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Troy Resources have delivered some good news for shareholders with the company's first ore-grade hits from exploration outside of the Karouni mine area in South America. The encouraging gold intercepts validate the targeting work by Troy's exploration team last year and support the view that Karouni could be just the start for the Perth-based gold producer.

Troy Resources have developed some exciting new exploration targets near their Karouni gold mine in Guyana, South America, including a new prospect measuring 1200m by 150m. The new targets stem from a major review of historical geophysical data that may have generated some breakthrough ideas for targeting gold in the Karouni mine area.

Troy Resources has reported some impressively long mineralised drill intersections from recent, near mine drilling at its Karouni Gold mine in South America . The Perth-based company says it has identified favourable geological domains for gold deposits at its Goldstar, Hicks 4, and Smarts NW prospects with intersections up to 29m long.

Gold miner Troy Resources were knocked over in the rush by heavyweight institutional investors clambering to get a peice of Troy's $40m capital raise this week. After turning out some stellar near mine drilling results in recent times, Troy have decided to target the low hanging fruit with a $16m exploration and development drive that will focus mostly on near mine exploration.

Recent drilling at Troy Resources' Karouni gold mine in Guyana, South America, has increased the gold resource to more than 1.1 million ounces. In their latest annual statement of resources and ore reserves, Troy revealed a 48,000 ounce increase in ore reserves and an 83,400 ounce boost to inferred resources, adding around AUD$145m to the in-situ value of the resource.

Despite a few minor technical setbacks during FY16, Troy Resources' new Karouni Mine in Guyana in South America remains a highly profitable operation with C1 cash costs reported at just US$515 per ounce. All in sustaining costs came in at just US$816 an ounce and the company is predicting that could drop to as low as US$750 an ounce in FY17.

Troy Resources have overcome early mill problems at their new Karouni gold mine in Guyana, South America and made a series of improvements to boost production rates. The Perth-based gold miner also reported a swag of encouraging drilling, suggesting there is still plenty of upside in the Karouni resource.

Troy Resources recent drilling program from the pit floor at the Karouni gold mine in South America has turned up a number of stellar intersections including one grading over 4 ounces to the tonne gold with visible gold evident in a number of samples. Around half of the 29 drill intercepts from the latest program occured below the current pit design.

Troy Resources have re-negotiated a debt deal with an excellent outcome that will free up cash to further develop their Karouni Gold Mine resource in South America. Karouni re-wrote the playbook when Troy managed to take the project from vacant land to producing gold bars in just 2.5 years having built the $130m mine in 9 months. it now produces gold at an amazing USD$412 an ounce.

Austral Gold have agreed to purchase 51% of Troy Resources' marginal Argentine gold/silver mine, Casposo, for USD $3m. Austral are obliged to free carry Troy in a USD $10m capital works program designed to re-engineer the plant after it fell victim to the impact of high inflation and capital controls in Argentina coupled with a falling US dollar gold price.

Troy Resources have achieved commercial production at their $133m Karouni gold plant in Guyana, a small English speaking country on the north Atlantic coast of South America. The company says its Karouni plant is now self funding just 8 weeks after pouring its first 4.7kg gold bar. They are aiming for production of 80 000 tonnes a month from this month.

Perth based Troy Resources has achieved a major milestone with the pouring of its first gold bar at the company's new Karouni Gold plant in Guyana, South America. The gold bar, which weighed in at around 4.7kg is worth about $220 000 at today's Australian dollar gold price.

Perth based ASX listed gold miner Troy Resources today passed a major milestone by commissioning its much anticipated Karouni Gold Plant in Guyana, a small English speaking country on the north Atl