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Troilus Mining Corp. reports developments tied to its Troilus copper-gold project in north-central Québec, Canada. Recurring updates cover exploration drilling across the project land package, near-mine resource growth, engineering progress, construction-readiness planning, permitting and project financing activities.
Company news also includes commercial arrangements for copper-gold concentrate, lender and export-credit agency engagement, technical validation work, and finance or governance changes that support the transition from project definition toward mine development.
Troilus Gold Corp. (TSX: TLG; OTCQX: CHXMF) announced significant assay results from its Troilus Project in Quebec, confirming strong mineral continuity in the Southwest Zone and promising initial results from the Gap Zone. Notably, hole SW-590 returned the highest grades ever recorded at 92 g/t Au over 1.1m, extending mineralization beyond the previously known boundaries. The company has reached the drilling cut-off for the updated mineral resource estimate and Pre-Feasibility Study (PFS) due mid-2022, having drilled nearly 93,000 metres since its last resource calculation in 2020.
Troilus Gold Corp. (CHXMF) has promoted Blake Hylands to President, effective April 14, 2022. Hylands, a founding member and Senior Vice-President of Exploration since 2017, played a pivotal role in expanding mineral resources significantly. Under his leadership, the company aims to enhance its corporate and geological teams, furthering its position in the Frôtet-Evans Greenstone Belt. Kyle Frank has been elevated to Manager of Exploration and Corporate Development, focusing on resource expansion. This restructuring is intended to support Troilus's growth strategy as it advances through engineering and permitting stages.
Troilus Gold Corp. (CHXMF) has announced promising drill results from the Testard target, located 10 km south of its former mine site in Quebec. The new findings include gold-rich quartz veins with significant grades, such as 4.63 g/t gold over 7.6 meters and 6.72 g/t gold over 3.2 meters. Troilus has expanded its land position to 142,000 hectares, enabling extensive geological work. CEO Justin Reid highlighted the district-scale potential, with future drilling planned to further explore these high-grade occurrences, reinforcing Troilus’s strategic foothold in the Frôtet-Evans Greenstone Belt.
Troilus Gold Corp. (OTCQX: CHXMF) announced strong metallurgical recovery results for the J Zone at its Troilus Project in Quebec. The recent tests achieved gold recovery of 92.9%, copper recovery of 90.4%, and silver recovery of 88.8% using industry-standard processing methods. These recoveries surpass those in the previous Preliminary Economic Assessment, where gold recovery was 90% and silver 40%. The results will support the upcoming Pre-Feasibility Study, with expectations of enhancing the project's economic potential.
Troilus Gold Corp. (OTCQX: CHXMF) has engaged Tugliq Energy Corp. to develop a carbon neutral roadmap for its mining operations. The roadmap aims to assess and reduce greenhouse gas emissions from past and current activities. Troilus benefits from a 50MVA electricity substation connected to Quebec's renewable hydroelectric grid, which will help minimize its carbon footprint while increasing production capacity to 246,000 ounces of gold annually. This initiative aligns with Troilus's commitment to sustainability and ESG initiatives, promoting a responsible mining operation in Northern Quebec.
Troilus Gold Corp. (OTCQX: CHXMF) reported significant regional exploration advancements at its gold-copper project in Quebec, focusing on inherited targets from its UrbanGold Minerals acquisition. In H2 2021, the company completed a 1,200-metre scout drilling at Testard, yielding notable grab samples of 203 g/t gold and 2,440 g/t silver. Troilus expanded its property by 33%, now totaling 142,000 hectares. The company is set to drill additional regional targets in the coming months as it aims to enhance mineral resource understanding and discover new deposits.
Troilus Gold Corp. has released an open letter detailing its progress in 2021, highlighting significant achievements in drilling and exploration. The company drilled approximately 100,000 metres, leading to a targeted update of mineral resources for its Pre-Feasibility Study (PFS) scheduled for mid-2022. Key appointments, like COO Richard Harrisson, enhance operational expertise. Troilus expanded its land package by 35,000 hectares through an amalgamation with UrbanGold Minerals. The company prioritizes ESG initiatives, securing ECOLOGO Certification for responsible development.
Troilus Gold Corp. (TSX: TLG; OTCQX: CHXMF) announced new assay results from the Southwest Zone of its Troilus deposit in Quebec. Ongoing drilling has confirmed significant mineralization, with a strike length expanding to 1.85 km. Highlights include hole SW-21-523 reporting 4.52 g/t AuEq over 5m. Most intercepts extend beyond the Preliminary Economic Assessment (PEA) pit shell, suggesting potential for future resource growth. The company plans to complete a new mineral resource estimate and Pre-Feasibility Study in the first half of 2022, leveraging its exploration advancements and drill density improvements.
Troilus Gold Corp. (OTCQB: CHXMF) held its Annual General Meeting on December 15, 2021, where shareholders elected new directors with over 43% of shares represented. The election results showed overwhelming approval for nominees, with all receiving over 99% of votes in favor. Additionally, shareholders approved the appointment of the Company’s auditors. Former director Andrew Cheatle did not seek re-election. Troilus aims to advance the Troilus Mine project in Quebec, which previously yielded over 2 million ounces of gold and continues to show potential for further development.
Troilus Gold Corp. announced that President and CEO Justin Reid will present live at VirtualInvestorConferences.com on October 21, 2021, at 12:30 PM ET. The company, focused on advancing the Troilus Project in Quebec, boasts a strong cash position of CAD$56 million raised earlier in 2021. Troilus holds a significant mineral resource of 4.96 Moz AuEq (Indicated) and 3.15 Moz AuEq (Inferred), with an updated resource expected in H1 2022. Investors are encouraged to register for the event, and a webcast will be available post-event.