16 April 2008 PRESS RELEASE
Drilling At Indomitable Prospect, Sandstone, Intersects Broad Zones of Oxide Gold Mineralisation within Weathered Bedrock
PERTH, Western Australia: Troy Resources NL (“Troy”) (TSX: TRY; ASX: TRY) advises that forty-eight Reverse Circulation drill holes (5,394m) and one Diamond Core hole from an RC precollar have been completed at the Indomitable Prospect located 12km ENE of the Sandstone Mill. The program was focussed on the Indomitable North and South (see Collar Location Plan) below.
At Indomitable South assays have identified broad zones of low grade gold mineralisation. Significant 5m composite assays include:
•
35m @ 1.47 g/t gold from 45m in TRC674;
•
10m @ 6.24 g/t gold from 130m in TRC681 and
•
25m @ 1.12 g/t gold from 60m in TRC678
This phase of drilling has shown that mineralisation occurs along a northwest striking trend and remains open along strike to the northwest. Full results of Indomitable South are contained in Table 1 below.
Diamond core hole TRCD728 was drilled from a precollar depth of 93.7m to 191.9m targeting an interpreted “higher grade” central portion of the prospect at depth. The hole remained entirely within weathered profile and zones of quartz veining and brecciation were intersected throughout the hole. The core is being cut, sampled and will be submitted for assay.
At Indomitable North located 300m north of Indomitable South, 20 RC holes were completed on a 20m x 40m grid to test the north – south striking mineralisation intersected in TRC583 drilled last year. Wide zones of quartz veined, gossanous saprock, intense silica-fuchsite altered saprock and silica-fuchsite-arsenopyrite altered fresh basalt were intersected over the 160m strike length tested. Assays received to date include:
•
7m @ 1.18g/t gold from 6m in TRC690;
•
6m @ 8.34g/t gold from 59m in TRC691; and
•
10m @4.48g/t gold from 90m in TRC734
Full results for Indomitable North are contained in Table 2 below.
A large number of 5 metre composite and 1 metre re-split assays are still pending from both the Indomitable South and North drilling program.
Registered Office: C/- Hayes Knight Melbourne, Level 6, 31 Queen Street, Melbourne Victoria 3000
Troy’s CEO Paul Benson said “This is the second set of interesting results to come out of Sandstone this month. This drilling of the Indomitable targets, and results from the Two Mile Prospect published on April 9, are part of our programme designed to test the potential of the Sandstone leases to determine if it is possible to extend the operations life.”
“We are still waiting for the 1 metre-split assays for Indomitable, the results for the remainder of the first diamond drill hole and the entire length of the second diamond drill hole at Two Mile. Once we have all that data we will be able to determine if a second phase is required.”
“Although still early days, it is pleasing to see we are within a significant mineral system. Obviously our aim from here will be to prove continuity of any of the high grade intercepts”
Table 1: Sandstone Project
Indomitable South Reverse Circulation "RC" Drilling
Drill Assay Results - Gold Intersections >1.0g/t Gold
Hole
MGA
Easting
MGA
Northing
Gold
ID
(m)
(m)
(g/t)
Azimuth
MGA
Dip
Depth (m)
From (m)
To (m)
Length (m)
Au
TRC669
733280
6892230
090
-60
65.0
43.0
45.0
2.0
2.72
TRC673
733240
6892250
090
-60
87.0
40.0
48.0
8.0
1.23
TRC674
733200
6892250
090
-60
127.0
45.0
80.0
35.0*
1.47
TRC678
733199
6892280
090
-60
119.0
60.0
85.0
25.0*
1.12
TRC681
733191
6892310
090
-60
156.0
115.0
156.0
41.0*
1.91
including
130.0
140.0
10.0*
6.24
TRC682
733300
6892340
090
-60
96.0
55.0
60.0
5.0*
1.28
TRC729
733120
6892341
090
-60
130.0
40.0
125.0
85.0*
1.01
*denotes 5m composite sample
Registered Office: C/- Hayes Knight Melbourne, Level 6, 31 Queen Street, Melbourne Victoria 3000
Registered Office: C/- Hayes Knight Melbourne, Level 6, 31 Queen Street, Melbourne Victoria 3000
Table 2: Sandstone Project
Indomitable North Reverse Circulation "RC" Drilling
Drill Assay Results - Gold Intersections > 1g/t Gold
Hole
MGA
Easting
MGA
Northing
Gold
ID
(m)
(m)
(g/t)
Azimuth
MGA
Dip
Depth (m)
From (m)
To
(m)
Length (m)
Au
TRC690
733307
6892613
090
-60
88.0
6.0
13.0
7.0
1.18
including
8.0
10.0
2.0
2.69
TRC691
733267
6892614
090
-60
106.0
9.0
11.0
2.0
2.01
38.0
39.0
1.0
13.60
52.0
55.0
3.0
1.21
59.0
65.0
6.0
8.34
TRC693
733308
6892651
090
-60
66
7.0
10.0
3.0
1.79
TRC733
733270
6892572
090
-60
130
85.0
90.0
5.0*
1.17
TRC734
733309
6892572
090
-60
124
90.0
100.0
10.0*
4.48
*denotes 5m composite sample
All samples were prepared and assayed by SGS Mineral Services laboratory in Perth, Western Australia using Method FAA505 being Fire Assay on a 50 gram charge with an AAS finish.
The Company is unable to estimate true width as this is the first drill hole into this target. All widths stated are downhole widths.
For further information please contact:
Mr Paul Benson
CEO - Troy Resources NL
Tel: (618) 9481 1277
E: troy@troyres.com.au
Information of a scientific or technical nature in this report was prepared under the supervision of Peter J. Doyle, Vice President Exploration and Business Development of Troy, a “qualified person” under National Instrument 43-101 – “Standards of Disclosure for Mineral Projects”, a member of the Australasian Institute of Mining and Metallurgy. Mr. Doyle has sufficient experience, which is relevant to the style of mineralization and type of deposit under consideration, and to the activity he is undertaking, to qualify as a “competent person” as defined in the 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Doyle has reviewed and approved the information contained in this report. For further information regarding the Sandstone project, including a description of Troy’s quality assurance program, quality control measures, the geology, samples collected and testing procedures in respect of the Sandstone project please refer to the technical report entitled Troy Resources NL: Sandstone Gold project, Mid West Region Western Australia” dated June 2007, which is available under the Company’s profile at www.sedar.com.
This report contains forward-looking statements. These forward-looking statements reflect management’s current beliefs based on information currently available to management and are based on what management believes to be reasonable assumptions. A number of factors could cause actual results, performance, or achievements to differ materially from the results expressed or implied in the forward looking statements. Such factors include, among others, future prices of gold, the actual results of current production, development and/or exploration activities, changes in project parameters as plans continue to be refined, variations in ore grade or recovery rates, plant and/or equipment failure, delays in obtaining governmental approvals or in the commencement of operations.
For purposes of Clause 3.4(e) in Canadian Instrument 43-101, the company warrants that Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.
