- Gold explorer Troy Resources (TRY) has struck bonanza-grade gold at its Smarts Underground prospect in Guyana, South America
- Today’s results come from the second hole of a three-hole diamond drilling program at the prospect
- Assays have revealed an intersection of 11 metres grading 131.93 grams per tonne of gold
- This hit included a one-metre zone at a whopping 1176.99 grams per tonne of gold
- Based on the successful results, Troy is already planning a step-out drilling program along strike and to the north-west of the Smarts prospect
- Troy shares are up 50 per cent and worth 16 cents each
Gold explorer Troy Resources (TRY) has struck bonanza-grade gold at its Smarts Underground prospect in Guyana, South America.
The results come from a three-hole diamond drilling program at the prospect, which is part of Troy’s Karouni Project.
Last week, Troy revealed some stellar results from the first hole in the drilling program, which reported hits such as a one-metre intersection grading 57.6 grams per tonne of gold from 221 metres. At the time, Troy said it was the best-ever results from the Smarts prospect.
Today, however, that record has been blitzed, with Troy reporting even better results from the second hole of the three-hole program, dubbed SDD189.
The latest results include an 11-metre intersection at a whopping 131.93 grams per tonne of gold from 223 metres. This zone included a four-metre hit at 352.78 grams per tonne of gold from 224 metres and a one-metre hit at 1176.99 grams per tonne of gold from 225 metres.
Troy CEO and Managing Director Ken Nilsson said the Smarts Underground prospect has the potential to make a significant financial impact on both the Karouni Project and the company.
“Throughout my career, which has spanned multiple mining operations across multiple continents, I have only once previously been involved in the drilling of a hole with results anywhere near as spectacular as those from SDD189,” Ken said.
In fact, Troy said it is now planning a step-out drilling program along strike and to the north-west of Smarts thanks to the success of the recent drilling in the area. The plan is for this next drilling program to be made up of nine diamond holes for 1500 metres.
Assay results from the third hole of the recently-completed program are still pending.
“Like me, Troy shareholders should look forward to receiving the maiden ore reserve calculation at Smarts Underground in the December quarter with much anticipation,” Ken said.
Shareholders seem equally impressed with today’s outstanding results, with Troy shares up 50 per cent and worth 16 cents each at 11:43 am AEDT.