Troilus Gold Project

Geology & Mineral Resources

Regional Geology

The Troilus gold and copper deposits lie within the eastern segment of the Frotêt-Evans Greenstone Belt, in the Opatica Subprovince of the Superior Province in Quebec, Canada. This greenstone belt extends for more than 300 kilometres and varies from a few kilometres up to 45 kilometres in width. It is divided into two similar volcano-sedimentary domains, the west domain and the east domain, which is known as the Frotêt-Troilus Domain.

The Troilus region contains many occurrences of gold, base metals, and molybdenite mineralization; Troilus being the largest gold deposit found to date.

Characteristics of the Troilus gold-copper mineral deposit:

  • Hosted in Troilus Diorite, and in porphyritic felsic intrusions
    1. Two main zones of Au-Cu sulphide mineralization: Z87 and J4 (Chalcopyrite, pyrite, pyrrhotite)
  • Mineralization is focused on the margins of Troilus diorite (metadiorite) in breccias, amphibolite, and quartz – chlorite (±tourmaline) vein swarms
  • Disseminated mineralization accounts for ~90% of Troilus ore zone
  • Quartz veining related to possible source of higher grade material (+50 g/t Au)

2018 Mineral Resource

A technical report on the estimated mineral resources hosted at Troilus was completed by Roscoe Postle Associates Inc. in November 2018 for Troilus Gold Corp (view full report HERE). According to the conclusions of the report, there are significant underground and open pit mineral resources remaining at Troilus, where mineralized gold grade and thicknesses are very continuous and the mineralization remains open at depth.

Z87 and J Zone (J4 and J5) – Open Pit & Underground Mineral Resources

  Tonnage
(Mt)
Au
(g/t)
Cu
(%)
AuEq
(g/t)
Au
(000 oz)
Cu
(Mlb)
AuEq
(000 oz)
Indicated 121.7 0.87 0.086 1.00 3.40 231.8 3.92
Inferred 36.1 0.88 0.083 1.01 1.02 66.2 1.17

Total Open Pit Mineral Resources Only

  Tonnage
(Mt)
Au
(g/t)
Cu
(%)
AuEq
(g/t)
Au
(000 oz)
Cu
(Mlb)
AuEq
(000 oz)
Indicated 97.5 0.76 0.078 0.88 2.37 167.0 2.7
Inferred 21.7 0.60 0.062 0.69 0.42 29.7 0.5

Z87 - Open Pit Mineral Resources

  Tonnage
(Mt)
Au
(g/t)
Cu
(%)
AuEq
(g/t)
Au
(000 oz)
Cu
(Mlb)
AuEq
(000 oz)
Indicated 56.6 0.83 0.096 0.98 1.51 119.4 1.8
Inferred 12.1 0.58 0.066 0.68 0.23 17.5 0.3

J Zone - Open Pit Mineral Resources

  Tonnage
(Mt)
Au
(g/t)
Cu
(%)
AuEq
(g/t)
Au
(000 oz)
Cu
(Mlb)
AuEq
(000 oz)
Indicated 40.8 0.66 0.053 0.74 0.86 47.6 1.0
Inferred 9.6 0.61 0.058 0.70 0.19 12.2 0.2

Total Underground Mineral Resources Only

  Tonnage
(Mt)
Au
(g/t)
Cu
(%)
AuEq
(g/t)
Au
(000 oz)
Cu
(Mlb)
AuEq
(000 oz)
Indicated 24.2 1.32 0.121 1.50 1.02 64.8 1.2
Inferred 14.4 1.31 0.115 1.49 0.61 36.5 0.7

Notes:

  • CIM definitions were followed for Mineral Resources.
  • Open pit Mineral Resources were estimated at a cut-off grade of 0.3 g/t AuEq and were constrained by a Whittle pit shell. Underground Mineral Resources were estimated at a cut-off grade of 0.9 g/t AuEq.
  • Mineral Resources were estimated using long-term metal prices of US$1,400 per ounce gold and US$3.25 per pound copper; and an exchange rate of US$1.00 = C$1.25.
  • AuEq = Au Grade + 1.546 * Cu grade
  • A recovery of 83% was used for gold and 92% for copper.
  • Figures have been rounded to the appropriate level of precision for the reporting of Mineral Resources.
  • Due to rounding, some columns or rows may not compute exactly as shown.
  • Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues