Western Troy Completes Drilling Program at MacLeod Lake
TORONTO, ONTARIO–(EMWNews – July 21, 2008) – Western Troy Capital Resources Inc. (TSX VENTURE:WRY), (“Western Troy”) announced today that it had completed a drilling program at MacLeod Lake. The program, performed in support of the planned feasibility and environmental permitting program, was designed to:
1. Provide samples of ore and waste rock for metallurgical testing.
2. Upgrade the inferred resource in the Main Zone into the indicated category.
3. Drill potential tailings and waste rock storage areas (condemnation drilling).
The program was completed in early June, 1500 kilograms of ore and waste were delivered to SGS Minerals Services (metallurgical laboratory) in Lakefield, Ontario, and core splits were sent for assay to Accurassay Laboratories in Thunder Bay, Ontario. A significant change in the overall resource is not expected as a result of the inclusion of these new holes. The resource calculation will be updated with the new drill data as part of the ongoing final feasibility work being performed by Genivar of Val d’Or, Quebec. A new resource calculation will be published as soon as it is available from Genivar.
Hole 209 was drilled half way between drill lines 1300 and 1400 and it is the highest grade hole over the longest intercept of any previous hole drilled in at MacLeod Lake. The average grade of this hole over 92.2 meters is 0.629% Copper and 0.152% Molybdenum. Because it was drilled in the center of the Main Zone, the inclusion of hole 209 in the Main Zone resource may result in only a slight increase in the overall grade and tonnage of the deposit. However, the real significance of the hole involves the timing of production as outlined in the Scoping Study recently completed by Scott Wilson Roscoe Postle Associates (SWRPA). The mining plan as outlined by SWRPA calls for mining the high grade portions from the center of the Main Zone in the early years. Whereas the life of mine average grade in the mining plan is 0.60% copper and 0.094% Mo, the average grade in the first year is 0.93% copper and 0.130% Molybdenum. This high grade production in the early years generates high cash flow and thus a fast payout for the mine. The addition of hole 209 to the resource should enhance this dynamic.
Hole # From To Width Cu% Mo%
—— —- — —– — —
196 9.0 22.9 13.9 0.440 0.026
197 30.0 34.4 4.3 0.417 0.052
and 53.0 56.0 3.0 0.575 0.004
199 36.4 39.6 3.2 0.798 0.169
200 11.0 18.0 7.0 0.512 0.063
and 39.0 45.0 6.0 0.544 0.066
209 9.0 20.0 11.0 0.886 0.042
and 38.8 64.0 25.2 0.796 0.179
and 70.0 126.0 56.0 0.504 0.162
210 42.0 49.0 7.0 0.655 0.018
216 124.0 130.0 6.0 0.583 0.003
A total of 26 holes were drilled in the May program. If a hole is not listed, there were no ore grade intercepts in the hole. All of the holes were drilled vertically, so the listed ore intercepts do not reflect the true thickness of the deposit. All holes were drilled on the Main Zone with the exception of holes 213, 214, 215, 218, 219, and 220, which were condemnation holes drilled in areas proposed for tailings and waste storage.
Western Troy has a quality control program in place to ensure best practices in sampling and analysis of drill core. Samples of drill core are sent to the TJCM preparation laboratory in Chibougamau, Quebec, for crushing and sample preparation. The resulting pulps are then sent to Accurassay, Thunder Bay for gold analysis by Atomic Absorption and copper, molybdenum and silver by Induced Couple Plasma Analysis. Accurassay Laboratories employs an internal quality control system that tracks certified reference materials and in-house quality assurance standards. Accurassay Laboratories uses a combination of reference materials, including reference materials purchased from CANMET, standards created in-house by Accurassay Laboratories and tested by round robin with laboratories across Canada, and ISO certified calibration standards purchased from suppliers. Should any of the standards fall outside the warning limits (+/- 2SD); re-assays will be performed on 10% of the samples analyzed in the same batch and the re-assay values are compared with the original values. If the values from the re-assays match original assays the data is certified, if they do not match the entire batch is re-assayed. Should any of the standard fall outside the control limit (+/- 3SD) all assay values are rejected and all of the samples in that batch will be re-assayed.
The geologic evaluations and opinions presented in this release are those of Stewart Winter of Winterbourne Explorations Ltd., Sudbury, Ontario. Mr. Winter is an independent “qualified person” within the meaning of National Instrument 43-101. Mr. Winter supervised the preparation of the data presented here and has reviewed and approved the content of this press release.
About Western Troy
Western Troy Capital Resources Inc. is a mineral exploration company. Its 100%-owned MacLeod Lake Property, located about 275 km north of Chibougamau, Quebec, hosts a well defined Main Zone of mineralization as outlined by extensive drilling. In addition, a South Zone resource and several IP anomalies of potential interest have been identified. In April of 2008, Western Troy received an independent Preliminary Assessment (Scoping Study) consistent with National Instrument 43-101 on its MacLeod Lake Property. The report has been filed on SEDAR and is available at www.SEDAR.com and on Western Troy’s website, www.WesternTroy.com. Western Troy also has a number of early stage molybdenum, copper, uranium, platinum, rare earths, and other minerals exploration properties in Quebec. The shares of Western Troy trade on the TSX Venture Exchange under the symbol WRY, with 19,550,970 shares outstanding.
Statements in this release that are forward-looking reflect Western Troy’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 information currently available; however actual results and events may vary significantly. The Company does not assume the obligation to update any forward-looking statement.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
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