The Troilus North Property (“Troilus North” or the “Property “) consists of 209 contiguous claims totaling 11,309 hectares.  It is now part of Troilus Gold Corporation’s (TSX: TLG) (www.troilusgold.com) 85,600 ha Troilus Mine Property.  Troilus Gold owns 100% of the Property and Emgold retains a 1% Net Smelter Return (“NSR”) interest in the Property, which Troilus Gold can purchase for C$1.0 million. 

Emgold optioned the Troilus North Property in 2018 and subsequently acquired a 100% interest later that year.  Emgold filed a technical report titled, “Troilus North Property, Troilus-Frotet Volcano-Sedimentary Belt, Opatica Geological Sub-province, Quebec, Canada”, prepared for Emgold Mining Corporation by Donald Théberge, P.Eng., MBA, with Effective Date October 10, 2018 (the “Troilus North Technical Report”).   The Troilus North Technical Report summarized historical work done on the Troilus North Property, discussed six exploration targets that had been identified for exploration, and recommended exploration work proposed for the Troilus North Property.  One of the main exploration targets identified was the “Troilus Mine Extension”, which was a target identified primarily from geophysics work that showed potential to expand mineralized zones from the adjacent Troilus Mine Property onto the Troilus North Property.  Emgold conducted exploration on the Property in 2018 and at year-end, sold the Property to Troilus Gold for C$250,000 in cash and 3.75 million Troilus Gold common shares.

The Property is located adjacent to the former Troilus Mine, previously operated by Inmet Mining Corporation and an underground and open pit operation.  From 1997 to 2010, Troilus Mine produced more than 2 million ounces of gold and 70,000 tonnes of copper (source:  Troilus Gold website).  The main historic open pit at Troilus Mine is located about two kilometers from the Troilus North Property boundary.   Troilus Gold Corporation, formed in 2018, is completing exploration on the Troilus Mine property with the goal of developing mineral reserves to bring the historic mine back into production.  Troilus Mine has an indicated 4.71 million AuEq ounce resource and an inferred 1.76 million AuEq ounce resource (source:  Troilus Mine Technical Report, January 1, 2019).

Note that the location of the Troilus North Property adjacent to the Troilus Mine or other properties in the area does not ensure exploration success or discovery of mineral resources and reserves at Troilus North.  Note also that no mineral resources or reserves have yet been delineated at Troilus North.

The Property consists of 209 contiguous claims totaling 11,309 ha located 160 km north of the town of Chibougamau in the province of Quebec. It is in the northwest section of the Val-d’Or mining district within the Frotet-Evans Greenstone Belt.  The Property is easily accessible from regional Trans Taiga road going from Chibougamau to Nemiscau and from a well maintained secondary gravel road to the former Troilus Mine, up to the southern boundary of the Property.

Troilus Mine and Troilus North Property Location 
Source:  Troilus Gold Technical Report by RPA dated January 1, 2019

The combination of the 4,700-hectare Troilus Mine property with the 11,309-hectare Troilus North Property to the north east created a roughly 16,000-hectare exploration Property and enhances Troilus Gold’s ability to further increase mineral resources at Troilus Mine and, subject to exploration success and other factors, ultimately bring the Troilus Mine back into production.  Note that in 2020, Troilus Gold further expanded its property and now controls more than 84,600 ha in the Fortet-Evans Greenstone Belt.

Troilus Mine and Troilus North Claim Map, January 2019
Source:  Troilus Gold Technical Report by RPA dated January 1, 2019

Troilus Mine and Troilus North Property, November 2018
Source:  Troilus Gold Press Release dated November 28, 2018

Troilus Gold is 100% owner of Troilus North, subject to two underlying NSR royalties.  Emgold owns one of the royalties, a 1.0% NSR that can be acquired by Troilus Gold for C$1.0 million at any time.

The history of the ownership of the Property with regard to Emgold and Troilus Gold is as follows:

• On May 22, 2018, Emgold announced a Letter of Intent to enter into a definitive Option, Earn-in, and Joint Venture Agreement with Chimata Gold Corporation (TSXV:CAT) giving the Company options to acquire up to 100% interest in the Troilus North Property.
• On June 27, 2018, the Emgold announced it has received TSX Venture Exchange for the transaction.  Emgold assumed Chimata’s rights and obligations under and underlying Acquisition Agreement between Chimata and a group of underlying vendors (the “Vendors”).
• On August 13, Emgold announced the an amendment to the Option, Earn-in, and Joint Venture Agreement with Chimata to make a cash and share payment in lieu of future work commitments on the Property.
• On October 24, 2018, Emgold announced it had completed an Assignment Agreement with Chimata and the Vendors, assigning Chimata’s rights and obligations under the Acquisition Agreement to Emgold and Emgold exercised the underlying option with the Vendors.   The Vendors transferred the Troilus North claims into Emergent's name.  The Vendors retained a 1.5% NSR on the Property and Emgold, with Emgold having the option to acquire 0.5% (1/3^rd) of the NSR at any time by paying the Vendors C$0.5 million.
• On November 11, 2018, Emgold announced it had received TSX Venture Exchange approval to amend the Option, Earn-in, and Joint Venture Agreement and that it had exercised its options and acquired a 100% interest in the Troilus North Property.  At part of this transaction, Emgold assigned Chimata a 1.0% NSR on the Property, which Emgold retained the option to acquire 0.5% (1/2) of the NSR at any time for C$0.5 million.
• On November 28, 2018, the Company announced it had signed a Purchase and Sales Agreement with Troilus Gold Corporation to sell its 100% interest in Troilus North.  As a requirement of the transaction, Emgold and Chimata completed a Net Smelter Royalty Agreement whereby Emgold had the right to acquire Chimata’s 1.0% NSR for C$1.0 million at any time.  Emgold and the Vendors completed a second Net Smelter Royalty Agreement whereby Emgold had the option to acquire 1.0% of the NSR up to the date that is 24 months from the beginning of commercial production of precious metals from the Property for C$1.5 million and 1.5% for C$2.0 million.  Once the option period has lapsed, Emgold would have the right to acquire the 1.0% of the royalty for C$2.5 million and 1.5% for C$3.0 million.
• On December 5, 2018, the sale of Troilus North to Troilus Gold closed.  Troilus assumed the obligations for the royalty agreements with Chimata and the Vendors.  Emgold received C$250,000 in cash and 3.5 million TLG shares.
• On March 2^nd, 2020, Emgold announced it had acquired the rights to the Chimata 1% royalty from Chimata (now called CAT Strategic Metals).

The Property is located within the eastern segment of the Archean Frotet-Evans Greenstone Belt, in the Opatica Subprovince of the Superior Province in Quebec. The belt extends for more than 300 km between James Bay and Mistassini Lake, and varies from a few kilometres up to 45 km in width. The belt is divided into two similar volcano-sedimentary domains, west domain and east domain. The east domain is known as the Frotet-Troilus Domain and hosts the Troilus deposit. The Frotet-Troilus Domain is underlain by a supracrustal sequence of submarine mafic volcanic rocks with intercalated cogenetic mafic intrusions.

From west to east, the geology of the Property consists in migmatite with biotite gneiss of the Opatica sub-province, ultramafic pyroxenite/peridotite layer, felsic to intermediary tuffs, and banded mafic and basalt rocks with some felsic to intermediary tuffs and gabbro and the Parker granite. Most of the mineralized occurrences lie in the Volcanoclastic Suite units between the gneiss/migmatite units and the Parker Intrusive.

Geology of the Troilus Mine and Troilus North Property 
Source:  Troilus Gold Technical Report by RPA dated January 1, 2019

Airborne Magnetics Showing Distinct Magnetic Low Associated with Mineralization at Troilus and Along the Parker Pluton
Source:  Troilus Gold Press Release dated November 28, 2018

Emgold acquired the Casa South Property in 2018.  The Company completed a Technical Report and subsequently constructed a 25 km ATV road to access the Property and conducted exploration work including geologic mapping and rock chip sampling.

Emgold completed a Technical Report on the Property as part of the acquisition requirements required by the Toronto Venture Exchange.  The report is titled:  “Troilus North Property, Troilus-Frotet Volcano-Sedimentary Belt, Opatica Geological Sub-province, Quebec, Canada, prepared for Emgold Mining Corporation by Donald Théberge, P.Eng., MBA, with Effective Date October 10, 2018”.

Emgold Technical Report on Troilus North

Subsequent to acquiring the Troilus North Property, Troilus Gold completed a Technical Report on the Troilus Mine, which includes the Troilus North Property.  This report is titled “Technical Report on the Troilus Gold-Copper Mine, Mineral Resource Estimate, Quebec, Canada, Roscoe Postle Associates Inc (RPA), January 1, 2019” is available under Troilus Gold’s filing on www.sedar.com (the “Troilus Mine Technical Report”).

The Troilus Technical Report outlines an indicated mineral resource located at the Troilus Mine of 121.7 million tonnes containing 3.92 million gold equivalent ounces at 1.00 gram per tonne gold equivalent grade and an inferred resource of 36.1 million tonnes containing 1.17 million gold equivalent ounces at 1.17 gram per tonne gold equivalent grade.

Note that there are currently no mineral resources or reserves delineated on the Troilus North Property and the Property’s location adjacent to a past producing mine or other adjacent exploration properties such as Troilus Mine does not guarantee exploration success or that mineral resources or reserves will be delineated on the Troilus North Property.  

Troilus Gold Technical Report on Troilus Mine

The attached report is provided for information purposes and has not been verified by Emergent's geologist.

Mr. Robert Pease, CPG, acting as the Qualified Person for Emgold, has reviewed and approved the information on this webpage.

Technical Report for the Troilus North Property, Troilus-Frotet Volcano-Sedimentary Belt, Opatica Geological Sub-province, Quebec, Canada, prepared for Emgold Mining Corporation by Donald Théberge, P.Eng., MBA, with Effective Date October 10, 2018

Technical Report on the Troilus Gold-Copper Mine, Mineral Resource Estimate, Quebec, Canada completed by Roscoe Postle Associates Inc (RPA) dated January 1, 2019

Troilus Gold Corporation website.

Readers are cautioned to review the Disclaimer Page on this website for qualifications that may be applicable to the information contained on this Property Page, including forward looking statements, definitions of mineral resources and reserves, etc.  Readers are also cautions to review Emergent's financial statements and management’s discussion and analysis available on this website or at www.sedar.com for additional information.