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West Omai PFS set for completion in March 2014 - Troy

6th August 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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KALGOORLIE (miningweekly.com) – Gold miner Troy Resources is aiming to finish a prefeasibility study (PFS) on its West Omai project, which it gained through the acquisition of gold explorer Azimuth Resources, by the March quarter of next year.

Speaking on the second day of 2013 Diggers and Dealers conference, Troy CEO Paul Benson noted that desktop scoping studies undertaken by Azimuth had considered a 1.5-million-tonne-a-year plant at West Omai, in Guyana.

“They were looking at a 1.5-million-tonne-a-year plant, and we might get there one day. But we will start with something smaller. I don’t know what it is yet, or what the capital costs would be,” Benson said, adding that the project parameters would be determined in the PFS.

The West Omai project currently has an inferred resource of 1.6-million ounces, grading 3.1 g/t gold, which also included a one-millioun-ounce resource grading 5 g/t gold. 

Apart from undertaking the PFS, Troy would also continue with ongoing exploration at West Omai, to further define the resource.

Meanwhile, Benson said that Troy was also still in the market for new acquisition or merger opportunities. He noted that the current gold market provided ample opportunities for companies with cash capabilities to combine with others that owned valuable asets.

Edited by Creamer Media Reporter

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