Troy Resources gets license for Karouni gold project

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[www.inewsguyana.com] – One of Guyana’s more promising gold mining companies – Troy Resources – has recently acquired its Mining License for the Karouni Gold project.

With this license, the company is now in a position to proceed to the advanced stages of project development, including plant construction and pre-strip mining operations.

Troy Resources Chief Executive Officer (CEO), Martin Purvis said the Company recognised the support and commitment it had received from the Guyanese Government in processing the license.

“With the final stageof permitting now complete, and all major components for construction on site, Troy isnow only a matter of months away from commencing production at Karouni.”

According to a release from the Company, the issue of the license also completes the list of conditions and requirements for Troy’s $30 million Tranche B Facility with Investec Bank.

Troy Resources has been operating in South America since 2002 and following the development of the Casposo project in Argentina, entered a renewed growth phase which has lifted the Company’s annual gold production above 100,000oz of gold per annum.

In July 2013 the Company acquired Azimuth Resources Limited which had discovered and delineated the Karouni Project, a high-grade gold Deposit in Guyana.

The Company is reportedly expediting the development of Karouni and expects first production before the end of the 2015 fiscal year.

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