Troy gold operations back on track in South America

ASX-listed Troy Resources is back on track at its Karouni gold mining operation in Guyana, South America, with mining now in full swing again after a death on-site last year closed the operation down. The company is also experiencing considerable and sustained success with the drill bit and expects ore processing to re-commence in late January as ore stocks are built up. Gold sales will commence soon after in February.

This week the company announced some high-grade gold results at Karouni including a 6m drill intersection going 5.4 ounces to the tonne gold.

The new intersection was encountered 78m down-hole at the company’s Hicks 4 project area and was contained within a broader 16m mineralised section grading 2.42 g/t gold. 

Other significant intercepts included 7m at 3.23 g/t gold from 50 m, 4 m at 3.42 g/t gold from 96 m and 6 m at 1.66 g/t gold from 96 m.

According to Troy, the high-grade mineralisation extends over several sections within an overall strike length that has now blown out to approximately 800 metres. It is situated below shallow sand cover that is typically up to 10 metres wide.

The company said there is “excellent continuity of mineralisation” at Hicks 4 now, which remains open at depth.

A resource update is also on the way that will include the latest numbers.  

The company said that full-scale mining is now underway at Karouni, commencing with the removal of sand overburden at the Hicks 4 Pit.

The commencement of full-scale mining at the project comes after Troy entered into a trading halt in October last year, followed by a voluntary suspension, after the death of an employee due to an incident at Hicks 1.

Troy subsequently received a Cease Work Order from Guyana’s Ministry of Social Protection, meaning it had no option but to comply and stop all mining and milling activities, albeit temporarily. 

After a difficult period, It seems that Troy is now back on track and firing on both the exploration and mining fronts. 


Is your ASX listed company doing something interesting Contact:

Add your comment

Share Price

Closing price for the last 90 trading days
Powered by Morningstar ®

Top 10 Shareholders

Substantial shareholders as published in the annual report.
Powered by Morningstar ®

Total Shareholder Return as at 31/12/19

1 year TSR5 year TSR
31stAlkane Resources200%22%
270thRand Mining21%44%
533rdTroy Resources-18%-27%
790thBlackham Resources-69%-18%
668 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Powered by Morningstar ®

Share Transactions

$43k Sold
$125k Sold
$173k Sold
Total value as at the date of the transaction
Powered by Morningstar ®


28th↓Tiger Resources$113.2m
29th↑Blackham Resources$111.1m
30th↑Troy Resources$104.1m
31st↓Alkane Resources$94.4m
32nd↑Rand Mining$80.3m
484 listed resources companies ranked by revenue.
Powered by Morningstar ®