Troy Resources flags outstanding first-pass assay results from the company’s first reverse circulation drilling program at Ohio Creek Prospect recently acquired in Guyana.
On 12 September 2018, the company announced the acquisition of Ohio Creek Prospect, located on the highly prospective Tallman Shear Corridor approximately 10 kilometers north-north-east from Troy’s operating Karouni Mill in Guyana.
Moreover, the company has recently started the 47-holde RC drilling program with proposed depths of between 70 and 140 metres. The drilling is intended to test the anomalous historical gold intercepts in the north west and south east extension of the mapped shear zone in the Tallman Pit.
Gold mineralisation is associated with an interpreted north west trending shear zone and strong quartz veining in the weathered saprolite profile. To date the company has completed the drilling of 23 holes at Ohio with assay results for 21 drill holes received.
The first hole drilled in the the north west of the Tallman Pit has returned significant results with a peak assay of 1 meter at 93.78 g/t gold from 2 metres within a broader intersection of 16m @ 10.07g/t gold from 2 metres. Three further holes were drilled on the same section to test for additional structures. Minor quartz veining was intersected in TRC002 and TRC003, but only low gold values were returned.
It has been informed that the company plans for additional holes to test the up-dip potential of the mineralized zone in TRC001. These additional holes, about 180 metres along strike to the north west of the Tallman Pit are reported to be drilled as soon as possible to focus on the test for extensions to the high-grade gold mineralization in TRC001. Currently, the mineralisation is said to remain underway towards the north west and at depth.
Further, the company has drilled hole TRC013 about 100 metres in strike extension to the south east of TRC001. It returned significant mineralisation with an intersection of 9 metres @ 40.52 g/t Au from 89 metres, including 6 metres @ 60.1 g/t from 89 metres.
In the rock chips of TRC013 the company observed yellow mineralized zone in silica altered intrusive with visible gold in milky white quartz fragments. The company told that an additional RC hole is planned about 20 metres off the section line to the north which will test the down dip extension of the mineralized zone in TRC013. Further it has been stated that if the drilling and sample quality allows, the hole will be extended to ensure the potential mineralized zone is properly tested.
With this update, the share price of Troy Resources Limited (ASX: TRY) jumped up 4.348% to close at $0.120 on 8 November 2018. The stock has seen a performance change of +15% over the past one year.
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