Western Troy Options Gold/Iridium Property to Alpaca Holdings, Stakes Claims on Lachabel Prospect
15 Dicembre 2010 - 8:19PM
Marketwired
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
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