Troy Resources achieves record gold production for quarter

The Ireng river marking the Brazil-Guyana border. Image: David Stanley via Flickr (CC2.0)

Troy Resources’ Guyanese gold operation Karouni has achieved a company record of 21,703 ounces (oz) of gold production for the quarter ending March 2018.

This level is 35 per cent higher than production in the previous quarter, which reached 16,109oz, and is also 8 per cent higher than the company’s previous quarterly record of 20,195oz, which was achieved in the March quarter 2016.

Troy’s 100 per cent-owned Karouni project is located approximately 180km south-southwest of Guyanese capital Georgetown, and features primary gold mineralisation at the Hicks, Smarts and Larken deposits at the northern end of the project.

Troy first received environmental approvals for the Karouni project at the start of 2015; as of June 30 last year, the project contained proved and provable reserves of 2.94Mt at an average grade of 2.22g/t, or 210,000oz overall.

In addition, its measured and indicated resources include 8.275Mt at 2.25g/t for 599,400oz. Inferred resources stand at 5.14Mt at 2.33g/t for 383,300oz.

Ken Nilsson, managing director of Troy, said that the production budget for future quarters would be set at an amount slightly below that of “this record quarter”.

“Excellent grades from the Smarts 3 pit together with a strong performance by mining and processing have enabled the company to beat budget and set a record quarter of gold production from the Karouni project,” Nilsson said.

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