Perth, Nov 26, 2007 AEST (ABN Newswire) - Troy Resources NL's (ASX: TRY) Mongolian subsidiary, Troy Mongolia Alt Resources ("TMAR"), has completed a 12 hole (1,482m) diamond core drill program to test the Toordogiin Shil Zone at Gutain Davaa. This third phase of drilling was completed during September and October 2007.
Significant gold assays from this latest round of drilling on the hilltop Toordogiin Shil Zone included:-
- Hole GDDD-54: 5m @ 7.45g/t (50m - 55m) including 2m @ 10.51g/t (62m - 64m);
- Hole GDDD-56: 17m@ 3.53g/t (52m-69m) including; 2m @ 11.99g/t (56m - 58m), and 6m @ 10.19g/t (103m - 109m);
- Hole GDDD-61: 6m @ 7.93g/t (41m - 47m) including 2m @ 23.22g/t (42m - 44m).
Geological interpretation of this new data supports the current "folded shoot target" model which suggests the presence of several zones of mineralisation associated with a northeast - southeast trending fold axis that plunges to the northwest.
The mineralised quartz veins are hosted within a strongly tectonized and folded, pervasively quartz-sericite-pyrite +/- arsenopyrite altered medium grained, Mesozoic granodiorite and black schist. Visible gold and bonanza gold grades are associated with the strongly sheared margins of the quartz veins.
The Company discovered the Toordogiin Shil quartz vein prospect just before winter in November 2005 and completed a limited Reverse Circulation ("RC") drill test in February 2006, with four holes reporting significant gold intercepts that included 15m @15.09g/t.
In May 2006, follow-up field work consisting of geological mapping, soil sampling, rock sampling and an excavator costeaning program commenced on the TS Zone and culminated with a Reverse Circulation ("RC") and Diamond Core drill test of two targets in November 2006.
The following May 2007, field work resumed and included infill stream sediment sampling, infill soil sampling, rock sampling and detailed ground magnetics. The September 2007 drilling detailed in Table 1 completed the 2007 field program.
TMAR has now completed all the earn-in requirements stipulated in the joint venture agreement with U & B Mining and has now earned an 80% interest in the property.
The current plan is for field work to recommence in May 2008 with a program of infill soil sampling detailed ground magnetics, excavator costeaning, geological mapping and an Induced polarization IP geophysical survey is planned to test the strike extensions of the TS Zone to the northwest. Drilling is planned for later in 2008.
Contact
Mr Paul Benson
CEO - Troy Resources NL
Tel: +61-8-9481-1277
E: troy@troyres.com.au
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