Sep 4th, 2012 Copyright (c) 2012 Thenewswire.ca - All rights reserved.
(via Thenewswire.ca)
September 4, 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 an Iron-Titanium prospect in the North Shore area of Quebec. A total of 50 claims totalling approximately 5000 hectares have been recorded.
The property is located approximately 8 kilometers north of the Lac Tio titanium mine operated (owned) by Rio Tinto. The Lac Tio deposit is a massive, coarse grained, sub-horizontal mineralized (igneous) sheet more than 60 m thick intruded into a large anorthosite-granite suite. It is essentially composed of coarse ilmenite (75%) and hematite (25%). The extracted ore contains 32 to 36% TiO2. Since 1950, an estimated 60 Mt of ore at 38.8% Fe and 33.6% TiO2 have been extracted from the open pit.
The claims staked by Western Troy cover half of the Lac au Vent deposit where a historical resource is estimated to be 27 million tonnes, with an iron-titanium content of 75-80% (GM-39822 Quebec Assessment Files). The resource estimate was made in 1982 using a combination of geophysical surveys and selective sampling of the mineralization. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources; the issuer is not treating the historical estimate as current mineral resources.
Two other properties with similar geophysical characteristics to the Lac Tio and the Lac au Vent have also been staked.
Planned work in 2012-2013 includes systematic surface examination and sampling of the properties followed by detailed geophysical surveys and diamond drilling.
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, Ing. (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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