First Phase Program Targets At Lake Owen Project

VANCOUVER - Troy Minerals Inc. reported that core drilling is underway on the Lake Owen project. The Lake Owen Project is in Wyoming, located approximately 50 km southwest of Laramie.

Troy’s drill program targets TiO2 and V2O5 mineralization associated with magnetite in gabbro. Two pad locations were selected for this first phase of drilling with at least one drill hole planned at each pad. Interpretative cross sections based on historical exploration (surface mapping, geophysical surveys, and drilling) at the selected pad locations. The drill holes will target the Lake Owen Intrusive with planned end of hole in the basement rocks.

Other potential mineralization styles include “Reef”-style platinum group element (PGE) horizons, as well as base metal mineralization at the base of the Lake Owen Complex. The Lake Owen Complex is a Proterozoic layered mafic intrusion complex with a long history of exploration for PGEs. Similar in style to the Stillwater Complex in Montana, USA and the Merensky Reef of South Africa, the Lake Owen Complex is a highly prospective North American-based target for critical metals like vanadium and titanium but also has strong potential for PGE enrichment and basal base metal mineralization.