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WRY Western Troy Capital Resources Inc

0.05
0.00 (0.00%)
23 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Western Troy Capital Resources Inc TSXV:WRY TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.05 0.05 0.145 0 01:00:00

Western Troy Receives Assay Results at Deborah Lake, Partner Match Capital Begins Drilling at Indian Lake

10/06/2011 9:30pm

Marketwired Canada


Western Troy Capital Resources (TSX VENTURE:WRY) (Western Troy or the Company)
announced today it had completed its diamond core drilling program at its
Deborah Lake Prospect near Schefferville, QC. Western Troy also announced that
Match Capital Resources (TSX VENTURE:MHC) began a diamond core drilling program
at Western Troy's Indian Lake Prospect which is also near Schefferville, Quebec.
The first hole intercepted 3 meters of massive sulphides at a depth of 102
meters (description below). 


Deborah Lake

The drilling program at Deborah Lake consisted of 2370 meters in 24 core holes
drilled on a number of targets on the property. The drill targets were
identified as a result of surface chip sampling, regional geologic mapping, and
airborne magnetic and electromagnetic surveys. Drill core with mineralized
sections were split and samples sent for assay. The following table shows the
significant intercepts:




Hole      From (m)        To (m)     Length (m)       Copper         Gold
----      --------        ------     ----------       ------         ----
3             36.9          43.3            6.4        0.35%             
4             65.8          70.6            4.8        0.26%             
5             38.1          41.8            3.7        0.27%             
6            242.4         246.6            4.2        0.41%             
7              7.3          13.4            6.1        0.25%             
7              9.2           9.7            0.5                  0.52 g/t
8                0           2.1            2.1        0.29%             
8             11.0          12.5            1.5        0.37%             
9             44.6          50.1            5.5        0.25%             
9             50.1          53.6            3.5                  0.31 g/t



Holes 1 through 6 were drilled in the area where surface samples returned assays
of up to 5% copper and 4 grams gold per tonne in boulders and sub-crop, which
appeared to be frost-heaved bedrock. The type and strength of the mineralization
from surface sampling was not encountered in the drill holes suggesting that the
mineralization may have come from another source not tested by the drilling.
Additional surface work will be needed to find the source of the mineralization.
Drilling on geophysical anomalies in other areas of the prospect did not return
significant assays other than what is shown above. Western Troy will do more
surface work to determine the source of the high grade mineralization found on
surface. 


Western Troy's CEO, Rex Loesby commented, "We are disappointed the drilling to
date has not determined the source of the high grade surface mineralization
found during the field season of 2010. Additional surface work will be needed to
find the source. Western Troy has substantial intrinsic value with its advanced
stage MacLeod Lake Copper/Molybdenum Project, and we have the blue sky potential
that comes from multiple attractive exploration targets in Quebec. Quebec has
been consistently ranked as one of the world's top three jurisdictions for
mineral exploration investment. Our cash position is strong (currently at
approximately $3.5 million, or about 10 cents per share), and we will continue
to advance the MacLeod Lake Project and acquire and explore other prospects in
Quebec."


Indian Lake

Match Capital Resources, Inc., is earning 50 percent of the Indian Lake Prospect
from Western Troy by spending $250,000. The massive sulphides intercepted in the
first hole drilled at Indian Lake are contained within a peridotite formation.
The photo below shows the mineralized section of core from the first hole.


To view the photo associated with this press release, please visit the following
link: http://media3.marketwire.com/docs/Indian%20Lake.jpg


The sulphides are predominantly pyrrhotite (pyrrhotite is an iron sulphide that
is not an economic mineral). However chalcopyrite (copper) and pentlandite (Ni)
have been identified. The hole was drilled to verify drilling done by Kangeld
Resources in 1989 where a drill intersection was reported containing 46.2 feet
of 0.44% copper, 0.31% nickel and 0.44 g/t combined platinum and palladium
(GM48563, Quebec Assessment Files). Kangeld Resources described the
mineralization as similar to the Blue Lake Cu-Ni-Pt-Pd deposits located about 22
kilometers to the south of the property in similar geology. Match plans to drill
approximately 1100 meters in 8 holes in the current program.  


About Western Troy: Western Troy's shares trade on the TSX Venture Exchange
under the symbol WRY. Western Troy has 33,589,970 shares outstanding. More
information on Western Troy can be found on its Website at www.westerntroy.com. 


Forward Looking Statements: Statements in this release that are forward-looking
reflect the Company's current views and expectations with respect to its
performance, business, and future events. Such statements are subject to various
risks and assumptions, some, but not necessarily all, are disclosed elsewhere in
the Company's periodic filings with Canadian securities regulators. Such
statements and information contained herein represent management's best judgment
as of the date hereof based on the information currently available; however
actual results and events may vary significantly. The Company does not assume
the obligation to update any forward-looking statement.


Claude P. Larouche, P. Eng. (OIQ, Quebec), has approved the technical data
presented in the news release. Mr. Larouche is an independent consultant for
Western Troy and acts as the Qualified Person under National Instrument
NI-43-101.


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