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Troy Resources Ltd.
Summary
| Project: | Karouni | |
|---|---|---|
| Deposit: | Karouni | |
| Location: | Guyana | |
| Commodities: | Gold | |
| Date: | 10/24/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 24-10-2017: Troy Resources Ltd. announces a Resource Estimation report for its Karouni deposit at the Karouni project. Mineral Resource and Ore Reseve update. Perth, Western Australia: Troy Resources Limited (ASX:TRY) (Troy or the Company) has completed i | |
| Resources: | Reserve, P+P): 2.94Mt @ 2.22g/t Au for 210Koz Au contained at Karouni | |
| CP/QP: | [Resources]: A.E Olson (Internal) | |
| 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 2017 which are detailed below. The Karouni Resources and Reserve Statement for 30 June 2017 has been developed based on the first full year of operational experience, additional drill hole assays and detailed geological mapping which has been used to construct a new geostatistical model which better reflects actual results. The main variation in this new model applies to the Smarts orebodies which exhibits major differences as compared to the original 2014 ore body model. It is considered that the new model for Smarts is more reliable, with higher accuracy and better predictability in terms of inventory, but has resulted in a downgrading of reserves of the Smarts orebodies. Past and current mining results show a closer relationship with the new model and point to being of higher accuracy. The model for the Hicks orebody remains unchanged from last year and mining is correlating well to the model. The current Ore Reserve takes mine life out until 2020 with further work on identifying and testing targets aimed at increasing mineable reserves and hence mine life. Overall, the change to Resources and Reserves has primarily been from a decrease in attributed grade rather than a loss of tonnes. This grade differential is a factor of more drilling, the first full year of operational experience and then the application of the new geological model. | |
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