PRODUCTION AND OPERATIONS UPDATE

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    Troy Resources Limited (ASX:TRY)(Troy or the Company) is pleased to provide a production
    and operations update in respect of the Company’s wholly owned Karouni Gold Project,
    Guyana.
    For the September Quarter, the Company treated 201,812 tonnes at an average grade of
    approximately 1.03 g/t Au with average recovery of approximately 95.4% for production of
    6,334 ounces.
    Production for the Quarter was in part affected by the wet season that endured longer than
    normal as well as travel restrictions resulting from the Covid-19 situation which prevented the
    return to site of many members of the senior management team. Importantly the Covid-19
    situation has improved with key management staff back to site which will likely have a positive
    impact on operations moving forward.
    The lower grade for this quarter reflects limited access to the higher-grade Hicks 4 ore as a
    result of the wet conditions, with throughput supplemented with the treatment of mineralised
    waste.
    Pleasingly, mining and processing activities have since returned to normal levels with much
    drier conditions now prevailing. The Company re-iterates FY2021 production guidance of
    35,000-40,000 ounces at an ASIC of US$1,450 – $1,550 per ounce.
    Work on underground designs, geotechnical studies and ore modelling in respect of the
    Smarts Underground is ongoing, with several geotechnical holes currently being drilled.
    Assays results from the second hole are imminent with the 3rd and final hole now drilled and
    also pending assays. The Smarts Underground maiden Reserve is on track for the Dec 2020
    Quarter.
    TROY RESOURCES ASX ANNOUNCEMENT
    TROY RESOURCES LIMITED 2
    Upgrade of tailings storage is nearing completion which will accommodate a further two years
    of ore processing.
    Meanwhile, Troy is also pleased to advise that the Company has hired a Senior Safety and
    Environmental specialist. The Company is also currently procuring a General Manager with
    experience in both open-pit and underground mining procedures.
    Further information concerning operations for the September Quarter will be set out in the
    September Quarterly Report to be released later in October when further information becomes
    available.
    This announcement has been authorised for release by the Managing Director

    courtesy of Bell Direct
    ==================================================================================

    DYOR

    i hold TRY

    still battling trying to make a profit when gold is at $US 1900 an oz.

    this sure as heck isn't no NST ( that can turn one mine into a multi-asset company )

    take care

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