Western Troy Provides Update on its MacLeod Lake Feasibility Study and its Gaspe Vanadium /Lead/Zinc Prospect in Quebec
17.07.2012 | The Newswire
July 17, 2012, Toronto, Ontario - Western Troy Capital Resources (TSX Venture: WRY, US-OTC: WTCRF) (Western Troy or the Company) herein provides an update on its MacLeod Lake final feasibility study as well as an update on its recently acquired Gaspe Vanadium/Lead/Zinc Prospect.MacLeod Lake:
As announced in April, the MacLeod Lake final feasibility study has been delayed. As part of the feasibility study process Western Troy has retained Roscoe Postle Associates of Toronto to review the study and work with Western Troy and GENIVAR of Montreal, the lead engineering contractor for study, to help ensure the objectives of the study are met. The goal is to generate a solid final feasibility study that will stand up to review by banks, potential investors, and Quebec and Federal agencies.
Gaspe Vanadium/Lead/Zinc:
As announced in April, Western Troy made application for map-staked claims on a sedimentary hosted Vanadium-Selenium-Silver-Lead-Zinc prospect in the Gaspe area of Quebec. A total of 100 claims covering approximately 5,000 hectares have been recorded. The claims cover Carboniferous aged sediments that have been recently found to host Sandstone type vanadium-selenium mineralization as well as Mississippi Valley type lead-zinc-silver mineralization.
A site visit was undertaken in June by Western Troy’s VP Exploration, Wayne Holmstead. Surface chip and channel samples taken. Results should be available in a few weeks. As noted in the April release, the Mississippi Valley type mineralization appears to be similar in style and genesis to lead-zinc-silver deposits in Carboniferous aged sediments in Newfoundland, Ireland and the Eastern United States. The mineralogy of the Gaspe prospect seems to be most similar to the Irish deposits. Western Troy is developing contacts with geologic consulting firms in Ireland that have extensive experience with this type of deposit. We expect to have one of these firms review the data and then possibly make a site visit to determine the most cost effective methods to explore the prospect.
About Western Troy: Western Troy’s shares trade on the TSX Venture Exchange under the symbol WRY. Western Troy has 33,589,970 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Mr. Claude P. Larouche, P. Eng. (OIQ, Quebec), has approved the technical data presented in the news release. Mr. Larouche is an independent consultant for Western Troy and acts as the Qualified Person under National Instrument NI-43-101.
Contact Information:
Western Troy Capital Resources
Rex E. Loesby, CEO
Tel: 416-929-3268
Email: Loesby@westerntroy.com