbonate veins, which are hosted within a series of subparallel sub-vertical shear zones centered around a steeply plunging cylinder-shaped porphyritic diorite. Individual gold bearing vein zones and associated alteration are 4 to 5 metres thick on average and extend 500 to 700 metres horizontally and vertically. To date, seven structures have been identified by drilling from surface to around 1,000 metres vertical depth.

As of Dec. 31, 2017, the Proven and Probable Mineral Reserve at the Triangle deposit was 893 kozs of gold contained in 3.8 Mt at a grade of 7.3 g/t (3.5 g/t cut-off ) and the Measured and Indicated Resource was 1.1 Mozs contained in 3.7 Mt at 8.9 g/t gold. The Inferred Resource totals 1.1 Moz in 4.7 Mt at a grade of 7.42 g/t (2.5 g/t cut-off inclusive of Reserves).

Eldorado has begun mining and processing ore from the Triangle Zone and expects to reach commercial production during 2019. The Sandstorm royalty covers a portion of the Triangle reserves and resources.

Recent Activities

July 2018
Work at Lamaque progressed well over the second quarter with underground development slightly ahead of schedule, at 2,100 metres. Tonnage and grade of material mined to-date from the Triangle Zone is as expected and results from toll milling are reconciling well with the ore reserve block model.

June 2018
Eldorado announced that they have approximately 10,000 metres of drilling planned in 2018 focused on resource expansion in the lower Triangle deposit, and further testing and definition of new targets. The Lamaque project remains on schedule to enter commercial production in early 2019.

Roc d'or East Extension

 

Roc d'or East Extension Royalty Map
Triangle Zone Royalty Map