Troy Resources drills further good news at Smarts

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THE DRILL SERGEANT: Troy Resources (ASX: TRY) has received results from an ongoing drilling program being conducted at the Smarts deposit within the company’s West Omai project in Guyana.

Recent infill Reverse Circulation drilling has been targeting the 1.7 kilometre Indicated Resource at the Main Zone within the 2.7km Smarts Inferred Resource, which Troy claims has continued to yield encouraging high-grade assay results.

Highlights include:

11 metres at 25.08 grams per tonne gold from 51 metres, including 8 metres at 34.05g/t gold from 51m;

4m at 43.35g/t gold from 93m;

3m at 24.84g/t gold from 48m;

3m at 21.93g/t gold from 86m;

4m at 17.66g/t gold from 67m;

12m at 5.48g/t gold from 46m;

5m at 15.94g/t gold from 47m; and

3m at 11.51g/t gold from 73m.

Troy currently has two Diamond Core rigs and one Reverse Circulation rig in operation focussed on infill Resource drilling at Smarts as well as drilling required for geotechnical and metallurgical studies.

Troy has completed 4372m (48 holes) out of a planned 5765m (61 holes) infill Resource drilling program at Smarts.

 

Smarts deposit – Infill Drilling significant results November 2013. Source: Company announcement

 

The company said the drilling has provided further confirmation as to the continuity of gold mineralisation within the existing Resource model.

“These drill results are from the Stage 3 Infill Program at the West Omai project in Guyana,” Troy Resources chief executive officer Paul Benson said in the company’s announcement to the Australian Securities Exchange.

“The aim of this program is simply to increase drill density in the Smarts deposit.

“As such, it is not intended to increase the number of ounces in the Resource, but improve our understanding of the mineralisation and increase the confidence levels of the Resource estimation.

“Having said that, it is obviously very exciting to see such high grades in the results so far.”

The company’s geologists, in conjunction with specialist consultants, have commenced a detailed study in order to improve understanding of the structural controls within the Smarts deposit.

Drilling is ongoing and a significant number of assay results are pending.

“Because the drill rigs are also undertaking project sterilisation and metallurgical test work, we don’t expect to complete the program, and a corresponding update to the Resource model, until the first quarter of 2014,” Benson said.

Email:
troy@troyres.com.au

Website:
www.troyres.com.au