Airborne Geophysics and Ground Exploration Completed by USGS On Troy Minerals Lake Owen Project
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VANCOUVER, BC / ACCESSWIRE / November 14, 2023 / Troy Minerals Inc. ("Troy" or the "Company") (CSE:TROY)(OTCQB:TROYF) is pleased to announce that the USGS (United States Geologic Survey) has completed an airborne magnetics and radiometric survey in Wyoming which included the Company's Lake Owen Project in Wyoming, USA, located approximately 50km southwest of Laramie, Wyoming.
As part of the US Government's Critical Metals strategy and their accompanying Earth MRI program, the USGS has shown great interest in the region which has led to the completion of an airborne geophysical survey over the Lake Owen Complex that included flight lines of 100-metre line spacing over the Company's Lake Owen Project area - all at no cost to the Company.
The Lake Owen Project, formerly known as SW2, is a Proterozoic layered mafic intrusion complex with a long history of exploration for platinum group elements and is similar in style to the Stillwater Complex and the Merensky Reef of South Africa.
The USGS' focus, and Troy's, is to support and explore the layered mafic intrusive at Lake Owen for critical metals including Titanium, Vanadium, and Platinum Group Elements (PGE).
In addition to the airborne program, USGS geologists visited the Lake Owen project and performed "boots on the outcrop" field work.
Five days were spent on the project by the USGS, sampling a few transects perpendicular to the layering, focusing on the Lower Zone. Magnetic susceptibility measurements were collected along the way and targeted sampling of the more magnetic outcrops. Also sampled was the contact between the Lower and Upper zones, the chill margin at the base of the complex Proterozoic-Archean contact, and some of the felsic units (the quartz diorite and orthogneiss) in the footwall.
Forty-two (42) rock samples were collected for thin section and major/trace element geochemistry. This will include vanadium and titanium concentrations. Analysis will also include PGE geochemistry, Sm-Nd isotopes, and Re-Os isotopes.
Project data and reports from this airborne and ground survey are expected to be shared with the Company in the coming weeks.
ON BEHALF OF THE BOARD,
Rana Vig | President and Director
Telephone: 604-218-4766
rana@ranavig.com
About Troy Minerals Inc.
Troy Minerals is a mineral exploration company focused on the acquisition, exploration, and development of mineral properties. In addition to the Lake Owen project, the Company currently holds interest in three additional assets:
The LAC JACQUES project is a prospective rare-earth element bearing carbonatite dyke located in Quebec, Canada The property is comprised of 20 claims totaling 1169.47 ha. The road accessible project is located 250km north of Montreal with easy drivable access to all parts of the project area.
The GREEN GOLD project, in which the Company has the right to acquire
The TICKTOCK project, a 1,065-hectare property located within the prolific Golden Triangle region of British Columbia, Canada, lies 23km northwest of the historic Eskay Creek Mine and situated between the Enduro Metals Newmont Lake property and the Aben Resources Forrest-Kerr property.
The scientific and technical disclosure in this news release was approved by William Cronk, P.Geo, a Qualified Person as defined in NI 43-101, and a consultant to the Company.
Forward-Looking Statements
Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Troy Resources Inc. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of commodity prices, and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE: Troy Minerals Inc.
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FAQ
What is the focus of the USGS survey at Lake Owen Project?
What kind of field work did USGS geologists perform at the project?
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