Troy Resources Ltd (ASX:TRY) has received high-grade gold results which indicate the potential for a substantial mineralised zone at the Spearpoint prospect of its operating Karouni project in Guyana.
The Spearpoint reverse circulation (RC) infill drilling program comprised 38 holes for a total of 2,509 metres.
The ongoing RC infill drilling at Larken prospect is also returning encouraging results.
At Spearpoint best intersections are 10 metres at 7.41 g/t gold from 45 metres; 4 metres at 4.72 g/t from 41 metres; 4 metres at 9.37 g/t from 30 metres; and 1 metre at 4.93 g/t from 23 metres.
“Mineable widths of high-grade gold”
Troy Resources managing director Ken Nilsson said all assay results from Spearpoint have now been received and collated.
Nilsson said: “They demonstrate the occurrence of a significant mineralised zone with mineable widths of high grade gold over approximately 400 metres of strike length with only one hole not recording any significant gold mineralisation.”
The company is beginning to prepare an initial mineral resource for Spearpoint and this is expected to take around two months to complete.
Visible gold in drill chips
Best intersections received to date from Larken include: 1 metre at 10.02 g/t gold from 43 metres; 5 metres at 4.53 g/t gold from 21 metres; and 5 metres at 3.57 g/t gold from 35 metres.
“At Larken, early results from the current program are also very encouraging with a number of additional quartz veins identified as well as what seems to be additional mineralisation with visible gold in some of the drill chips,” Nilsson said.
The Larken program has so far drilled 22 holes for a total of 1,221 metres and is expected to be complete by the end of July.