The former Troilus Mine, located northeast of the Val-d'Or district of Quebec, produced 2 million ounces of gold and almost 70,000 tonnes of copper between 1996 and 2010.
The Troilus asset was acquired in 2017, following extensive due diligence including an in-depth geological assessment as well as economic and technical analyses. Since then, the inherited indicated mineral resources have increased 447% to 11.21 Moz AuEq (508.3 Mt with an average grade of 0.69 g/t AuEq*) and inferred mineral resources have increased 157% to 1.80 Moz AuEq (80.5 Mt with an average grade of 0.69 g/t AuEq*).
A Feasibility Study was completed in May 2024, which shows potential for Troilus to rank among the largest gold producers in Canada with LOM average annual production of 303,000 ounces AuEq over a 22-year mine life. Learn more HERE.
As a result of the previous operation, the Troilus property already has well established infrastructure valued at ~US$500 million, including an extensive network of well-maintained all-weather access roads, a 50MW substation and +60 kms of high-tension power lines maintained by Hydro-Quebec, a permitted tailings facility, and operating water treatment plants.
Troilus represents a unique opportunity for a mine restart in one of the world’s most favourable mining jurisdictions.
* Cut off grades are based on $US 1,850/ oz Au; $4.25/lb Cu, and $23.00/ oz Ag; with an exchange rate of US$1.00: CAD$1.30. Recoveries varied with an average of 90% Gold, 92.5 % Silver and 91.8% copper without considering revenues from other metals. AuEq formulas are calculated as follows: Z87 Zone : AuEq = Au grade + 1.5628 * Cu grade + 0.0128 * Ag grade; J Zone : AuEq = Au grade + 1.5107 * Cu grade + 0.0119 * Ag grade; X22 Zone : AuEq = Au grade + 1.5628 * Cu grade + 0.0128* Ag grade; SW Zone : AuEq = Au grade + 1.6823 * Cu grade + 0.0124 * Ag grade.