VANCOUVER, BC / ACCESSWIRE / December 11, 2024 / Troy Minerals Inc. ("Troy" or the "Company") (CSE:TROY)(OTCQB:TROYF)(FSE:VJ3) is pleased to announce the submission of a drilling permit application for the Table Mountain Silica Project in British Columbia. This key milestone supports Troy's strategic plan to evolve from an exploration-focused company into a revenue-generating mining operation, with production anticipated in the near term.
The permit application details a comprehensive drilling program, requesting approval for a program involving up to 34 drill holes in 2025, totaling approximately 1,700 meters of drilling in the first year, and an additional 20 holes planned in subsequent years, bringing the total to approximately 2,700 meters over the proposed five-year period, with provisions for additional exploration activities as needed. This phased approach enables Troy to methodically advance the Table Mountain project, ensuring alignment with both operational goals and market demand.
Strategic Advancement Towards Production
The submission of this permit application underscores Troy's commitment to expediting the development of the Table Mountain Silica Project. The planned drilling program is designed to delineate high-purity silica resources, providing critical data to support the transition into the production phase.
Yannis Tsitos, President of Troy Minerals, commented: "Submitting our drilling permit application for Table Mountain is a pivotal step in our aggressive strategy to evolve into a cash-flow-producing company. This initiative not only advances our British Columbia asset but also complements our broader portfolio, including the Tsagaan Zalaa Silica Project in Mongolia, as we aim to establish a significant strategic presence in the high-purity silica market in both North American and Asian jurisdictions."
Project Highlights and Next Steps:
Phased Drilling Program: Authorization for up to 34 drill holes in 2025, focusing on priority targets to define the silica resource, with flexibility for additional drilling in subsequent years.
Production Timeline: Drilling activities are integral to Troy's goal of initiating production at Table Mountain in the near term, contributing to the Company's transition into a revenue-generating phase.
Strategic Positioning: The project's proximity to key transportation and infrastructure hubs facilitates access to major markets, aligning with Troy's objective to become a leading supplier of high-purity silica.
Qualified Person
Technical information in this news release has been reviewed and approved by Case Lewis, P.Geo., a "Qualified Person" as defined under NI 43-101 Standards of Disclosure for Mineral Projects and a director of the Table Mountain Project vendor.
About Troy Minerals
Troy Minerals is a Canadian based publicly listed mining company focused on building shareholder value through acquisition, exploration, and development of strategically located "critical" mineral assets. Troy is aggressively advancing its projects within the silica (silicon), vanadium, and rare earths industries within regions that exhibit high and growing demand for such commodities, in both North America and Central-East Asia. The Company's primary objective is the near-term prospect of production with a vision of becoming a cash-flowing mining company to ultimately deliver tangible monetary value to shareholders, state, and local communities.
ON BEHALF OF THE BOARD,
Rana Vig | CEO & Director
Telephone: 604-218-4766
Email: rana@ranavig.com
Forward-Looking Statements
Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Troy Resources Inc. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of commodity prices, and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE: Troy Minerals Inc.
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