Troilus Mining (TSX:TLG) reports an updated technical report for its Troilus Gold‑Copper Project in Québec, Canada, delivering an after‑tax net present value (NPV) of US$3.2 billion ($4.4 billion) and a 22% internal rate of return.
The technical report confirms a 26‑year mine life with initial capital costs of US$1.428 billion and life‑of‑mine payable production of 5.63 million ounces (Moz) of gold, 472 million pounds (Mlb) of copper, and 10.88Moz of silver.
The updated mineral reserve estimate totals 478 million tonnes (Mt) of proven and probable reserves grading 0.44 grams per tonne gold (Au), 0.05% copper (Cu), and 0.92g/t silver (Ag). These results represent a 26% increase in reserve tonnage compared to the May 2024 feasibility study.
CEO Justin Reid says the results demonstrate the project’s scale and economic strength.
“The combination of a US$3.2 billion after-tax NPV, 22% IRR, 3.6-year payback, and approximately 26-year mine life demonstrates the scale, longevity, and economic strength of the project — particularly relative to an initial capital requirement of approximately US$1.43 billion,” Reid notes.
The project generates cumulative after‑tax cash flow of US$6.93 billion based on metal prices of US$3,600 per ounce gold, US$5 per pound copper, and US$50 per ounce silver.
During the 21‑year active mining period, annual payable production averages 251,000 ounces of gold, 20.1Mlb of copper, and 466,000 ounces of silver from processing 50,000 tonnes per day.
Operating costs average US$19.21 per tonne of mill feed, with all‑in sustaining costs of US$1,283 per ounce of payable gold during active mining years.
Measured and indicated mineral resources total 810.2Mt grading 0.39g/t Au, 0.05% Cu, and 0.82g/t Ag, containing 10.2Moz gold, 868.5Mlb copper, and 21.3Moz silver.
Troilus Mining has completed 132 additional drill holes totalling 40,786m since the 2024 Feasibility Study, including the discovery of the West Rim Zone.
Write to JC Villarba at Mining.com.au
Images: Troilus Mining
