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Troilus Gold Corp T.TLG

Alternate Symbol(s):  CHXMF

Troilus Gold Corp. is a Canadian mining company focused on the systematic advancement and de-risking of the former gold and copper Troilus Mine towards production. The Company owns a 100% interest in the Troilus project. The Company holds a land position of approximately 435 square kilometers (km2) in the mining jurisdiction of Quebec, Canada, within the prospective Frotet-Evans Greenstone Belt. The Troilus Mine is located northeast of the Val-d'Or district of Quebec, produced 2 million ounces of gold and approximately 70,000 tons of copper. The seven kilometer main mineral corridor includes zones Z87, J Zone, X22 and Southwest, containing an estimated 11.21 Moz AuEq in the Indicated category and 1.80 Moz AuEq in the Inferred category. The Troilus property has an established infrastructure, including operating substation and power lines, an extensive network of well-maintained roads, operating water treatment facility, and a permitted tailing facility.


TSX:TLG - Post by User

Post by templetooth2on Jul 27, 2023 4:47pm
137 Views
Post# 35560448

Thoughts on ounces, value.

Thoughts on ounces, value.The other day I ventured an estimate re drilling since  the old resource report. I guessed it was something like 160 kilometers. I went back to the source (the Troilus website) and confirmed my guess was light. Actual drilling since the 2020 Prelim. Econ. Assmt. is 222,822 meters..

Further thoughts on ounces: the website still refers to the numbers we've been acquainted with for thee last few years - 4.96 million ounces Indicated and 3.15 million Inferred. The July presentation mentions what the new Teasibility Study will do:
       consider open pit only
       target 220,000 annual ounces
       reflect 2.5% royalty buyback
 AND  target an inaugural reserve with 90% resource conversion from the PEA.

You will notice that there's no mention of establishing a reserve/resource in the 10 million ounce neighbourhood. 

Actually, the 8 million ounce number from 2000 included some underground ounces. Total open pit resources were 4,21 million oz Indicated and 2.27 million Inferred. Grades were .8 grams/tonne and .7 g/t respectively.

I have no clear idea what the inaugural reserve number is going to be but I've learned from this company to think low. So start with 6.5 million ounces and take 90% conversion to reserves to get ballpark 5.85 million ounces in the proven and probable category. I think 90% conversion is high, but hey, they have drilled the snot outta this thing - over 300,000 meters total.

This post is long enuf. thoughts on value, later.
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