Troilus Gold Project

Geology & Mineral Resources

Regional Geology

The Troilus gold and copper deposits lie within the eastern segment of the Frotêt-Evans Greenstone Belt, in the Opatica Subprovince of the Superior Province in Quebec, Canada. This greenstone belt extends for more than 300 kilometres and varies from a few kilometres up to 45 kilometres in width. It is divided into two similar volcano-sedimentary domains, the west domain and the east domain, which is known as the Frotêt-Troilus Domain.

The Troilus region contains many occurrences of gold, base metals, and molybdenite mineralization; Troilus being the largest gold deposit found to date.

Characteristics of the Troilus gold-copper mineral deposit:

  • Hosted in Troilus Diorite, and in porphyritic felsic intrusions
    1. Two main zones of Au-Cu sulphide mineralization: Z87 and J4 (Chalcopyrite, pyrite, pyrrhotite)
  • Mineralization is focused on the margins of Troilus diorite (metadiorite) in breccias, amphibolite, and quartz – chlorite (±tourmaline) vein swarms
  • Two phase mineralization
    1. Phase I – Introduces disseminated Au-Cu. Mainly hosted in amphibolite and breccia matrix
    2. Phase II – Gold bearing quartz veins crosscutting main foliation
  • Disseminated mineralization accounts for ~90% of Troilus ore zone
  • Quartz veining related to possible source of higher grade material (+50 g/t Au)

Mineral Resources

A technical report on the estimated mineral resources hosted at Troilus was completed by Roscoe Postle Associates Inc. in November 2017 for Pitchblack Resources Ltd.  According to the conclusions of the report, there are significant underground and open pit mineral resources remaining at Troilus, where mineralized gold grade and thicknesses are very continuous and the mineralization remains open at depth.

Z87, J4 and J5 Zones – Open Pit & Underground Mineral Resources

  Tonnes
(Mt)
Au
(g/t)
Cu
%)
AuEq
(g/t)
Au
(000 oz)
Cu
(Mlb)
AuEq
(000 oz)
Indicated 44.0 1.27 0.120 1.45 1,789 116.5 2,054
Inferred 18.7 1.03 0.084 1.16 622 34.8 701

CIM definitions were followed for Mineral Resources. Open pit Mineral Resources were estimated at a cut-off grade of 0.3 g/t Au and were constrained by a Whittle pit shell.  Underground Mineral Resources were estimated at a cut-off grade of 0.8 g/t Au. US metal prices of $1,500/ozAu and $3.50/lb Cu; exchange rate of US$1.00 = C$1.1. AuEq = (34.59 x Au grade + 54.02 x Cu grade)/ 34.59. A recovery of 83% was used for gold and 92% for copper. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.  The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. The Inferred Mineral Resource in this estimate has a lower level of confidence that that applied to an Indicated Mineral Resource The effective date of the Mineral Resource Estimate is November 20, 2017. QP statement related to this estimate can be found in the technical report or in the “Disclaimer” section of this website.

Z87, J4 and J5 Zones – Underground Mineral Resources Only

  Zone Tonnage
(Mt)
Au
(g/t)
Cu
(%)
AuEq
(g/t)
Contained
Gold
(000 oz)
Contained
Copper
(Mlb)
Contained
AuEq
(000 oz)
Indicated 87 29.6 1.48 0.157 1.72 1,403 102.2 1,635
J4 - - - - - - -
J5 - - - - - - -
Total
Indicated
  29.6 1.48 0.157 1.72 1,403 102.2 1,635
Inferred 87 7.9 1.19 0.138 1.41 305 24.2 360
J4 4.4 1.15 0.040 1.21 163 3.9 172
J5 0.3 0.98 0.045 1.05 10 0.3 11
Total
Interred
  12.6 1.18 0.102 1.33 478 28.4 543

Mineral Resources as at April 22, 2016, follow CIM definitions. Mineral resources were estimated at a cut-off grade of 0.8 g/t Au. Mineral resources were estimated using long-term metal prices of US$1,500/oz Au and US$3.50/lb Cu; and an exchange rate of US$1.00 = C$1.1. AuEq = (34.59 * Au Grade + 54.02 * Cu grade)/ 34.59. Recoveries of 83% Au and 92% Cu were used. Numbers may not add due to rounding. Other than the receipt of necessary permits and ongoing reclamation obligations, Sulliden does not know of any material legal, political, environmental or other factors that could affect the development of the project. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.  The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. The Inferred Mineral Resource in this estimate has a lower level of confidence that that applied to an Indicated Mineral Resource The effective date of the Mineral Resource Estimate is November 20, 2017.  QP statement related to this estimate can be found in the technical report or in the “Disclaimer” section of this website.