Troy Resources Limited

Description

Troy Resources Limited (ASX:TRY) is a gold explorer and producer, having its operations in South America and Australia. Troy operates Karouni Gold Project in Guyana. Karouni has greenfield as well as brownfield potential, and the Company is actively pursuing both objectives simultaneously.

Within the first 12 years of operations, Troy has successfully developed five mining operations with a key focus on Karouni Gold Project. The Karouni tenement is spread over 849 square kilometres of area in the prospective Guiana Shield of the Proterozoic Greenstone belt.

To achieve the low-cost operation’s objective, Troy operates a gold processing plant at Karouni Project, having a yearly capacity of one million tonnes of ores. The Karouni Mill boasts gold metallurgical recovery in excess of 95%.

Based on June 2020 resource data, Troy holds a mineral resource of 16Mt @2.0g/t Au for 1,007-kilo ounces of gold and Ore Reserve of 1.1Mt @ 2.1g/t Au for 77-kilo ounces.

To further increase its gold footprint at Karouni, Troy added a highly prospective tenement to its portfolio through three successful deals with Guyanese vendors. The tenements lie along Makaba-Kuribrong Shear Zone (MKSZ) and a strike stretched over 10 km passes within the major shear zone in the Guiana Shield. Field mapping and sampling programs on the newly acquired tenements during the years 2019 and 2020 had confirmed the presence of a shear zone. The rock samples had returned gold mineralisation up to 2.87g/t.

The Company has extensive exploration and drilling plans for its prospects at Karouni Project. The drilling campaigns carried on the project had revealed significant potential for gold mineralisation, and follow up drilling is planned on identified targets. This will increase the potential for possible resource upgrade on the project.