Troy Minerals announces airborne geophysics underway at Lake Owen, Wyoming
Troy Minerals Inc. [TROY-CSE] reported that the USGS (United States Geologic Survey) has begun flying an airborne magnetics and radiometric survey in Wyoming which includes the company’s Lake Owen project located approximately 50 km southwest of Laramie.
The Lake Owen project is a Proterozoic layered mafic intrusion complex with a long history of exploration for platinum group elements (PGEs). Similar in style to the Stillwater complex and the Merensky Reef of South Africa, the Lake Owen complex also holds world-class potential for vanadium and titanium resources.
The U.S. government has identified the Lake Owen complex as a potential source of strategic metals, including vanadium, titanium, PGE, and copper and nickel sulphides, and has budgeted an airborne program to better understand its geologic setting and mineralized potential. In a joint effort with the Wyoming Geologic Survey, the USGS will fly the entire area of the Lake Owen complex and include 100-metre line spacing over the company’s Lake Owen project. In conjunction with the Wyoming Geologic Survey, the USGS will have field crews on the property with a mandate that will include mapping, local gravity measurements, bedrock sampling and petrographic analysis.
“Coupled with our 2023 planned fieldwork, this USGS program will be a big boost to our exploration and targeting strategy for follow-up drilling,” said Bill Cronk, senior geologic adviser for Troy Minerals. “It’s very encouraging that the vast potential we saw in this project from the beginning, as a source of critical minerals for North America, is shared by the United States government’s critical minerals strategy. We are excited to work together with both the USGS and the Wyoming Geologic Survey to bring our common goals to fruition.”
Depending upon weather, the USGS plans to finish the program by the end of this year.
Troy Minerals is a mineral exploration company focused on the acquisition, exploration and development of mineral properties. The company currently holds interest in three assets: the highly prospective vanadium-, titanium- and iron ore-rich project that consists of 91 mineral claims located approximately 50 km southwest of Laramie, Wyoming. The property is a one-billion-tonne-plus target in a Proterozoic-layered mafic intrusive host with strong magnetite-rich cumulates, and accompanying vanadium/titanium (V/Ti) and platinum/paladium/gold/rhodium (Pt/Pd/Au/Rh)-bearing sulphide horizons; the Green gold project, in which the company has the right to acquire 100% interest, is composed of 14 mineral claims with an aggregate area of 11,238 hectares, and is located in central British Columbia in the Cariboo mining division, approximately 34 km southwest of Prince George; and the Ticktock project, a 1,065-hectare property located within the prolific Golden Triangle region of British Columbia, 23 km northwest of the historic Eskay Creek mine and sits between the Enduro Metals Newmont Lake property and the Aben Resources Forrest-Kerr property.