Karouni Project - (Troy 100%)
Recent Quarterly Results
- In mid–May, Diamond Core drilling with 2 rigs recommenced focused on Resource Infill at the Smarts Underground Inferred Resource. A limited number of assays have been received from the 12 holes completed including: 3m at 6.11g/t gold; 4m at 5.52g/t gold; 2m at 4.05g/t gold and 5m at 2.86g/t gold. Drilling is continuing.
Initial brownfields drilling will focus on nearby structures parallel to the Smarts-Hicks Corridor. The first two targets include:
- coincident magnetic and soil anomalies with a best channel sample of 2m at 3.2g/t gold and reconnaissance RC drill intercept of 3m at 5.08g/t gold; and
- a structural target that had limited reconnaissance drilling completed by Azimuth that included 2m at 185.66g/t gold; 1m at 12.82g/t gold; 1m at 9.78g/t gold and 1m at 7.08g/t gold.
- Both targets will be drilled during the September quarter.
The Karouni Project formally known as the West Omai Project is centred at 5º37’N and 59º05’W in the central-northern portion of Guyana. The Project lies approximately 180km south-southwest of Georgetown. The Karouni Project covers an aggregate area of 113,581 hectares; comprising granted small, medium and large scale tenements west of the Essequibo River
The Karouni Project is dominated by gently undulating terrain at elevations ranging from 50m to 100m above sea level. The area is drained by a dendritic network of moderately incised small streams and creeks. The Project area is veneered entirely by tropical lowland forest with the canopy height ranging from approximately 20m to 50m. Aside from logging tracks, the forest cover has essentially been preserved by very selective logging practices.