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Troon Ventures Ltd. has a 100% interest in the Fry Lake property. The property, totaling 22 units in size, is located 140 km north of Sioux Lookout, Ontario and is accessible by floatplane or by winter roads from various villages located within the area. The Fry Lake property was acquired for it's potential to host gold deposits similar to those elsewhere in the Uchi Subprovince.

The Uchi Subprovince hosts several greenstone belts from which significant past and present producing gold mines has been achieved including those at Red, Pickle and Rice Lakes. The Golden Patricia Mine (production of 635,000 ounces from 1.14 million tons) occurs within the Meen-Dempster Belt. The majority of gold production within the Uchi Subprovince is from carbonate altered shear zones in which narrow high grade gold veins occur. Typically the veins are less than 1.5 m wide and 200 m long.

Exploration, completed intermittently since discovery in 1934, has identified two showings of shear hosted quartz veining associated with extensive zones of carbonate alteration: Flicka and Fry Lake #9.

At the Flicka Zone, three north trending, shear hosted, gold bearing quartz veins (#1, #2 and #3), occur over a 100 m distance. The veins are located between two northeast trending zones (North and South) of shearing and carbonate alteration. All three veins pass to the south into the Fry Lake property while to the north they are covered with overburden. Individual veins measure up to 0.71 m wide and 75 metres long and are open along strike. Grab samples collected from Veins #1 and #2 have returned values of up to 448.5 and 20.3 gpt Au respectively while samples of the wall rock have respectively returned values of 22.700 and 6.030 gpt Au. The veins have not been drill tested. Vein #3 has had at least eleven short drill holes completed on it over a 75 m strike length (1946 and 1984 drill programs). Drilling generally tested the vein at depths of less than 30 metres with the deepest hole intersecting the zone at a down hole depth of 70 metres. All of the holes intersected the main and secondary veins with gold values being reported in all holes. The most significant results are located in the two easternmost holes located under Fry Lake that respectively assayed 30.377 and 11.182 gpt Au over widths of 0.61 and 1.41 m.

The Fry Lake #9 Showing is located on the east side of a bay across from the Flicka Showing. At the showing, gold bearing quartz veins occur within a carbonate altered shear zone hosted by mafic volcanics. Six drill holes have tested a portion of the zone. The most westerly of the drill holes, located under Fry Lake returned the best values. According to 1946 government notes the hole intersected a 0.65 m section averaging 21.50 gpt Au while a 1985 report states the best drill hole intersected three sections of 23, 53 and 54 cm respectively assaying 24.342 and 11.314 and 7.886 gpt Au. To the east, according to government reports the values are much lower but are not listed.

Based on the limited data the Fry Lake property has the potential to host high-grade gold mineralization. The style and setting of the gold mineralization on the Fry Lake property appears to be similar to that elsewhere in the Uchi Subprovince. As such the property is highly prospective and warrants additional work.