Troy pulls out of peripherals

In spite of mining and processing operations at the Bulchina project continuing strongly, Troy Resources NL is pulling out of other peripheral prospecting interests.

The company, which reported production of 15,5620 ounces of gold from its Sandstone and Cornishman operations at a low operating cost of $140 per ounce for the quarter, is negotiating with two prospective joint venture partners.

This concerns all its tenements in the Southern Cross and Mulgabbie-Kurnalpi project areas.

Mill throughput rates were affected at Bulchina by the installation and commissioning of a new ball mill during March but this was offset by increased head grades.

The new mill will enhance grind capacity and lower costs, as well as providing operational flexibility.

Stockpiles of ore are being kept at a level of around 100,000 tonnes, adequate for three months of milling.

At the same time, resource and reserve drilling is under way at Bulchina with the aim of updating the orebody model and reserves.

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