Troilus Gold has added 230 sq. km of land holdings, or 422 claims, to its Troilus project in the province\u2019s Frotet-Evans greenstone belt, Quebec, increasing its land position to a total of 1,073 sq. km.<\/p>\n
\u201cThese new acquisitions, coupled with additional staking by our team, further consolidates our position at a minimal cost to shareholders,\u201d Justin Reid, the company\u2019s CEO, said in a release.<\/p>\n
Troilus North claims will be a focus of this year\u2019s exploration work.<\/p>\n Troilus\u2019 stock was trading up 5.5% at Tuesday’s close on the TSX<\/p>\n<\/blockquote>\n<\/figure>\n The latest additions include an agreement with\u00a0Globex Mining, adding 49.6 sq. km of claims south of the Troilus project, in exchange for 350,000 common shares of the company and a 2% gross metal royalty. Troilus may repurchase 1% of the royalty for C$1 million at any time. These claims cover several copper and gold showings, as well as geophysical anomalies.<\/p>\n The company is also acquiring 21 claims south of the Troilus project, covering 11.4 sq. km, from a private company for C$69,000 in cash and a 1% net smelter royalty (NSR). Half of the royalty may be repurchased at any time for C$500,000, and the remainder for C$1.5 million.<\/p>\n Troilus has also staked 310 new claims covering 169 sq. km; the company remains the largest landholder in the Frotet-Evans greenstone belt.<\/p>\n In addition, Troilus has also repurchased a 1.5% NSR on 113 sq. km of claims, known as Troilus North, which were acquired in 2018. In exchange, the company issued 150,000 common shares to the vendor.<\/p>\n According to Reid, the Troilus North claims will be a focus of this year\u2019s exploration work.<\/p>\n The Troilus project features a past-producing gold and copper mine, which churned out over 2 million oz. of gold and almost 70,000 tonnes of copper between 1996 and 2010.<\/p>\n Last November, the company published an updated resource for the project, with total indicated resources of 159.1 million tonnes grading 0.78 g\/t gold and 0.09% copper for a total of 4.7 gold-equivalent oz. Inferred resources add 52.7 million tonnes at 0.9 g\/t gold and 0.08% copper for 1.8 million gold-equivalent oz. Cut-off grades range between 0.92 g\/t gold-equivalent and 1.04 g\/t gold-equivalent.<\/p>\n Troilus\u2019 stock was trading up 5.5% at Tuesday’s close on the TSX. The company has a C$153 million market capitalization.<\/p>\n","protected":false},"excerpt":{"rendered":" Company has added 230 sq. km of land holdings, or 422 claims, to its Troilus project in the province’s Frotet-Evans greenstone belt.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369,4],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1197113"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1197113"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1197113\/revisions"}],"predecessor-version":[{"id":1197114,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1197113\/revisions\/1197114"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1197113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1197113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1197113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n