| ||March 01, 2012|
Troymet Focuses on Key Project
| ||March 1, 2012 - Troymet Exploration Corp. (TSXV:TYE) ("Troymet" or the "Company") reports that the Company's primary focus, in 2012, will be on its 100% owned (8,854 ha) Key project in British Columbia. A $1 million exploration and diamond drilling program is scheduled to commence in May. The program is fully funded and permitted.|
The Key project has significant discovery potential and is road accessible. It is strategically located between and adjacent to New Gold Inc.'s Blackwater gold deposit and the 3Ts gold-silver deposit of Independence Gold Corp. On November 4, 2011, New Gold announced a large gold resource (5.4 M oz Indicated; 1.2 M oz Inferred) at the Blackwater deposit. Drilling of the Blackwater deposit is continuing and an updated gold resource is anticipated. On January 29, 2012, Independence announced an increased gold and silver resource (Inferred: 0.39 M oz Au and 9.9 M oz Ag) at the 3Ts deposit.
As previously reported (News Release of January 19, 2012):
- Troymet has currently identified eight large target areas with significant gold + silver + other element anomalies in soils.
- Several anomalies trend towards the Blackwater property.
- One anomaly is on the Key-Blackwater property border.
- Four anomalies lie north of Good News Lake where wide spaced drilling by Troymet in 2011 (5 holes) intersected anomalous porphyry style mineralization and a large hydrothermal system with high sulphide content (News Release - May 9, 2011).
- One of the anomalies encompasses an area with layered sphalerite mineralization in tuffs/sediments on Tsacha Mountain (~ 2.5 km north of Good News Lake), as well as two strong, undrilled VTEM anomalies.
- Distinct anomalies and trends have been identified in the eastern half of the property and several are associated with the GN and East Faults.
- Multiple new drill targets have been identified.
Troymet is continuing to compile and evaluate the numerous and extensive soil anomalies to prioritize targets. The field program will commence once the property is clear of snow (anticipated by early May) and will include definition of soil anomalies and determining where induced polarization ("IP") surveys are required to better define targets prior to drilling. Drilling is currently planned in the second quarter to test 8 priority targets (10 holes - 1,500 metres). Additional targets will likely be added following completion of the IP surveys. Troymet also plans to complete soil sampling, prospecting and mapping over the western half of the property in summer 2012, in conjunction with planned logging by forestry companies in the area.
The Key project will remain the Company's principal focus. The very encouraging drill results from the Golden Eagle project Skarn zone will be followed up and delineated as a second priority. Further drilling is planned on the McClarty Lake Joint Venture where HudBay Minerals Inc. is the operator. No work is planned this winter on Troymet's 100% owned claims at McClarty Lake.
Kieran Downes, P. Geo., a qualified person as defined by National Instrument 43-101, has reviewed and verified the technical information provided in this release.
TROYMET EXPLORATION CORP.
Kieran Downes, Ph.D., P.Geo.
President, CEO & Director
For further information, contact:
Tel: 1-888-456-4952 or firstname.lastname@example.org
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. This press release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
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