TORONTO, ONTARIO--(Marketwire - Dec. 1, 2009) - Western Troy Capital Resources Inc. (TSX VENTURE:WRY) ("Western Troy") is pleased to announce it has made application for 6 claims in the North Shore area of Quebec. The six claims are located near Lac Volant, about 80 kilometers northeast of Sept Isles. The Lac Volant area has been explored in the past for copper, nickel and platinum group mineralization. Lake sediment surveys performed by the Quebec government have revealed the area is also host to anomalous rare earth mineralization. According to the Quebec government report (GM64290, 2009), anomalous values of the rare earth element Yttrium lie within a 10 by 12 kilometer area in lake sediment samples. A lake sediment sample in the claim group was found to contain approximately 0.9% total rare earths including 5060 ppm Cerium, 2544 ppm Yttrium and 372 ppm Lanthanum. The sample also contained anomalous values in uranium, thorium, niobium, tungsten, palladium, and samarium.
Quebec Exploration in 2010: Western Troy plans a number of exploration activities in Quebec for 2010. At its Schefferville Gold Prospect, Western Troy plans geophysical and geochemical surveys on a number of targets, including the area of recent drilling where anomalous gold values were reported (see Western Troy Press Release dated October 30, 2009). The objective of the program will be to determine the geophysical and geochemical signature in the area of the gold, lead and zinc mineralization, as defined by diamond drilling completed in September 2009. This model will then be used to generate additional drill targets. At its Strange Lake Rare Earths Prospect, Western Troy plans a program of surface sampling and mapping. Depending on the results, a program of geophysics and drilling may follow. A similar program will be undertaken at Western Troy's Lac Volant Prospect described above. Finally, Western Troy plans a drilling program at its Galloway molybdenum prospect in Southeastern Quebec. These plans may be modified as the year progresses as there may be opportunities for joint venture partners to fund some of these programs, and other opportunities may arise. Total exploration spending is planned at $1 million.
About Western Troy: Western Troy Capital Resources Inc. is a mineral exploration company. Its 100% owned MacLeod Lake Project, located about 275 km north of Chibougamau, Quebec, hosts a well defined Main Zone of mineralization as outlined by extensive drilling. In addition, a South Zone resource and several IP anomalies of potential interest have been identified. In April of 2008, Western Troy received an independent Preliminary Assessment (Scoping Study) consistent with National Instrument 43-101 on its MacLeod Lake Property. The report has been filed on SEDAR and is available at www.SEDAR.com and on Western Troy's website, www.WesternTroy.com. Western Troy also has a number of early stage molybdenum, copper, gold, rare earths, uranium, platinum, and other minerals exploration properties in Quebec. The shares of Western Troy trade on the TSX Venture Exchange under the symbol WRY, with 19,284,970 shares outstanding.
This press release contains certain forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: risks related to mining and exploration operations; risks related to joint venture operations; actual results of current exploration activities; changes in project parameters as plans continue to be refined, future prices of resources; possible variations in reserves, grade or recovery rates; accident; labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Rex E. Loesby, P.E., is the qualified person that has reviewed the content of this press release.
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