Troy Minerals Begins Planning To Advance Its Highly Perspective Vanadium – Titanium - Iron Project
TROY MINERALS BEGINS PLANNING
TO ADVANCE ITS HIGHLY PERSPECTIVE
VANADIUM – TITANIUM - IRON PROJECT
June 8, 2023 – Vancouver, B.C., Troy Minerals Inc. (“Troy” or the “Company”) (CSE: TROY) is pleased
to announce that the company’s technical team has begun work on planning its 2023 drill program on the
SW2 Project in Wyoming, USA located approximately 50km southwest of Laramie, Wyoming (The
“Property”).
“We are excited to begin the process of carefully planning an effective strategy to unlock the vast potential of our
SW2 project, which has largely been ignored and idle for many years,” said Rana Vig, President & CEO of Troy
Minerals. “One of the secrets of building a strong company is to identify, acquire, and advance an overlooked asset,
which is exactly what we believe we have here - a property that has the potential to become an important source for
Vanadium, a critical element in long term storage batteries” he added.
The SW2 Project occupies the lower portions of the Lake Owen mafic to ultramafic layered intrusive complex
(LOC). The LOC occurs as a steeply-dipping, layered intrusive near the margin of the Wyoming Craton about
50 km southwest of Laramie, Wyoming (figure 1).
Figure 1
The project lies entirely on federal land that is administered by the US Forest Service within the Medicine Bow
National Forest. 1600 acres of mineral rights are secured by 91 unpatented lode mining claims.
The discovery of the Stillwater PGE resource stimulated regional exploration. The Lake Own complex (though
Proterozoic vs. Stillwater’s Archean age) shows remarkable similarity to Stillwater and was explored as PGE
first priority. The results from preliminary work by Chevron Minerals (1980’s) and Trend Mining (2002-2007)
show that there are several layers of PGE-bearing sulfides that are on the order of 1-5 m in apparent thickness
and several layers of magnetite rich cumulate with significant Vanadium and Titanium that are on the order of
90-240 m in true thickness (Loucks, 1989). The magnetite, vanadium, and titanium contents are not well-
quantified yet because they were not the focus of the historic drilling program.
Initial drilling by Chevron, and surface mapping by Trend, confirmed the presence of magnetite-rich layers of
cumulate rock, containing vanadium, titanium and iron mineralization, products which have been mined
economically in the Bushveld Complex in South Africa. Chevron's program first identified the upper horizons,
and, by the time the lower horizons were found, the oil company parent was exiting the minerals business. As
a result, the lower portions of the Lake Owen complex are considered highly prospective but have had little
work, and no exploration efforts have yet been focused on evaluation of magnetite mineralization.
Average V2O5 content is 1.0 to 1.4% (Loucks R.R. and Glasscock, J.W., 1989).
In 1989, Chevron Minerals calculated a resource estimate at 1.4 billion tons of titano-magnetite ore with 1.2%
to 1.45% V2O5 and 62% iron (non 43-101 compliant). (Loucks, Robert R., 1989, Lake Owen Layered Mafic
Igneous Complex, Albany County, Wyoming: Geology, Vanadiferous Magnetite Deposits, and Platinum-Gold
Mineralization, prepared for Chevron Resources, 29 p).
The foregoing mineralization estimates were not prepared in accordance with current NI 43-101 standards and
there is no current mineral resource on the Property. A qualified person has not done sufficient work to classify
the historical estimates as a current mineral resource. The Company is not treating these historical estimates
as a current mineral resource.
High Ilmenite content within the magnetite serves to add over 1% TiO2 value to potential ore as well.
Plans for this year include a 4-hole drill program designed to test several layers of cumulate for vanadium,
titanium, iron, and PGE bearing sulfides at the tops (Reefs) of the cumulate layers. Two diamond core holes
will be drilled from two sites (figure 2 and 3). Further drilling will proceed based on results.
Figure 2
Figure 3
QUALIFIED PERSON
The technical information contained in this news release has been reviewed and approved by William Cronk,
BSc, P.Geo., who is a qualified person as defined under National Instrument 43-101.
ON BEHALF OF THE BOARD,
Rana Vig | President and Director
Telephone: 604-218-4766
Email: [email protected]
About Troy Minerals Inc.
Troy Minerals is a mineral exploration company focused on the acquisition, exploration, and development
of mineral properties. The company currently has three properties: the Green Gold Project comprised of
twelve (12) mineral claims with an aggregate area of 7,587 hectares located in central British Columbia in
the Cariboo Mining Division, approximately 34 kilometers (km) southwest of the city of Prince George; the
1065-hectare Ticktock Property located within the prolific Golden Triangle region of British Columbia,
Canada which lies 23km northwest of the historic Eskay Creek Mine and sits between the Enduro Metals
Newmont Lake property and the Aben Resources Forrest-Kerr property; the SW2 property consisting of 91
mineral claims located approximately 50km southwest of Laramie, Wyoming USA - a one billion tonne
plus target in a Proterozoic Layered Mafic Intrusive host with s trong magnetite-rich cumulates and
accompanying V/Ti and Pt/Pd/Au/Rh-bearing sulfide horizons.
Forward-Looking Statements
Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other than statements of historical facts, that address events
or developments that Troy Resources Inc. (the "Company") expects to occur, are forward-looking statements. Forward-
looking statements are statements that are not historical facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or
that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the
expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results may differ materially from those in the forward -looking
statements. Factors that could cause the actual results to differ materially from those in forward-looking statements
include results of exploration activities may not show quality and quantity necessary for further exploration or future
exploitation of minerals deposits, volatility of commodity prices, and continued availability of capital and financing,
permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any
such statements are not guarantees of future performance and actual results or developments may differ materially
from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates
and opinions of the Company's management on the date the statements are made. Except as required by applicable
securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that
management's beliefs, estimates or opinions, or other factors, should change.
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the
adequacy or accuracy of this news release.