Troy Minerals posts drill results from Lake Owen Project, Wyoming

Troy Minerals Inc. [CSE: TROY; OTCQB: TROYF; FSE: VJ3] reported that complete results from Hole LO24-01 show strong critical metal mineralization over continuous 240.73 metres (from 10.67 metres to 251.40 metres) from its maiden drilling program on its 100%-owned Lake Owen Project located 50 km southwest of Laramie, Wyoming, USA.

The project is a Proterozoic layered mafic intrusion complex historically explored for Platinum Group Elements (PGE). Similar to the Stillwater Complex in the USA and the Merensky Reef of South Africa, the Lake Owen Complex shows strong potential for vanadium, titanium, PGE, and associated metals.

In late 2024, the company drilled two diamond holes totaling 607.77 metres near the southwestern claims’ boundary, marking Troy Minerals’ first drill holes on the Project. These holes targeted titanium (TiO₂) and vanadium (V₂O₅) mineralization linked with magnetite in gabbro, as well as reef-style PGE mineralization.

A first pass of selective sampling of the drill holes had been carried out and demonstrated presence of anomalous titanium and vanadium mineralization. Elevated values of vanadium are correlative with the titanium. Sampling was selected to assess various lithological units and all zones with magnetite content up to 15-20% and/or visible sulfide mineralization. Magnetite content in the gabbro in hole LO24-01 is consistently about 5-10%. In LO24-01, the initially limited sampling suggested a large zone of titanium and vanadium-enrichment and higher relative values correlate well with the green gabbro. Associated with these anomalous zones have been elevated concentrations of scandium.

Based on these initial results, additional infill sampling through all prospective lithologies was carried out by Company personnel in January, 2025. Results exhibit robust critical metal mineralization over 240.73 meters in hole LO24-01, including 1.53% TiO_2, 0.10% V₂O_3, 16.0% Fe (total Iron, mainly in Fe Oxides), 69.7 ppm (or g/t) Sc₂O_3, and 26.2 ppm (or g/t) Ga₂O₃.

Concurrent with company infill sampling, geologists from the USGS and Wyoming State Geological Survey (WSGS) collected samples for Whole Rock, Major Oxides, and thin section analyses. Results of the USGS and WSGS work are pending.

“Our recent geological and geophysical findings, coupled with promising initial drilling results, are significantly enhancing our confidence in the Lake Owen Project. Each new insight reinforces our belief that this project deserves a robust exploration budget in the near future.” said Yannis Tsitos, President of Troy. “Beyond the historically recognized high grades of iron, titanium, and vanadium, the recent discovery of scandium and gallium-critical metals essential for applications in metal alloys, military and civil aviation, semiconductors, electric vehicles, and solar panels-underscores the project’s immense potential for both our company and the State of Wyoming in USA.”

Drill hole LO24-01 was designed to test the extent of the Lower Mag Gabbro down to the basement contact. Drilling revealed a series of interlayered magnetic gabbro and a distinctive coarse-grained green gabbro. The green coloration is imparted by pyroxenes altering to chlorite. These layers are generally constrained to widths of less than 4 metres.

Drill hole LO24-02 intersected gabbroic units that are weakly magnetic and contain no anomalous values of titanium, vanadium, or scandium. This drill hole was collared deeper in the sequence than hole LO24-01; further down dip and stratigraphically lower in the Lower Mag Unit.

Only a very small portion of the Lake Owen Complex and therefore the claims have been drill-tested to date. As currently mapped, the prospective Lower Mag Gabbro unit continues along strike to the west. The company has yet to drill test the stratigraphically higher Upper Mag Gabbro. Surface mapping and sampling in 2023 identified two massive magnetite rock samples that returned 8.812% TiO₂ and 0.548% V₂O_5, and 15.505% TiO₂ and 0.586% V₂O₅ respectively. These represent priority drill targets for 2025. An historical drill hole was completed here not by Troy, but there was no assessment of titanium, vanadium, or scandium.

Troy Minerals is planning its summer fieldwork for the Lake Owen Project. After analyzing airborne geophysical data, Troy will collect soil samples and conduct geological mapping and sampling. The aim is to refine drill targets for the 2026 season, including a relevant drilling pads application.