(TheNewswire)
Troy Minerals Inc. (‘ Troy ‘ or the ‘ Company ‘ ) (CSE: TROY; OTCQB: TROYF; FSE: VJ3) is pleased to announce the results of the 2024 soil geochemical survey on the Lac Jacques rare earth element (REE) property. The 100% owned Lac Jacques property is located approximately 250km north of Montreal Quebec, Canada and approximately 40km northeast of the town of St. Anne du Lac (Figure 1).
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Figure 1: Project location map.
The 2024 soil sample program expanded the 2023 soil survey by infilling the area between the eastern and western survey grids, covering the strike of the inferred dyke and mineralization between the Discovery Trench to the west and the dyke exposed to the east (Figure 2). A total of 315 samples were collected from twenty-one 100 metre spaced lines with sample sites at 25 metre spacing.
The inferred dyke is not well defined geochemically through the area of the 2024 sampling. A scattering of anomalous (mean plus two standard deviations) soil samples are broadly located in the central area of the survey grid, south and west of Lac Jacques (Figure 2). The highest TREE (+Y) value of 493 ppm is located immediately along the south shore of Lac Jacques and located along the projected strike of the dyke. Another anomalous sample of 360 ppm is located 500 metres east, and several anomalous samples are located along the inferred dyke to the west (Figure 3).
Provincial regional mapping shows a leucocratic, biotite-allanite monzogranite, ranging from fine-grained to pegmatitic, which may be related to the REE expression in the soils. Based on drilling during 2023 some 3km to the west, the REE here are associated with pegmatitic syenite to granite intrusives. Petrographic studies of the mineralized drill core identify allanite as the principal REE-bearing minerals (see News Release, February 20, 2024).
Rana Vig, President and CEO, commented, ‘We are pleased with the continued presence of anomalous REE in soils along the 4km strike length of the REE bearing structure at Lac Jaques. We expect our drill permit to be granted soon and our team is ready to commence drilling and begin looking for new targets based on the results of this successful soil sample program ,’ he said.
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Figure 2: Location of 2024 soil sampling program
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Figure 3 Anomalous TREE(+Y) Soils
Quality Assurance and Quality Control
Soil samples were submitted to Activation Laboratories Ltd. in Val D’or, Quebec for preparation and analysis. Sample preparation consisted of drying and sieving to 177 μm (Act Labs code S1). Sample analysis consisted of a 0.25g sample is digested with four acid solution. Digested samples are diluted and analyzed by ICP-MS. One blank is run for every 40 samples. In-house control is run every 20 (Act Labs code UT-4).
Qualified Person
The technical information contained in this news release has been reviewed and approved by Ted Vander Wart, P.Geo. , who is a qualified person as defined under National Instrument 43-101.
ON BEHALF OF THE BOARD,
Rana Vig | President and Director Telephone: 604-218-4766
Email: rana@ranavig.com
Forward-Looking Statements
Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed ‘forward-looking statements’. All statements in this release, other than statements of historical facts, that address events or developments that Troy Resources Inc. (the ‘Company’) expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of commodity prices, and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
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