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    Troilus shallow West Rim gold: satellite pit value and scheduling notes for engineers

    June 12, 2026|

    Reviewed by Joe Ashwell

    Troilus shallow West Rim gold: satellite pit value and scheduling notes for engineers

    First reported on MINING.com

    30 Second Briefing

    Troilus Mining has reported its best West Rim intercept to date at the past-producing Troilus copper-gold project in Quebec, with hole WR-26-013 cutting 18.5 m at 6.91 g/t gold and 0.97 g/t silver from 11.5 m, including 6.4 m at 19.03 g/t gold, within 200 m of the planned reserve pit. Additional drilling 100 m along strike in WR-26-014 returned 23.85 m at 1.75 g/t gold and 2.64 g/t silver from 19.25 m, helping define a continuous, near-surface corridor still open along strike and at depth. The emerging satellite zone could provide higher-grade early feed to the planned 50,000 t/d, 22-year open pit, for which feasibility work shows C$1.08 billion initial capex, 6 Moz gold reserves and average annual output of 244,600 oz gold.

    Technical Brief

    • West Rim mineralised corridor now traced at least 170 m north to WR-26-016.
    • WR-26-016 returned 19 m at 2.69 g/t Au, 3.24 g/t Ag, 0.03% Cu from 99 m.
    • High‑grade sub‑interval in WR-26-016: 5 m at 7.76 g/t Au, 3.66 g/t Ag, 0.01% Cu.
    • True widths at West Rim interpreted as 75–90% of reported core lengths, supporting robust geometry.
    • Troilus plans an expanded second drill phase along the 5 km West Rim structural corridor.
    • West Rim remains entirely outside the existing resource, so any tonnage adds incremental to 380 Mt reserves.
    • Feasibility metrics: initial capex C$1.08 billion, after‑tax NPV5 C$885 million, IRR 14%.
    • Power and offtake de‑risking: 70 MW grid allocation plus concentrate contracts with Aurubis and Boliden.
    • Project financing advanced with C$1.3 billion in letters of interest and mandates for up to C$1.2 billion senior debt.

    Our Take

    Troilus Mining’s 161% 12‑month share price gain and C$970 million market cap put it in the upper tier of single‑asset gold developers in our database, which may help when syndicating the US$1.2 billion in mandated senior debt for the Quebec copper‑gold project.

    The combination of shallow high‑grade West Rim hits and a large, lower‑grade reserve base (6Moz gold, 484Mlb copper) suggests scope to re‑sequence the mine plan towards a higher‑margin early pit phase, a pattern seen in several Quebec gold projects in our recent 1187‑story mining corpus.

    With letters of interest from export credit agencies and lenders already exceeding the US$1.08 billion initial construction cost, Troilus’ Quebec copper‑gold project sits in a relatively rare group of gold‑dominant projects in our coverage where indicated debt appetite matches or surpasses upfront capex before a final build decision.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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