Western Troy Receives Assay Results at Deborah Lake, Partner Match Capital Begins Drilling at Indian Lake
10 Juin 2011 - 10:30PM
Marketwired
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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Western Troy Capital Resources Rex E. Loesby CEO
416-929-3268 Loesby@westerntroy.com www.westerntroy.com
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