- Troy Resource (TRY) reports ‘encouraging’ results from exploration at the Gem Creek Prospect at its wholly owned Karouni Gold Project in Guyana
- A recent reverse circulation campaign returned results including one metre at 7.5 grams of gold per tonne (g/t) from 32 metres
- Gold mineralisation was identified along 500 metres of strike, remaining open both to the north and south, as well as at depth
- While assay results are still pending for a further eight reverse circulation holes, TRY has plans for further infill, at-depth and extensional drilling
- Troy Resources was up 1.18 per cent, trading at 4.3 cents at 11:25 am AEST
Troy Resource (TRY) has reported ‘encouraging’ results from exploration at the Gem Creek Prospect at its wholly owned Karouni Gold Project in Guyana.
Since starting in mid-2020, Troy has completed 160 reverse circulation drill holes at Gem Creek and over six kilometres of strike on the Goldstar and Gem Creek corridor.
A follow up reverse circulation campaign recently began, with the holes planned to intersect the upper contact between a mafic volcanic to volcanoclastic unit and the younger sediments. The campaign encompassed 44 holes along a strike length of 700 metres, with 3,539 metres drilled.
Best results from the program included one metre at 7.5g/t gold from 32 metres. Gold mineralisation was identified along 500 metres of strike, remaining open both to the north and south, as well as at depth.
Alteration was weak in the mafic contact zone, with gold related to quartz veining.
“These early results from Gem Creek are encouraging,” Managing Director Ken Nilsson said.
“With 500 metres of mineralised strike length already established, this offers the potential for Gem Creek to represent a larger more-robust system.”
Assay results are still pending for a further eight reverse circulation holes.
The company said further infill, at-depth and extensional work has been planned based on these results, involving both reverse circulation and diamond drilling.
Troy Resources was up 1.18 per cent, trading at 4.3 cents at 10:40 am AEST.