Troy Resources Limited (ASX:TRY) has reported further assay results from drilling at the Gem Creek Prospect within its 100%-owned Karouni Gold Project in Guyana, with gold mineralisation identified over a strike length of 500 metres.
Key results include:
- GCRC129: 1m @ 7.5 g/t Au from 32m; 2m @ 1.85 g/t Au from 64m
- GCRC131: 6m @ 2.3 g/t Au from 19m
- GCRC133: 4m @ 3.83 g/t Au from 13m; 4m @ 3.74 g/t Au from 20m
- GCRC134: 3m @ 2.70 g/t Au from 61m
- GCRC136: 11m @ 2.73 g/t Au from 58m
- GCRC138: 5m @ 5.36 g/t Au from 40m
- GCRC144: 2m @ 8.32 g/t Au from 104m
Since mid-2020, the company has completed 160 RC drill holes over 6 kilometres of strike extent on the Goldstar – Gem Creek corridor. Troy had recently commenced a follow-up RC campaign which encompassed 44 holes, completed along 13 drill lines along a strike length of 700 metres, for an aggregate 3,539 metres. To date, assay results from 36 of the 44 holes have been returned, with the further 8 holes expected to be reported as soon as they are received and assessed. The Gem Creek Prospect remains open in all directions.
Karouni Gold project
The company’s 100%-owned Karouni Gold Project is located in Guyana, South America. In July 2013, the company acquired Azimuth Resources Limited which had discovered and delineated the Karouni Project. The company fast tracked development of Karouni with first gold produced in November 2015, and FY 2017 being the first full year of production.
Important targets within the Karouni project includes Gem Creek, Goldstar, Upper Itaki, Ohio Creek, Kaburi Hills, Mirror, Spearpoint, Hicks, and Larken.
Next steps
Troy reports that it is planning further infill drilling at-depth, along with extensional drilling, utilising both RC and diamond drilling.
Further work programs would include drilling, geological modelling, block modelling, and ultimately resource estimation depending on the results received.
“With 500 metres of mineralised strike length already established, this offers the potential for Gem Creek to represent a larger more-robust system”
Management comments
Troy Resources Managing Director Ken Nilsson said: “These early results from Gem Creek are encouraging. Whilst the grades we have received are not variously spectacular as for, say, Ohio Creek, we have seen at such prospects that establishing a mineable ore body from gold occurring predominantly in quartz veins (nugget effect) is problematic.
In contrast, at Gem Creek, where the major control on mineralisation seems to be the presence of a felsic intrusive host, mineralisation is more consistent over increased widths. With 500 metres of mineralised strike length already established, this offers the potential for Gem Creek to represent a larger more-robust system.”
Images: Troy Resources Limited