The Mina Sertpo Gold Project ù From Drill Core to Production

Troy Resources NL acquired a 70 per cent interest in the Mina Sertpo gold project in Goißs State, Brazil, in 2001 following a successful bid for the highly competitive international tender of a tenement package put out by Western Mining Corporation (WMC). The Sertpo deposit is located on cleared grazing land 380 km west of Brasilia and is 30 per cent owned by Amazonia Mineracao Ltda, a private Brazilian company. It is a small high grade open-pittable orebody with a measured and indicated resource of 108 000 tonnes at a grade of 49.7 g/t for 172 500 ounces using a 2.0 g/t cut-off. Troy undertook the project management and development of the project while Amazonia managed the exploration activities and provided other services as required. The project development involved drilling metallurgical test holes, scouring the world to locate an available and suitable second-hand plant, and arranging shipping to andreconstruction in Brazil.