Acquisition:
2022 / 08 / 15
Agreement:
Royalty
Terms:
1.0% NSR
The Troilus Project is located in central Quebec, Canada, and is situated approximately 120 km north of the city of Chibougamau. The Troilus deposit lies within the eastern segment of the Frotêt-Evans Greenstone Belt, and it is primarily a gold-copper deposit, but contains minor amounts of silver, zinc, and lead.
The project encompasses the historic Troilus Mine, which was an open pit operation producing gold, copper, and silver continuously from 1996 to 2009. The mine produced over two million ounces of gold and approximately 70,000 tonnes of copper.
A Preliminary Economic Assessment was published in October 2020 that concluded the Troilus Project could be developed as a phased open pit and underground operation. The pits and underground would feed a 35,000 tpd mill over a 21-year mine life. The process facility would be a conventional crushing and grinding plant followed by flotation, and some of the gold would be recovered by gravity to produce a doré on site.
Based on a revised Mineral Resource Estimate announced in October 2023, total Indicated Mineral Resource of 508.3 Mt containing 11.21 Moz AuEq grading 0.57 g/t Au, 0.07% Cu, 1.09 g/t Ag at 0.69 g/t AuEq, and total Inferred Resources of 80.5 Mt containing 1.80 Moz AuEq grading 0.58 g/t Au, 0.07% Cu, 1.47 g/t Aq at 0.69 g/t AuEq (based on open pit cut-off grade of 0.3 g/t AuEq and underground cut-off grade of 0.9 g/t AuEq). For more information, see www.troilusgold.com.
