Western Troy Options Gold/Iridium Property to Alpaca Holdings, Stakes Claims on Lachabel Prospect
TORONTO, ONTARIO -- (Marketwire) -- 12/15/10 -- Western Troy Capital Resources (TSX VENTURE: WRY) (Western Troy or the Company) announces it has signed an option agreement with Alpaca Holdings involving 4 claims Western Troy had staked on a gold-iridium occurrence located about 120 kilometers northeast of Quebec City on the north shore of the St. Lawrence River.
Under the agreement, the 4 Western Troy claims are combined with 52 claims owned by Mundiregina Resources and optioned to Alpaca Holdings Corporation for a cash payment of $10,000, 400,000 shares and a 1% NSR, to be split on a 50/50 basis between Western Troy and Mundiregina Resources.
Historical records indicate that a group of ten quartz veins were discovered in the 1950's. The veins were found to be 0.3 to 5 meters wide and traced for up to 230 meters along strike. Two samples taken in the late 1950's and early 1960's assayed values in gold (0.62 and 0.80 oz/ton) and iridium (0.26 and 0.31 oz/ton) (GM11551, Quebec Assessment Files).
Lachabel Prospect: Western Troy recently staked 9 claims on the Lachabel Prospect. The property is located in the Mont Laurier area of Southern Quebec. Past work yielded assays of 12% copper, 7.7% tungsten, 16 g/t silver, 444 ppm bismuth and the mention of molybdenum. A nearby sample taken by another company assayed 0.8% uranium, 6.3 g/t gold, 0.92% niobium, 725 ppm tantalum and 0.55% yttrium. (GM59949, GM63529, Quebec Assessment Files). The model seems to be skarn mineralization on the margin of an alkali intrusion. This type of mineralization appears to be similar to Western Troy's MacLeod Lake property which includes copper, molybdenum, gold and silver mineralization but also contains anomalous values in tungsten and bismuth. Western Troy prospecting crews will make a site visit during the Spring 2011 season.
About Western Troy: Western Troy's shares trade on the TSX Venture Exchange under the symbol WRY. On closing of the above private placements, Western Troy has 32,904,970 shares outstanding. More information on Western Troy can be found on its Website at www.westerntroy.com.
Forward Looking Statements: Statements in this release that are forward-looking reflect the Company's current views and expectations with respect to its performance, business, and future events. Such statements are subject to various risks and assumptions, some, but not necessarily all, are disclosed elsewhere in the Company's periodic filings with Canadian securities regulators. Such statements and information contained herein represent management's best judgment as of the date hereof based on the information currently available; however actual results and events may vary significantly. The Company does not assume the obligation to update any forward-looking statement.
Mr. Eddy Canova, P.Geo. (OGQ 403), is the qualified person who has reviewed the content of this press release.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Western Troy Capital Resources
Rex E. Loesby
CEO
416-929-3268
RexLoesby@aol.com