|July 10, 2008|
Troon Options Troy Property to Thunderhill Exploration
|Troon Ventures Ltd. (TSXV:TVN) is pleased to announce that is has granted, subjected to regulatory approval, Thunderhill Exploration Ltd. ("Thunderhill") an option ("the option") to acquire up to a 60% interest in the Troy Property, located 65 km southwest of Chapleau, Ontario.|
Thunderhill may earn a 51% interest in the property by making a cash payment of $15,000 on signing and by completing $1.5 million in cumulative property expenditures on or before September 30, 2013. A firm work commitment of $100,000 shall be completed by September 30, 2009, with optional work commitments of $100,000 by September 30, 2010; $250,000 by September 30, 2011; $250,000 by September 30, 2012; and $800,000 by September 30, 2013. Thunderhill may increase its interest to 60%, by electing to expend an additional $1,000,000 on the property within two years of exercising the option to earn 51%.
The Troy Property consists of some 1653 hectares located in the easternmost portion of the Batchawana Greenstone Belt. The Batchawana Greenstone Belt occurs in the Abitibi Sub-Province, a region which hosts the major gold deposits located at Kirkland Lake, Timmins and Val d'Or. The property is accessible from Chapleau by a combination of logging and paved roads.
Gold was initially found on the property in 1999 by prospectors with grab samples returning gold values up to 19 g/t. Limited exploration completed since then has identified five zones and showings of sheared and altered volcanics hosting anomalous gold values within sulphide bearing quartz veins and mafic flows peripheral to the veins. The most significant zones are the Troy and Road.
At the Troy Zone anomalous gold values have been identified within an up to 20 metre wide x 350 metre long and open zone of shearing. Coincidental with the zone is an up to 60 metre wide x 250 metre long gold in soil anomaly in which values of up to 5541 ppb Au have been recorded. Channel sampling has returned anomalous values throughout the length of the zone. Results included 2 and 3 metre samples respectively averaging 1.034 and 0.530 grams per ton gold.
The Road Zone hosts multiple quartz bearing shears within a 150 metre wide x 450 metre long open zone. The most favourable shear zone has been traced for 350 metres with the width variable to 8 metres. Channel sample results include a 1 metre sample assaying 4.868 opt Au. Approximately 5 metres to the south a channel sample taken from a parallel quartz vein assayed 2.241 grams per ton gold.
Elsewhere on the property prospecting has located additional areas of quartz veining with anomalous gold values requiring additional work.
All work programs on the Troy Property have been completed under the supervision of Dave Visagie, P. Geo., a Qualified Person as defined by NI 43-101.
ON BEHALF OF THE BOARD,
TROON VENTURES LTD.
Bruce McLeod, President
FOR MORE INFORMATION CONTACT Bruce McLeod or Chris Curran at 1-604-687-7545 or Toll Free 1-888-338-2200
Website: www.northair.com/troon/ Email: firstname.lastname@example.org ________________________________________________________________________________
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release. This news release may contain forward looking statements which are not historical facts, such as ore reserve estimates, anticipated production or results, sales, revenues, costs, or discussions of goals and exploration results, and involves a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, metal price volatility, volatility of metals production, project development, ore reserve estimates, future anticipated reserves and cost engineering estimate risks, geological factors and exploration results. See Troon's filings for a more detailed discussion of factors that may impact expected results.