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Troy Resources Ltd.
Summary
| Project: | Karouni | |
|---|---|---|
| Deposit: | Karouni | |
| Location: | Guyana | |
| Commodities: | Gold | |
| Date: | 1/23/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 23-1-2017: Troy Resources Ltd. announces an Exploration/Drilling Update report for its Karouni deposit at the Karouni project. Drilling results incl. 29m @ 1.65g/t Au from 91m. Troy Resources Limited (ASX: TRY) (Troy or the Company) is pleased to provide | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Peter Doyle (Internal) | |
| ABSTRACT: | Troy Resources Limited (ASX: TRY) (Troy or the Company) is pleased to provide an update on its framework drilling program that has been progressing at Karouni. The recent focus of the Company's exploration “RC” drilling program has been framework testing of the Mirror and Goldstar targets both located within a 10 kilometre radius of the Karouni plant. In December a second rig was added to the program and commenced testing the Smarts Shear Zone southeast of the Hicks 3 Pit within the Hicks SE Target (see Figure 1). These targets, along with drilling planned for Dominica Shear, comprise the initial phase of the Brownfields exploration effort at Karouni. Drilling for this period totalled 100 holes completed for 8,055m. The key outcome being the Identification of “Hot Spots” within current Brownfields targets that warrant infill drilling as potential resource targets. Both rigs are currently operating at the Dominica Shear target where first pass drilling, consisting of 6 north-south lines over an 8km strike length, has commenced. The majority of our recent drilling has been focussed on testing Goldstar, a laterite, saprolite and sand covered 10km zone underlain by a MgO “High Chrome” Basalt Corridor with outcropping quartz veins and significant alluvial workings. Prior to recent drilling, the “High Chrome” target was completely untested. A strong regional shear with anomalous gold in the favourable host rocks with the expected quartz-carbonate veining and associated pyrite alteration has been delineated in this wide spaced “First Pass” program. Follow-up drilling is being planned to better define anomalous trends. | |
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