Healthy gold, bonanza silver drilling at Troy's Argentinean project
The Australian gold miner that also holds gold and iron ore assets has an important new target at its Casposa gold-silver project in Argentina.
Posted: Wednesday , 27 Apr 2011
Troy Resources NL (ASX & TSX: TRY) disclosed today that follow up drilling on the Kamila South East zone produced more significant results from the high grade Inca Vein.
An earlier assay produced 14.7 metres grading 7.79 grams/tonne gold and 1,292 g/t silver (26.24 g/t Au equivalent), and subsequent drilling produced more positive results.
This included Hole CA11-297 with 1.9m @ 6.36 g/t Au and 1,470 g/t Ag, including 0.8m @ 14.23 g/t Ag and 3,379 g/t Ag; and CA11-300 with 1.35m @ 3.46 g/t Au and 2,266 g/t Ag. Followed by 5.4m @ 8.18 g/t Au and 2,607 g/t Ag.
Chief executive Paul Benson said these new intercepts are outside the existing mineral resource and mining reserve and south east of the second post mineral rhyolite dyke within the Kamila SE target that represents an extension to known mineralisation.
He said these are very significant and exciting results for Troy as these intercepts support the earlier high grade initercept.
"Being less than 500 metres laterally from the existing Kamila underground reserves, the areas could be easily accessed by underground development," Benson said.
The focus of future drilling will be to define the high-grade vein zones along strike and at depth.
In South America, Troy has two producing gold operations - the Andorinhas mine in Brazil's Para State and Casposa in Argentina's San Juan Province.
The 100% owned Casposa project poured its first gold last November.
Late last year Troy mothballed its Sandstone gold mine in Western Australia's Murchison field but retains an exploration profile in that region and active exploration and joint ventures for nickel in Western Australia.