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Troilus Gold Reports Update on Troilus Gold Project in Quebec

Mining News - Published on Fri, 15 Nov 2019

Image Source: globenewswire
Troilus Gold Corp has provided an updated mineral resource estimate for its 100% owned Troilus property located 170 km by road north of Chibougamau, in northwestern Quebec, Canada. Mr Justin Reid CEO of Troilus said “In just two years of drill programs since acquiring the Troilus Project, we have outlined what we believe to be a promising development asset in Quebec and believe there is still room for further growth. Our investors will continue to benefit from our low discovery costs, technical expertise and support from our local communities. The careful work and scientific analysis by our technical team has resulted in a substantial increase to the Troilus estimated mineral resources which provides the foundation for ongoing exploration and development of this exciting property. "

Highlights

The pit constrained estimated mineral resources in the indicated mineral resource category have increased by 910,000 ounces AuEq, with J Zone (J4 and J5) having increased by 69%, from the 2018 mineral resource estimate (which had an effective date of November 19, 2018)

The total estimated indicated mineral resource has increased to 4.71 Moz AuEq and the total estimated inferred mineral resource has increased to 1.76Moz AuEq

Total estimated indicated mineral resources have increased by 129% since the 2017 mineral resource estimate (which had an effective date of June 30, 2016) when the Troilus Project was acquired and 20% since the 2018 mineral resource estimate

Underground tonnage decreased by 24% while underground grade in the indicated mineral resource category has improved from 1.50 g/t AuEq to 1.86 g/t AuEq from the 2018 mineral resource estimate.

Source :

Posted By : Yogender Pancholi on Fri, 15 Nov 2019
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