In this InvestorIntel interview, host Tracy Weslosky talks to TRU Precious Metals Corp.’s (TSXV: TRU | OTCQB: TRUIF) Co-Founder, CEO & Director Joel Freudman about upcoming drill results and the key strategic location of its Newfoundland Golden Rose Project.

“The key value driver for us,” Joel says, “is our Golden Rose Project in central Newfoundland. We’re right between two gold deposits – five million ounce Marathon Gold on one side, and they’re putting their mine into production in 2025, and the other side is Matador Mining with a significant gold resource. We control all the land between them.” This consolidation came about as a result of a recently announced option agreement that added the remaining smaller properties to TRU’s land package, which, he tells Tracy, “makes it a great turnkey project for potential acquirers down the road.”

Joel also tells Tracy that results from the summer 2000 meter drill program at the Jacobs Pond area of the Golden Rose Project are expected shortly, where the company “saw a lot of indications at surface for copper even bits of cobalt.” He believes that finding copper at Jacob’s Pond could be a good potential catalyst for TRU, diversifying its appeal and meriting a follow-on drill program.

To access the full InvestorIntel interview, click here

Don’t miss other InvestorIntel interviews. Subscribe to the InvestorIntel YouTube channel by clicking here.

About TRU Precious Metals Corp.

TRU is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including 45 kilometres of strike length along the deposit-bearing Cape Ray – Valentine Lake Shear Zone directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.

To know more about TRU Precious Metals Corp., click here

Disclaimer: TRU Precious Metals Corp. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at [email protected].

It’s not often that you see a junior mining company release a general corporate update, with no new drill results, that sparks a 45% rally in the stock with a dramatic and sustained increase in daily volume. Especially over the last two weeks, which hasn’t exactly been a “risk-on” type of market. Naturally, I was inclined to have a look and see what all the fuss was about.

It may come as no surprise that I had no idea what most of the somewhat technical press release was trying to convey. My commerce degree and business experience have not blessed me with the ability to interpret geologic concepts. I can grasp oz/tonne, true width, depth, inferred resource, etc. but that’s all just math (which my degree and business experience did equip me to comprehend). But when it comes to hyperspectral imaging, induced polarization survey, or the role of compressional structures on stratigraphy, you might as well be speaking another language, specifically one I don’t understand. However, the market has spoken and the market is always right, so even though I may not understand it, it appears that it is pretty good news.

The company that has generated this recent buzz is Westward Gold Inc. (CSE: WG | OTCQB: WGLIF), a mineral exploration company focused on developing the Toiyabe, Turquoise Canyon, and East Saddle Projects located in the Cortez Hills area of Nevada. They’ve assembled a 3,830 hectare land package in the heart of Nevada’s Battle Mountain-Eureka Gold Trend, one of the most prospective mining districts in the world, approximately 10 kilometers southwest of Barrick Gold Corp.’s Cortez Hills mine and adjacent to Barrick’s past producing Toiyabe-Saddle Mine.

The press release that caught the market’s attention was a seemingly run-of-the-mill corporate update, but I guess the devil is in the details. I’ve already stated that a lot of the technical information was over my head but I’ll try and interpret what made this particular update a little more special. It was a very thorough summary of the last year’s activity, but there wasn’t a lot of news that hadn’t already been disclosed. As near as I can tell, only the IP Survey, possibly reinterpretation of legacy geophysical data, and the combination of this data, with previously disclosed information, to come up with new stratigraphic findings are new to the public domain. So the excitement must lie somewhere within there.

Highlights from the 17 line-kilometer IP Survey point to the main host rock at the Historical Resource at Toiyabe (~173 koz at 1.2 g Au/t) being interpreted to also be present at Turquoise Canyon, under only 150-250 meters of cover. The chargeability model confirms two near-term step-out targets at Toiyabe and further informs priority targets at Turquoise Canyon. Reinterpretation of legacy geophysical data confirmed the IP findings related to the presence of favorable Lower Plate carbonates below the Upper Plate cover at Turquoise Canyon and further understanding of the geometry of the carbonate window and associated structures at Toiyabe. Certainly, positive news but even a layman like myself is struggling to find anything market-moving here.

That suggests it’s all down to the new stratigraphic findings (or I’ve completely missed the boat on this one, which is entirely possible). Cross-section analysis provided for a new understanding of the role of compressional structures on stratigraphy, the dip of mineralization, and a potential link between mineralization at surface in the Toiyabe-Saddle open pits and at depth at Toiyabe. Repetition of favorable lithologies (stratigraphic duplex) appears to occur beneath the Historical Resource. The Company believes this confirms that gold mineralization is hosted in the Horse Canyon and Wenban Formations, which are documented gold hosts at the nearby Pipeline, Cortez Hills, Goldrush, and Fourmile deposits.

If that is the good news, I will always be late to the dance because I look for something more understandable (to me), like drill results, to get me excited. To that end, the Company is proceeding with a 12-15 hole, 4,000 meter drilling campaign scheduled to begin in June, focusing on several of the targets noted above. This initial drilling program is budgeted to be roughly US$1 million, which leaves ample funds for Phase 2 drilling later in the year following the Company’s recent C$2.5 million financing, which closed in February.

At the end of the day, the market has spoken and people a lot more knowledgeable than me are suggesting Westward Gold might be on to something in Nevada. With a market cap of only C$10 million, this is another example of an almost free option on a company with an interesting next couple of months ahead of it.

In this InvestorIntel interview with host Byron W. King, TRU Precious Metals Corp.’s (TSXV: TRU | OTCQB: TRUIF) Co-Founder, CEO & Director Joel Freudman provides an update on the drill program at TRU’s Golden Rose Project in Central Newfoundland.

In the interview, which may also be viewed on the InvestorIntel YouTube channel (click here to subscribe), Joel Freudman talks about their Golden Rose Project’s strategic location in Newfoundland, situated between two major gold deposits. With Eric Sprott and TSX listed Altius Minerals as the largest shareholders, Joel discusses TRU’s new IP survey results and gold zone modelling from the Golden Rose Project which showed strong indications for copper in addition to gold.

To watch the full interview, click here

About TRU Precious Metals Corp.

TRU is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including 45 kilometres of strike length along the deposit-bearing Cape Ray – Valentine Lake Shear Zone directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray Gold Project.

To know more about TRU Precious Metals Corp., click here

Disclaimer: TRU Precious Metals Corp. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at [email protected].

With gold prices verging on US$2,000/oz, currently US$1,970/oz, it is not surprising that gold mining companies are circling the earth for gold. Today’s company is looking at unlocking the potential in Guatemala, a country in Central America just south of Mexico.

Volcanic Gold Mines Inc. (TSXV: VG) (“Volcanic”) is a gold and silver explorer focused on building multi-million-ounce gold and silver resources in under-explored countries. Volcanic’s current focus is in Eastern Guatemala where the Company has an option to earn a 60% interest from JV partner Radius Gold Inc. in the Holly and Banderas Projects (and other areas in Guatemala) by spending the cumulative amount of US$7.0 million on exploration. In addition, Volcanic has acquired a geochemical database that has been generated over 20 years of exploration in the region and has an exclusive right to acquire any mineral projects generated from the database.

The Holly Project

The Holly Project is located in eastern Guatemala in a region where there are world-class gold and silver mines/deposits. The Project is 50km by paved road to Bluestone’s gold deposit which is under development. The Project has multiple high-grade quartz veins similar to the ‘Escobal’ and ‘Cerro Blanco’ deposits. In 2007 Goldcorp made the Escobal world-class silver discovery just 20 km away from the Holly Project. The Cerro Blanco discovery grew to ~3.5 million oz gold.

Previous shallow drilling intersected encouraging results including 4.58m @ 79.84 g/t gold and 5,053 g/t silver. The Project is at an early stage of drilling with a goal to confirm the depth and strike extent of La Pena vein to establish a high-grade maiden resource.

The Holly Project showing the various high grade veins including La Pena

Source: Volcanic Gold Mines Inc. company presentation

On March 31, 2022, Volcanic stated: “The gold and silver discovery we have made at Holly is significant. It is a high-grade vein deposit that could be mined from underground, causing very little surface disruption. It will not require a processing plant as in the near future there will likely be two mills in operation within trucking distance. We are in the process of concluding an inferred resource calculation and from that we will generate an approximate value of the deposit that has been discovered to date. Further, the deposit is open in all directions……”

The Holly Project showing La Pena and drill results

Source: Volcanic Gold Mines Inc. company presentation

Guatemala has a new pro-mining government in place. The previous period led to mining closures as the past government was against mining. This still leaves some issues today for Volcanic; however Volcanic recently stated in an update that: “…..it is clear that the Central government and Departmental government of Chiquimula support the Holly project and will work with Volcanic to regain the social license. Volcanic looks forward to a resolution of the issues and a resumption of work at the project and corresponding news flow.”

The Banderas Project and other areas under the Radius Gold JV agreement

Volcanic recently updated investors that they are “actively reviewing the land position it optioned when we signed the agreement with Radius Gold Inc. on June 1st 2020. Several of the areas have been reviewed, some have been rejected and the concession applications canceled. To date, three have shown significant promise and the Company is going through the process of getting these concessions granted. There are many more areas to review and the work is ongoing.”

Closing remarks

As expected emerging countries come with greater risk and potentially greater reward. In the case of Guatemala, Volcanic is hoping to make a significant discovery and announce a high-grade maiden resource at the Holly Project in 2022. There is also further potential for discovery at the Banderas Project and three other concessions (not yet granted). Noting these all fall under the Radius Gold Inc. JV agreement. Volcanic is well-financed with about C$7.5 million in cash.

CEO Simon Ridgway has excellent in-country experience as you can learn more in this InvestorIntel interview here, where he discusses Volcanic intent on building a multi-million ounce gold and silver resource.

Volcanic Gold Mines Inc. trades on a market cap of C$15 million, which leaves plenty of potential upside if things go well in 2022. Stay tuned.

Most junior gold mining stocks tend not to move with the ebb and flow of the underlying commodity price. Certainly not the way their more senior brethren, with defined resources and production, tend to. And why would they? A higher or lower commodity price isn’t going to impact your cash flow or the value of your resource if you don’t have any of that in the first place. For a junior mining stock, it’s all about the drilling. If you find something promising with one round of drill results, then hopefully you can raise more money and keep going until you finally start building a resource estimate and perhaps your first PEA (preliminary economic assessment) or PFS (pre-feasibility study). Then, maybe, your stock price will start to correlate to the underlying commodity price, or not. In the meantime, if you want to follow junior mining stocks it’s worth taking note of when a big batch of drill results will start filtering out to the market to generate some buzz.

I’m sure there are dozens of companies out there right now that are in the situation of having drilling news pending but today we are going to look at only one – MAS Gold Corp. (TSXV: MAS). MAS Gold is a Canadian mineral exploration company focused on gold exploration projects in the prospective La Ronge Gold Belt of Saskatchewan. MAS Gold operates four properties in the belt, including the Preview-North, Greywacke Lake, Elizabeth Lake and Henry Lake Properties that extend along segments totaling roughly 60 kilometres of the geologically prospective La Ronge, Kisseynew and Glennie Domains that make up the La Ronge Gold Belt. Additionally, the Company recently completed the acquisition of a 100% interest in the Preview SW Gold Project from Comstock Metals Ltd. (TSXV: CSL) in consideration of the issuance of 30,000,000 common shares in MAS Gold. The 843 hectare Preview SW Property is contiguous with MAS Gold’s Preview-North Property.

In January, MAS Gold announced the commencement of an 8,000 meter drill program on its Preview-North Property including drilling at the newly acquired Preview SW Deposit. The winter drilling program summary includes: a 4,500 meter drill program at the North Lake deposit; 2,700 meters at the Preview SW Property; and an 800 meter drill program at the Point Deposit. As of March 8^th, the Company had completed 34 diamond drill holes with a total of 3,759 samples sent to SRC Laboratories in Saskatoon, Saskatchewan for assay. All drill holes were successful in intersecting the felsite unit which is known to host previously intersected mineralization hosted in broad zones of sheeted quartz veins. Drilling was also successful in extending the felsite by 80 meters to the northeast and by 50 meters to the southwest. On-going drilling continued throughout the month of March as the next phase of the program transitions to the Point Deposit and the Preview SW Deposit.

The North Lake deposit located at the Preview-North Property is estimated to contain an Inferred Mineral Resource of 18,100,000 t grading 0.85 g/t Au, or 494,000 contained ounces of gold. The recently purchased Preview SW deposit hosts a historical Indicated Mineral Resource containing 158,300 ounces of gold (2.61 million tonnes grading 1.89 g/t Au) and a historical Inferred Mineral Resource containing 270,800 ounces of gold (5.70 million tonnes grading 1.48 g/t Au). The Greywacke North deposit has an updated, combined open pit and underground Indicated Mineral Resource of 645,000 t averaging 4.90 g/t Au for 101,000 in-situ ounces of gold (600,000 t at 4.89 g/t Au, and 45,000t at 5.03 g/t Au, respectively), plus a combined open pit and underground Inferred Mineral Resource of 410,000 t averaging 4.12 g/t Au for 55,000 in-situ ounces of gold (35,000 t at 1.97 g/t Au, and 375,000 t at 4.33 g/t Au, respectively). So the Company has already proven there is gold in this area. Now investors are waiting to see if they can develop and expand those numbers to the threshold where larger investors or potential suitors become interested.

As of yesterday’s close, and including the shares issued in the Comstock transaction, MAS Gold has a market cap of roughly C$17 million.

In this InvestorIntel interview with host Tracy Weslosky, West Red Lake Gold Mines Inc.‘s (CSE: RLG | OTCQB: RLGMF) Executive Chairman Tom Meredith provides an update on the West Red Lake exploration programs. In addition to touching on spring and summer drilling objectives, Tom discusses the general gold market.

In the interview, which may also be viewed on the InvestorIntel YouTube channel (click here to subscribe), Tom confirms that the drill program’s objective this spring is intended to expand the gold mineralization zone. West Red Lake Gold Mines is a Toronto-based minerals exploration company focused on gold exploration and development in the prolific Red Lake Gold District of Northwest Ontario, Canada.

To watch the full interview, click here

About West Red Lake Gold Mines Inc.

West Red Lake Gold Mines is a Toronto-based minerals exploration company focused on gold exploration and development in the prolific Red Lake Gold District of Northwest Ontario, Canada. The Red Lake Gold District is host to some of the richest gold deposits in the world and has produced 30 million ounces of gold from high grade zones. The Company has assembled a significant property position totalling 3,100 hectares in west Red Lake (the “West Red Lake Project”) which contains three former gold mines located 15 km west of the Red Lake mine complex. The Mount Jamie Mine and Red Summit Mine properties are 100% owned by the Company and the Rowan Mine property is held in a 69% – 31% joint venture with Evolution Mining Limited. The West Red Lake Project property covers a 12 km strike length along the Pipestone Bay St Paul Deformation Zone and the Company is continuing to explore the property both along strike and to depth.

To learn more about West Red Lake Gold Mines Inc., click here

Disclaimer: West Red Lake Gold Mines Inc. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at [email protected].

I’ve spoken before about my simplistic view of junior mining companies. Raise capital, drill and stake, and hope the results of your actions allow you to raise more cash to repeat the cycle until you hopefully have an economically viable resource. Or if you are a shorter term investor, hope that enough is done to get the company taken over or vended into a much larger and deeper pocketed entity. Ultimately there needs to be a catalyst for an investor to be motivated to buy shares in any particular junior mining entity. Sure there are plenty of prospects out there that have interesting land holdings, closeness to an exciting or world class play or perhaps even some great historical information that can create intrigue. However, if you don’t have any cash to advance whatever theme you are pursuing and no pending drill results, you have virtually no interest to me. I realize that doesn’t mean I’m right, nor does it necessarily make me a better investor, it’s just the way I roll.

With that in mind, I recently saw a company doing something creative to generate cash to keep the dream alive. MAS Gold Corp. (TSXV: MAS) is a Canadian mineral exploration company focused on exploration projects in the prospective La Ronge Greenstone Belt of Saskatchewan. In the belt, MAS Gold operates the Greywacke, North Lake and Point advanced gold projects, each hosting drill-intercepted zones of gold mineralization. Like many junior miner’s they have a substantial number of warrants outstanding as a result of the incentives sometimes required to get investors to purchase a new share issue (especially if you are running low on news). These warrants typically have a life span of 24 to 36 months before the right to exercise the warrant expires. As you would expect, unless the warrant is deep in the money, most warrant holders wait until a few days or weeks of expiration to make a decision. In a sign that they aren’t your typical run of the mill gold mining company, MAS Gold has created an incentive program to have investors step up to the plate well before warrant expiry.

I’m sure this isn’t a unique undertaking, or maybe it is in which case I definitely tip my hat to them, but I know I haven’t seen something like this before and I’m certainly no stranger to warrants (I believe I currently hold 46 warrant positions in various companies). In an effort to get the cash in the door on a more timely basis, on August 17^th of this year MAS Gold announced commencement of an Early Warrant Exercise Incentive Program. They are looking to expedite the exercise of up to 50.4 million warrants with strikes that are either at or pretty close to Friday’s close of $0.105/share. Generally speaking, a warrant holder has until September 16^th to exercise existing warrants they hold and if they do, for every two warrants they convert to common shares they will get another “incentive” warrant exercisable at $0.20. But wait, there’s more. A second option allows you to pay a $0.02 premium to your current warrant exercise price and in return get two flow through shares plus the incentive warrant. This could raise as much as $5.1 million if everyone elects option A or an additional $1.0 million if option B is chosen, which would go a long way towards generating plenty of news for this very capital efficient Company.

However, being creative about raising capital doesn’t make for a very exciting investment thesis. Granted it helps a lot but you aren’t buying a junior gold company for their unique ability to finance themselves. It’s all about what they can turn those funds into. This is where MAS Gold starts to look pretty intriguing. As I noted above, they are efficient purveyors of capital. For roughly $3.5 million the company was able to drill 25 holes for over 5,400 meters given that the bulk of their targets are from 100-250 meters. This generated some pretty impressive results at their Greywacke Lake property including some high grade showings: DDH GW21-128 hosts 7.36 g/t over 9.9m and DDH GW21-142 with 3.8 g/t over 8.16m; including 5.7 g/t over 2m and 10.87 g/t over 1m. At their Preview-North Lake property spring drilling highlights include Hole NL21-052: 0.927 grams gold/tonne over 122.5 metre interval and Hole NL21-054: 1.249 grams gold/tonne over 117.2 metre interval. As you can see, two very different projects located in the same corridor roughly 20 kms apart.

The best part is, there is still more news to come as the Company recently initiated its summer drill program designed to continue testing the down dip extension of the North Lake deposit. An additional 10-12 drill holes are planned while last week MAS Gold closed a fully subscribed private placement financing for $1.5 million. We’ll know by mid-September how successful the early warrant exercise program worked which could give the Company ample funding to continue pumping out the results. Drill, results, repeat, that’s the kind of junior mining company I pay attention to.

Troilus Gold Corp. (TSX: TLG | OTCQB: CHXMF) (‘Troilus’) has been having success in recent months discovering very high grade gold, silver and copper samples; suggesting that the increased market valuation has yet to be translated into comparable share value. It seems the market has not been paying attention. Or perhaps the recent capital raise of C$22.1 million has slowed the price gains. At least for now this is indeed more good news for the Company…

Speaking of good news, Troilus Gold Corp. had three strong news releases in H2 2020:

On December 9, 2020 Troilus reported: “Troilus expands high grade Testard Zone with outcrop samples up to 80 g/t gold and 1,060 g/t silver and channel samples up to 19.5 g/t gold; Beyan Zone expanded with 12 g/t gold outcrop sample located 600 metres north of main discovery.” This is good news, yet the market has hardly reacted.

On October 19, 2020 Troilus reported: “Troilus reports up to 203 g/t (6.53 Oz/tonne) gold, 2,440 g/t (78.45 Oz/tonne) silver and 4.37% copper from insitu sample located 10km south of current mineral resource.” Again very high grades, albeit just small samples.

It should be noted these are only sample findings at this stage; however high grade gold is considered to be above 5 g/t, high grade silver above 50 g/t, and high grade copper above 1.5%. What this means is that these excellent sample results are potentially good early indicators towards future drill results, but no guarantee.

In further good news, in December 2020 Troilus Gold announced that they had entered into an agreement “pursuant to which it has repurchased and cancelled the sliding 2.5% Net Smelter Royalty (“NSR”) from First Quantum Minerals Ltd. (“FQML”) attached to the 81 mineral claims and one surveyed mining lease known as the Troilus Mine, for cash consideration of C$20 million.” My take on this news is that Troilus Corp. must be very confident in their Project that they were prepared to pay C$20 million to extinguish the royalty.

The Troilus Gold Project and Mine aerial view and location map

Source: Troilus Gold Corp. Corporate presentation

More about Troilus Gold Corp.

Troilus is focused on exploration and a potential mine re-start of the former gold and copper Troilus Mine. The Troilus Property (includes the past producing mine) encompasses 107,326 hectares and is located within the Frotêt-Evans Greenstone Belt in Quebec, Canada. This is a highly prospective gold region and the Troilus Property is still largely unexplored, leaving excellent exploration upside. From 1996 to 2010, Inmet Mining Corporation operated the Troilus Project as an open pit mine, producing more than 2 million ounces of gold and nearly 70,000 tonnes of copper. In 2017 Troilus acquired the Project and has drilled over 80,000 metres and grown the resource significantly. It is also good to note that back in 2010 when the old Troilus Mine closed gold was trading at about US$1,000/oz; almost half today’s gold price.

The Troilus Project has an Indicated Resource of 4.96 million ounces of contained AuEq @ 0.87g/t AuEq and an Inferred Resource of 3.15 million ounces of contained AuEq @0.84g/t. This is a considerable size resource for a gold junior on a huge and mostly unexplored property. In fact it is one of the largest undeveloped gold resources in Canada. The Project looks likely to be a combination of open pit and underground mining.

Troilus Gold Corp. Preliminary Economic Assessment (PEA) (Aug. 2020) and reasons to invest

Source: Troilus Gold Corp. Corporate presentation

Closing remarks

Troilus trades on a market cap of C$167 million (~US$132 million), which appears to be good value given where the current gold price is today, hovering around US$1,945/oz. As shown above at gold US$1,950 the PEA post-tax NPV5% is US$1.156 billion. Perhaps the low market cap (11% of the gold US$1,950 NPV) is because Troilus is still in the relatively early stages of proving up their resource and is yet to fund their Project. The Quebec jurisdiction is excellent and the Project has US$350 million worth of existing infrastructure in place. Finally Troilus has very high institutional equity ownership (+ Eric Sprott) and high insider ownership with a strong management team with a proven track record. We will know more after the PFS is released at some stage in 2021.

All of this gives long term investors that are bullish on gold plenty of reasons to consider Troilus Gold Corp. as your next junior gold play. You can read more here in my previous article.

Disclosure: The author is long Troilus Gold Corp. (TSX: TLG)