par Troy Minerals Inc. (isin : CA8974711084)
Troy Minerals Reports Drilling Results from the Lake Owen Project, Wyoming. Critical Minerals inclusive of Scandium (Rare Earths Element) Discovered
VANCOUVER, BC / ACCESS Newswire / February 28, 2025 / Troy Minerals Inc. ("Troy" or the "Company") (CSE:TROY)(OTCQB:TROYF)(FSE:VJ3) is pleased to announce that its two-hole maiden drilling program at Lake Owen Project has been completed and assays of the first pass of selective sampling have been received. The 100% owned Lake Owen Project (the "Project") is located 50 km southwest of Laramie, Wyoming, USA (see Figures 1,2).
The Project is a Proterozoic layered mafic intrusion complex with a long history of sporadic exploration primarily for Platinum Group Elements. Similar in style to the Stillwater Complex in USA and the Merensky Reef of South Africa, the Lake Owen Complex is a highly prospective North American based target with a strong potential for significant vanadium, titanium, PGE and associated metals mineralization.
In Q3 2024, the Company drilled two diamond holes totalling 607.77 metres (see Table 1). The holes were scouting in nature, drilled near the southwestern claims boundary and they represent the first holes drilled by Troy Minerals on the Project (see Figure 3). This release is for all initial selective core samples for which analytical results have now been received. Follow up infill / continuous sampling results are pending and once received and processed, reported intersections will be recalculated.
Key Highlights
The two DDH holes at the Lake Owen Project targeted titanium (TiO2) and vanadium (V2O5) mineralization associated with magnetite in gabbro, as well as potential reef style PGE mineralization.
Although sampling along the holes was visually selective, associated with high magnetite zones, several anomalous zones of Titanium (>1%) have been encountered.
Elevated values of Vanadium are also associated with increased titanium enrichment.
Most importantly, associated with these anomalous zones, is elevated concentration of Scandium (Sc), a rare critical metal belonging to the REE group with no domestic supply in the United States.
"The first hole drilled by Troy at our Lake Owen project, from historical data knowledge, was planned targeting to intersect magnetite, titanium and vanadium mineralization; beyond that, it also revealed seriously elevated Scandium, a rare-earth element (REE), classified by the USGS as a critical metal." said Yannis Tsitos, President of Troy Minerals. "Scandium has green-energy technologies applications, but additionally it is the most effective known microalloying element that can strengthen aluminium, while also offering improved flexibility, resistance to heat and corrosion, and lighter weight, therefore Scandium finds applications in the space, military and civilian aviation industries. We have recently expanded our total Claims footprint over the mafic layered intrusion at Lake Owen in Wyoming to 185 Claims and Troy is currently designing the 2nd Phase, summer 2025, exploration program."
Figure 1. Lake Owen, Location Map, Wyoming, USA
Drilling Results & Exploration Outlook
Several anomalous zones of titanium (>1%) were encountered. Elevated values of vanadium are correlative with the titanium. Sampling was highly selective to assess various lithological units and all zones with magnetite content up to 15-20% and or visible sulfide mineralization. Magnetite content in the gabbro in hole LO24-01 is consistently about 5-10%. In LO24-01, the limited sampling to date suggests a large zone of titanium and vanadium-enrichment and higher relative values correlate with the green gabbro.
Figure 3. Drill Hole Locations on top of Geology and Company's Claims
Associated with these anomalous zones are elevated concentration of scandium. Anomalous values of scandium were found in sampled Mag Gabbro and especially with Green Gabbro zones containing >10% magnetite. Scandium is considered a critical metal by the United States Geologic Survey (USGS) and a rare earth element (REE). This presents an additional critical element with no current domestic supply. The USGS recognizes the critical metal potential of the Lake Owen Complex and flew an airborne survey over the entire complex in 2023, including all of Troy's claims. The high value of scandium coupled with the total dependence on the metal from China and Russia makes scandium a potentially high-value critical metal target for the Lake Owen Project.
Table 1: Drill hole specifications
Hole ID | Location (UTM Zone 13 North, NAD83) | Total Depth (m) | Orientation (°) | |||
Easting | Northing | Elevation (m) | Azimuth | Dip | ||
LO24-01 | 402871 | 4553588 | 2731 | 281.33 | 210 | -45 |
LO24-01 | 403004 | 4553382 | 2732 | 326.44 | 210 | -45 |
Drill hole LO24-01 was designed to test the extent of the Lower Mag Gabbro down to the basement contact. Drilling revealed a series of interlayered magnetic gabbro and a distinctive coarse-grained green gabbro. The green coloration is imparted by pyroxenes altering to chlorite. These layers are generally constrained to widths of less than 4 metres.
Table 2. Drill hole LO24-01 intersections
Hole ID | Intersection (m) 1,3 | TiO2 (%) 2 | V2O5 (%) 2 | Sc (ppm) | Lith Unit | ||
From | To | Length | |||||
LO24-01 | 28.35 | 29.93 | 1.58 | 1.744 | 0.120 | 42.1 | Green Gabbro |
46.63 | 48.46 | 1.82 | 1.710 | 0.103 | 46.6 | Mag Gabbro | |
67.97 | 70.71 | 2.73 | 1.616 | 0.092 | 44.9 | Mag Gabbro | |
91.44 | 94.18 | 2.73 | 1.626 | 0.101 | 45.2 | Mag Gabbro | |
112.53 | 115.61 | 3.08 | 1.303 | 0.080 | 42.9 | Altered Gabbro | |
141.43 | 144.17 | 2.74 | 1.224 | 0.076 | 38.4 | Mag Gabbro | |
171.30 | |||||||