Troy Minerals Inc Stock Price, News & Analysis

Troy Minerals Inc. (CSE:TROY)(OTCQB:TROYF) announces key leadership changes as part of its transition from exploration to cash flow production. Yannis Tsitos, a 35-year mining industry veteran and former BHP executive, has been appointed as President, while Rana Vig continues as CEO. Tsitos brings extensive experience from working in 32 countries, including Mongolia, and has been instrumental in over 50 exploration and mining agreements. The company also engaged Hillside Media & Consulting for a 30-day digital marketing campaign at $20,000 to increase corporate awareness.

Troy Minerals announces the restart of drilling at its Tsagaan Zalaa Silica Project in Mongolia, targeting completion of a minimum 1,000-meter drill program by year-end 2024. This milestone is important for the mining license submission. The project, located near the Mongolian-Chinese border, features outcropping or sub-outcropping silica mineralization, enabling shallow drilling campaigns. Environmental studies, including archaeological and paleontological assessments, were completed in October 2024. The company aims to transition to production in 2025, positioning itself to serve Asia's growing high-purity silica market for green technology and high-tech industries.

Troy Minerals has completed its initial exploration program at the Table Mountain Silica Project near Golden, B.C. The company conducted a comprehensive surface sampling program targeting high-purity silica mineralization in the Mount Wilson Formation quartzite units. Samples have been sent to ALS Laboratories in North Vancouver for analysis of silica content and other constituents.

The Table Mountain Silica Project spans 1,698 hectares with up to 10 kilometers of mapped strike length and surface widths ranging from 300 to 1,400 metres. The property benefits from year-round access and proximity to the Canadian Pacific Railway Golden Rail Yard.

Troy Minerals has signed a definitive agreement with CBGB Ventures Corp. to acquire 100% of CBGB's shares in consideration for 3,244,151 Troy common shares and 9,732,454 special warrants. CBGB holds the Table Mountain Silica Project in British Columbia and will gain up to 80% equity in Grand Samsara Development 's Tsagaan Zalaa Silica Project in Mongolia. Special Warrants will convert into shares upon achieving specific milestones. The transaction requires CBGB shareholder approval and completion of due diligence. The common shares will be subject to resale restrictions from six months to three years.

Troy Minerals has completed a soil sampling program on its REE Lac Jacques project in Quebec. The sampling extended the surveyed area from the Western Grid toward the Eastern Grid. A total of 312 B-soil samples were collected and are now submitted for analysis at ACT Labs. The results are expected to help define drill targets for the upcoming summer drill program in 2024, which plans to include eight holes totaling 3200 meters. Chief Geologist William Cronk emphasized the importance of these results in verifying the REE system's potential. CEO Rana Vig highlighted the increasing global demand for rare earth elements and the strategic importance of stable supply chains, noting recent actions by the Canadian government. The project is located 250 km north of Montreal and has undergone initial surveys and a 4-hole drill program in 2023.

Troy Minerals has announced its congratulations to Homerun Resources for developing a femtosecond thermal laser processing method that achieves 99.999% purity in raw silica sand. This breakthrough, achieved in collaboration with the University of California, Davis, marks a significant advancement in the field of critical and energy materials. The new method is environmentally friendly, avoiding the use of hazardous chemicals and energy-intensive machinery. Applications for this high-purity silica include semiconductor chip substrates, electronic and photonic chips, battery anodes, and solar cells. Troy Minerals' President and CEO, Rana Vig, highlighted the importance of such innovations in driving industry progress.

Troy Minerals has announced the recognition of silica as a critical mineral by the Canadian government, strengthening its position in the critical minerals sector. The company is set to acquire CBGB Ventures, which manages two high-purity silica projects: Table Mountain in Canada and Tsagaan Zalaa in Mongolia. With silica's importance in modern tech and green energy, Troy aims to lead in the $30 billion high-purity quartz silica market by 2030.

To expedite project advancement, Troy plans to raise $3 million through non-brokered private placements. A $2 million offering includes 8 million units at $0.25 each, with attached warrants, while a $1 million flow-through unit offering includes 3.57 million units at $0.28 each. Closing is contingent on regulatory approvals.

Troy also engaged Lakefront Enterprises for a 30-day digital marketing campaign, costing $50,000, to boost corporate visibility.

Troy Minerals (CSE:TROY, OTCQB:TROYF, FSE:VJ3) has signed a binding letter of intent to acquire CBGB Ventures Corp., a company with interests in two high-purity silica projects located in British Columbia and Mongolia. This acquisition aligns with Troy's strategy to diversify its critical minerals portfolio. The transaction involves issuing 6,488,303 common shares and 6,488,303 special warrants to CBGB shareholders, with some shares subject to hold and escrow provisions. The two projects, Table Mountain Silica Project in B.C. and Tsagaan Zalaa Silica Project in Mongolia, have shown high SiO2 purity levels, important for microchips and green technologies, particularly solar photovoltaics. This acquisition aims to capitalize on the growing demand for silica in North America and Europe, driven by concerns over China's dominance in silicon production. The integration of these projects is expected to enhance Troy's ability to generate cash flow and self-fund future exploration activities.

Troy Minerals has received final permits for the 2024 drilling campaign at the Lake Owen Project in Wyoming. The Lake Owen Complex, identified by the US government as a potential source of strategic metals like vanadium, titanium, PGE, and copper-nickel sulfides, underwent extensive geophysical surveys by USGS and Wyoming Geologic Survey at no cost to the company. Expected to begin drilling by the end of June or early July 2024, the program aims to test high-grade targets, including magnetite-rich gabbro with potential for significant mineralization. Results from the USGS survey will be announced soon.