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TROY Resources Limited, the Australian mining company conducting explorations in the Region 7 (Cuyuni/Mazaruni) West Omai area, has announced indications that its Smarts deposits at 442,000 ounces of gold and inferred deposits as 621.000 ounces.
Those estimates along with an inferred resource of 571,000 ounces at its Hicks deposit take the total indicated, up to now, to 1.6 million ounces, Troy disclosed last week.
The company’s Chief Executive Officer (CEO), Mr. Paul Benson said: “As previously announced, the drill campaign was designed to increase the confidence levels of the resource estimate. The programme focused on the high grade core of the Smarts Deposit and we are very pleased that it confirmed the quality and tenor of the mineralisation.”
He said that the latest update moves approximately 44 percent of the ounces contained in the Smarts Deposit from the inferred to indicated category (from a low level of confidence to a higher level).
Inferred mineral resources are that part of an investigation for which tonnage, grade and mineral content can be estimated but with a low level of confidence.
The indicated resources are upgraded inferred ones and Troy’s recently completed drilling, at Smarts, had the focus on about one kilometre of the 2.5 kilometres strike length of the deposit.
The programme consisted of 62 holes for a total of 8,777 metres of drilling and included both reverse circulation and diamond core types.
Those exercises confirmed the grade and continuity of the mineralisation in the central portion of the deposit and Benson said his company has also commenced planning the next stage of the programme at Smarts, to further increase the proportion of resources in the indicated category.
“We are already well advanced with the programme for infill drilling in the higher grade zone of the Hicks Deposit. We expect to release the results from that programme in the December quarter,” he stated.
Those estimates along with an inferred resource of 571,000 ounces at its Hicks deposit take the total indicated, up to now, to 1.6 million ounces, Troy disclosed last week.
The company’s Chief Executive Officer (CEO), Mr. Paul Benson said: “As previously announced, the drill campaign was designed to increase the confidence levels of the resource estimate. The programme focused on the high grade core of the Smarts Deposit and we are very pleased that it confirmed the quality and tenor of the mineralisation.”
He said that the latest update moves approximately 44 percent of the ounces contained in the Smarts Deposit from the inferred to indicated category (from a low level of confidence to a higher level).
Inferred mineral resources are that part of an investigation for which tonnage, grade and mineral content can be estimated but with a low level of confidence.
The indicated resources are upgraded inferred ones and Troy’s recently completed drilling, at Smarts, had the focus on about one kilometre of the 2.5 kilometres strike length of the deposit.
The programme consisted of 62 holes for a total of 8,777 metres of drilling and included both reverse circulation and diamond core types.
Those exercises confirmed the grade and continuity of the mineralisation in the central portion of the deposit and Benson said his company has also commenced planning the next stage of the programme at Smarts, to further increase the proportion of resources in the indicated category.
“We are already well advanced with the programme for infill drilling in the higher grade zone of the Hicks Deposit. We expect to release the results from that programme in the December quarter,” he stated.
