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All Correspondence to: REGISTERED OFFICE Ground Floor 44 Ord Street West Perth 6005 Western Australia Telephone: (61 8) 9481 1277 Facsimile: (61 8) 9321 8237 Email: troy@troyres.com.au Web Site: www.troyres.com.au
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KAMILA SOUTHEAST TARGET DRILLING CONTINUES TO DELIVER HIGH GRADE RESULTS Drilling along strike and southeast of Kamila Reserve extends new, highgrade gold-silver mineralised zone. Hole CA-11-316 reported an interval of 3.45m at 21.59g/t gold and 1240.35g/t silver or 39.30g/t Au_eq from 315.35m, downhole; Hole CA-11-317 reported an interval of 2.0m at 10.99g/t gold and 312.50g/t silver or 15.45g/t Au_eq from 323.50m downhole. Mineralised zone remains open along strike, as well as up and down dip. Second Rig added to program in late June to complete Infill drilling targeting Resource estimate in September quarter.
PERTH, Western Australia: Troy Resources NL (Troy) (TSX: TRY, ASX: TRY) is pleased to announce further assay results from recently completed drilling at the Companys flagship Casposo gold and silver mine in San Juan, Argentina, which continue to extend the new high grade gold-silver mineralised zone along strike and to the southeast of the existing Kamila Reserve. The new holes include a series of step-outs and infill holes from earlier reported goldsilver intercepts on the Inca Vein within the Kamila Southeast Extension Target, most of which intercepted the modelled Inca Vein surface as planned. The new intercepts have added significantly to the understanding of the Kamila Southeast Target and continue to confirm the high grade gold and silver values associated with the Inca Vein within the zone (see Figure 1, Figure 2 and Table 1). Intercepts include: CA-11-314: 0.5m at 4.70g/t gold and 104.0g/t silver or 6.19g/t Au_eq from 338.8m and 1.15m at 3.95g/t gold and 14.83g/t silver or 4.16g/t Au_eq from 350.25m downhole; CA-11-315: overshot the modelled pierce point Inca Vein target and this resulted in no significant assays; CA-11-316: 3.45m at 21.59g/t gold and 1240.35g/t silver or 39.30g/t Au_eq from 315.35m, including 0.90m at 59.19g/t gold and 3751g/t silver or 112.78g/t Au_eq from 315.35m downhole; CA-11-317: 2m at 10.99g/t gold and 312.50g/t silver or 15.45g/t Au_eq from 323.50m downhole.
Drilling to date has focussed on the 430m zone adjacent to the post mineral dyke. The zone remains open along strike for one kilometre, as well as up and down dip. Chief Executive Officer, Paul Benson said: Our current objective is to complete the drilling required for a Resource Estimate on this new zone in the September quarter and if the infill drilling is positive, a Mining Reserve by the end of the calendar year. Our focus in the coming months will be to determine if we can prove up sufficient high grade material to justify commencing underground development earlier than currently planned. Mr Benson said the man-portable drill has been repositioned and has commenced drilling on the one kilometre long outcropping Lucia Vein located 3 kilometres north of the plant. This rig will sequentially test the highest ranked drill targets from the numerous outcropping veins to the northeast of the Kamila structural corridor as well as the Castao Nuevo and Don David Joint Ventures 23 kilometres to the north. In addition to a substantial drilling effort, a contract has been awarded for detailed helicopter magnetics and a radiometric survey over the Casposo Property and the JV areas. Follow-up ground magnetics and Induced Polarization surveys will also be undertaken to assist in delineating covered drill targets. ENDS For further information please contact: Mr Paul Benson Chief Executive Officer Troy Resources NL T: (61 8) 9481 1277 E: troy@troyres.com.au Annette Ellis / Warrick Hazeldine Media Relations Purple Communications T: (61 8) 6314 6300 E: aellis@purplecom.com.au
DRILL HOLE SUMMARIES: CA-11-314: (2439632.1E-6547632.58N/45/-60/ 455.0m): Brief description of the Inca Vein Zone: 338.80m to 339.30m: Quartz-Pyrite-Epidote Brecciated and Banded Vein. 339.30m to 350.25m: Andesitic Crystal Tuff with Quartz-Pyrite Veinlets. 350.25m to 351.40m: Quartz-PyriteBlack Sulphides -Brecciated.
Assays reported: 0.5m at 4.70g/t gold and 104.0g/t silver or 6.19g/t Au_eq from 338.8m and 1.15m at 3.95g/t gold and 14.83g/t silver or 4.16g/t Au_eq from 350.25m CA-11-315: (2439632.1E-6547632.58N/45/-45/ 359.5m): Brief description of the Inca Vein Zone: 280.00m to 281.15m: Tectonic Breccia containing Pyrite-Calcite-Quartz Veinlets and Black Sulphides. 281.15m to 286.90m: Brecciated Rhyolite with Calcite Veinlets containing Black Sulphides and Pyrite as Both Disseminated Sulphides and as Clusters.
CA-11-316: (2439530.86E-6547707.54N/45/-61/ 337.50m): Brief description of the Inca Vein Zone: 280.30m to 291.70m: Andesitic Crystal Tuff with Rare Banded Quartz Veins. 291.70m to 292.30m: Minor Quartz-Calcite-Pyrite Vein, Fine Banded and Breccia textures with Black Sulphides. 292.30m to 314.25m: Andesitic Crystal Tuff Moderate Silicification/Quartz Veining. 314.25m to 314.60m: Minor Fault Zone with Argillic Alteration. 314.60m to 315.35m: Andesitic Crystal Tuff. 315.35m to 318.75m: Main Vein Zone Include: 315.35m to 316.20m: Brecciated, Banded Texture Vein with Black Sulphides, PyriteChalcopyrite, and Native Silver. 316.20m to 318.50m: Quartz Vein - Banded and Massive Textures. 318.50m to 318.75m: Breccia - Andesite and Quartz Vein Fragments. 318.75m to 321.70m: Andesitic Crystal Tuff with Quartz-Pyrite Veinlets with Local Stockworks.
Assays reported: 3.45m at 21.59g/t gold and 1240.35g/t silver or 39.30g/t Au_eq from 315.35m, including 0.90m at 59.19g/t gold and 3751g/t silver or 112.78g/t Au_eq from 315.35m. CA-11-317: (2439529.54E-6547743.68N/45/-65/ 353.50m): Brief description of the Inca Vein Zone: 321.05m to 324.50m: Main Vein Zone including: 321.05m to 322.50m: Brecciated, Banded Quartz Vein within Silicified Andesite. 322.50m to 323.30m: Brecciated, Minor Banded Quartz Vein with Black Sulphides and Pyrite. 323.30m to 324.50m: Banded to Massive Textured Vein with Minor Fine Banded Black Sulphides. 324.50m to 353.50m: Andesitic Crystal Tuff with Banded Quartz Veins and Calcite Veins.
Assays reported: 2m at 10.99g/t gold and 312.50g/t silver or 15.45g/t Au_eq from 323.50m
Table1:KamilaSoutheastTargetIncaVeinDrillingSummaryofAssayResults
HoleID Easting (m) Northing (m) Depth(m) Az Dip From (m) To(m) Length* (m) Gold Grade (g/t) Silver Grade (g/t) Grade (g/t) (Au_eq) True width** (m) Significant Downhole Interval(m) ofg/tgold, g/tsilveror g/tAu_eq 0.5mat 4.70g/tgold and104.0g/t silveror6.19 g/tAu_eq from338.8m 1.15mat 3.95g/tgold and14.83g/t silveror 4.16g/t Au_eq from 350.25m 3.45mat 21.59g/t gold and 1240.4g/t silveror 39.30g/t Au_eq from 315.35m 1.0mat 10.99g/t gold and312.5g/t silveror 15.45g/t Au_eqf rom332.5m
338.80
339.30
0.50
4.70
104.0
6.19
0.39
CA11314
2439632
6547633
455.00
45
60
350.25
350.80
0.55
0.46
0.56
350.80
351.40
0.60
7.15
22
7.46
0.89
318.30
318.80
0.50
1.52
84
2.72
323.50
1.00
5.28
206
8.22 0.75
323.50
324.50
1.00
16.69
419
22.68
1.
2. 3. 4.
Agprocessingrecovery80.6% Goldequivalencyisdeterminedbymetalpriceandrecoveryfactors. MetalpricesaretheaveragepricesassumedintheCasposolifeofmineplan. Processingrecoveriesweredeterminedbymetallurgicaltestworkcarriedoutbyindependentconsultantsondiamonddrillcorefrom Casposo. Theequivalencyiscalculatedbytheformula: Gold:Silverratio=(goldpricesilverprice)x(goldrecoverysilverrecovery) =(933.3315.5)x(.937.806) =70.00 Goldequivalencyiscalculatedbytheformula:Au_eqg/t=Aug/t+(Agg/t70.00) NSRNosignificantResultsAllsampleswerepreparedandassayedbyAlexStewart(Assayers)ArgentinaLaboratoryinMendoza Argentina. GoldbyFAandeitheragravimetricorAASfinish,usingmethodgold450orgold4A50forsampleswithgold>10g/t Silverbythreetechniques:fouraciddigestionfollowedbyAASreadingforchecksamplesuptoFebruary2006,aquaregiadigestion followedbyinductivelycoupledplasmawithopticalemissionspectroscopy(ICPOES)readingforallsamplesinmineralisedintersections afterFebruary2006.MethodnumberswereGMA,ICPAR39andsilver4A50.
Information of a scientific or technical nature in this report was prepared under the supervision of Peter J. Doyle, Vice President Exploration and Business Development of Troy, a qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects, a Fellow of the Australasian Institute of Mining and Metallurgy. Mr. Doyle has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity he is undertaking, to qualify as a qualified person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr Doyle has reviewed and approved the information contained in this report. For further information regarding the Companys projects in Brazil, Australia and Argentina, including a description of Troys quality assurance program, quality control measures, the geology, samples collection and testing procedures please refer to the technical reports filed which are available under the Companys profile at www.sedar.com or on the Companys website.
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