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Sulliden Enters into Option Agreement with First Quantum to Acquire Past-Producing Troilus Gold Mine
Sulliden Enters into Option Agreement with First Quantum to Acquire Past-Producing Troilus...
About this update from Future Mineral Resources Inc.
[{"type":"text","content":"\n\n\n\nSulliden Enters into Option Agreement with First Quantum to Acquire Past-Producing Troilus Gold Mine\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nSulliden Enters into Option Agreement with First Quantum to Acquire Past-Producing Troilus Gold Mine\nCanada NewsWire\nTORONTO, May 2, 2016\n\n\n\nTORONTO, May 2, 2016 /CNW/ - Sulliden Mining Capital Inc. (\"Sulliden\" or the \"Company\") (TSX: SMC) has entered into an option arrangement with First Quantum Minerals Ltd. (\"First Quantum\") to acquire the past-producing Troilus Mine, located in the Abitibi mining region of Quebec, Canada.\n\nJustin Reid, CEO and director of Sulliden, commented, \"This agreement is a step towards our strategy of building a portfolio of mining projects alongside our portfolio of investments.  For over two years, we have been actively evaluating and visiting projects in the Americas in search of the right opportunity, and we believe there to be potential value in the Troilus Project.\"\n\nPeter Tagliamonte, Executive Director of Sulliden, commented, \"We have been reviewing the potential of the Troilus project and after thorough due diligence by our technical team, we look forward to moving ahead with more detailed engineering studies.  It is our belief that this project has good mine development potential and exploration potential in a friendly mining jurisdiction.\" \n\nSulliden has engaged Roscoe Postle Associates Inc. (\"RPA\") to complete an updated mineral resource estimate for Troilus based on the high quality historical drill data of the project.  The Company looks forward to announcing these results within the coming month, before moving ahead with engineering and technical studies to evaluate the economic viability of the project. \n\nOption Agreement\n\nA wholly owned subsidiary of Sulliden has entered into a two-year option agreement with First Quantum with respect to the Troilus Mine.\n\nAs a result of the arrangements, Sulliden will hold a two-year option to purchase a 100% interest in the Troilus Mine.  To exercise the option under the First Quantum agr...