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- Troy Resources (TRY) has provided an update on exploration activities conducted at its Karouni Gold Project over the June quarter
- Despite COVID-19 and the wet season, operations at its South America-based project have been able to continue
- Over 2.6 million tonnes of mining material were moved over the quarter, with ore representing 154,861 tonnes at an average of 1.47g/t of gold
- Troy recently recommenced diamond drilling targeting mineralisation beneath the Smarts Pit prospect
- Assays are already looking promising, and five out of eight holes have been drilled
- Additionally, Troy recently commenced an infill reverse circulation drilling program at the shallow, shear-hosted Goldstar prospect, aimed at upgrading the current mineral resource
- Troy’s shares are up 5.75 per cent and trading for 9.2 cents each
Troy Resources (TRY) has provided an update on exploration activities conducted over the June quarter.
Operations at Troy’s Karouni Gold Project in Guyana have been able to continue despite the increasing difficulties relating to COVID-19.
Specifically, the company has faced machinery availability issues with contractor equipment. This is mainly due to the wet season which calls for additional maintenance and impacts efficiency.
Over the June quarter, however, Troy reported a total of 2,606,733 tonnes were moved. Out of this, ore represented 154,861 tonnes at an average grade of 1.46g/t of gold.
Overall, Troy has so far been able to maintain a virus-free operation in Guyana and remains on track to rebuild production to pre-COVID-19 levels.
Smarts prospect
Troy is aiming to develop the Smarts prospect into an underground mining operation ever since intersecting several significant high-grade gold zones at depth.
Smarts Underground has an existing mineral resource of three million tonnes at 3.0g/t gold for approximately 290,000 ounces.
Mining studies have considered underground mining as part of early Karouni production profile. However, deeper infill diamond drilling indicated the geological interpretation was more complex than previously modelled.
As a result, Troy removed Smarts Underground from the production profile with plans to reinvigorate it once the Smarts Pit was mined and it gained a better geological knowledge of the deposit.
Troy recently recommenced diamond drilling targeting mineralisation beneath the Smarts Pit prospect.
Assays from the first hole drilled include 11 metres at 12.36g/t gold from 251 metres including three metres at 29.43g/t gold from 251 metres and eight metres at 15.50g/t gold from 290 metres including three metres at 39.07g/t gold from 290 metres.
So far, five out of eight planned holes have been drilled and further results will be released once they’re available.
Goldstar prospect
Troy has recently commenced an infill reverse circulation (RC) drilling program at the shallow, shear-hosted Goldstar prospect.
This drilling aims to improve the drilling density, currently based on 200 to 400 metre-spaced lines, and geological knowledge of Goldstar. Ultimately, Troy hopes to upgrade the existing mineral resource.
The prospect has a current mineral resource of 620,000 tonnes at 1.3g/t gold for 25,500 contained ounces.
At this stage, assay results have been returned from seven out of 35 holes drilled.
Outstanding results include; 17 metres at 2.21g/t gold from three metres, including four metres at 6.18g/t gold from five metres and six metres at 10g/t gold from 66 metres, including three metres at 19.58g/t gold from 66 metres.
Troy’s shares are up 5.75 per cent and trading for 9.2 cents each at 2:36 pm AEST.
