Barrick’s CEO, Mark Bristow, commented: “We are pleased to partner with Troy Resources, who have done well to aggregate a sizeable tenement position covering what we consider as a very prospective part of the Karouni Basin. We have capitalised on our knowledge of West African Birimian greenstone gold deposits, to identify the Karouni basin as a priority area of interest. The geological similarities between the West African Birimian and the Guiana Shield are well established, however the exploration in the Guiana Shield is quite immature by comparison. We look forward to combining Barrick’s technical and financial resources with Troy’s established in country team and knowledge, to advance exploration over the Project Tenements with the aim to deliver new world class gold discoveries.
TRY's modus operandi has been to find mineable deposits, mine them so as to generate cash flow to fund exploration. In a sense out of necessity as they didn't have the funds to do more intensive exploration and in the case of Smarts underground they had run out of ore to process. So coming up with an install mine plan too priority over establishing the full extent of the reserves
Maybe the geology team lacked the knowledge that Barrick have on the type of geology, I found it surprising that with all those high grade drill results at OC nothing came of it.
In any case very little deep drilling has been done in Guyana but the fact that Smarts underground exists suggest that there could be much more deep deposits.
LOL some what frustrating waiting to find out what is going on
TRY Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
