Troy Resources is still hitting high-grade gold bonanzas in South America
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Troy Resources (ASX: TRY) is still digging out its merry way at its Ohio Creek gold mine in Guyana, South America.
At the risk of sounding “like a broken record”, CEO Ken Nilsson said ongoing drilling operations have revealed more high-grade gold deposits.
The company’s reverse circulation drilling program has resulted in another six deposits with gold mineralisation above 5 grams per ton.
The reverse circulation method can bring fluids to the surface faster than regular drilling.
By quality, Troy’s latest discoveries ranged 6.71 g/t to 16.71 g/t. Shares in the company were unchanged at 10 cents this morning.
Where to from here?
The latest results follow more promising discoveries at the site in November.
As for the next step in Troy’s exploration plans, the company is waiting on some key equipment – a diamond drilling rig – to arrive in Guyana.
“The diamond drilling campaign, to commence shortly, will add significantly to our understanding of the controls on and location of gold mineralisation,” Nilsson said.
“I suspect that receipt of these results will be the trigger for us to commence work on delivering an inaugural Mineral Resource at Ohio Creek, hopefully in the June Quarter.”
To achieve that, Troy is working on boosting the surrounding infrastructure at the site. Two bridges to the Ohio Creek site have been completed and a haul road remains under construction.
Local accommodation and office structures are also being set up to reduce travel plans in the local area.