Troilus Gold Corp (TSX:TLG, OTCQX:CHXMF) said it plans to complete a Feasibility Study for its Troilus gold project in Quebec — including an inaugural Mineral Reserve Estimate — in the first quarter of 2024.
In a letter to shareholders, CEO Justin Reid took stock of the company's "significant accomplishments" in 2023 and its plans for the year ahead.
"Despite a turbulent year in the junior mining sector, compounded by the unforeseen challenges of the devastating forest fires in Quebec, our steadfast focus and commitment significantly enhanced the Troilus Project, establishing it as one of the largest undeveloped gold-copper deposits in North America," Reid wrote.
"As a founder and significant shareholder of the company, I share the sentiment of aspiring for greater returns and am excited about the potential that 2024 holds. This year will see major de-risking milestones that promise to solidify Troilus as a frontrunner among development-stage mining companies, positioning the Company and our valued shareholders for success."
Reid underscored key achievements from the past year, commencing with the company's successful exploration and expansion efforts, notably in Zone X22, which contributed to the growth of its October 2023 MRE. The focused exploration efforts were exemplified by impressive results from the drilling program at Zone X22, revealing high-grade discoveries and a noteworthy expansion of the mineral footprint.
The updated Mineral Resource Estimate for 2023 revealed substantial growth, marking a 447% surge in Indicated gold equivalent (AuEq) ounces since the company's inception. Troilus now stands as one of North America's foremost repositories of undeveloped gold resources, coupled with substantial copper assets. Reid emphasized the company's commitment to responsible project development, citing the implementation of a Sustainable Development Policy as a testament to their dedication to sustainable practices.
Apart from the completion of the Feasibility Study in 1Q, Reid said 2024 is shaping up to be another transformative year for Troilus. Also planned are approximately 25,000 metres of drilling, the continuation of exploration activities, including targeted drilling, at prospective regional targets, and the completion of an Environmental and Social Impact Assessment by calendar year-end.
Troilus is also continuously monitoring the dynamic ESG landscape to identify new opportunities that will ensure the sustainable development of its project, he added.
Troilus Gold is a feasibility-stage Canadian mining company focused on the systematic advancement and de-risking of the former gold and copper Troilus Mine towards production.