Western Troy Stakes Claims on Gold Prospects in Nunavut and Quebec, Niobium/Rare Earths in Quebec
September 16, 2013, Toronto, Ontario - Western Troy Capital Resources (TSX Venture: WRY, US-OTC: WTCRF) (Western Troy or the Company) announced today that over the summer, it has made application for site staked claims on two gold prospects in Nunavut. It has map-staked claims on a gold prospect in the Rouyn-Noranda (Abitibi) region of Quebec, and has map-staked claims on a Niobium/Rare Earths prospect in Southern Quebec.
Western Troy's CEO, Rex Loesby, commented, "These are challenging times in the mineral exploration industry. Western Troy is responding by conserving cash and seeking opportunities that will place us in a very strong position when the industry rebounds. High quality prospects are coming open as weaker companies let them go. The prospects described below are examples of these opportunities. Along with our Gaspe Vanadium, Northshore Titanium/Iron, Nicobi Nickel, Chibougamau Copper, and MacLeod Lake Copper/Molybdenum Prospects, these claims are owned 100 percent by Western Troy and maintenance costs are minimal. Western Troy is also seeking business combinations that will benefit our shareholders."
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Gold in Nunavut: Western Troy has made application to acquire 2 prospects by on-site staking in the Meliadine gold trend located near Rankin Inlet, Nunavut (see Figure 1). The Fox and Wolf Prospects are located 70 kilometres northwest of Rankin Inlet in a 35 kilometre northeast trending belt of amphibolite and meta-sediments, in which a gold bearing exhalite/banded iron formation occurs. The geologic environment of the properties is similar to that of Agnico Eagle's Meliadine gold property, located 45 kilometres to the southeast, and Agnico Eagle's Meadowbank gold property, located 250 kilometres to the northwest.
Figure 1: Nunavut Gold Prospects Location Map
Previous work on the Fox claim (File 084549, Nunavut Assessment Files) has identified gold mineralization over a five kilometre strike length that is open in both directions. Work to date has defined gold mineralization in multiple bands that vary in width, from less than two metres and up to five meters, where fold thickening has occurred. A total of 76 grab samples were collected along a five kilometre strike length. Of these samples, 20 returned values in excess of 5 g/t, up to a maximum of 43 g/t gold. The 20 grab samples included assays of 13.0, 10.2, 13.3, 16.0, 14.8, 29.2, 23.4, 28.6 and 15.4 g/t.
Previous work on the Wolf claim has identified a 250 x 250 meter outcrop with a minimum of three parallel iron formations that were channel sampled with a rock saw over widths of 0.7 to 4.5 meters (reported widths appear to close to true width). A total of 34 samples were sent to the lab for analysis. Gold values in the 34 samples ranged from 0.25 g/t gold over 2.0 meters to 2.36 g/t gold over 1.0 meters. Near the south end of the outcrop area one sample was found to contain 0.83 g/t gold over 4.5 meters. A full listing of analyses is listed on Figure 2.
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Figure 2: Previous channel sampling of the Wolf Occurrence (Adapted from File 084549, Nunavut Assessment Files)
Past work has indicated that known gold occurrences on both the Fox and Wolf claims are related to pronounced magnetic highs. Government airborne geophysical surveys have outlined significant magnetic anomalies along the 35-kilometre trend. Much of the known magnetic trend has seen little or no exploration.
In 2014, and depending on the availability of funds, Western Troy plans to conduct an exploration program to include prospecting, mapping and sampling with possible diamond drilling to explore identified targets.
Letoureur Gold Prospect: Two claims have been acquired in the northwest region of the Abitibi, 41 kilometers north of Rouyn-Noranda. Diamond drilling here in 2010 identified multiple gold zones (see Figure 3). The gold mineralization was found to be associated with pyrite and as free gold. (GM65975, Quebec Assessment Files).
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Figure 3: 2010 drill holes in relation to the Western Troy claim group (Adapted from GM65975, Quebec Assessment Files.)
All of the following historical drill hole intersections were reported in GM65975, Quebec Assessment files.
Hole LE2010-03 was drilled 165 meters east of the east boundary of the Western Troy claim block and drilled in a northwest direction towards the boundary. Significant gold intersections are listed below. Strike of the mineralization appears to be in a southwest direction and is expected to cross the Western Troy claim group.
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Hole LE2010-10 was drilled to test the western extension of the mineralization intersected in hole 3 and was collared 100 meters east of the east boundary of the Western Troy claims and drilled in a northwest direction towards the claim boundary. Significant gold intersections are listed below.
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All of the following holes were drilled on the Western Troy claims.
Hole LE2010-11 was drilled to test parallel mineralization to the northwest of hole 10. Significant gold intersections are listed below.
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Hole LE2010-12 was drilled to intersect the Lac Lois fault zone (see Fig 3). Significant gold intersections are listed below.
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Hole LE2010-15 was drilled in the northwest portion of the Western Troy claim block and was collared to test a magnetic anomaly located there. Significant gold intersections are listed at right.
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Western Troy will continue to compile data on this property and propose a work program for 2014.
Lake of Two Mountains Rare Earths Prospect: The Lake of Two Mountain Prospect consists of 1 claim (63 hectares) located in the north part of the Lake of Two Mountains carbonatite complex (see fig 4). A drilling Program was done by Advance Red Lake Gold Mines and Bouscadillac Gold Mines Ltd. in 1955 (GM 03287, Quebec Assessment Files). A total of 8 holes intersected significant niobium mineralization (see fig 5). The holes were not analyzed for rare earth metals. Hole A-47 located about 175m southeast from the Western Troy southeast claim boundary was analyzed for P2O5 (phosphorus). It averaged 3.2% P2O5 over a core length of 61.8 meters.
The 1957 Report PR-351 of the Quebec Department of Mines reported that Bouscadillac Gold Mines defined a non-43-101 resource of 3.2 million tonnes grading between 0.11 and 0.99% Nb2O5. In a 1958 report by the Geological Survey of Canada (Rowe, 1958), it is reported that drilling by Advance Red Lake indicated 3.5 million tonnes grading 0.31% Nb2O5, 0.39% rare earth oxides and 9.1% P2O5 (phosphate). This non-43-101 resource corresponds to the area of the Western Troy claim. The Qualified Person has not done work to classify these estimates as a resource and the company is not treating the historic estimate as a current resource.
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Figure 4: Lake of Two Mountains Carbonatite Complex Showing the Western Troy Claim Block
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Just south of the Western Troy claim, Niocan has defined a 43-101, measured and indicated resource of 10.63 Mt grading 0.68 Nb2O5 and an inferred resource of 3.22 Mt at 0.61% Nb2O5. Niocan has concluded that their Oka niobium property has the required historical resources for an economically viable project. (Niocan Annual Report, March 20, 2013)
Western Troy will be exploring ways that we may participate in this development project or advance the development of our own property possibly through an option agreement with a third party.
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.
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. Mr. Claude P. Larouche, Ing. (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. Western Troy has not verified the information on the prospects described in this news release.
Contact Information:
Western Troy Capital Resources
Rex E. Loesby, CEO
Tel: 416-929-3268
Email: RexLoesby@aol.com
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