May 1, 2019, Toronto, Ontario – Troilus Gold Corp. (TSX: TLG; OTCQB: CHXMF) (“Troilus” or the “Company”) has launched a three-year multidisciplinary research program for the Troilus Gold Project in collaboration with Western University’s Department of Earth Sciences and Université Laval, entitled the “Troilus POD Project” (Prospecting and Ore Discovery). The aim of the program will be to better understand the mechanisms of gold mineralization and possible exploration vectors on the Troilus property. With this information, the Company expects to be able to generate exploration targets and improve overall prospecting efforts.
With a better understanding of the fundamental processes involved in the formation of Troilus’ gold-copper deposits, the research team will develop exploration strategies using new technologies and scientific approaches and will also develop innovative prospecting tools for ore discovery applications using advanced computing and analytical techniques.
Justin Reid, CEO of Troilus commented, “We are very excited to collaborate with leading experts in the field and believe that this research program could result in exciting new opportunities for the Troilus project.”
The research project will be directed and managed by the following principal team members, along with Troilus management, and will involve the ongoing collaboration of industry experts, MSc and PhD students:
Dr. Neil Banerjee is an associate professor in the Department of Earth Sciences at Western University where he holds an NSERC Industrial Research Chair in Advanced Mineral Exploration. He is recognized as a leading researcher in modern and ancient hydrothermal systems, biogeochemistry, and mineral exploration, particularly in ancient greenstone belts. He has made important contributions to exploration and development of gold projects in Quebec, Ontario, Manitoba, and Northwest Territories in Canada and worldwide. His group combines fieldwork, laboratory, experimental, and computational approaches to create value over the life of mine cycle. In particular, his team has developed an innovative approach using cutting-edge synchrotron technology that provides a powerful tool to address industry-relevant problems using a high-fidelity analytical technique that is both rapid and cost-effective. This innovation provides trace element analysis and mapping of ore minerals with ppm detection limits, identifying the speciation of elements to improve geometallury, and determine the mineralogical make-up of geological materials, mineral processing residues, and mine wastes. By utilizing these techniques in combination, a richer, more complete characterization of these complex materials is now possible to make informed decisions.
Dr. Georges Beaudoin has been professor of Economic Geology at Université Laval since 1993 and has held the NSERC-Agnico Eagle Industrial Research Chair in Mineral Exploration at Université Laval since 2012. He is the Director of the Centre de recherche sur la géologie et l’ingénierie des ressources minérales (E4M), a recognized research centre at Université Laval with 30 faculty members. He developed an international reputation in the utilization of CO2 in mine waste management, leading a multidisciplinary team of researchers to demonstrate the feasibility of atmospheric CO2 reaction with mine waste. He is an internationally-recognized expert in metallogeny, hydrothermal ore deposits, and isotope geochemistry, in addition to his world leadership research in indicator mineral methodologies for exploration. His work on magnetite chemistry has developed a new field of research for indicator minerals. He is Editor of Mineralium Deposita, since 2012, a leading international scientific journal in the field of mineral deposits. He has been President (2013-2015) of the Society for Geology Applied to Mineral Deposits (SGA) and international scientific society with more than 1300 members.
Dr. Neil Banerjee, commented, “The in-depth study of the Troilus deposit will be a unique opportunity to understand what is at this time a relatively uncommon type of gold-copper mineralization in northern Québec. We look forward to working with Troilus’ team and using this new knowledge to improve and streamline prospecting efforts on their property.”
The total investment in this research project is approximately $1.95 million over three years, of which Troilus will contribute $250,000 annually for a total of $750,000.
About Troilus Gold Corp.
Troilus is a Toronto-based, Quebec focused, advanced stage exploration and early-development company focused on the mineral expansion and potential mine re-start of the former gold and copper Troilus mine. The 16,000-hectare Troilus property is located near Chibougamau, within the Frotêt-Evans Greenstone Belt in Quebec, Canada. From 1996 to 2010, Inmet Mining Corporation operated the Troilus project as an open-pit mine, producing more than 2,000,000 ounces of gold and nearly 70,000 tonnes of copper.
The technical and scientific information in this press release has been reviewed and approved by Blake Hylands, P.Geo., who is a Qualified Person as defined by National Instrument 43-101. Mr. Hylands is an employee of Troilus and is not independent of the company under National Instrument 43-101.
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This press release contains “forward?looking information” within the meaning of applicable Canadian securities legislation. Forward?looking information includes, but is not limited to, statements regarding, the impact of the research program on the Company. Generally, forward?looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “aim”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “will”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward?looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Troilus to be materially different from those expressed or implied by such forward?looking information, including but not limited to: there being no assurance that the research program will results in any opportunities for the Company; generation of exploration targets; improved prospecting efforts; development of new exploration strategies; development of new technologies; the on-going collaboration; risks and uncertainties inherent to mineral resource estimates; receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages; environmental and other risks of the mining industry, including without limitation, risks and uncertainties discussed in the Technical Report and other continuous disclosure documents of the Company available under the Company’s profile at www.sedar.com. Although Troilus has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward?looking information. Pitchblack and Troilus do not undertake to update any forward-looking information, except in accordance with applicable securities laws.