Troilus Gold announces updated resource estimate

Troilus Gold has released an updated resource estimate for its 100% held Troilus project located 170 km to the north of Chibougamau, Quebec. The updated resource features total open pit and underground resources of 4.71 million oz. gold equivalent in the indicated category and 1.76 million oz. gold equivalent in the inferred category, an increase over the 3.92 million oz. indicated and 1.17 million oz. inferred gold equivalent reported in the 2018 resource estimate.

The current resource incorporates 36,000 metres of drilling completed in 2019 as well as 36,000 metres drilled in August 2018. The current estimate is based on a combination of open pit and underground mining at the Z87 zone with the J zone estimate (for zones J4 and J5) based on an open pit mining scenario. According to the company, the majority of the resource growth is from the pit constrained J zone.

With the release of the updated resource, total pit constrained and underground resources at the property stand at 159.1 million tonnes indicated grading 0.78 g/t gold, 0.09% copper and 1.19 g/t silver with additional inferred resources of 52.7 million tonnes at 0.9 g/t gold, 0.08% copper and 1.01 g/t silver. Indicated and inferred open pit resources at Troilus currently total 177 million tonnes.

The company expects to complete pre-feasibility and advanced engineering studies in the second half of 2020 with a goal of processing 20,000 t/d with an open pit mining scenario. The Troilus project produced approximately 2 million oz. gold and 70,000 tonnes of copper from open pit operations between 1996 and 2010.

(This article first appeared in the Canadian Mining Journal)