Troy Resources Limited (ASX: TRY) (Troy or the Company) is pleased to provide an update of drilling activities at the Smarts Underground Prospect, Karouni Project, Guyana.
As advised to shareholders in an announcement to the ASX on 8 September 2020, diamond drilling at the high-grade Smarts Underground target recommenced at around that time with a three-hole program designed to complete the work necessary to define an initial Ore Reserve.
On 6 October, Troy announced spectacular drilling results from the first hole (SDD188), the best results ever recorded by Troy at Smarts Underground, being: 1m @ 57.60 g/t Au from 221m and 3m @ 10.30 g/t Au from 261m and 13m @ 13.74 g/t Au from 273m; including: 2m @ 36.95 g/t Au from 273m, 2m @ 20.34 g/t Au from 277m, 1m @ 56.13 g/t Au from 284m
The Company is pleased to announce that the results from the second hole drilled (SDD189) are significantly better still and are world class in nature. The hole was drilled to a total depth of 449 metres, with first mineralisation commencing at the shallow depth of 28 metres and contains no less than 16 zones of anomalous gold mineralisation.
Of the many mineralised intersections within the hole, best ones include: 11m @ 131.93 g/t Au from 223m including: 4m @ 352.78 g/t Au from 224m, 1m @ 1,176.99 g/t Au from 225m, 14m @ 8.39 g/t Au from 248m, 6m @ 7.56 g/t Au from 209m, 2m @ 24.49 g/t Au from 141m, 25m @ 2.70 g/t Au from 171m
The first intersection noted above is significant in that it represents the highest metres x grams product (gram-metres) so far received at Smarts, exceeding the previously announced hole SDD188.
Troy has recently completed drill hole SDD190 for which assay results are pending. The Company is currently undertaking a program of three geotechnical holes to derive data for the purposes of underground design and optimal stope size assessment work. This world class drilling result is a step change for the Smarts Underground Prospect. Not only does it highlight the enormous exploration potential of Smarts Underground and the Karouni Project in general but demonstrates the significant potential to add high-grade ounces to the mining inventory and extend the mine life at Karouni.
Such has been the success of the recent infill drilling campaign at Smarts Underground, that Troy is now planning a step-out drill program along strike to the north-west. This will initially comprise nine diamond holes for an aggregate 1,500 metres. Further results will be reported as soon as they become available.
Mr Ken Nilsson, CEO and Managing Director of Troy, said today: 'Throughout my career, which has spanned multiple mining operations across multiple continents, I have only once previously been involved in the drilling of a hole with results anywhere near as spectacular as those from SDD189.
'Like me, Troy shareholders should look forward to receiving the maiden Ore Reserve calculation at Smarts Underground in the December Quarter with much anticipation.
'Smarts Underground certainly has the potential to make a significant financial impact on both the Karouni Project and the value of Troy.'
Contact:
Ken Nilsson
Tel: +61 8 9481 1277
Email: troy@troyres.com.au
TROY RESOURCES