Troy Resources Limited (ASX: TRY) has announced the receipt of additional high-quality examination outcomes, from its conducted Phase 2 reverse circulation (RC) drilling campaigns, at the Ohio Creek Prospect in Guyana.
The Ohio Creek Exploration Area is situated on the extremely potential Tallman Corridor. It is around 10 Km North-North-East, of Try’s managed Karouni Mil.
The Phase 3 campaign is at present underway, and it includes step out and infilling current drill lines, and holes to comprehend the dispersal of high- quality ore. 39 RC holes are being intended for a collective 3,000 metres. The Phase 2 operation would also include diamond drilling, with a rig due on-site pending arrival in Guyana.
Important Phase 2 examination outcomes had been obtained from the 4 fresh holes. In the hole named TRCO59, mineralisation was experienced in 5 regions, noteworthy in 2 of them including: 5 metres @ 16.49 g/t Au from 44 metres and 1 metre @ 8.09 g/t Au from 86 metres.
In the hole named TRC064, mineralisation was detected in 5 areas which began at low depth, substantial in 4 of them comprising of: 2 metres @ 64.86 g/t Au from 15 metres, 1 metre @ 16.77 g/t Au from 26 metres ,10 metres @ 16.69 g/t Au from 90 metres and 2 metres @ 6.71 g/t Au from 105 metres.
TRC066 hole had noteworthy mineralisation, and in one zone, it was 4 metres @ 8.92 g/t Au from 60 metres.
Apart from the drillings, 2 bridges along the proposed haul route from the mill to Ohio Creek was concluded. The building of an exploration village has also begun, with lodging and office construction being readied and shifted to adjacent to the Ohio Creek Project to save commutation time among the camps.
On 7 November 2018, TRY notified excellent examination outcome obtained from its maiden, RC drilling program at Ohio Creek Prospect. The initial hole drilled (TRC001) was situated 200 metres to the North West of the Talliman Pi.
It gave a very hopeful outcome with a peak analysation of 1 metre at 93.78 g/t Au from 2 metres, beneath a wider connection of 16m @10.07g/t Au from 2 metres. Until then 23 holes had been drilled, with examination outcomes for 21 drill holes being obtained from them.
On 14 December 2018, the company declared receiving additional high- grade test consequence from its Phase 1 RC drilling initiative of another 12 holes at the Ohio Creek Prospect. Its Phase 1 RC drilling operation at Ohio Creek was concluded. The entire campaign was engaged with the 39 holes with each hole having a depth of 70 to 140 metres.
TRY further said that it has begun the Phase 2 RC drilling campaign at Ohio Creek with 14 holes drilled by then. The Phase 2 initiative included 23 holes of penetration among 75-120 metres to fill and analyse the construed North West extension of mineralisation.
On 1 February 2019, the company further notified that it had received a fresh, high-quality test outcome from its Phase 1 and Phase 2 RC drilling campaigns at the Ohio Creek Prospect. TRY was advancing with the Phase 2 drilling work, which was created to include 47 holes for a collective 4,364 metres, with examination outcomes for 20 holes. Important examination outcomes had been acquired from 3 new holes.
The stock of the company last traded 1% down at A$0.099 (as at 04 March 2019). The company has a market capitalisation of circa A$48.77 million with circa 487.41 million shares outstanding.
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