(via Thenewswire.ca)
April 10, 2012, Toronto, Ontario - Western Troy Capital Resources (TSX Venture: WRY, US-OTC: WTCRF) (Western Troy or the Company) announced today it has 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 totalling 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.
The property appears to present a unique exploration opportunity in Quebec. The Carboniferous aged sedimentary basin covers an area of approximately 250 square kilometres in the Gaspe area of Quebec. The mineralized showing was discovered by previous owners by visual prospecting in 2005. No work appears to have been done on the property prior to 2003. The property has not seen systematic geological mapping, geochemistry, geophysics or diamond drilling.
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. All of these regions are close to the Iapetus Suture related to the opening of the Atlantic rift and continental plate movements.
The mineralization is contained in near-horizontal sedimentary horizons. The mineralized zone has been traced for approximately 150 meters along the bank of a river and is open in both directions. A similar mineralized section has been located approximately 800 meters northwest along strike and may be the same horizon or a similar parallel sedimentary layer. A major fault structure passes beneath the sedimentary basin in the vicinity of the river bed and mineralization.
A total of 22 historical, representative grab samples were taken on the mineralized showing over a strike length of 150 meters. Twelve samples were taken by the original owners of the property (Quebec Assessment Files GM63273) and 10 samples were taken by another independent company that was examining the property (Quebec Assessment Files GM64643). Both sets of samples were analyzed at different laboratories and no discrepancies were noted. Below is a summary of the results:
Vanadium was greater than 1.0 percent in 13 of the samples and greater than 0.1 percent in 17 of the samples. The detection limit for the analysis method was 1.0 percent and no further analyses were reported. However the average of all 22 of the samples appears to be 1.0 percent or greater.
Lead was greater than 0.1 percent in 16 of the samples. The average of all 22 samples was greater than 1.3 percent and the highest analysis was 8.75 percent.
Zinc was greater than 0.1 percent in 10 of the samples. The average of all 22 samples was 0.16 percent and the highest analysis was 0.61 percent.
Silver was greater than 1 gram/ton in 17 of the samples with an average of 13 grams/ton in all 22 samples. The highest silver value was 68.4 grams/ton.
Selenium was analyzed in 3 samples and 2 of them were greater than 0.1 percent. At the mineralized showing 800 meters to the northwest, all three samples that were analyzed for selenium were found to be greater than 0.1 percent.
Chromium averaged 0.14 percent with one sample greater than 1.0 percent.
Summary of Analyses
Commodity#SamplesAvg. GradeHighWidth
Vanadium22>1.0%>1%not determined
Lead221.3%8.75%not determined
Zinc220.16%0.61%not determined
Silver2213 g/t68.4 g/tnot determined
Selenium3>0.1%>0.1%not determined
Chromium220.14%>1%not determined
Work on the property in 2012 may include complete re-sampling of the known showings, geological mapping, geochemical surveys, geophysical surveys and eventually diamond drilling. The purpose of the work will be to explore the extent of the known mineralized horizon and discover new zones.
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
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