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Independent geophysical review identifies new targets at Karouni

Independent geophysical review identifies new targets at Karouni

Troy Resources Limited (ASX: TRY) (Troy or the Company) recently engaged the services of independent geophysical and geological consultants Terra Resources Pty Ltd and Gold Vector to undertake a comprehensive geophysical review of the Company’s existing data base. The Project was initiated and coordinated by Mr John Jones, experienced prospector and Non-Executive Director of the Company.

The results from this review of historical ground/airborne magnetics and Induced Polarisation (IP) geophysical surveys at Karouni have now been received and reviewed with the following outcomes:

  • Work completed so far has identified 11 gold targets near the Karouni mine area ~ of particular interest is the Eldorado prospect and an interpreted IP target.
  • The detailed review of previous, IP and geological data demonstrates that IP does assist in mapping basement geological features providing an additional tool to support the development of gold targets at Karouni.
  • One key target (Figure 2) identifies a chargeable zone approximately 1200m long and up to 150 metres wide. Drilling in one section of this target area near old, alluvial gold workings, is shown to contain gold.

The scope of the review focussed on identifying new drill targets from the historical data acquired in the Smart / Hicks resource areas (Figure 1). Pole-dipole IP surveys at Hicks (1994) and Smarts (2014) were used to assist with characterising bedrock gold mineralisation and targeting gold associated with sulphide alteration beneath cover. Historical airborne and more recent ground magnetic data were used to assist in identifying structure and alteration associated with porphyry intrusions.

Read the full ASX announcement from Troy Resources here