TradingCharts
1 year ago
TROILUS DRILLS 1.46 G/T AUEQ OVER 30M, INCL. 2.62 G/T AUEQ OVER 11M, AND 1.36 G/T AUEQ
OVER 18M IN ZONE X22
March 30, 2023, Montreal, Quebec – Troilus Gold Corp. (“Troilus” or the “Company”, TSX: TLG; OTCQX:
CHXMF; FSE: CM5R) is pleased to report assay results from Zone X22 (“X22”) at its Troilus Project, located
in northcentral Quebec, Canada. The results herein are part of an ongoing 7,800 metre drill campaign
designed to define and expand mineralization of Zone X22, initially identified in late 2022 (see October
17, 2022, press release). Since its discovery, the strike length of this zone has expanded to 1 kilometre,
originating at the western border of the formerly mined Z87 pit and extending southwest into the Gap
Zone (see Figure 1). The X22 delineation program is nearing completion, however over 4,000 metres of
assays are pending and will be reported as they become available.
The latest results have confirmed mineral continuity between previously drilled and reported holes in this
zone, which continue to return higher than average grades over large thicknesses. All results reported
herein lie entirely outside of the PEA pit shells and will be included in the upcoming Feasibility Study.
Zone X22 Drill Intercept Highlights:
Hole X22-23-021
• Intersected 1.36 g/t AuEq over 18m and 3.62 g/t AuEq over 3 metres within a broader intersection
of 0.94 g/t AuEq over 32m, extending down-dip mineralization by 50 metres beyond previously
reported hole X22-23-024, which intersected 1.49 g/t AuEq over 34.5m (see Figure 2).
Hole X22-23-023
• Confirmed 100 metres of up-dip mineralization with at-surface intersections of 2.07 g/t AuEq over 4
metres, including 6.10 g/t AuEq over 1 metre (31- 35m downhole), demonstrating mineral continuity
from previously reported hole 87-22-446 which intersected 1.79 g/t AuEq over 8 metres, incl. 7.57
g/t over 1 metre and 4.31 g/t over 1 metre (See Figure 3).
• Intersected 2.62 g/t AuEq over 11 metres within a broader intersection of 1.46 g/t AuEq over 30m,
from 151 to 181 metres downhole, confirming an additional mineral extension by 100 metres up-dip
beyond previously reported hole 87-22-446, which intersected 1.52 g/t AuEq over 12m, incl. 10.51
g/t AuEq over 1m (see Figure 3).
Justin Reid, CEO of Troilus Gold, commented, “Drilling at X22 only began in late 2022, and results to date
have consistently attested to this shallow zone’s strong potential to positively impact the grade profile of
Troilusin early years of the mine life. Today’sresults have bridged existing gaps between previously drilled
intercepts and provide an increased level of confidence in the continuity of mineralization at higher grades
across X22. We look forward to releasing the remaining results of incoming assays in the coming weeks
and believe they will build on today’s positive results.”
https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00005620
TradingCharts
1 year ago
January 26, 2023, Montreal, Quebec – Troilus Gold Corp. (“Troilus” or the “Company”) (TSX: TLG; OTCQX:
CHXMF; FRA: CM5R) reports positive assay resultsfrom the Connector Zone, a target located between the
two previously mined Z87 and J4 open pits, at its gold-copper Troilus Project in northcentral, Quebec,
Canada. The results herein are part of an ongoing 5,000-metre drill program designed to target and
expand on shallow high-grade mineralization intersected in thiszone late last year(see November 8, 2022,
press release).
The latest results further demonstrate high-grade mineral continuity extending on a north, north-west
trend between the two formerly mined pits (see Figures 1 and 2). Highlights are reported below, with
results presented in Table 1.
Connector Zone Intercept Highlights:
Hole 87-449
? 2.07 g/t AuEq over 11.2m, including 4.07 g/t AuEq over 5m
This interval is located directly at surface; the hole collared into bedrock within this high-grade
mineralized zone.
? 1.22 g/t AuEq over 10.0m, including 1.49 g/t AuEq over 6.2m
? 1.31 g/t AuEq over 6m
Hole 87-451
? 4.33 g/t AuEq over 29m, including 6.37 g/t AuEq over 18m
? 5.5 g/t AuEq over 6m
? 1.01 g/t AuEq over 49m, including 1.99 g/t AuEq over 10m
Justin Reid, CEO of Troilus Gold, commented, “The latest drill results from this new and exciting target
further demonstrate the continuity of mineralized high-grade structures between the two formerly mined
open pits. Detailed structural work completed by the geology team has greatly contributed to the
understanding and successful targeting of these high-grade trends. These shallow high-grade zones exist
within and in close proximity to the PEA pit shells and we believe they could be brought into the mine
plan to positively impact the strip ratio and project economics. In the coming months our team will
continue to focus on maximizing opportunities for discovery and delineation of high-grade near surface
targets for inclusion in our upcoming Feasibility Study, expected in the second half of 2023.
https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00005620
TradingCharts
1 year ago
MONTREAL, Dec. 12, 2022 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (TSX: TLG; OTCQX: CHXMF) (“Troilus” or the “Company”), reports that it has published its 2021 Sustainability Report (“the Report”), highlighting Environmental, Social and Governance (“ESG”) initiatives, activities, and achievements over the 2021 calendar year. The report details Troilus’ commitment to operating every facet of the company in a transparent and sustainable manner, pursuing superior corporate governance, and positively impacting our communities and the environment, while generating long-term value for its stakeholders and shareholders. Highlights are presented below, while the complete report can be found on the Company’s website at www.troilusgold.com in the Sustainability section.
Highlights of the 2021 Sustainability Report include:
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2478-tsx/tlg/132705-troilus-presents-its-2021-sustainability-report.html
TradingCharts
1 year ago
Troilus Gold Corp.
2,610 followers
2h • Edited • 2 hours ago
$TLG CEO, Justin Reid, catches up with Shad Marquitz from #KEReport to discuss Troilus’ upside for investors, including a robust resource with the potential to grow, a strong balance sheet and financial flexibility to advance the Troilus gold/copper project.
Listen to the interview here: http://bit.ly/3GTTxD0
---
Le PDG de $TLG, Justin Reid, a rejoint Shad Marquitz de #KEReport pour discuter du potentiel de hausse de Troilus pour les investisseurs, y compris une ressource solide avec un potentiel de croissance, un bilan solide et une flexibilité financière pour avancer le projet d'or/cuivre Troilus.
Écoutez l’entrevue ici : http://bit.ly/3Ujjf6F
#TSX : $TLG | #OTCQX : $CHXMF | FRA : $CM5R
#Troilus #gold #copper #exploration #goldmining #juniormining #mining
https://www.linkedin.com/feed/update/urn%3Ali%3Aactivity%3A7003120374313869312/?origin=SHARED%5FBY%5FYOUR%5FPAGES
TradingCharts
1 year ago
Advancing Quebec's Next Gold Producer - A New Life for a Former Gold and Copper Operatio 190 views Mar 13, 2019
2,037 views Mar 13, 2019
Advancing Quebec's Next Gold Producer - A New Life for a Former Gold and Copper Operation
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 16,000-hectare Troilus property is located Northeast of the Val-d’Or district, within the Frotêt-Evans Greenstone Belt in Quebec, Canada. From 1997 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.
Troilus Gold Corp. is listed on the Toronto Stock Exchange, under the ticker TLG, and on the OTCQB Venture Market, under the ticker CHXMF.
For more information, please visit our website at https://www.troilusgold.com/
conix
4 years ago
TROILUS FILES POSITIVE PRELIMINARY ECONOMIC ASSESSMENT
TECHNICAL REPORT FOR THE TROILUS GOLD PROJECT
October 15, 2020, Toronto, Ontario – Troilus Gold Corp. (TSX: TLG) (OTCQB: CHXMF) (“Troilus” or the “Company”) reports that it has filed the technical report supporting the Preliminary Economic Assessment (“PEA”) for the Company’s 100%-owned Troilus Gold Project, located within the Frôtet-Evans Greenstone Belt of northern Quebec (the “Technical Report”). The Technical Report, titled “Preliminary Economic Assessment of the Troilus Gold Project, Quebec, Canada” dated October 14, 2020 (the mineral resource has an effective date of July 20, 2020 and the PEA has an effective date of August 31, 2020) was prepared by Gordon Zurowski, P. Eng. Principal Mining Engineer, AGP Mining Consultants Inc. (“AGP”), Paul Daigle, P. Geo, Senior Associate Geologist, AGP and Mr. Andy Holloway, P. Eng. Principal Processing Engineer, AGP.
The positive PEA, announced August 31, 2020, demonstrates the potential for Troilus to rank among the top gold producing assets in Canada.
Troilus Gold Project PEA Highlights (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
Projected average annual gold production of 220,000 oz for the first 5 years and 246,000 oz 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
The Technical Report can be found on the Company’s website at www.troilusgold.com and under the Company’s profile on SEDAR at www.sedar.com.
Qualified Person
Mr. Gordon Zurowski, P. Eng. Principal Mining Engineer, AGP Consultants, who is an independent Qualified Person as defined under NI 43-101, has reviewed and approved the technical information pertaining to the PEA disclosed in this press release.
Non-IFRS Financial Measures
The Company has included certain non-IFRS financial measures in this news release, such as Initial Capital Cost, Cash Operating Costs ,Total Cash Cost, All-In Sustaining Cost, Expansion 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.
Total Cash Costs and Total Cash Costs per Ounce
Total Cash Costs are reflective of the cost of production. Total Cash Costs reported in the PEA include mining costs, processing & water treatment costs, general and administrative costs of the mine, off-site costs, refining costs, transportation costs and royalties. Total Cash Costs per Ounce is calculated as Total Cash Costs divided by payable gold ounces.
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 PEAS 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.
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
conix
4 years ago
TROILUS CLOSES PRIVATE PLACEMENT OF FLOW-THROUGH SHARES AND COMMON SHARES FOR TOTAL PROCEEDS OF C$12,832,683
Not for distribution to United States newswire services or for dissemination in the United States
February 28, 2020, Toronto, Ontario – Troilus Gold Corp. (TSX: TLG; OTCQB: CHXMF) (“Troilus” or the “Company”) is pleased to announce that it has closed its previously announced non-brokered private placement of an aggregate of 6,449,188 common shares of the Company that will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”) (collectively, the “Flow-Through Shares“).
The Flow-Through Shares were issued in three tranches as follows:
Tranche 1: 2,000,000 Flow-Through Shares issued to investors resident in the Province of Québec at an issue price of C$1.00 per Flow-Through Share for aggregate gross proceeds of C$2,000,000 (the “T1 Offering”);
Tranche 2: 2,070,617 Flow-Through Shares issued to investors resident in the Province of Québec at an issue price of C$0.81 per Flow-Through Share for aggregate gross proceeds of C$1,677,200 (the “T2 Offering”); and
Tranche 3: 2,378,571 Flow-Through Shares issued to investors resident outside of the Province of Québec at an issue price of C$0.77 per Flow-Through Share for aggregate gross proceeds of C$1,831,500 (the “T3 Offering” and, collectively with the T1 Offering and the T2 Offering, the “Flow-Through Offering”).
The Flow-Through Shares issued in connection with the T1 Offering and the T2 Offering also qualify as “flow-through shares” within the meaning of section 359.1 of the Taxation Act (Québec).
The Company is also pleased to announce that it has closed its previously announced non-brokered private placement of an aggregate of 11,267,667 common shares of the Company (the “Offered Shares”) which were issued at a price of C$0.65 per Offered Share for aggregate gross proceeds of C$7,323,983 (the “Common Share Offering”).
The aggregate gross proceeds raised pursuant to the Flow-Through Offering and the Common Share Offering (collectively, the “Offering”) total C$12,832,683.
The gross proceeds from the issue and sale of the Flow-Through Shares will be used by the Company to incur eligible “Canadian exploration expenses”, within the meaning of the Tax Act, that will qualify as “flow-through mining expenditures” as defined in the Tax Act (the “Qualifying Expenditures”) related to the Company's Troilus gold project located within the Frotêt-Evans Greenstone Belt in Québec, on or before December 31, 2021. The Company will renounce the Qualifying Expenditures to the subscribers of the Flow-Through Shares with an effective date of no later than December 31, 2020.
The Company intends to use the net proceeds of the Common Share Offering to continue exploration and definition drilling at its Troilus gold project, and for general corporate purposes.
The Offering remains subject to final approval of the Toronto Stock Exchange (“TSX”). The Flow-Through Shares and Offered Shares issued under the Offering are subject to a hold period in Canada expiring four months and one day from the closing date of the Offering.
In connection with the Offering, the Company has paid financial advisory fees to Cormark Securities Inc., Stifel GMP, Canaccord Genuity Corp., Haywood Securities Inc., Laurentian Bank Securities Inc. and Red Cloud Securities Inc.. In addition, in connection with the Offering, the Company has paid finder’s fees in respect of certain subscriptions to Tamesis Partners LLP and other finders.
The securities offered have not been, nor will they be, registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. 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 State 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 16,000-hectare Troilus property is located northeast of Chibougamau 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.
Golden Cross
5 years ago
News out -- Troilus Announces Intention to Complete up to C$6,000,000 Non-Brokered Private Placement of Flow-Through Shares
Press Release | 09/26/2019
Not for distribution to United States newswire services or for dissemination in the United States
TORONTO, Sept. 26, 2019 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (TSX: TLG; OTCQB: CHXMF) (“Troilus” or the “Company”) is pleased to announce that it has entered into subscription agreements with funds managed by each of Sprott Asset Management LP (“Sprott”), Goodman & Company, Investment Counsel Inc (“Goodman & Company”) and Middlefield Group (“Middlefield”) in connection with a non-brokered private placement financing (the “Offering”) of an aggregate of up to 6,813,900 common shares of the Company that will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”) and, in relation to FT Tranche Two (as defined herein), also qualify as “flow-through shares” within the meaning of section 359.1 of the Taxation Act (Québec)) (collectively, the “Flow-Through Shares”). The funds managed by each of Sprott, Goodman & Company and Middlefield will be participating in FT Tranche One (as defined herein).
The Flow-Through Shares will be issued in two tranches:
Tranche 1 will consist of an aggregate of 5,813,900 Flow-Through Shares to be issued to funds managed by each of Sprott, Goodman & Company and Middlefield (each resident outside of the Province of Québec) at a price of C$0.86 per share for aggregate gross proceeds of approximately C$5 million (“FT Tranche One”); and
Tranche 2 will consist of an aggregate of up to 1,000,000 Flow-Through Shares to be issued to investors resident in the Province of Québec at a price of C$1.00 per share for aggregate gross proceeds of up to C$1 million (“FT Tranche Two”).
The gross proceeds from the issue and sale of the Flow-Through Shares will be used by the Company to incur eligible “Canadian exploration expenses”, within the meaning of the Tax Act, that will qualify as “flow-through mining expenditures” as defined in subsection 127(9) of the Tax Act (the “Qualifying Expenditures”) related to the Company's Troilus gold and copper project located within the Frotêt-Evans Greenstone Belt in Québec, after the closing date of the Offering and prior to December 31, 2020. The Company will renounce the Qualifying Expenditures so incurred to the purchasers of the Flow-Through Shares with an effective date of no later than December 31, 2019.
The Offering is expected to close on or about October 7, 2019 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange. The Flow-Through Shares to be issued under the Offering will be subject to a hold period in Canada expiring four months and one day from the closing date of the Offering.
In connection with the Offering, GMP Securities L.P., Cormark Securities Inc., Canaccord Genuity Corp., and Haywood Securities Inc. have acted as financial advisors to the Company for which an aggregate cash fee equal to 1.5% of the gross proceeds of the Offering will be paid by the Company.
The securities offered have not been, nor will they be, registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. 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 State 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 16,000-hectare Troilus property is located northeast of the Val-d’Or district, 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.
For more information:
Spyros Karellas
Director, Global Communications
+1 (416) 433-5696
spyros.karellas@troilusgold.com
crossbow
13 years ago
PITCHBLACK is up to something, they just don't want to tell anyone. I couldn't find any mention of the PR below on this site, so I posted it. I could be wrong. It wouldn't be the first time:
Announced 11/1/10
2.00M for Pitchblack Resources Ltd.
Private Placement
Pitchblack Resources Ltd. (TSXV: PIT) announced a non-brokered private placement of 12,121,212 units at CAD 0.165 per unit for gross proceeds of CAD 2,000,000 on November 1, 2010. Each unit consisted of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one common share at CAD 0.22 until October 29, 2012. The company issued certain finders a total of 629,472 finders' warrants to acquire 629,472 units of the company in ... connection with the financing. The securities issued are subject to a hold period that expires on March 1, 2011.
Collapse Detail
PIT's price was unchanged after the transaction was announced on 11/1/10.
Register for real-time alerts, custom portfolio, and market movers
Alexulf
2 years ago
Renee
6 years ago
Pro-Life
13 years ago
Hot Features
Premium
