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Troy Resources Ltd.
Summary
| Project: | Karouni | |
|---|---|---|
| Deposit: | Karouni | |
| Location: | Guyana | |
| Commodities: | Gold-Silver | |
| Date: | 9/19/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 19-9-2018: Troy Resources Ltd. announces a Resource Estimation report for its Karouni deposit at the Karouni project. Updated mineral resource and ore reserve estimate in annual statement. Perth, Western Australia: Troy Resources Limited (ASX:TRY) (Troy o | |
| Resources: | (Reserve, P+P): 1.536Mt @ 2.43g/t Au for 119.8Koz Au contained | |
| CP/QP: | [Resources]: Richard Maddocks (Independent) | |
| ABSTRACT: | Perth, Western Australia: Troy Resources Limited (ASX:TRY) (Troy or the Company) has completed its annual Mineral Resource and Ore Reserve Statement as of 30 June 2018. The Karouni Resources and Reserve Statement for 30 June 2018 has been updated to take mining depletion into account and to include design changes at Smarts. In addition, Ore Reserves have been included for the first time for the Spearpoint deposit. Goldstar has also been included for the first time as an Inferred Mineral Resource. Larken is included for the first time as a Resource with an Ore Reserve in the process of being determined. Troy’s Mineral Resource and Ore Reserve Statement as of 30 June 2018 are as follows: Open pit mining commenced in April 2015 and ore processing commenced in November 2015. Mining progressed during the 2017-18 financial year in Smarts 3 and Smarts 4. The pit wall failure that occurred in Smarts 3 was fully rehabilitated and mining has taken place since October 2017 without interruption. The current Ore Reserve includes a cut-back to Smarts 3 to enable the pit to be deepened to exploit additional mineralisation. Mining progressed as per plan in Smarts 4 and this mining stage of the pit is scheduled to be completed to design during the current 2018-19 year. Mineral Resources are reported within a A$2,000 pit shell at a cut-off grade of 0.5g/t. Resources outside this pit shell are reported at a cut-off of 1g/t. The Ore Reserve cut-off is 0.86 g/t for the Smarts pits which is currently used as the in-pit cut-off. Figure 1 shows the ultimate Smarts design pits with all blocks greater than a 0.86 g/t cut-off remaining to be mined. Figure 2 shows the Smarts Deeps resource beneath the final pit design. The resources outside the Smarts pit are reported at a 1.0 g/t cut-off grade and are referred to as the Smarts Deeps resource. | |
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