ASX-listed Troy Resources is back on track at its Karouni gold mining operation in Guyana, South America, with mining now in full swing again after a death on-site last year closed the operation down. The company is also experiencing considerable and sustained success with the drill bit and expects ore processing to re-commence in late January as ore stocks are built up. Gold sales will commence soon after in February.
This week the company announced some high-grade gold results at Karouni including a 6m drill intersection going 5.4 ounces to the tonne gold.
The new intersection was encountered 78m down-hole at the company’s Hicks 4 project area and was contained within a broader 16m mineralised section grading 2.42 g/t gold.
Other significant intercepts included 7m at 3.23 g/t gold from 50 m, 4 m at 3.42 g/t gold from 96 m and 6 m at 1.66 g/t gold from 96 m.
According to Troy, the high-grade mineralisation extends over several sections within an overall strike length that has now blown out to approximately 800 metres. It is situated below shallow sand cover that is typically up to 10 metres wide.
The company said there is “excellent continuity of mineralisation” at Hicks 4 now, which remains open at depth.
A resource update is also on the way that will include the latest numbers.
The company said that full-scale mining is now underway at Karouni, commencing with the removal of sand overburden at the Hicks 4 Pit.
The commencement of full-scale mining at the project comes after Troy entered into a trading halt in October last year, followed by a voluntary suspension, after the death of an employee due to an incident at Hicks 1.
Troy subsequently received a Cease Work Order from Guyana’s Ministry of Social Protection, meaning it had no option but to comply and stop all mining and milling activities, albeit temporarily.
After a difficult period, It seems that Troy is now back on track and firing on both the exploration and mining fronts.
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By Matt Birney
