2 Travel Group Share Discussion Threads

[stu31] 02/4/2024 20:22

Troilus Provides Operational Update
28/03/2024 11:00am

Troilus Gold Corp. (TSX: TLG; OTCQX: CHXMF; FRA: CM5R) (“Troilus̶1; or the “Company”;), provides an operational update related to the advancement of its gold-copper Troilus Project (“Troilus̶1; or the “Project”;), located in northcentral Quebec; one of the largest undeveloped gold equivalent deposits in North America.
Operational Update

The Feasibility Study for the Troilus Project is proceeding well, as the various components of the report approach finalization to create a cohesive picture of the potential future operation. Results from trade-off studies undertaken to finalize optimal size and scope of the future mine against expected CAPEX, generated outcomes that have presented an opportunity to reassess the proposed scale of the Project while prioritizing the production of copper and higher-grade gold in the early years of contemplated production to align with the Quebec Government’s Strategic Metals Initiative. On the recommendation of the Feasibility Study Technical Team, Troilus’ Senior Management and its Board of Directors have determined that these results are expected to achieve the best outcome possible. The Technical Team has been applying this new information to the extensive work prepared to date for the Feasibility Study and projects a few more weeks to incorporate these results into the final design and mine plan. As such, the Feasibility Study is now expected to be released in May 2024.

Justin Reid, CEO of Troilus, commented, “While we are all eager to achieve the major milestone of publishing the Feasibility Study and launching Troilus to its next stage of development, we know that the decisions we make now could have implications for decades to come. We believe we have identified an opportunity to further optimize the Troilus Project and that it is in the interests of all stakeholders to apply these new results to our existing body of work for the Feasibility Study. This includes ensuring alignment with the Quebec government’s focus on the production of strategic metals since Troilus is the largest permitting-stage copper project in the province based on our current mineral resource estimate.”

Warrant Exercises

Troilus is pleased to report a cash injection of approximately $3 million to date this month from the exercise of approximately 40% of the warrants issued as part of the bought deal financing completed in November 2023.

Justin Reid, CEO of Troilus, commented, “We see these exercises as a vote of confidence from some of our major shareholders. These warrant exercises infuse cash into our treasury, strengthening our financial position as we progress Troilus towards a construction decision.”

About Troilus Gold Corp.

Troilus is a feasibility-stage Canadian mining company focused on the systematic advancement and de-risking of the former gold and copper Troilus Mine towards production. The 435 km² Troilus property is located in the top-rated mining jurisdiction of Quebec, Canada, within the prospective Frôtet-Evans Greenstone Belt. From 1996 to 2010, the Troilus Mine produced +2 million ounces of gold and nearly 70,000 tonnes of copper. Since acquiring the project in 2017, ongoing exploration success has demonstrated the tremendous scale of the gold system on the property, which currently hosts 11.21 Moz AuEq (508.3 Mt with an average grade of 0.69 g/t AuEq) in the Indicated Mineral Resource category and 1.80 Moz AuEq (80.5 Mt with an average grade of 0.69 g/t AuEq) in the Inferred Mineral Resource category, making it the largest undeveloped gold deposit in Canada. Led by an experienced team with a track-record of successful mine development, Troilus is positioned to become a cornerstone project in North America.

[stu31] 22/1/2024 20:42

TROILUS PROVIDES A RECAP OF 2023 ACCOMPLISHMENTS & AN OUTLOOK FOR 2024

January 9, 2024, Montreal, Quebec – Troilus Gold Corp. (TSX: TLG; OTCQX: CHXMF; FRA: CM5R)(“Troilus” or the “Company”;), is pleased to provide a review of its key accomplishments in 2023 as well as an outlook for 2024 in this open letter to shareholders from Chief Executive Officer and Director, Justin Reid.
To our valued shareholders and stakeholders,
As we close another year, it is with pride that I look back on the significant accomplishments Troilus has made in 2023. Despite a turbulent year in the junior mining sector, compounded by the unforeseen challenges of the devastating forest fires in Quebec, our steadfast focus and commitment significantly enhanced the Troilus Project, establishing it as one of the largest undeveloped goldcopper deposits in North America. As a founder and significant shareholder of the Company, I share the sentiment of aspiring for greater returns and am excited about the potential that 2024 holds.
This year will see major de-risking milestones that promise to solidify Troilus as a frontrunner among development-stage mining companies, positioning the Company and our valued shareholders for success.
Key developments of 2023:
 Successful Exploration and Expansion: Building on our 2022 drilling success, we continued to focus on the definition and expansion of Zone X22. Our efforts here were instrumental in significantly contributing to the growth of our October 2023 Mineral Resource Estimate(“MRE”).
 Significant Mineral Resource Growth: The 2023 MRE showcased a substantial increase
compared to our 2020 estimate – the Indicated category growing 126% in ounces and 127% in tonnes, with nearly all Inferred Resources from the 2020 MRE transitioning to the Indicated category.
 World-Class Project Scale: The Troilus gold-copper deposit now hosts one of the largest undeveloped gold resources in North America, with a gold equivalent mineral resource of 11.21 Moz* in the Indicated category and 1.80 Moz AuEq* in the Inferred category.
 Large Copper Resource: Copper represents a meaningful proportion of the Troilus deposit with a total of 729.5 million pounds grading 0.07% in the Indicated category.
 Permitting and Community Engagement: We've made steady progress with Federal and
Provincial permitting processes, conducting successful ongoing public consultations with impacted communities and progressing the completion of our Environmental and Social Impact Assessment (“ESIA”).
SUCCESSFUL EXPLORATION PROGRAM
2023 reflected the focused and dedicated efforts of the exploration team, particularly with the success of the drilling program at Zone X22 which has become synonymous with some of the highest,thickest, and most continuous grades at Troilus.
 ~22,000 metres were drilled at X22, expanding the zone's mineral footprint from 300m to approximately 1km, and confirming a consistent pattern of continuous high-grade nearsurface structures along this strike length.
 X22 returned among the highest results in Troilus’ history, including 1.80 g/t AuEq over 80m (X22-23-071), 19.9 g/t AuEq over 7m (X22-23-030), 103.8 g/t AuEq over 1m (X22-23-042) and 14.7 g/t AuEq over 7m (X22-23-067).
 X22 represents a small portion of our total drilling at Troilus, however this zone significantly contributed to our resource growth, and the proximity of this zone to the main mineral corridor made evident the potential impact it could have on the economic modeling of our project in the upcoming Feasibility Study.
UPDATED MINERAL RESOURCE ESTIMATE SHOWED GROWTH & SCALE
In October, we delivered an updated mineral resource estimate of 11.21 Moz AuEq (508.3Mt with an average grade of 0.69 g/t AuEq*) in the Indicated category and 1.80 Moz AuEq (80.5Mt with an average grade of 0.69 g/t AuEq*), marking an impressive 447% increase in Indicated AuEq ounces since our inception. This updated MRE firmly established Troilus among the largest undeveloped gold-copper deposits in North America. Furthermore, nearly all ounces in the MRE are categorized as 'open pit', and we saw nearly 100% conversion from Inferred to Indicated resources from the previous MRE, setting an excellent foundation for our upcoming Feasibility Study, expected this quarter.

PERMITTING ADVANCEMENTS & PRIORITIY ON SUSTAINABLE DEVELOPMENT
In 2023, we reinforced our commitment to responsible project development by implementing a Sustainable Development Policy, which establishes a structured framework that aligns our operation with the highest environmental, social, and ethical standards. This new policy aims to foster prosperity among our employees and their families, support local communities, and encourage collaboration with
local service providers. Beyond compliance, our efforts always aim to positively impact all our stakeholders.
The environmental permitting process steadily continued at both Federal and Provincial levels in 2023.
Public consultations were successfully conducted by the Impact Assessment Agency of Canada and the Cree Nation Government in the local communities of Chibougamau, Mistissini, and Chapais, with insights and feedback from these meetings forming an important part of the ESIA. This report, underway by Stantec, is anticipated for completion by the end of 2024.
LOOKING AHEAD TO 2024
With a series of significant milestones on our horizon, 2024 is shaping up to be another transformative year for Troilus as we continue to steadily de-risk and advance our project towards production. Here’s what you can expect from us this year:
• Completion of a Feasibility Study expected in Q1 2024, including an inaugural Mineral Reserve estimate.
• Approximately 25,000 metres of drilling, including:
o Expansion and definition drilling at select targets along the main mineral corridor.
o Condemnation drilling to ensure the planned mine infrastructure locations are free of economically significant mineralization.
o Continuation of exploration activities, including targeted drilling, at prospective regional targets.
• Completion of the Environmental and Social Impact Assessment by calendar year-end
• Continuous monitoring of the dynamic ESG landscape to identify new opportunities that will ensure the sustainable development of our project.
As we forge ahead, we express our sincere gratitude to our shareholders and all stakeholders for their ongoing support.

[stu31] 25/2/2021 18:36

Troilus Extends Gold Bearing Zone Well Beyond Pea Pit Limits in the Southwest Zone With Intercepts of 1.16 g/t AuEq Over 18m,...
24/02/2021 12:30pm

Troilus Gold Corp. (TSX: TLG; OTCQB: CHXMF) (“Troilus̶1; or the “Company”;) reports additional drill results from recent exploration drilling at its 100%-owned Troilus Gold Project (“Troilus̶1; or the “Project”;) located in north central Quebec, Canada. These latest results represent exploration and step out holes located in the Southwest Zone, a priority growth target which was discovered and drilled in late 2019 and early 2020 (See Figure 1). Results continue to define significant mineral expansion well beyond the pit proposed in the Preliminary Economic Assessment (“PEA”) (See press release dated August 31, 2020) (See Figure 2). Highlights include:
ZSW20-209 extended known mineralization an additional 250 metres east of the PEA defined pit shell, over 225m below it and remains open, suggesting potential for continued resource growth (see Figure 3). Intercept highlights include:

1.08 g/t AuEq over 16m, incl. 1.87 g/t over 7m and 2.56 g/t over 4m
1.13 g/t AuEq over 8m, incl. 4.45 g/t AuEq over 1m and 1.28 g/t over 1m
ZSW20-211 intersected substantial mineralization approximately 75m below the PEA pit shell and extended down dip mineralization to at least 500m from surface (see Figure 3). Intercept highlights include:

1.48 g/t AuEq over 6m, incl. 6.9 g/t over 1m
1.28 g/t AuEq over 9m, incl. 5.3 over 1m, 3.3 g/t over 1m and 2.4 g/t over 1m
1.37 g/t AuEq over 8m, incl. 3 g/t over 1m
ZSW20-208 extended the defined ore zone down dip over 200m below the PEA pit shell having markedly higher grades than previously reported in hole ZSW20-187 (see May 14, 2020 press release), located approximately 150m above it (See Figure 4). The mineralized trend remains open at depth. Intercept highlights include:

1.16 g/t AuEq over 18m, incl. 2.36 g/t over 7m and 11.09 g/t over 1m
3.44 g/t AuEq over 2m, incl. 5.46 g/t over 1m; and 3.10 g/t AuEq over 1m located in a previously undrilled area within the PEA pit shell
“These continued positive results in the Southwest Zone are demonstrating a potential scale that is exceeding our expectations,” stated Justin Reid, CEO of Troilus Gold. “The results from holes 209 and 211 have defined an expanded mineral system that dwarfs the pit shell proposed in the PEA completed last year with strong extensions of mineralization all located within 500m from surface. It’s very exciting to see the Southwest Zone rapidly evolving from its initial discovery just over 1 year ago. We are eager to continue targeted drilling in this area to better define the potential of what could rapidly become a very large system with multi-million ounce resource potential of a scale we believe could be in-line with the main zone Z87, or potentially larger.”

This Southwest Zone is located approximately 2.5 kilometres southwest of the former mine site and main mineral resource area (See Figure 1). It was initially discovered and drilled in late 2019 and early 2020 following some new geologic modelling work by Troilus’ technical team. A minimal 8,500 metres of drilling in this zone has already outlined an estimated Inferred resource of 580,000 oz of gold equivalent ounces (22.6 Mt, at avg. grade of 0.80 g/t AuEq). The Company is working towards an updated mineral resource estimate and Pre-Feasibility Study, expected for completion in the second half of 2021.

[stu31] 25/2/2021 18:29

Troilus Drills 6.66 g/t AuEq Over 3m, 1.20 g/t AuEq Over 16m and 1.13 g/t Over 21m, Confirming Down Dip Extension of Minerali...
09/02/2021 12:30pm

Troilus Gold Corp. (TSX: TLG; OTCQB: CHXMF) (“Troilus̶1; or the “Company”;) reports new assay results from the Fall/Winter 2020 drill program at its 100%-owned Troilus Gold Project (“Troilus̶1; or the “Project”;) located in north central Quebec, Canada. The following drill holes were received from the Southwest Zone, a priority growth target which was discovered and drilled in late 2019 and early 2020 (See Figure 1). These results have identified previously unidentified extensions of mineralization at depth, and confirmed continuity of mineralization within previously undrilled areas of the pit proposed in the Preliminary Economic Assessment (“PEA”) (See press release dated August 31, 2020).
Highlights include:

• New higher-grade zones extend known mineralization at least 100 metres below the PEA pit in hole TLG-ZSW20-203 (see Figure 2):

• 1.20 g/t AuEq over 16m

• 6.66 g/t AuEq over 3m, including 17.92 g/t AuEq over 1m

• 1.13 g/t AuEq over 2m, including 2.61 g/t AuEq over 1m, 2.10 g/t AuEq over 1m and 11.76 g/t AuEq over 1m

• New high-grade zone outlined within 50 metres of surface within the PEA pit in step-out hole TLG-ZSW20-200 (see Figure 3):

• 1.44 g/t AuEq over 6m and 3.35 g/t AuEq over 1m within a broader intersection of 1.07 g/t AuEq over 9m

• Several high-grade intersections within broader intervals, located over 100 metres below the pit wall proposed in the PEA in hole TLG-ZSW20-200, including:

• 20.42 g/t AuEq over 1m, 2.05 g/t AuEq over 1m, and 2.98 g/t AuEq over 3m, incl. 8.30 g/t AuEq over 1m
“We are very pleased with the latest results from the Southwest Zone, which confirmed some targeted down dip extensions and also identified new zones of mineralization outside of the current mineral resource envelope and within the PEA pit,” said Justin Reid, Chief Executive Officer of Troilus. “Furthermore, we continue to encounter higher-grade domains within broader disseminated mineralized zones consistent with the largest ore body at Troilus, Zone Z87, located 2.5 kilometres to the northeast. As we define the scale and extent of the Southwest Zone, we are observing a continuity of mineralization from previously undrilled zones within the PEA pit, and continued expansion well beyond it, which could not only enhance the economics of the project by reducing the strip ratio but also provide an opportunity to increase the production profile in the Pre-Feasibility Study planned later this year. The Southwest Zone remains entirely open to further expansion and will continue to be a priority drill target in 2021.”

This Southwest Zone is located approximately 2.5 kilometres southwest of the former mine site and main mineral resource area (See Figure 1). It was initially discovered and drilled in late 2019 and early 2020 following some new geologic modelling work by Troilus’ technical team. A minimal 8,500 metres of drilling in this zone has already outlined an estimated Inferred resource of 580,000 oz of gold equivalent ounces (22.6 Mt, at avg. grade of 0.80 g/t AuEq).

[stu31] 03/12/2020 01:38

Troilus Completes C$22.1M Bought Deal Financings
01/12/2020 1:52pm

Troilus Gold Corp. (TSX: TLG) (OTCQB: CHXMF) (“Troilus̶1; or the “Company”;) announces that it has closed its previously announced bought deal public offering pursuant to which it has issued 6,290,500 common shares of the Company that qualify as “flow-through shares” for the purposes of the Income Tax Act (Canada) and Taxation Act (Quebec) (the “Flow-Through Shares”), at a price of C$1.92 per Flow-Through Share for gross proceeds of approximately C$12.1M, including 820,500 Flow-Through Shares issued in connection with the exercise in full of the over-allotment option granted to the Underwriters (as defined below).
In addition, Troilus has closed its previously announced bought deal private placement pursuant to which it has issued 9,100,000 common shares (the “Common Shares”) of the Company, at a price of C$1.10 per Common Share for gross proceeds of C$10,010,000.

The Common Shares and the Flow-Through Shares are collectively referred to herein as the “Offered Shares”. The aggregate gross proceeds of the two offerings are approximately C$22.1 million. The offerings were led by Cormark Securities Inc., on behalf of a syndicate of underwriters including Stifel GMP, Haywood Securities Inc., Canaccord Genuity Corp., Scotia Capital Inc., BMO Nesbitt Burns Inc., Laurentian Bank Securities Inc. and Red Cloud Securities Inc. (collectively, the “Underwriters”).

On November 9, 2020, concurrently with the announcement of the offerings, the Company announced entering into an agreement pursuant to which it has repurchased and cancelled the sliding 2.5% Net Smelter Royalty (“NSR”) from First Quantum Minerals Ltd. (“FQML”) attached to the 81 mineral claims and one surveyed mining lease known as the Troilus Mine, for cash consideration of C$20 million. The buy-back transaction was completed shortly after its announcement. The net proceeds from the offerings will serve to replenish the Company’s balance sheet following the utilisation of cash on hand for the buy-back of the FQML NSR.

The proceeds of the sale of the Flow-Through Shares will be used on exploration expenses on the Troilus Gold Project as permitted under the Income Tax Act (Canada) and the Taxation Act (Quebec) to qualify as “Canadian exploration expenses”, “flow-through mining expenditures” and, for eligible investors, for the two 10% enhancements under section 726.4.9 and section 726.4.17.1 of the Taxation Act (Quebec). The proceeds of the sale of the Common Shares will be used for the Company’s previously planned development program for the Troilus Gold Project and for general and administrative expenses.

The Flow-Through Shares were qualified for distribution by way of short form prospectus in each of the provinces of Canada, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions. The Common Shares were offered on a private placement basis solely in the United States pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and internationally, as permitted. All the Common Shares purchased in the private placement were acquired by two funds associated with a large, value focused, US institution.

The Offered Shares have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

[stu31] 09/11/2020 22:45

Troilus Enters Definitive Agreement to Buy Back 2.5% NSR From First Quantum and Announces C$10.5M Bought Deal Public Offering...

TORONTO, Nov. 9, 2020 /CNW/ - Troilus Gold Corp. (TSX: TLG) (OTCQB: CHXMF) ("Troilus" or the "Company") announces that it has entered into a definitive agreement with First Quantum Minerals Ltd. ("FQML") pursuant to which it will buy back the sliding 2.5% Net Smelter Royalty (the "NSR") attached to the 81 mineral claims and one surveyed mining lease known as the Troilus Mine, which were previously acquired from FQML (see press release dated April 12, 2018), thereby cancelling the FQML NSR. In consideration for the repurchase and cancellation of the FQML NSR, Troilus will pay cash consideration of C$20M to FQML from cash on hand. The transaction is expected to close within the next 24 hours.

Troilus also announces that it has entered into an agreement with Cormark Securities Inc., on behalf of a syndicate of underwriters (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought deal public offering basis 5,470,000 common shares of the Company that qualify as "flow-through shares" for the purposes of the Income Tax Act (Canada) and Taxation Act (Quebec) (the "Flow-Through Shares"), at a price of C$1.92 per Flow-Through Share (the "Flow-Through Offering Price") for gross proceeds of C$10,502,400.

Pursuant to the agreement, the Underwriters have also agreed to purchase, on a bought deal private placement basis, 9,100,000 common shares (the "Common Shares") of the Company, at a price of C$1.10 per Common Share (the "Common Share Offering Price") for gross proceeds of C$10,010,000.

The Common Shares and the Flow-Through Shares are collectively referred to herein as the "Offered Shares". The aggregate gross proceeds of the two offerings will be approximately C$20.5 million.

Troilus CEO Justin Reid commented, "We view the buy-back of the FQML NSR as a highly accretive transaction to Troilus shareholders based on the modelling and economics as presented in the recently filed positive preliminary economic assessment (see news releases dated August 31, 2020 and October 15, 2020). When presented with the chance to repurchase and cancel a 2.5% NSR on the Troilus Project, we were eager to take advantage of this opportunity to further improve the economics and value of our project. Subject to completion, the proceeds of the offerings will replenish our balance sheet and enable us to accomplish our exploration and development objectives."

The Underwriters also have an option to purchase up to 820,500 additional Flow-Through Shares at the Flow-Through Offering Price, for market stabilization purposes and to cover over-allotments, if any, for a period expiring 30 days after the date of closing for additional proceeds of up to C$1,575,360, assuming the over-allotment is exercised in full.

The net proceeds from the offerings will serve to replenish the Company's balance sheet following the utilisation of cash on hand for the buy-back of the FQML NSR. The Company would not have proceeded with the buy-back transaction without entering into the agreement for the offerings and thereby preserve its strong cash position.

The proceeds of the sale of the Flow-Through Shares will be used on exploration expenses on the Troilus Gold Project as permitted under the Income Tax Act (Canada) and the Taxation Act (Quebec) to qualify as "Canadian exploration expenses", "flow-through mining expenditures" and, for eligible investors, for the two 10% enhancements under section 726.4.9 and section 726.4.17.1 of the Taxation Act (Quebec). The proceeds of the sale of the Common Shares will be used for the Company's previously planned development program for the Troilus Gold Project and for working capital purposes.

The Flow-Through Shares will be offered by way of short form prospectus in each of the provinces of Canada, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions and some may be resold in the United States pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and in such other jurisdictions outside of Canada and the United States as agreed to by the Company, in each case in accordance with all applicable laws and provided that no prospectus, registration statement or similar document is required to be filed in such jurisdiction.

The Common Shares will be offered on a private placement basis solely in the United States pursuant to an exemption from the registration requirements of the U.S. Securities Act, and internationally, as permitted. It is intended that the Underwriters will seek to arrange for a large, value focused US institution to acquire all or a significant portion of the Common Shares as a substituted purchaser for the Common Shares.

The offerings are scheduled to close on or before December 1, 2020 and are subject to certain conditions including, but not limited to, receipt of all applicable regulatory approvals, including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities.

The Offered Shares have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Troilus Gold Corp.

Troilus is a Toronto-based, Quebec focused, advanced stage exploration and early-development company focused on the mineral expansion and potential mine re-start of the former gold and copper Troilus mine. The 107,326 hectare Troilus property is located within the Frotêt-Evans Greenstone Belt in Quebec, Canada. From 1996 to 2010, Inmet Mining Corporation operated the Troilus project as an open pit mine, producing more than 2,000,000 ounces of gold and nearly 70,000 tonnes of copper.

[stu31] 23/10/2020 03:06

Troilus Reports Up to 203 g/t (6.53 oz/Tonne) Gold, 2,440 g/t (78.45 oz/Tonne) Silver and 4.37% Copper From Insitu Sample Loc...
19/10/2020 12:30pm

Troilus Gold Corp. (TSX: TLG) (OTCQB: CHXMF) (“Troilus̶1; or the “Company”;) is pleased to report further results from the summer 2020 regional exploration program on its 100%-owned Troilus Project, located northeast of Chibougamau, Quebec, including the highest insitu gold grades recovered to date within the Frôtet-Evans Greenstone Belt. Earlier this year, Troilus increased its land position by more than 90,000 ha, becoming the largest claim holder within this highly prospective greenstone belt (see press releases dated April 28, July 21 and October 8, 2020). The exploration program focused on generating high-priority targets within this extensive land package. Results reported herein were obtained from our newly defined Testard target (see Figure 1), located approximately 10 kilometres south of the main mineral resource area (Zones Z87, Z87 South, J Zone and Southwest) and mine site.
Highlights from the Testard Zone:

203 g/t (6.53oz/t) gold, 2,440 g/t (78.45 oz/t) silver and 4.37% copper from outcrop (Sample Y939452).
Additional Testard outcrop samples:
54.2 g/t gold (Sample Y939451)
34.9 g/t gold (Sample Y939441)
13.55 g/t gold (Sample Y939446)
8.44 g/t gold (Sample Y939444)
8.25 g/t gold (Sample Y939445)
2.35 g/t gold (Sample Y346903)
As well as 31.5 g/t and 13.4 g/t silver (Samples Y346903 and Y346902)
Mineralization occurs within a 35-45 metre wide zone of brittle deformation and quartz vein swarms, hosted within a broad, undelineated intrusive tonalite package.
Similar Testard mineralization has been traced in outcrop on Troilus ground up to 400 metres from the main showing.
The silica flooding and brittle features that host gold bearing sulphides at Testard have the same characteristics as the Troilus mine and the newly discovered Southwest Zone.
Results from 35 surface samples obtained in the vicinity of the Testard showing are still pending. Extensive mechanical clearing has been completed and channel samples were taken with further results pending.
“We are thrilled with the latest insitu results including, the highest grade gold occurrence on our property to date and the highest ever reported in outcrop within the Frotêt-Evans Belt, located only 10 kilometres from our resource and mine site,” said Justin Reid, CEO of Troilus. “What’s particularly exciting about these results is that the geological characteristics of the Testard Zone and host rock are not only the same as our main mineral resource zones, including the newest Southwest Zone discovered earlier this year, but also hold many geological similarities to the recently announced Beyan Gold Zone Discovery (see press release dated September 30, 2020) and the Goldfield Boulder Zone discovery (see press release dated October 8, 2020), located 8 kilometres and 36 kilometres away from the Troilus mine site. To date, gold bearing outcrops displaying the same geological features as these positive Testard results have already been traced over a strike length of 400 metres and we look forward to pending results and further planned work to better define this zone. Results from our regional exploration program continue to validate our revised geologic model and exploration approach. The scale and range of the gold-bearing system at Troilus is very exciting, and continues to strengthen our confidence in the district potential of our project.”

During the initial work program, which included outcrop stripping, bedrock mapping and boulder tracing, Troilus’ exploration team identified several mineralized outcrops on the main Testard Block, assaying up to 203 g/t gold with the best results highlighted in Table 1 below. The Testard showing is characterized by quartz veining in a distinct brittle shear zone, cross cutting a large, spatially undefined tonalite, over a distance of 30 metres (see Figure 2). Chalcopyrite is associated locally with veining. Locally the tonalite is strongly deformed and altered.

The Testard area is almost entirely till covered with limited outcrop exposure, however local stripping completed to date has traced similar Testard mineralization in outcrop up to 400 metres from the main showing. In light of these positive results, Troilus will be prioritizing additional work at Testard including further clearing, ground geophysics and prospecting through the conclusion of the fall season.

[stu31] 08/10/2020 19:10

Troilus Discovers New Goldfield Boulder Zone 36 Km From Troilus Mine With Samples up to 26.2 g/t Gold and 27.8 g/t Silver
08/10/2020 12:00pm

Troilus Gold Corp. (TSX: TLG) (OTCQB: CHXMF) (“Troilus̶1; or the “Company”;) is pleased to announce the latest results from its summer 2020 regional exploration program on its 100%-owned Troilus Project, located within the Frôtet-Evans Greenstone Belt of northern Quebec. The program focused on identifying high priority targets within the extensive land package Troilus acquired and staked earlier in the year (the “Troilus-Frôtet Property”) (see press releases dated April 28, 2020 and July 21, 2020). Initial results collected 28 km southwest of the recently announced Beyan Gold Zone Discovery (see press release dated September 30, 2020), have outlined another new zone of mineralization: the Goldfield Boulder Zone (“Goldfield221;). Gold bearing boulders and outcrop can be traced and defined in situ over a minimum strike length of 4 km. Goldfield is accessible from the Route du Nord highway.
Highlights from the New Goldfield Zone:

Grab samples returned up to 26.2 g/t gold and 27.8 g/t silver in outcrop
Other sample highlights include: 6.51 g/t Au, 5.96 g/t Au, 4.31 g/t Au; 14.0 g/t Ag, 8.6 g/t Ag (see full results in Table 1)
Many geological characteristics linking Goldfield to the main mineralized zones over 36 km away
“The discovery of the Goldfield Zone this summer marks an exciting moment for Troilus,” said Justin Reid, CEO of Troilus. “Earlier this year we had the opportunity to significantly increase our land holdings through a combination of acquisition and staking. The addition of the Troilus-Frôtet Property increased our land holdings from 16,000 hectares to over 107,000 hectares. Our evolving geologic model, developed over the last couple of years through drilling and exploration around the main ore bodies of Z87, the J Zones and more recently the Southwest Zone, led us to believe that the region could have district scale potential and we believed that expanding our claim area had the potential to add significant value for shareholders via discovery. The Goldfield Zone, located on the western side of the Troilus-Frôtet Property, marks the furthest afield exploration conducted to date. We are thrilled to report newly discovered, near-surface gold occurrences with samples ranging up to 26.2 g/t gold and 27.8 g/t silver, 36 km from the main mineralized zones at the Troilus property. The Goldfield Zone results, combined with the recent Beyan Zone results, suggest that gold mineralization within the Frôtet-Evans Greenstone Belt is prolific and not constrained geographically as historically thought. We await further results from locations across the Troilus-Frotêt Property collected during the summer and believe that these showings could just be the beginning of what the district could host.”

During this initial bedrock mapping and boulder tracing, the Troilus Geological team located several mineralized boulders on the main Tortigny block assaying up to 26 g/t Au with the best results highlighted in the Table 1 below. The Tortigny deposit (see Figure 2), now 100% owned by Troilus, was discovered by Noranda in 1994 with an initial mineral resource estimate prepared in 1997. The latest NI 43-101 compliant mineral resource completed by Beaufield Resources in 2014, estimates measured and indicated resources of 1.1 million tonnes grading 1.8% Cu, 3.65% Zn, 48.51 g/t Ag and 0.35 g/t Au and inferred mineral resources of 99,000 tonnes grading 1.19% Cu, 1.23% Zn, 12.45 g/t Ag and <0.1 g/t Au. The Tortigny mineral resource includes 135 drill holes (34,581 metres) and covers a distance of approximately 600 metres. (The Technical Report for the Tortigny deposit titled: “TECHNICAL REPORT FOR THE TORTIGNY POLYMETALLIC PROJECT SOUTHERN JAMES BAY MUNICIPALITY QUEBEC, CANADA” and effective June 2, 2014, was completed by Micon International Limited and can be found on Beaufield Resources SEDAR profile at www.sedar.com). A qualified person has not done sufficient work to classify the historical estimates as a current mineral resource estimate. Troilus is not treating the historical estimates as current estimates and the historical estimates should not be relied upon as current mineral resource estimates. Further drilling would be required to verify the historical estimate.

Several of these boulders are large (up to 3m in length) and sub-angular, indicating a possible nearby source. These blocks were collected over a distance of 4 km from north to south. There is denser vegetation in this area so outcrops are not as exposed. Nevertheless, one nearby outcrop, located 200m north of the Goldfield Zone ran 1.8 g/t Au, suggesting further exploration is warranted beyond the current boundaries of this new zone. Mafic intrusive and felsic volcanic rocks are the main lithologies hosting these gold and silver gold showings. These units are strongly deformed and altered.

Results for approximately 85 samples are still pending from a total 440 samples that were collected in the vicinity of the Goldfield showing. The Troilus Geological team shipped over 1000 soil samples (B-Horizon) to the lab and results for these are also pending.

Troilus remains underexplored and highly prospective. Extensive field exploration work undertaken this summer across the +107,000 hectare Troilus property is currently being compiled to identify new prospective targets. Further assays of samples collected in the field are pending and will be updated in due course.

[stu31] 03/9/2020 18:35

Troilus’ Preliminary Economic Assessment Delivers an After-Tax NPV5% of US$1,156 Million With a 38.3% IRR at a Spot Price o...
31/08/2020 9:00pm

Troilus Gold Corp. (TSX: TLG; OTCQB: CHXMF) (“Troilus̶1; or the “Company”;) is pleased to announce the positive results of a Preliminary Economic Assessment (“PEA”) completed on its 100%-owned Troilus Gold Project (the “Project”;) located in Quebec, Canada. The PEA supports a combined open pit/underground mining scenario with low initial capital costs and high rate of return for a 35,000 tonne per day (“tpd”) operation over a 22-year mine life.
Highlights include (all results are reported in U.S. Dollars*):

After-tax IRR of 22.9% and NPV5% of $576 million based on $1,475/oz gold increasing to 32.2% and $915 million at $1,750/oz gold and 38.3% and $1,156 million at $1,950/oz spot gold prices (see Table 1)

Projected gold production of 220,000 oz average per year for the first 5 years and 246,000 oz average per year for the first 14 years

Open pit mine life of 14 years and total mine life of 22 years with future underground development

Initial capital of (“CAPEX”) of $333 million, including all mine pre-production costs, net of existing infrastructure (access road, power line, tailings facility, substation, camp, water treatment plant)

After-tax payback of 4.0 years at base case $1,475/oz gold

Average cash operating costs of $919/oz gold and all-in sustaining costs of $1,051/oz gold

Cumulative cashflow of $1.27 billion after tax and $2.04 billion pre-tax over 22 years on base case assumptions

Payable Gold of 3.8 million ounces, payable Copper of 265 million lbs and payable Silver of 1.5 million ounces

Average strip ratio for the open pit life of the mine estimated at 3.9:1
*Assuming a US$:C$ exchange of $0.74. All figures reported in US$ unless stated otherwise

Justin Reid, CEO of Troilus Gold, commented “The entire Troilus team is pleased to present the results of our PEA, clearly demonstrating the potential for our project to become a major contributor as a large North American gold producer. The PEA supports: a project with production spanning 22 years, robust potential economics at discounted and current gold prices, low CAPEX, low capital intensity, and a rapid payback. The first 14 years will target production in excess of 246,000 ounces gold per year peaking at in excess of 300,000 ounces in Year 5. The Troilus Geological team has demonstrated the ability to identify an abundance of untested targets and has a track record of adding significant ounces over a very short period of time. We believe the Troilus property has the potential to extend the mine life beyond the projected 22 years presented in the PEA and provide the opportunity to expand the scale in the future by continuing to seek increases to the mineral resource estimate with ongoing exploration and drilling. Our goal is to make this a cornerstone mining Project within both the Quebec and Canadian Gold landscapes.”

“We believe the Project provides a strong foundation for building and growing the company in a mining friendly jurisdiction. With a strong treasury to support next steps, we will now be commencing pre-feasibility work and working towards finalization of an Environmental Impact Study for the Project while continuing to explore the geological potential of the 107,000-hectare Troilus property. We look forward to working with our partners in the Eeyou Istchee James Bay region including the Cree Nation of Mistissini, the Cree Nation Government, the local communities of Chibougamau and Chapais, and with the support of the Quebec and federal governments, to advance the Troilus Project.”

[stu31] 29/8/2020 16:53

Troilus Receives Environmental Approval to Commence Dewatering of Z87 and J4 Pits
19/08/2020 12:00pm

Troilus Gold Corp. (TSX: TLG; OTCQB: CHXMF) (“Troilus̶1; or the “Company”;) is pleased to announce that it has received a Certificate of Authorization from the Ministère de l’Environnement et de la Lutte contre les changements climatiques (“MELCC”) under Section 115.8 of the Environment Quality Act (Chapter Q02) to proceed with the dewatering of the Z87 and J4 pits (together, the “Pits”).
To obtain approval for the dewatering of the Pits, Troilus submitted an Environmental Impact Assessment (“EIA”) on November 19, 2019, which was subject to a thorough review by MELCC. Troilus also engaged in community consultations with impacted families on the Troilus property and the local communities of Mistissini and Chibougamau to keep them informed of the dewatering proposal and integrate the feedback of stakeholders.

The former Troilus mine operated from 1996 to 2010, producing more than 2 million ounces of gold and 70,000 tons of copper. After operations ceased in 2010, the Z87 and J4 pits gradually filled up with water from rain and snow melt. Over the last two and half years, Troilus has completed over 80,000 metres of drilling, the majority of which has occurred around the existing Pits. An estimated mineral resource estimate of 4.96 Moz AuEq (177 Mt with an average grade of 0.87 g/t AuEq) and the total estimated inferred mineral resource has increased to 3.15 Moz AuEq (116.7 Mt with an average grade of 0.84 g/t AuEq) (see press release dated July 28, 2020). Dewatering of the pits will assist with additional exploration efforts.

Justin Reid, CEO and Director of Troilus commented, “Obtaining the Certificate of Authorization from MELCC to dewater the J4 and Z87 Pits is an important milestone for the Company. Our environmental team carefully studied the physical surroundings and engaged with the local community to develop a dewatering plan that will leave minimal impact on the surrounding environment and once complete, allow our technical team to safely engage in further drilling in the area. We appreciate the consideration and feedback from MELCC in evaluating our EIA and granting the authorization to move forward with dewatering.”

Infrastructure to support the dewatering, such as a water treatment and pumping facility have been installed at site (see Figure 1). For a copy of the EIA (full copy in French, summary in English), please visit our website at www.troilusgold.com

As reported August 5, 2020, Troilus was the first company to obtain the UL 2723: ECOLOGO Certification Program for Mineral Exploration Companies, a standard launched by the Quebec Mineral Exploration Association (“QMEA”) in November 2019 to recognize and promote environmental, social and economic best practices: the first certification of its kind for mineral exploration companies. Troilus is committed to ensuring responsible environmental stewardship.

Figure 1: Water treatment and pumping facility at J4 pit
hxxps://www.globenewswire.com/NewsRoom/AttachmentNg/70e3f400-9520-47eb-8862-ebe036cb9cf2

Qualified Person

The technical and scientific information in this press release has been reviewed and approved by Bertrand Brassard, M.Sc., P.Geo., Senior Project Geologist, who is a Qualified Person as defined by NI 43-101. Mr. Brassard has verified the technical data contained in this press release using industry accepted standards. Mr. Brassard is an employee of Troilus and is not independent of the Company under NI 43-101.

About Troilus Gold Corp.

Troilus is a Toronto-based, Quebec focused, advanced stage exploration and early-development company focused on the mineral expansion and potential mine re-start of the former gold and copper Troilus mine. The 107,326 hectare Troilus property is located within the Frotêt-Evans Greenstone Belt in Quebec, Canada. From 1996 to 2010, Inmet Mining Corporation operated the Troilus project as an open pit mine, producing more than 2,000,000 ounces of gold and nearly 70,000 tonnes of copper.

[stu31] 08/8/2020 17:14

Troilus Reports New Mineral Resource Estimate of 4.96 Million Indicated AuEq Ounces and 3.15 Million Inferred AuEq Ounces


July 28, 2020, Toronto, Ontario – Troilus Gold Corp. (TSX: TLG; OTCQB: CHXMF) (“Troilus̶1; or the “Company”;) is pleased to provide an updated mineral resource estimate from its 100% owned Troilus property located 170 km by road northeast of Chibougamau, Quebec, Canada (the “Troilus Project”). The updated mineral resource estimate is summarized in Table 1. For full cut-off sensitivities and background information please visit the Troilus website at www.troilusgold.com.

Highlights:

The total estimated indicated mineral resource has increased to 4.96 Moz AuEq (177 Mt with an average grade of 0.87 g/t AuEq) and the total estimated inferred mineral resource has increased to 3.15 Moz AuEq (116.7 Mt with an average grade of 0.84 g/t AuEq)
The open pit estimated mineral resources have increased by 601,000 ounces AuEq to 4.21 Moz (164.2 Mt with an average grade of 0.80 g/t AuEq) in the Indicated category and 1.49 Moz ounces AuEq in the Inferred category to 2.27 Moz (101.2 Mt with an average grade of 0.70 g/t AuEq), compared to the December 20, 2019 mineral resource estimate
The newly discovered and recently drilled Southwest Zone contributed 583,000 ounces AuEq to inferred mineral resources (22.6 Mt with an average grade of 0.80 g/t AuEq)
Total estimated indicated mineral resources have increased by 142% and inferred mineral resources have increased by 350% since the mineral resource estimate (effective date of June 30, 2016) when the Troilus Project was first acquired

[stu31] 08/8/2020 17:11

276m shares in issue (1/24). 299.1m FD. Market Cap C$116m (£68m) at 42c
8% Insiders 65% Institutions 7% Sayona
Cash C$18m+15 (11/23) P35c

website:

Troilus Gold Corp. is a Canadian junior mining company focused on the systematic advancement and de-risking of the past-producing gold and copper Troilus Project towards production.

Troilus holds a land position of 435km² in the top-rated mining jurisdiction of Quebec, Canada, within the prospective Frôtet-Evans Greenstone Belt.

Since the Company launched in 2018, ongoing exploration success has demonstrated the tremendous scale potential of the gold system on the property. In October 2023, the Company delivered a mineral resource estimate of 11.21 Moz AuEq* in the Indicated category and 1.80 Moz AuEq* in the Inferred category (view complete results here). This represents an impressive 447% increase in AuEq ounces since Troilus was formed in 2018, and firmly positions the project among North America's largest undeveloped gold-copper deposits. The Company has a clear roadmap towards a production scenario with the goal of delivering long-term value to its shareholders. In early 2022, the Company initiated the Federal and Provincial permitting processes for the project, and a Feasibility Study is underway and expected to be complete in early 2024.

Led by an experienced team with a track record of successful mine development, Troilus is positioned to become a cornerstone project in North America.

[jimmy-mac] 12/11/2007 22:18

Bought a grands worth 3 or 4 years ago, as a poor guy, would be nice to know what happened and are they coming back.

[jimmy-mac] 12/11/2007 22:15

Anybody know anything about this company since they were taken of the exchange?

[nockybalboa] 08/4/2006 12:47

looks like the blokes over at www.fairshare.biz got it right again as usual, how do they do it

[Abuse team] 20/3/2006 23:42

Post removed by ADVFN

[advisor] 08/1/2005 13:35

If anyone is intrested Sir Richard Needham resigned on the 15th December 2004.

[advisor] 30/12/2004 20:31

Bus war is over! Dec 24 2004




South Wales Echo


Company repels rival over city school services

THE battle of the bus companies in Cardiff is over.

The 2 Travel Group, which took on Cardiff Bus eight months ago, has taken its buses off city roads.

And Cardiff council has been forced to find alternative bus operators to run some of its school routes next month.

In April, 2 Travel launched a half-hourly weekday service to several areas of the city, including Ely, Llanrumney and St Mellons, tying in with its school run.

When 2 Travel began operations, council-owned Cardiff Bus accused its rivals of trying to cream off passengers on the city's busiest routes.

But 2 Travel said it had not come for a war with Cardiff Bus and was offering the public a cheaper alternative, much like the difference between Lidl and Marks & Spencer.

Cardiff Bus managing director David Brown said today: "The public has confirmed what we already know - Cardiff needs high quality public transport operating, early to late, seven days a week.

"The alternative of low quality restricted services has not proved popular in the past and customers have again voted with their feet."

A spokeswoman for Cardiff council said: "We have arranged cover for all of the school routes operated by 2 Travel and buses will be at the usual stops for the start of the school term next month. We will be making permanent arrangements."

Bids by Cardiff Bluebirds and CK Coaches to end Cardiff Bus' domination of services in the capital have also been unsuccessful in the past. No-one was available to comment at 2 Travel's Swansea offices today.

[lottowinner] 30/12/2004 15:12

Wole, the bringer of bad news and luck

[wole] 30/12/2004 13:03

Lost forever! Adieu, Au revior... Listing cancelled today...


Funny, I never noticed any RNS advising the listing would be cancelled...

Condolences to all affected.

[jasperminka] 17/11/2004 13:08

TEMPORARY SUSPENSION OF TRADING ON AIM

2 TRAVEL GROUP PLC

At the request of the company trading on AIM for the under-mentioned securities
has been temporarily suspended from 15/11/2004 1:00pm pending clarification of
the company's ridiculous trading style, amateurish management and abysmal website.

[wole] 16/11/2004 16:17

Oh dear! Terrible shame...