Western Troy Encouraged After Examination of Galloway Molybdenum Prospect

Western Troy Encouraged After Examination of Galloway Molybdenum Prospect

Western Troy Capital Resources Inc. announced that its VP of Exploration, Wayne Holmstead, visited the Galloway Molybdenum Prospect located approximately 200 kilometers east of Montreal in Southeastern Quebec. The visit confirmed Western Troy’s earlier assessment that the prospect has the potential to host significant molybdenum mineralization as indicated by historic stream and soil sampling. Western Troy’s investigation of the prospect has also included historic data research. This research resulted in the discovery of a 1980 magnetometer survey on the prospect area that indicates the area of interest is much larger than was indicated by the geochemical sampling data.

A Quebec Government stream sediment survey initially found anomalous molybdenum values (up to 180 ppm) in stream sediments on the property. Subsequent work was done by various companies, the most significant being work done by the Canadian Nickel Company in 1980. Canadian Nickel performed magnetic, VLF-EM and induced polarization geophysical surveys in the vicinity of the stream sediment anomalies. They also performed a soil geochemical survey and found a 500 by 250 meter anomalous area with values up to 228 ppm (see attached map). Over 10 ppm is considered anomalous. There is no outcrop in the vicinity of the anomaly and there is no visible or historic evidence the anomaly has been drilled in the past. The magnetic survey detected a linear anomaly over 1000 meters long and open on both ends close to the contact between metasediments and granitic rocks. The magnetic anomaly was also coincident with the high values of molybdenum in the soils, but it also extends north of the area of the soil anomalies and is more intense in the northern extension. Western Troy plans to verify and extend the historical data in the near future. If the results are positive, a drilling program may be warranted to test the anomaly.

The property is 2 km south of a former molybdenum producer with non 43-101 compliant resources of molybdenum mineralization in a similar geological environment and 2.5 km north of a zone of molybdenum mineralization with non-43-101 compliant resources also in a similar geological environment. The molybdenum mineralization in the area is associated with Devonian granites similar to the Gaspe Copper mine near Murdochville, where a number of Cu-Mo skarns and porphyries were mined for several decades.

Mr. Holmstead also visited two other prospects in Southeastern Quebec, the Portneuf Mo-Rare Earth Element Prospect and the Stukely Prospect. At Portneuf, the site visit did not result in encouraging results. Readings taken with a hand held XRF instrument showed results of less than 100 ppm in Molybdenum. No rare earth elements were detected. At Stukely, no encouraging results were obtained. Western Troy will not do any further work on these 2 properties.

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