Troy targeting growth at Karouni
PERTH (miningweekly.com) – Junior gold miner Troy Resources will continue to target growth opportunities at its Karouni gold project, in Guyana, with the miner hoping to extend its project holding through acquisitions or joint ventures.
Speaking on the sidelines of the Paydirt Latin America Downunder conference, in Perth, Australia, Troy executive director Ken Nilsson said that the company has had a number of discussions with in-country parties.
In addition, the company is also ramping up exploration on its own tenement holdings with the aim of increasing the mine life at Karouni to at least five years.
“Up until May last year, there had been no exploration carried out at Karouni in the prior 12 months, but we have rebooted this.
“This has included extension exploration already mounted at Ohio Creek structure only acquired by Troy last September, and at other nearby regional targets, and with emerging good results,” Nilsson said.
“We have strengthened our exploration team, are adding further drilling capacity by mid-year and are very focused on now moving more resources to reserves.”
Meanwhile, Troy is also looking to exit Brazil, divesting of its remaining tenements at the former Andorinhas project, where gold mining ceased in mid-2016.
Nilsson told Mining Weekly Online that the company was in discussions with a Brazilian operator, with any deal on the tenements, which were thought to be prospective for iron-ore, likely to be based on a royalty agreement.
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