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Troy Resources Ltd.
Summary
| Project: | Karouni | |
|---|---|---|
| Deposit: | Karouni | |
| Location: | Guyana | |
| Commodities: | Gold | |
| Date: | 9/2/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 2-9-2016: Troy Resources Ltd. announces a Resource Estimation report for its Karouni deposit at the Karouni project. Updated mineral resources and ore reserves for Karouni. Perth, Western Australia: Troy Resources Limited (ASX:TRY) has completed its annua | |
| Resources: | (Reserve, P+P): 3.015Mt @ 3.4g/t Au for 330200oz Au contained Karouni total | |
| CP/QP: | [Resources]: Richard Maddocks (Internal) | |
| ABSTRACT: | Perth, Western Australia: Troy Resources Limited (ASX:TRY) has completed its annual Mineral Resource and Ore Reserve Statement as of 30 June 2016. Open pit mining commenced in April 2015 and ore processing commenced in November 2015. As mining progressed in the Smarts pit, it became apparent that there were mineralised quartz veins at an orientation not previously recognised. These veins, commonly referred to as north-south veins, had not been included in the Mineral Resource estimate released on 28 July 2014. In parts of the Smarts pit mined during FY16, most notably Smarts Stage 2, these north-south veins contributed to a significant positive reconciliation. Consequently, drill intersections at depth beneath the Smarts pit, not previously included in the Mineral Resource estimate, were now able to be placed into a geological context with the knowledge gained from mining in the pits. In addition, an RC drilling program, recently completed in Stages 2 and 4, has increased the knowledge of the distribution and extent of these veins which enabled them to be included in the Mineral Resource inventory as Inferred Resources. The variable nature of the veins higher in the deposit, within the planned open pit designs, determines that Inferred is the appropriate category. The veins here are narrow, of variable thickness, from a few centimeters to tens of centimeters, and of variable strike length. Experience has shown that closer spaced grade control drilling is required to delineate mineable shapes around these veins. At depth, beneath the pits, drilling indicates that zones of north-south veins up to several meters in true width exist. There is sufficient drilling to estimate Inferred Resources on several of these vein sets and these too have been included in the Inferred category of the Mineral Resource Estimate. | |
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