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 NPV5%
May 14, 2024, Montreal, Quebec – Troilus Gold Corp. (TSX: TLG; OTCQX: CHXMF) (“Troilus” or the “Company”) reports results from a Feasibility Study (“FS” or the “Study”) completed on the gold-copper Troilus Project (the “Project”) located in northcentral Quebec, Canada. The Study incorporates an initial mineral reserve estimate (“MRE”) that supports a long life, large scale, 50,000 tonnes per day (“tpd”) open-pit mining operation; a project in a tier-one mining jurisdiction that stands out in the Quebec and Canadian mining landscapes.
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.
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