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| 2 Travel Group | LSE:TLG | London | Ordinary Share | GB0032498775 | ORD 0.2P |
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| 24/11/2024 | 23:32 | Troilus Gold (TSX) | 17 |
| 12/11/2007 | 22:18 | Where is this company | 1 |
| 08/4/2006 | 11:47 | TLG 2 TRAVEL UP NORTH? | 259 |
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Posted at 24/11/2024 23:32 by stu31 Troilus Receives US$300M LOI From Export Development Canada; Total Export Credit Agency Support Reaches US$1.3B21/11/2024 12:00pm Troilus Gold Corp. (“Troilus̶ The LOI from EDC complements previously announced LOI’s from the German export credit agency (“ECA”) Euler Hermes (see press release from November 13, 2024), the Finland ECA, Finnvera plc and the Swedish export credit agency, EKN (see press release from November 19, 2024). Highlights: EDC is prepared to consider debt financing support for the development and construction of the Project in an amount up to US$ 300 million. EDC is a financial Crown corporation owned by the Government of Canada and it specializes in providing financing solutions for Canadian exporters. In 2023 alone, EDC facilitated more than US$8 billion in business through its customers in the mining sector. EDC support is subject to its rigorous due diligence process, including but not limited to, economic, technical, environmental and social. The LOI builds upon previous in-principle support from other global ECA’s, including a US$500 million LOI from Euler Hermes, a US$300 million LOI from Finnvera, and a US$200 million LOI from EKN. Combined, these LOIs represent a total of US$1.3 billion in potential financing support, providing a robust foundation for a multi-faceted financing structure and further solidifying the Troilus Project's path toward becoming a significant North American copper and gold producer. Justin Reid, CEO of Troilus, commented, “The LOI from Export Development Canada, alongside those from other leading ECA’s, represents the culmination of significant effort and collaboration by our team and partners. As a Canadian company, this support from EDC reinforces the Troilus Project’s importance to Canada’s critical minerals strategy and broader resource objectives, while highlighting our nation’s leadership in advancing domestic projects with global significance. It also reflects the growing recognition of Troilus as a highly financeable copper-gold asset capable of providing reliable, long-term supplies of critical minerals to meet rising global demand. As we move into 2025, Troilus is exceptionally well-positioned with world-class partners, a solid financing framework, and exciting developments on the horizon that strengthen our confidence in advancing our asset toward construction.” Auramet International Inc. continues to assist with the structuring, identification and engagement of potential financing participants. About Troilus Gold Corp. Troilus Gold Corp. is a Canadian development-stage mining company focused on the systematic advancement of the former gold and copper Troilus Mine towards production. Troilus is located in the tier-one mining jurisdiction of Quebec, Canada, where it holds a large land position of 435 km² in the Frôtet-Evans Greenstone Belt. A Feasibility Study completed in May 2024 supports a large-scale 22-year, 50ktpd open-pit mining operation, positioning it as a cornerstone project in North America. |
Posted at 13/11/2024 18:57 by stu31 Troilus Closes $28 Million Bought Deal Offering18/10/2024 1:32pm Troilus Gold Corp. (“Troilus̶ Each Unit consists of one common share of the Company (a “Share”) and one-half of one common share purchase warrant (each whole such warrant, a “Warrant” The Offering was completed through a syndicate of underwriters, led by Haywood Securities Inc. and Desjardins Capital Markets as co-lead underwriters, and including Cormark Securities Inc., Eight Capital Corp., Red Cloud Securities Inc., and BMO Nesbitt Burns Inc. The gross proceeds from the sale of the FT Shares and QFT Shares will be used by the Company to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” as such terms are defined in the Income Tax Act (Canada). Purchasers of QFT Shares will also qualify for inclusion in the “exploration base relating to certain Québec exploration expenses” and in the “exploration base relating to certain Québec surface mining expenses or oil and gas exploration expenses” within the meaning of the Taxation Act (Québec) (collectively, the “Qualifying Expenditures”) related to the Corporation’s projects in Québec on or before December 31, 2025. All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Shares and QFT Shares effective December 31, 2024. The net proceeds from the sale of the Units will be used by the Company to fund exploration and development at the Company’s Troilus gold project, and for working capital and general corporate purposes. The Offered Securities have been offered by way of short form prospectus in each of the provinces of Canada, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions. The Units were also offered into 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, 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 securities offered in the Offering 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 news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. About Troilus Gold Corp. Troilus Gold Corp. is a Canadian development-stage mining company focused on the systematic advancement of the former gold and copper Troilus Mine towards production. Troilus is located in the tier-one mining jurisdiction of Quebec, Canada, where it holds a large land position of 435 km² in the Frôtet-Evans Greenstone Belt. A Feasibility Study completed in May 2024 supports a large-scale 22-year, 50ktpd open-pit mining operation, positioning it as a cornerstone project in North America. |
Posted at 14/5/2024 19:52 by stu31 Troilus Announces Feasibility Study Results for the Gold-Copper Troilus Project: Outlines a Large Scale, 22-Year Open Pit Project in Tier-One Jurisdiction With USD$884.5 Million NPV(5%)14/05/2024 12:00pm Troilus Gold Corp. (TSX: TLG; OTCQX: CHXMF) (“Troilus̶ Troilus has taken a focused and conservative approach to all costs and inputs to deliver a realistic and compelling Feasibility Study that we believe maximizes the scope and scale of this mineral asset over the long term. All amounts are in United States dollars, unless otherwise stated. 2024 FEASIBILITY STUDY HIGHLIGHTS Large Scale Open-Pit Project Open pit mine life of 22 years with the potential for future underground development. Life-of-mine (“LOM”) average payable gold production of 244,600 ounces annually, 17.3 million pounds of copper and 446,700 ounces of silver annually. Peak annual payable gold production of 456,100 ounces, 31.8 million pounds of copper and 613,600 ounces of silver in year 7. Open pit mine, processing 50,000 tonnes-per-day (“tpd”); a 43% larger scale operation than the 35,000 tpd processing rate contemplated in the Preliminary Economic Assessment (“PEA”) from 2020. An economical and energy-efficient process to produce a desirable gold-rich copper concentrate for sale to smelters, with a cyanide-free gravity concentration circuit to produce doré after Year 1. Supported by an initial Mineral Reserve estimate of 380Mt grading 0.59 g/t gold equivalent (“AuEq”) (0.49 g/t Au, 0.058% Cu and 1.0 g/t Ag) for a contained 7.26Moz AuEq (6.02 Moz Au, 484 Mlbs Cu and 12.2 Moz Ag).1 LOM total payable gold of 5.4 million ounces, 382 million lbs of copper and 9.9 million ounces of silver. Average LOM strip ratio of 3.1:1. Low-Cost Production2 All-in sustaining cash operating costs (“AISC”) of $1,109/oz. Average operating costs of $19.06/t milled ore. Strong Economic Results Base Case after-tax NPV5% of USD$884.5 million and IRR of 14%, reflecting long-term forecast prices of US$1,975/oz Au, $4.05/lb Cu, $23/oz Ag and $0.74 USD/CAD exchange rate. After-tax NPV5% of USD$1.55 billion and IRR of 19.5% at April 2024 average metal prices (Au: $2,332/oz; Cu: $4.30/lb; Ag: $27.50/oz). Cumulative after-tax cashflow of $2.2 billion on base case assumptions; increasing to $3.4 billion using average metal prices for April 2024. Attractive Capital Intensity Given Inflationary Environment and Scale of Operation Initial development capital of (“CAPEX” Existing and upgraded infrastructure, including powerlines and 50MW substation, all-weather access roads and tailings facility among other infrastructure, reduce capital requirements for the project and overall capital intensity. Exploration Upside: Numerous targets ranging from grass roots geochemical anomalies to early-stage drill targets are actively being explored and advanced, both near mine and regionally, representing significant future upside potential. ____________________ 1 AuEq was calculated using metal prices of $1,550/oz Au; $3.50/lb Cu and $20.00/oz Ag. 2 See Non-IFRS Measures at the end of this news release. Justin Reid, CEO of Troilus, commented, “The entire Troilus team is proud to present results that clearly demonstrate the potential for our project to become a major North American copper and gold producer. The FS outlines a generational-scale asset, with a 22-year mine life and compelling economics, both at discounted and current metal prices. The project has reasonable CAPEX and capital intensity, including bottom quartile operating costs among the major Canadian gold mines. With a life-of-mine average payable gold production of nearly 245,000 ounces annually, more than 17 million pounds of copper and nearly 447,000 ounces of silver, Troilus stands not only as a strategically significant project that aligns with the Province of Quebec’s priority on the production of strategic metals but is also positioned to be amongst the largest scale, lowest cost gold and copper projects across Canada. In today’s challenging market, the value of our existing infrastructure has become even more critical, reducing the capital intensity required to build project infrastructure and providing ongoing access to low-cost renewable energy supplied by Hydro-Quebec. The Troilus Project has been designed to minimize the environmental footprint of the future operation including using a cyanide free process, engaging in progressive reclamation, making use of the existing tailings facility and minimizing GHG emissions through reliance on sustainable energy sources. The Study provides a strong foundation to continue building and growing the Company. Our geology team has proven their ability to identify new targets and rapidly add significant ounces, and we believe there is strong potential to further expand the scale of this project and extend the mine life beyond the 22 years presented in this Study with further exploration and drilling. With the FS now complete, Troilus is focused on next steps, namely the finalization of the Environmental & Social Impact Assessment and ongoing exploration of the geological potential of the 435 km² 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 and Grand Council of the Crees, the local communities of Chibougamau and Chapais, as well as the governments of the Province of Quebec and Canada, to advance the Troilus Project.” Exploration Upside The Troilus Project is held within a large exploration land package totaling 435 km² within the prospective Frôtet-Evans Greenstone Belt. Numerous targets ranging from grass roots geochemical anomalies to early-stage drill targets are actively being explored and advanced by the Company, both near mine and regionally. In late 2022, the ‘X22 Zone’ was discovered along an oblique structural trend immediately adjacent to the previously mined Z87 pit, and now hosts 1.19M ounces AuEq Indicated mineral resources, highlighting the prospectivity and continued opportunity for discovery at both the mine site and within the belt. X22 remains open, particularly at depth, and has previously not been drill tested below 250 metres from surface. A 25,000m drill program is underway, largely focused across the ‘Gap Zone’ between Z87 and the SW zones, and at depth at the X22 Zone. Using multiple layers of geoscientific data and the latest understanding of the deposit genetics, a spectrum of targets were developed that range from strategic resource expansion to those more conceptual in nature. Next Steps The Company will be focused on the following activities over the next 24 months: Completion and submission of the Environmental and Social Impact Assessment (“ESIA”) by the end of 2024. Progressing the Federal and Provincial permitting processes, which were initiated in May 2022, and obtaining all final permits to commence construction. Initiate detailed engineering in preparation for construction. Project Financing: The Company has engaged Auramet International, Inc (“Auramet̶ Ongoing exploration both near the mine and regionally. Feasibility Study Review Webinar Troilus will be hosting a webinar to discuss the results of the Troilus Project Feasibility Study. CEO, Justin Reid, Senior Vice-President of Technical Services, Ian Pritchard, and other members of the Troilus leadership team will be on the call. Participants will be able to submit questions or email them in advance to info@troilusgold.com Date: May 14, 2024 Time: 4:00 pm ET /1:00 pm PT To join the webinar, please register here: hxxps://event.webina Feasibility Study Consultants The Troilus Project Feasibility Study is being prepared and compiled by AGP Mining Consultants Inc. (“AGP”) and supported by independent consulting firms, Lycopodium Limited (“Lycopodium&# Qualified Persons The FS is prepared by independent representatives of AGP, Lycopodium and WSP, each of whom are Qualified Person as defined by NI 43-101 Standards of Disclosure for Mineral. Each of the QPs are independent of Troilus Gold Corp. and have reviewed and confirmed that this news release fairly and accurately reflects, in the form and context in which it appears, the information contained in the respective sections of the Troilus FS for which they are responsible. The affiliation and areas of responsibility for each QP involved in preparing the Troilus FS are provided below. AGP QPs Paul Daigle, P.Geo. - Mineral Resources estimate. Willie Hamilton, P.Eng. - Mineral Reserves, Mine design and scheduling. Gordon Zurowski, P.Eng - Mine Costing and financial analysis. Lycopodium QP Ryda Peung, P.Eng. - Metallurgical review, process design and operating cost estimate. Balvinder Singh, P. Eng. - Process plant and associated infrastructure cost estimates. Zuned Shaikh, P. Eng.- Design and material take off for the process plant related infrastructure. WSP QPs Vlad Rojanschi, P.Eng. - Design and material takeoff for the surface water management infrastructure (not including electromechanical treatment or pumping equipment), hydrogeology, and mine site water balance prediction. Laurent Gareau, P.Eng. - Geotechnical design and material takeoff for the Tailings Storage Facility. Pierre Primeau, P.Eng. - Design and costs for TSF water treatment for suspended solids removal, and selected surface water conveyance pipelines and pumping. Marc Rougier, P.Eng. - Mine geotechnical aspects of open pits slopes design. Non-IFRS Financial Measures The Company has included certain non-IFRS financial measures or ratios in this news release, such as Initial Capital Cost, All-In Sustaining Cost, Sustaining Capital and Capital Intensity, which are not measures recognized under IFRS and do not have a standardized meaning prescribed by IFRS. As a result, these measures may not be comparable to similar measures reported by other corporations. Each of these measures used are intended to provide additional information to the user and should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS. Non-IFRS financial measures used in this news release and common to the gold mining industry are defined below. As construction and operation of the Project are at the study stage, the Company does not have historical non-IFRS financial measures nor historical comparable measures under IFRS, and therefore the foregoing prospective non-IFRS financial measures or ratios may not be reconciled to the nearest comparable measures under IFRS. All-in Sustaining Costs (“AISC”) and AISC per Ounce AISC is reflective of all of the expenditures that are required to produce an ounce of gold from operations. AISC reported in the FS includes total cash costs, sustaining capital, expansion capital and closure costs, but excludes corporate general and administrative costs and salvage. AISC per Ounce is calculated as AISC divided by payable gold ounces and copper/silver credits. About Troilus Gold Corp. Troilus Gold Corp. is a Canadian development-stage mining company focused on the systematic advancement of the former gold and copper Troilus Mine towards production. Troilus is located in the tier-one mining jurisdiction of Quebec, Canada, where is holds a large land position of 435 km² in the Frôtet-Evans Greenstone Belt. A Feasibility Study completed in May 2024 supports a large-scale 22-year, 50ktpd open-pit mining operation, positioning it as a cornerstone project in North America. |
Posted at 02/4/2024 19:22 by stu31 Troilus Provides Operational Update28/03/2024 11:00am Troilus Gold Corp. (TSX: TLG; OTCQX: CHXMF; FRA: CM5R) (“Troilus̶ 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. |
Posted at 22/1/2024 20:42 by stu31 TROILUS PROVIDES A RECAP OF 2023 ACCOMPLISHMENTS & AN OUTLOOK FOR 2024January 9, 2024, Montreal, Quebec – Troilus Gold Corp. (TSX: TLG; OTCQX: CHXMF; FRA: CM5R)(“Troilus 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. |
Posted at 25/2/2021 18:36 by stu31 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) (“Troilus̶ 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. |
Posted at 25/2/2021 18:29 by stu31 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) (“Troilus̶ 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). |
Posted at 03/12/2020 01:38 by stu31 Troilus Completes C$22.1M Bought Deal Financings01/12/2020 1:52pm Troilus Gold Corp. (TSX: TLG) (OTCQB: CHXMF) (“Troilus̶ 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. |
Posted at 09/11/2020 22:45 by stu31 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. |
Posted at 03/9/2020 17:35 by stu31 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) (“Troilus̶ 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” 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.” |
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