TORONTO, ONTARIO--(Marketwire - Sept. 20, 2007) - Western Troy Capital Resources Inc. (TSX VENTURE:WRY)("Western Troy") announced that it has received assay results on an additional 26 holes drilled at its MacLeod Lake molybdenum copper project in Northern Quebec. These 26 holes, combined with the 15 holes previously announced totaled 4,712 meters of the 7,100 meter summer drilling program. Results from the final 2400 meters should be available within a few weeks.
The table below shows the significant intercepts along with a description of the meaning of each (depths and widths are in meters). The results indicate significant expansions of the Main and South Zones as well as the possible discovery of a new zone 3000 meters to the East of the Main Zone. These results, along with the assays from drilling not yet received, will be incorporated into a revised 43-101 resource calculation and released as soon as possible.
Western Troy has contracted with Scott Wilson Roscoe Postle Associates (SWRPA) of Toronto to generate a Preliminary Assessment (Scoping Study) of the economics of a potential mining operation at MacLeod Lake. SWRPA will build three dimensional models of the mineralization and build a mineral resource block model which will serve as the basis for pit optimization. A mine plan and schedule will be developed along with capital and operating cost estimates for mining, processing, infrastructure, environmental compliance and reclamation. Results of the Preliminary Assessment should be available in March of 2008.
Rex Loesby, President of Western Troy, commented, "The drilling program has achieved the goals we set which included intercepting ore grade mineralization in step-out holes on the fringe of the Main and South Zones as well as defining the limits of the existing resource in preparation for a Scoping Study. We also wanted to drill some wildcat holes to test some targets outside of the Main and South Zones. We hit a very high grade hole to the East of the Main Zone which validates our view that there continues to be good prospects for the discovery of additional mineralized zones along the 15 kilometer contact between the granodiorite and gneisses. We are excited to begin the Scoping Study as the next step in moving the MacLeod Lake Project along the road to production."
Main Zone Expansion Drilling: ----------------------------- Hole # From To Width Cu% Mo% ------ ---- -- ----- --- --- 158 9.00 14.02 5.02 0.497 0.009 North of Main Zone indicated resource & close to surface 170 17.02 32.06 15.04 1.014 0.060 West end of Main Zone indicated resource & high grade 171 18.99 27.00 8.01 0.423 0.025 39.97 42.99 3.02 0.424 0.035 55.05 57.00 1.95 0.828 0.028 SW end of Main Zone indicated resource 172 4.00 19.99 15.99 0.902 0.075 West end of Main Zone indicated resource, shallow, & high grade 173 7.50 15.00 7.50 1.010 0.057 21.53 23.53 2.00 0.491 0.002 West end of Main Zone indicated resource, shallow, & high grade 174 15.78 17.81 2.03 1.203 0.001 West end of Main Zone indicated resource, shallow, & high grade 176 10.99 23.19 12.20 0.276 0.012 34.93 47.06 12.13 0.303 0.081 61.93 78.00 16.07 0.383 0.065 East of Main Zone indicated resource 182 31.00 36.94 5.94 0.299 0.052 West of Main Zone indicated resource Holes 157, 159, 168, 169, 175, 177, & 178: No significant results. Generally below cutoff mineralization around the fringe of the Main Zone resource. South Zone Expansion Drilling: ------------------------------ Hole # From To Width Cu% Mo% ------ ---- -- ----- --- --- 151 47.02 51.00 3.98 0.187 0.309 North of South Zone resource & high grade 154 11.02 23.00 11.98 0.168 0.044 West of South Zone resource & low grade Holes 150, 152, & 153: No significant results. Generally below cutoff around the fringe of the South Zone resource. Target Testing Outside of Main & South Zones: --------------------------------------------- Hole # From To Width Cu% Mo% ------ ---- -- ----- --- --- 181 154.58 157.89 3.31 0.093 0.391 Test of target 3000 meters East of Main Zone High grade & may indicate new zone similar to South Zone The true width has yet to be determined Holes 149, 155, 156, 179, & 180: No significant results Test of targets 1200 to 200 meters from Main and South Zones
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 ALS Chemex preparation laboratory in Val d'Or, Quebec for sample prep and analysis for gold following which a pulp sample is sent to the ALS Chemex North Vancouver lab for ore grade analysis for silver, copper and molybdenum. ALS Chemex is an ISO 9001: 2000 registered laboratory with the North Vancouver lab accredited by the Standards Council of Canada to ISO 17025 levels. Company quality control procedures include the analysis of its own blanks, and duplicates, introduced among the batches of samples, in addition to those used by the laboratory for its routine testing. Samples are crushed to greater than 70% passing 10 mesh, and pulverized to greater than 85% passing 200 mesh. A fraction of the pulps is analyzed for gold by fire assay and AAS. Another fraction of the pulps is digested in aqua regia acid and ore grade silver, copper and molybdenum values are determined by AAS.
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 hosts a well defined Main Zone of mineralization as outlined by extensive drilling, as well as the South Zone and several IP anomalies of potential interest. In October of 2005, Western Troy received an independent Technical Report consistent with National Instrument 43-101 on its MacLeod Lake Property located about 275 km north of Chibougamau, Quebec. 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 has also entered into an Exploration and Development agreement with Aurum Exploration Inc. of Panama, to earn up to 70 percent of Aurum's interest in the Viento Frio Mineral Exploration Concession, District of Santa Isabel, Colon Province, Panama. The Viento Frio Concession consists of 10,363 hectares (104 square kilometers) of land that is prospective for gold and base metal mineral deposits. The property was explored by Minera Rayrock between 1999 and 2001. Rayrock collected 1,918 soil samples and drilled 24 shallow holes totaling 1710 meters. High silver values in the core and anomalous gold, silver, copper, lead, and zinc values in rock chip and soil samples over a large area indicate the Concession is prospective for a large lowsulfidation epithermal system as well as additional gold/silver deposits. 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Western Troy Capital Resources Inc.
Rex E. Loesby, P. E.