VANCOUVER, BC / ACCESSWIRE / March 18, 2024 /Troy Minerals Inc. ("Troy"or the "Company") (CSE:TROY)(OTCQB:TROYF)(FSE:VJ3) is pleased to announce it has completed the staking of a new property highly prospective for rare-earth elements. The Property is 100% owned by the Company and is unencumbered by any royalties at the present time. The Property is located approximately 320 km north of Prince George, BC, and 170 km north-northwest of Mackenzie, BC, on the western side of Williston Lake (Figure 1).
Highlights
Highly prospective property acquired through staking minimizing acquisition costs.
Stream sediment sampling returned strongly anomalous REE concentrations from multiple creeks and drainages, including 3,647 ppm TREE (total rare earth elements) and 2,550 ppm TREE.
Project unencumbered by any royalty or streaming contracts gives the company increased value and potential future financing optionality.
Large property encompassing 9 claims totaling 3,924.88 ha., several mineral occurrences and the past producing Family Farm mica mine.
Property benefits from good infrastructure and access.
Access to the lower elevations is available by various logging roads from Mackenzie. Upper elevations will require the use of a helicopter.
Figure 1: Project location map.
The Property encompasses several BC Minfile occurrences classified as muscovite pegmatites. The Family Farm occurrence is a past producer of muscovite mica from pegmatites, dating back to the 1920's. The occurrence comprises two concordant dikes of white pegmatite, intruding schist and consisting of mostly muscovite, quartz, and feldspar. Accessory minerals include pyrite, tourmaline, garnet and kyanite. The West Mica Mountain prospect located 3.8 km southwest also reports large muscovite mica crystals up to 33cm. These occurrences are hosted in quartzites and quartz-feldspar-muscovite schists of the Neoproterozoic Swannell Formation.
"Our technical team was able to identify this great opportunity to add to our REE portfolio through staking in an area with a lot of REE potential", said Rana Vig, President and CEO of Troy Minerals Inc. "British Columbia is already Canada's biggest producer of the critical metal copper, the only producer of molybdenum, and smelts other key critical minerals such as aluminum, zinc and germanium. British Columbia is an outstanding province for critical metal exploration" he added.
Most recent exploration between 2006 and 2010 was focused on assessing the REE potential with surface geochemical sampling consisting of stream sediment, soil and rock sampling. Stream sediment sampling returned strongly anomalous REE concentrations from multiple creeks and drainages, including 3,647 ppm TREE (total rare earth elements) and 2,550 ppm TREE (Figure 2). Widely spaced soil sampling in the two main valleys returned several anomalous values of 809 ppm and 1,005 ppm from the western valley and 908 ppm and 867 ppm TREE from the eastern valley (Figure 2). Historical rock sampling did not identify any anomalous samples, although the dataset is quite small and limited in scope and was focused on two occurrences.
Figure 2: Geochemisty plan map, silt and soil samples.
An initial phase of data compilation of the historical work will be followed by a field program to confirm historical concentrations and further assess the REE potential.
The Company also announces that it has extended its marketing contract with i2i Marketing Group LLC, previously announced on November 24, 2023. The extension will be for a period of 60 days or until fund exhaustion of US $150,000. The issuer and i2i Marketing Group are at arm's length.
Additionally, the Company also announces that it has engaged Global ATS Holding AG ("Global"), (email: info@ats-holding.ch; phone: 0041789408002; address: Wigärtlistr. 12, 8598 Bottighofen, Switzerland) to provide European marketing services for a period of 60 days or until budget exhaustion of 100,000 Euro. Global will distribute online content, organize physical and or online presentations with interested parties, including financial advisors, bankers, institutional sales, analysts, brokers, funds, family offices and others. The Company will not issue any securities to Global in consideration for the marketing services and Global and the Company deal at arm's length.
QUALIFIED PERSONS
The technical information contained in this news release has been reviewed and approved by William Cronk, B.Sc., P.Geo., a consultant to the Company, who is a qualified person as defined under National Instrument 43-101.
ON BEHALF OF THE BOARD,
Rana Vig | Presidentand Director Telephone: 604-218-4766 Email: rana@ranavig.com
About Troy Minerals Inc.
Troy Minerals is a mineral exploration company focused on the acquisition, exploration, and development of mineral properties. The Company currently holds interest in four assets.
The Lake Owen project (formerly SW2) is a highly perspective Vanadium, Titanium and Iron ore rich project that consists of 91 mineral claims located approximately 50km southwest of Laramie, Wyoming USA. The property is a one billion tonne plus target in a Proterozoic Layered Mafic Intrusive host with strong magnetite-rich cumulates and accompanying V/Ti and Pt/Pd/Au/Rh-bearing sulfide horizons.
The Lac Jacques project is a drive to project with close infrastructure located approximately 250km north of Montreal Quebec, Canada and is comprised of twenty 20 mineral claims totaling 1170 ha. The Property hosts high grade REE mineralization at the surface in a structurally controlled and steeply dipping carbonatite dike up to 25 meters thick with multi-kilometer potential.
The Green Gold project, in which the Company has the right to acquire 100% interest, is comprised of 14 mineral claims with an aggregate area of 11,238 hectares, is located in central British Columbia in the Cariboo Mining Division, approximately 34 km southwest of the city of Prince George.
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 sits between the Enduro Metals Newmont Lake property and the Aben Resources Forrest-Kerr property.
Forward-Looking Statements
Statement RegardingForward-Looking Information: This release includescertain statements that maybe deemed "forward-looking statements". All statements in this release,other than statements of historical facts, that address eventsor developments that Troy ResourcesInc. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that arenot historical factsand 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 capitaland 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 resultsor 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 eventthat 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.
