Troy Minerals Provides Projects Update
- Expansion of Lake Owen Project from 714 to 1,424 hectares
- High concentrations of vanadium pentoxide, titanium dioxide, and scandium discovered at Lake Owen
- Strategic location of Tsagaan Zalaa project near Mongolia-China border
- Federal backing from USGS for Lake Owen Project
- Expected mining license for Tsagaan Zalaa in Q2 2025
- Maiden resource estimate for Table Mountain expected in Q2 2025
- None.
VANCOUVER, BC / ACCESS Newswire / May 15, 2025 / Troy Minerals Inc. ("Troy" or the "Company") (CSE:TROY)(OTCQB:TROYF)(FSE:VJ3) is pleased to provide an update on the progress of its initiatives and exploration activities across its four different critical minerals projects, aiming at maximizing shareholder value.
"It has been six months since I have joined the Company and I am excited to say that considerable energy and the focus of our team, consultants and contractors have paved the way to achieve certain milestone targets within 2025." said Yannis Tsitos, President of Troy Minerals. "We are blessed as a Company to hold in our portfolio four high-quality critical mineral projects; they make Troy unique in that in the rare commodities we are pursuing, our projects are strategically located near key infrastructure we have presence in both high-demand jurisdictions of the world, North America and Central-East Asia."
Table Mountain Silica Project, BC, Canada
Troy is working towards completing within Q2 2025 a maiden resource estimate for its
Figure 1. Location Map showing TransCanada Highway crossing Troy's Project
Targeting to establish Table Mountain as a significant high-purity silica deposit in British Columbia, the completion of this milestone in the coming weeks should mark a major milestone in Troy's development of this critical mineral asset. The resource is comprised of an extensive quartzite (silica) bed of the Ordovician Mount Wilson Formation.
The Company has identified broad high-purity silica zones at Table Mountain and announced on January 2025, the expansion of the Table Mountain titles and on February 6, 2025 positive analytical results from a sampling and mapping exploration program over the project. Troy is also currently defining the summer 2025 field program.
Tsagaan Zalaa Silica Project, South Mongolia
All required process steps have now been completed and Troy Minerals is anticipating within Q2 2025 to receive a mining license from the government of Mongolia. On February 12, 2025, the Company announced the submission of its mining license application to the Ministry of Industry and Mineral Resources of Mongolia for the Tsagaan Zalaa Silica Project ("Tsagaan Zalaa") by Grand Samsara Consulting LLC ("Grand Samsara"), the Company's partners in Mongolia,. This key milestone underscores the Company's commitment to advancing the project towards production and transforming Troy into a cash-flowing entity.
Located in southern Mongolia, 200 km from the Mongolia-China border, the Tsagaan Zalaa Silica Project is strategically positioned to serve the growing regional demand for high-purity quartz silica ("HPQ"). This process represents a critical step in unlocking the project's potential and advancing Troy's broader strategy of establishing itself as a key player in the HPQ market.
Figure 2. Grand Samsara's Geologist on top of HPQ Quartz Vein at Tsagaan Zalaa.
Lake Owen Vanadium, Titanium and Scandium Project, Wyoming, USA
The Lake Owen project, located 50 km southwest of Laramie, Wyoming, is an early-stage exploration asset with strong potential for vanadium, titanium, and other critical minerals. Covering 1,424 hectares, the project sits within the Proterozoic Lake Owen mafic to ultramafic layered intrusive complex-geologically favorable for titanomagnetite-hosted mineralization.
Troy Minerals has announced on February 20, 2025 a strategic expansion of its Lake Owen Project, significantly increasing its land position in this highly prospective region. The project has effectively doubled in size-from 714 hectares to 1,424 hectares-through the addition of adjacent claims secured via recent targeted staking.
Recent maiden drilling results have confirmed the presence of high concentrations of vanadium pentoxide (V₂O₅) and titanium dioxide (TiO₂), along with the discovery of scandium, significantly enhancing the project's critical mineral profile.
Figure 3. Scandium Rock Geochemistry over High-Resolution Magnetics at Lake Owen
Lake Owen is supported by the US Geological Survey (USGS)'s Earth MRI (Earth Mapping Resources Initiative), which is delivering key geoscientific data and helping reduce exploration costs. As part of this initiative, a high resolution airborne magnetic and radiometric survey has been recently flown by USGS covering Troy's Claims. This federal backing highlights the project's strategic importance within the US critical minerals landscape.
The data have become available to Troy, which is currently re-processing and interpreting both the magnetic and the radiometric data and designing the 2nd Phase, H2 2025, exploration program. The external geophysical report for Lake Owen and the related interpretation are expected in the coming weeks.
Lac St.Jacques REE Project, Quebec, Canada
The Lac St. Jacques project, located 250 km north of Montreal, Quebec, is a rare earth elements (REE) exploration asset spanning 2,889 acres (1,169 hectares) and has nearby hydroelectric power and excellent road access, 4-hour drive from Montreal. REE mineralization at Lac St. Jacques is hosted in a pegmatitic syenite and granite intrusives, with a carbonatite deposit rich in light REEs-particularly neodymium and praseodymium.
The Company via a Canadian contracting company has completed a drilling program of 2,756 metres across 8 holes. Both core-logging and analytical sampling results are awaited.
Figure 4. Location of the Lac St.Jacques REE Project
Qualified Person
The information contained in this news release has been reviewed and approved by Ted Vander Wart, P.Geo., a consultant to the Company, who is a qualified person as defined under National Instrument 43-101.
About Troy Minerals
Troy Minerals is a Canadian based publicly listed mining company focused on building shareholder value through acquisition, exploration, and development of strategically located "critical" mineral assets. Troy is aggressively advancing its projects within the silica (silicon), vanadium, and rare earths industries within regions that exhibit high and growing demand for such commodities, in both North America and Central-East Asia. The Company's primary objective is the near-term prospect of production with a vision of becoming a cash-flowing mining company to ultimately deliver tangible monetary value to shareholders, state, and local communities.
ON BEHALF OF THE BOARD,
Rana Vig | CEO & Director Telephone: 604-218-4766
Email: rana@ranavig.com
Forward-Looking Statements
Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Troy Resources Inc. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of commodity prices, and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE: Troy Minerals Inc.
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FAQ
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