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This blog was created to publish news on argentinean mining, thus complementing our website and presence in social networks. As all of our activities, it intends to connect the mining community in Argentina and provide a place to promote the activity in the world, developing business opportunities.

2 ago. 2011

Troy Resources NL: Kamila Southeast Target Drilling Update-More High Grade Results


PERTH, WESTERN AUSTRAILA--(Marketwire - Aug. 1, 2011) - Troy Resources NL (TSX:TRY)(ASX:TRY) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES



* Drilling at the new Kamila Southeast Zone continues to produce encouraging high-grade gold-silver values:
o Hole CA-11-318 reported an interval of 8.25m at 8.33g/t gold and 817.8g/t silver or 20.02g/t Au_eq from 342.15m, downhole;
o Hole CA-11-323 produced an interval of 9.00m at 10.98g/t gold and 1320g/t silver or 29.84g/t Au_eq from 289.00m, downhole;
o Hole CA-11-325 returned an interval of 3.65m at 2.32g/t gold and 850g/t silver or 14.47g/t Au_eq from 302.50m, downhole;
o Hole CA-11-326 returned an interval of 11.2m at 2.66g/t gold and 539.98g/t silver or 10.37g/t Au_eq from 341.5m downhole.
* Mineralised zone remains open along strike, as well as up and down dip;
* Two rigs continue program of infill holes and step-outs to delineate mineralised zone within Inca Vein;
* Resource Estimate will be completed later in this quarter.

Troy Resources NL ("Troy") is pleased to announce further assay results from recently completed drilling at the Company's flagship Casposo gold and silver mine in San Juan, Argentina, which further delineate the new Kamila Southeast high grade gold-silver zone along strike and to the southeast of the existing Kamila Reserve.

Chief Executive Officer, Paul Benson said: "This recent drilling at Kamila Southeast has confirmed that we have one larger central high grade mineralised zone centred on holes CA-11-295 and CA-11-306 with a smaller second high grade shoot to the northwest defined by the CA-11-297 intercept. Additional Drilling is required to fill a drilling gap between the two.

"We remain on track to complete a Resource Estimate for this zone in this quarter and if the current delineation drilling is positive, a Mining Reserve by the end of the calendar year. Our objective then will be to determine if we can commence underground development earlier than currently planned. This would maintain production at higher levels and extend the mine life.

"Later in August we will reassign one of the rigs to recommence step-out drilling at Kamila Southeast beyond the current 400m long zone and test the remaining 1 kilometre of strike to the southeast."

Mr Benson said the man-portable drill has been repositioned and has commenced drilling on the one kilometre long outcropping Lucia Vein located 3 kilometres north of the plant. This rig will sequentially test the highest ranked drill targets from the numerous outcropping veins to the northeast of the Kamila structural corridor as well as the Castaño Nuevo and Don David Joint Ventures 23 kilometres to the north.

"In addition to a substantial drilling effort, an helicopter Magnetics and Radiometrics survey is scheduled to commence in late October and follow-up detailed grid based Ground Magnetics and Induced Polarization surveys will commence later this quarter to assist in delineating drill targets within the outcropping vein area north and northeast of the processing plant."

The new holes reported include a series of step-outs and infill holes from earlier reported gold–silver intercepts on the Inca Vein within the Kamila Southeast Extension Target, most of which intercepted the modelled Inca Vein surface as planned.

The Kamila Southeast Target was originally modelled as a series of three shoots from northwest to southeast centred on high grade intercepts in CA-11-297, CA-11-295 and CA-11-306.

The new drill holes have added significantly to the understanding of the Kamila Southeast Target and confirmed the high grade gold and silver values associated with the Inca Vein within the zone. Most importantly, it now appears that the two shoots modelled around holes CA-11-295 and CA-11-306 are in fact one larger mineralised zone with a second shoot to the northwest defined by the CA-11-297 intercept.

Additional holes are required to test the gap between the CA-11-297 shoot and the new Main Zone (see Figure 1, Figure 2 and Table 1). Intercepts include:

* CA-11-318: 342.15m – 350.40m: 8.25m grading 8.33g/t gold, 817.79g/t silver or 20.02g/t Au_eq Including :
* Upper interval: 342.15m – 344.95m: 2.80m at 17.23g/t gold, 965.5g/t silver or 31.03g/t Au_eq
* Lower interval: 347.85m – 350.40m: 2.55m at 7.78g/t gold, 1534.3g/t silver or 29.70g/t Au_eq;

* CA-11-319: 3.45m at 0.10g/t gold, 15.61g/t silver or 0.32g/t Au_eq from 413.45m;

* CA-11-320: 1.65m at 0.32g/t gold and 22.5g/t silver or 0.64g/t Au_eq from 246.8m

* CA-11-321: 2.00m at 0.09g/t gold, 9.3g/t silver or 0.22g/t Au_eq from 261.10m (Faulted);
* CA-11-322: 2.10m at 0.03g/t gold, 12.4g/t silver or 0.21g/t Au_eq from 358.60m (Lower Contact Faulted);

* CA-11-323: 9.00m at 10.98g/t gold and 1320.2g/t silver or 29.84g/t Au_eq from 289m;
* CA-11-324: 3.55m at 0.04g/t gold, 7.15g/t silver or 0.09g/t Au_eq from 305.9m;

* CA-11-325: 3.65m at 2.32g/t gold and 850.6g/t silver or 14.47g/t Au_eq from 302.5m.

* CA-11-326: 11.2m at 2.66g/t gold and 539.98g/t silver or 10.37g/t Au_eq from 341.5m including

* 9.9m at 2.99g/t gold and 602.62g/t silver or 11.59g/t Au_eq from 342.8m and
* 3.10m at 8.31g/t gold and 1433.7g/t silver or 28.7g/t Au_eq from 342.8m;

Drilling to date has focussed on the 430m zone adjacent to the post mineral dyke. The zone remains open along strike for one kilometre, as well as up and down dip.

To view Figure 1 and Figure 2, please click on the following link: http://media3.marketwire.com/docs/try81m.pdf

DRILL HOLE SUMMARIES:

CA-11-318: (2439530mE / 6547707mN/ Azimuth: 45° / Dip -63° / EoH: 380.60m):

Brief description of the Inca Vein Zone:

* 338.80m to 339.30m: Quartz-Pyrite-Epidote Brecciated and Banded Vein.
* 339.30m to 350.25m: Andesitic Crystal Tuff with Quartz-Pyrite Veinlets.
* 350.25m to 351.40m: Quartz-Pyrite–Black Sulphides -Brecciated.

Assays reported:

Overall Interval: 342.15m – 350.40m: 8.25m grading 8.33g/t gold, 817.79g/t silver or 20.02g/t Au_eq Including: Upper interval: 342.15m – 344.95m: 2.8m at 17.23g/t gold, 965.5g/t silver or 31.03g/t Au_eq And Lower interval: 347.85m – 350.40m: 2.55m at 7.78g/t gold, 1534.3g/t silver or 29.70g/t Au_eq

CA-11-319: (2439529.5E / 65477434.68N/ Azimuth: 45º/ Dip: -70º/ EoH: 447.5m):

Brief description of the Inca Vein Zone:

* 413.55m to 417.00m: Brecciated Quartz Vein - Black Sulphides - Brecciated Vein with Pyrite clusters and Trace Chalcopyrite.

Assays reported:

3.45m at 0.10g/t gold, 15.61g/t silver or 0.32g/t Au_eq from 413.45m

CA-11-320: (2439519E / 6547808N/ Azimuth: 45°/ Dip: -75°/ EoH: 324.0m):

Brief description of the Inca Vein Zone:

* 246.80m to 248.45m: Brecciated Quartz Vein with Black Sulphides.

Assays reported:

1.65m at 0.32g/t gold and 22.5g/t silver or 0.64g/t Au_eq from 246.8m

CA-11-321: (2439501.23E / 6547749.66N/ Azimuth: 45°/ Dip: -65°/ EoH: 401.0m):

Brief description of the Inca Vein Zone:

* 260.50m to 262.15m: Faulted and Brecciated Quartz Vein - Fine Bands with Black Sulphides - Ginguro Textures. Intercept above planned depth probably due to fault zone.

Assays reported:

2.00m at 0.09g/t gold, 9.3g/t silver or 0.22g/t Au_eq from 261.10m

CA-11-322: (2349444.0E / 6547764.0N/ Azimuth: 45°/ Dip: -75°/ EoH: 422.2m):

Brief description of the Inca Vein Zone:

* 358.60m to 360.1m: Stockworks Zone with Massive and Banded Quartz Vein.
* 360.10m to 360.4m: Massive to Banded Quartz Vein, with Black Sulphides and lower contact faulted.

Assays reported:

2.10m at 0.03g/t gold, 12.4g/t silver or 0.21g/t Au_eq from 358.60m.

CA-11-323: (2439501E/ 6547750.0N)/ Azimuth: 45° / Dip -68° / EoH: 317.6m):

Brief description of the Inca Vein Zone:

* 289.00m to 292.35m: Brecciated Quartz Vein with Colloform Banding.
* 292.35m to 293.50m: Brecciated Quartz Vein in Andesitic Tuff with Pyrite Disseminated and in Veinlets.
* 293.50m to 298.00m: Brecciated Quartz Vein - Colloform and Cockade Textures with Disseminated Chalcopyrite.

Assays reported:

9.00m at 10.98g/t gold and 1320.2g/t silver or 29.84g/t Au_eq from 289m

CA-11-324: (2439444E / 6547764N / Azimuth: 45°/ Dip: -65°/ EoH: 352.60m):

Brief description of the Inca Vein Zone:

* 297.82m to 306.90m: Andesite/Trachyte Dyke.
* 306.90m to 307.60m: Brecciated Quartz Vein within a Fault with Disseminated Pyrite.
* 307.60m to 309.45m: Stockworks Zone with Massive and Banded Quartz Veining.

Assays reported:

3.55m at 0.04g/t gold, 7.15g/t silver or 0.09g/t Au_eq from 305.9m

CA-11-325: (2439402.58E / 6547806.58N/ Azimuth: 45° / Dip: -63° / EoH: 332.50m):

Brief description of the Inca Vein Zone:

301.85m to 303.80m: Fault with Quartz Vein Fragments and Pyrite Disseminated and in Clusters.

303.80m to 304.35m: Brecciated Quartz Vein with Pyrite, Chalcopyrite, Silver and others Undifferentiated Black Sulphides.

304.35m to 305.25m: Massive Quartz Vein – Trace Sulphides.

305.25m to 306.15m: Brecciated Quartz Vein with Sulphides.

306.15m to 306.85m: Andesitic Crystal Tuff with Quartz Veinlets with Sulphides.

Assays reported:

3.65m at 2.32g/t gold and 850.6g/t silver or 14.47g/t Au_eq from 302.5m.

CA-11-326: (2439569.46E / 6547676.59N/ Azimuth: 45° / Dip: -63° /EoH: 372.40m):

Brief description of the Inca Vein Zone:

* 342.80m to 348.55m: Brecciated Quartz Vein with Colloform and Cockade Textures.
* 348.55m to 353.45m: Brecciated Quartz Vein with Chalcopyrite and Silver.

Assays reported:

11.2m at 2.66g/t gold and 539.98g/t silver or 10.37g/t Au_eq from 341.5m including; 9.9m at 2.99g/t gold and 602.62g/t silver or 11.59g/t Au_eq from 342.8m and 3.10m at 8.31g/t gold and 1433.7g/t silver or 28.7g/t Au_eq from 342.8m.

To view Table 1, please click on the following link: http://media3.marketwire.com/docs/try81t.pdf

Competent Person's Statement

Geological information in this Report has been compiled by Troy's Vice President Exploration & Business Development, Peter Doyle, who:

* Is a full time employee of Troy Resources NL
* Has sufficient experience which is relevant to the type of deposit under consideration and to the activity which 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'
* Is a Fellow of the Australasian Institute of Mining and Metallurgy
* Has consented in writing to the inclusion of this data

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 Fellow of the Australasian Institute of Mining and Metallurgy. Mr. Doyle has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity he is undertaking, to qualify as a "qualified person" as defined in "National Instrument 43-101 – Standards of Disclosure for Mineral Projects". Mr Doyle has reviewed and approved the information contained in this report. For further information regarding the Company's projects in Brazil, Australia and Argentina, including a description of Troy's quality assurance program, quality control measures, the geology, samples collection and testing procedures please refer to the technical reports filed which are available under the Company's profile at www.sedar.com or on the Company's website.

Disclaimer: Forward-Looking Statements

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.

ABOUT TROY RESOURCES

Troy Resources (TSX:TRY)(ASX:TRY) is a dividend-paying junior gold producer, with a clear growth strategy. The Company has two producing gold operations; Andorinhas Mine in Para State, Brazil and the Casposo gold and silver mine, in San Juan province, Argentina.

Troy has an experienced Board and management team with a track record of successful, fast-track mine development and low-cost operations.

Troy has an annual exploration budget in excess of $8 million and a proven track record in exploration discoveries and strategic acquisitions.

With the development of the Casposo project, Troy has entered a renewed growth phase which will again lift the Company's annual gold production above 100,000 ounces of gold per annum.

The Company is positioned to continue its path of strong growth and profitable operations, and is on track to achieve its vision of becoming a highly profitable mid-tier gold producer with a portfolio of quality long-life assets.

The Company maintains a robust balance sheet and forecasts continued strong cash flow from its current assets. Troy's gold production is unhedged; allowing its shareholders access to the full benefit of current and future gold price upside.

Troy is a responsible corporate citizen, committed to the best practice of health and safety, environmental stewardship and social responsibility.

ABN 33 006 243 750

Contact Information

*

Troy Resources NL
Mr Paul Benson
Chief Executive Officer
(61 8) 9481 1277
(61 8) 9321 8237 (FAX)
troy@troyres.com.au
www.try.com.au

Purple Communications
Annette Ellis / Warrick Hazeldine
Media Relations
(61 8) 6314 6300
aellis@purplecom.com.au



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