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 sub-parallel 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.
A new technical report was published for the Lamaque Project in February 2022, which included updated Resource Estimates for the Upper Triangle and Lower Triangle zones of the Triangle deposit. As of September 30, 2021, the Measured & Indicated Resources at Upper Triangle are 1.72 Moz contained in 6.2 Mt at a grade of 8.65 g/t and the Inferred Resource is 382,000 oz in 1.8 Mt at a grade of 6.6 g/t. The Lower Triangle zone has an Inferred Resource of 1.42 Moz contained in 6.4 Mt at a grade of 6.9 g/t. The Mineral Resources cut-off grade is 3.0 g/t gold.
Eldorado achieved commercial production in March 2019. The Sandstorm royalty covers a portion of the Triangle reserves and resources.