Troilus Gold Corp. acquires Troilus property from First Quantum Minerals Ltd.
April 12, 2018
On April 12, 2018, Troilus Gold Corp. announced that it has exercised its option to acquire the Troilus property ("Troilus Gold Project") from First Quantum Minerals Ltd. To exercise the option, Troilus Gold made three cash payments of C$100,000 to First Quantum, in addition to spending over C$1 million on engineering and technical studies to determine the economic viability of the project. Troilus Gold also agreed to take on the existing liabilities of the Troilus Gold Project.
Troilus Gold, based in Toronto, is a development stage resource company focusing on the potential restart and mineral expansion of the 4,700 hectare, Troilus Gold Project. The Troilus property is located Northeast of the Val-d’Or district, in Quebec and was operated by Inmet Mining Corporation before being bought by First Quantum.
McCarthy Tétrault LLP advised Troilus Gold with a team led by Dominique Amyot-Bilodeau and Pierre Langlois that included Karina Gagnon and Bianca Déprés (Business), Danielle Drolet and Danielle Gagnon (Real Property and Planning), and Jacques Rousse (Labour and Employment).