Troy Minerals stakes rare earths property, British Columbia

Troy Minerals Inc. [CSE-TROY; OTCQB-TROYF; FSE-VJ3] has completed the staking of a new property highly prospective for rare-earth elements. The property is 100% owned by the company and is unencumbered by any royalties at the present time. The property is located approximately 320 km north of Prince George, British Columbia and 170 km north-northwest of Mackenzie, B.C., on the western side of Williston Lake.

Highlights: Highly prospective property acquired through staking minimizing acquisition costs. Stream sediment sampling returned strongly anomalous REE concentrations from multiple creeks and drainages, including 3,647 parts per million TREE (total rare-earth elements) and 2,550 ppm TREE.

The project is unencumbered by any royalty or streaming contracts gives the company increased value and potential future financing optionality. Large property encompassing nine claims totalling 3,924.88 hectares, several mineral occurrences and the past-producing Family Farm mica mine.

Property benefits from good infrastructure and access. Access to the lower elevations is available by various logging roads from Mackenzie. Upper elevations will require the use of a helicopter.

The property encompasses several B.C. Minfile occurrences classified as muscovite pegmatites. The Family Farm occurrence is a past producer of muscovite mica from pegmatites, dating back to the 1920s. The occurrence comprises two concordant dikes of white pegmatite, intruding schist and consisting of mostly muscovite, quartz and feldspar. Accessory minerals include pyrite, tourmaline, garnet and kyanite. The West Mica Mountain prospect located 3.8 km southwest also reports large muscovite mica crystals up to 33 centimetres. These occurrences are hosted in quartzites and quartz-feldspar-muscovite schists of the Neoproterozoic Swannell formation.

“Our technical team was able to identify this great opportunity to add to our REE portfolio through staking in an area with a lot of REE potential,” said Rana Vig, president and CEO. “British Columbia is already Canada’s biggest producer of the critical metal copper, the only producer of molybdenum, and smelts other key critical minerals such as aluminum, zinc and germanium. British Columbia is an outstanding province for critical metal exploration,” he added.

Most recent exploration between 2006 and 2010 was focused on assessing the REE potential with surface geochemical sampling consisting of stream sediment, soil and rock sampling. Stream sediment sampling returned strongly anomalous REE concentrations from multiple creeks and drainages, including 3,647 ppm TREE (total rare earth elements) and 2,550 ppm TREE. Widely spaced soil sampling in the two main valleys returned several anomalous values of 809 ppm and 1,005 ppm from the western valley and 908 ppm and 867 ppm TREE from the eastern valley.

An initial phase of data compilation of the historical work will be followed by a field program to confirm historical concentrations and further assess the REE potential.

The company has extended its marketing contract with i2i Marketing Group LLC, previously announced on Nov. 24, 2023. The extension will be for 60 days or until fund exhaustion of US$150,000. The issuer and i2i Marketing Group are at arm’s length.

Additionally, the company also announced that it has engaged Global ATS Holding AG to provide European marketing services for 60 days or until budget exhaustion of 100,000 euros. The company will not issue any securities to Global in consideration for the marketing services and Global and the company deal at arm’s length.

Troy Minerals currently holds interest in four assets: the Lake Owen project (formerly SW2) is a highly perspective vanadium-, titanium- and iron-ore-rich project that consists of 91 mineral claims located approximately 50 km southwest of Laramie, Wyo., USA.

The Lac Jacques project is a drive-to project with close infrastructure located approximately 250 km north of Montreal, Quebec, Canada, and comprises 20 mineral claims totalling 1,170 hectares. The property hosts high-grade REE mineralization at the surface in a structurally controlled and steeply dipping carbonatite dike up to 25 metres thick with multikilometre potential.

The Green gold project, in which the company has the right to acquire a 100% interest, comprises 14 mineral claims with an aggregate area of 11,238 hectares in central British Columbia, Cariboo mining division, approximately 34 km southwest of Prince George.

The Ticktock project, a 1,065-hectare property located within the prolific Golden Triangle region of BC, lies 23 km northwest of the historic Eskay Creek mine and sits between Enduro Metals’ Newmont Lake property and Aben Resources’ Forrest-Kerr property.