Contributing to The Future of Gold Mining in Canada
Gold production in Canada continues to increase, peaking at 204 tonnes in 2022 (highest in a decade), with Canada moving to 4th position in world production.
Gold is among Canada’s most valuable mined commodities, with a production value of $13.2 billion in 2022.
Brownfield projects like Troilus Gold Corp’s gold-copper Troilus project, are well-positioned to contribute to Canada’s gold production in the near term. Troilus Gold Corp has been systematically advancing and de-risking the gold-copper Troilus project toward a potential mine restart. Since inception in 2017, the project’s 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*). Most recently, the company completed a Feasibility Study on the project that has demonstrated the project’s potential to rank among the largest gold producers in Canada as a 22 year mine life, 50 ktpd open-pit mining operation with LOM average annual production of 303,000 oz AuEq.
Premier Mining Location and Resources
The company’s property covers 435 km2, and is located in in the Frotêt-Evans Greenstone Belt in Canada, a belt that has been underexplored but is often compared to the prolific Abitibi Greenstone Belt. The project is located ~170km north of Chibougamau, Quebec and is accessible by maintained roads.
Troilus is a quality brownfield project, as a former mine in production from 1996-2010.
The mine produced approximately 2 million ounces of gold and 70,000 tonnes of copper under the previous company’s owners. Troilus has inherited extensive infrastructure that has been maintained and upgraded, valued at ~US$500M, and includes: A 50MW substation and +60 kms of high-tension power lines maintained by Hydro-Quebec, a permitted tailings’ facility, and operating water treatment plants.
A Large-Scale Project with Exploration Upside
Troilus is one of the largest undeveloped gold-copper deposits in North America. The project’s 2023 Resource estimate outlines 11.21 Moz Moz AuEq in the Indicated category + 1.80 Moz AuEq in the Inferred category. The gold-copper Troilus project’s life of mine annual average AuEq production is 303, 000 oz, which would rank among the largest gold producers in Canada.
* Source:Company disclosures.
The Troilus Property includes multiple prospective targets ranging from grassroots geochemical anomalies to early-stage drill targets both near the former mine site and regionally over the 435km2 land package, highlighting the project’s significant future upside potential.
The Troilus Property is on track to becoming a significant contributor to Canadian gold and copper production.
* See AuEq disclosure at www.troilusgold.com; AuEq production assumed a 92% recovery rate for all metals; CuEq recovered metal assumes a 92% recovery rate for all metals.