Development-stage mining company Troilus Gold has upsized its previously announced bought-deal offering to C$28-million.

The offering will now comprise 51.15-million units at C$0.35 each, 10.9-million traditional flow-through shares at C$0.405 a share and 8.6-million Quebec flow-through shares at C$0.42 each.

Troilus initially set out to raise C$22-million to fund exploration and development at its namesake project, in Quebec. A May 2024 feasibility study for the Troilus project – a past-producing mine – supports a large-scale, 50 000 t/d openpit mining operation.

While the primary mineral to be mined will be gold (5.4-million ounces of gold over a 22-year mine life), Troilus is currently the largest permitting stage copper project in Quebec and the third largest undeveloped copper project in the province, with projected average production of 17.3-million pounds a year of copper, or 381.8 million pounds of copper over an expected 22-year life-of-mine.

Meanwhile, Troilus has enhanced the renewable-energy capacity at its mining site with the installation of an alternative solar and wind energy generation system from Montreal-based Tugliq Energie.

The new system consists of 500 solar panels capable of generating up to 222.5 kWp, a wind turbine capable of generating up to 15 kWp, and a fully integrated and containerized control room. The electricity generated from solar and wind will supplement the existing connection to the renewable energy delivered to the Troilus site through the Hydro-Quebec grid and provide a backup source of energy in instances when the connection to the grid is compromised.

“Troilus already benefits from a 50 MW substation connected to the Hydro-Quebec grid which supplies sustainable, renewable energy through 107 km of 161 kVA dedicated transmission lines. However, as we prepare for the potential restart of the Troilus mine and our anticipated electricity demands, it is our intention to explore and develop a mix of sustainable energy solutions to supplement hydroelectric power. In collaboration with Tugliq, this new installation not only provides us with an on-site source of supplementary and back-up electricity but will provide important data to help us develop a reliable, sustainable and cost-efficient mix of energy as we work towards developing a carbon-neutral future at Troilus,” said CEO Justin Reid.

Tugliq delivered the plug-and-play system to Troilus earlier this month in three containers. Staff at site, assisted by workers from the Cree Nation of Mistissini and a supervisor from Tugliq, installed the anchors for the solar panels, erected the wind turbine and connected the system to the Troilus camp. The modular design is suitable for harsh climates and allows for quick deployment and scalability to meet future energy needs.

Additionally, Troilus and Tugliq have installed wind monitoring devices at the Troilus site to collect data on frequency and intensity of wind over the next 12 months. This data will help Troilus identify suitable locations for potential wind farm development. Initial surveys suggest that locations around the Troilus mine site could be capable of harnessing enough wind power to not only significantly contribute to Troilus’ future energy needs, but also become a supplier to the Hydro-Quebec grid.