Troy Resources (ASX:TRY) strikes more gold at flagship Karouni project

  • November 13, 2020 07:51 PM AEDT
  • Team Kalkine
Troy Resources (ASX:TRY) strikes more gold at flagship Karouni project

Summary

  • Assay results for final 2 drill holes of the Smarts Underground Ore Reserve definition program returned high-grade gold intercepts with grade up to 12.98 g/t gold
  • Updated Resource and initial Reserve estimation is expected during the December quarter
  • 9-hole drilling program is ongoing at Smarts NW to test the north-west extension of the mineralisation at Smarts
  • Surface trench sampling at Goldstar intersects 3.27 g/t gold
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Gold miner, Troy Resources Limited (ASX:TRY) has provided another shimmering update on its exploration activities at the flagship Karouni Project in Guyana.

Smarts Underground Ore Reserve definition

Subsequent to announcing the results for the diamond drill holes SDD183 to SDD189 which intersected High grade gold mineralisation, Troy released the assay results for the final 2 drill holes (SDD191 and SDD192). The miner has completed the infill at the Smarts underground prospect and all assay results have been released.

The 2 drill holes targeted the extremities of the known mineralisation with an anticipation to intercept only minimal mineralisation than the received assay results from the recent drilling program.

Best Intersection from the Drilling program Image: Kalkine Group 2020 Source:Troy Resources ASX Update 13 November 2020

The two holes were drilled along the southern and northern boundaries of the Smarts-Hicks Shear and not along the primary mineralized zone. However, they resulted in intersections with high grade gold mineralisation. The shear zone comprises an array of smaller, internal shears which control the position, distribution and tenor of the gold mineralisation.

SDD191 – The drill hole tested the zone above the step-over of the Smarts-Hicks shear zone, which comprises of sediments and andesite. The upper portion of the drill hole intersected the upper sections of basalt and TiO dolerites which at depth host the gold mineralisation.

SDD192 – The drill hole tested the extensions of the primary mineralisation within the hanging wall shear and outside. The results display that basalts and TiO dolerites host the gold mineralisation at deeper sections.

Source:Troy Resources ASX Update 13 November 2020

The diamond drilling was completed at the Smarts Underground to estimate and upgrade the Mineral Resource and maiden Ore Reserve which is scheduled for completion during the December quarter.

Additionally, Troy has also completed the 3 geotechnical hole (SDD190, SDD193 and SDD194), which were designed to facilitate the planning of portal and decline location and assist in stope design. The hole SDD190 intersected visible gold sections and the samples have been submitted for assaying following the completion of the geotechnical studies.

Must Read: Troy (ASX:TRY) strikes gold mineralisation with grade up to 1,176.99 g/t

Infill drilling campaign at Smarts NW

The successful completion of the infill drilling campaign at the Smarts Underground encourages the company to undertake 1,500 metres 9-hole diamond drilling program along the strike north-west of the Smarts Underground, often referred as Smarts NW.

Smarts NW along Smarts-Hicks Shear Source:Troy Resources ASX Update 13 November 2020

The drill program focused on the infill high-grade intersections from the historical drilling programs on the main Smarts-Hicks Shear. The best intersections include:

  • 14 m @ 8.39 g/t Au
  • 4 m @ 15.37 g/t Au
  • 11 m @ 5.03 g/t Au
  • 8 m @ 6.00 g/t Au

 

The mineralisation at Smarts NW is included in the Mineral Resource estimate as Inferred resources. In case the additional drilling is successful, it may confirm the continuity of the mineralisation and the presence of another high-grade mineralised zone similar to the Smarts Underground.

Read Here: Troy intercepts high-grade gold mineralisation at Smarts Underground

 

SDD196 exihibiting strong silica+albite alteration, coarse pyrite and visible gold Source: Troy Resources ASX Update 13 November 2020

The new campaign began at the Smarts NW almost a week ago, so far Troy has already completed drilling at the holes SDD195 and SDD196 and nears completion at the SDD197. The samples from the two completed holes have already been sent for evaluation. It is to be noted that all drill holes so far have intersected the main shear zone at the expected location.

Must Read: Troy releases 2020 Reserves & Resources, Exploration at Ohio Creek and Goldstar in Q4

High-grade intersection at Goldstar

The infill drilling on the north-west section of the Goldstar Prospect returned numerous high-grade intersections including:

  • GRC183 - 17 metres with 2.21 g/t Au from 3 metres (includes 4 metres with 6.18 g/t Au)
  • GRC179 - 6 metres with 10.0 g/t Au from 66 metres (includes 3 metres with 19.58 g/t Au)

 

The company has already conducted a follow-up campaign of 7 trench with the results for 6 already out. The best intersections are-

  • GTR001: 13 metres with 3.27g/t Au
  • GTR002: 7 metres with 2.89 g/t Au and 10 m with 1.01g/t Au
  • GTR004: 8 m with 2.99 g/t Au

Historical drill collars and trenches at the Goldstar Prospect Source: Troy Resources ASX Update 13 November 2020

The trench results confirm gold mineralisation within a zone of true width 8 to 13 metres virtually at surface. The trench samples also confirmed the continuity of mineralisation. Further, exploration steps at Goldstar includes-

  • Additional trenches to intersect shallow mineralisation
  • Additional RC infill drilling to decrease drill hole spacing for the new resource modelling
  • 4 diamond drill holes to check the plunge and dip of the mineralised veins/ orebodies

Troy Resources closed the day at A$0.1 per share on 13 November 2020.

Suggested Reading: Troy Resources (ASX:TRY) reports Production update, Reiterates Gold production target of 35,000-40,000 ounces in FY21

 

 


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