Troilus shows potential to rank among top gold mines in Quebec and Canada with new PEA On September 1, 2020, Troilus Gold Corp. released a preliminary economic assessment (PEA) on its 100 per centowned Troilus Gold Project, located 170 kilometres northeast of Chibougamau, Quebec. The PEA supports a combined open pit/underground mining scenario with low initial capital costs and high rate of return for a 35,000 tonne per day (tpd) operation over a 22-year mine life. The PEA assumes an open pit operation for the first 14 years with the underground
operation coming online starting in year eight. Production averages 220,000 ounces per year the first five years, 246,000 ounces per year for the first 14 years, and 98,000 ounces per year from year 15 onwards. Over 22 years, the mine is projected to produce payable gold of 3.8 million ounces of gold, payable copper of 265 million lbs., and payable silver of 1.5 million ounces. The Troilus mine previously operated under InMet Mining Corporation starting
in 1996 until 2010. The current operation benefits from extensive inherited infrastructure worth approximately US$350 million, including over 40 kilometres of access road connected to the Route du Nord, over 80 kilometres of power line, tailings facility, a 50 MW substation, camp and water treatment plant. As a result, the PEA estimates low initial CAPEX of US$333 million. All-in, sustaining cost (AISC) is US$1,051 per ounce Au. Amongst the top gold-producing assets
Table 1: Summary of Troilus Gold economic results by gold price (US$)
30 Revue minière du QuÊbec
