Troilus buys more land north-east of past-producing mine – by Staff ( – November 29, 2018)

Quebec-focused exploration and early-development company Troilus has significantly expanded its land position through the acquisition of the Troilus North project, located north-east of the Val-d’Or mining district.

The Toronto-based company is focused on restarting the former Troilus mine, which Inmet Mining operated as an openpit between 1997 and 2010, producing more than two-million ounces of gold and almost 70 000 t of copper.

TSX-listed Troilus will acquire the Troilus North project from Emgold Mining for 3.75-million shares and C$250 000 in cash. The cash component will absolve a bridge loan previously advanced.

The Troilus North project is an 11 300 ha property, comprising 209 mineral claims and is north-east of the Troilus mine.

“The acquisition of Troilus North adds a significant strategic land position and focuses our 2019 exploration drilling on extending the J Zone to the north-east,” commented senior VP for corporate development, Michael Timmins.

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