September 16, 2015
September 16, 2015
- Troymet Exploration Corp. (TSXV:TYE) (“Troymet
”) is pleased to update progress on its exploration program on the Redhill copper-gold-zinc-silver volcanogenic massive sulphide (“VMS”) project in British Columbia. The previously announced soil sampling and reconnaissance prospecting program on the Alpha zone has been completed. The program was carried out by Equity Exploration Consultants Ltd. The soil sampling program covered areas of the Alpha zone not previously sampled as well as the 11 fixed-loop transient EM conductors that occur in an area of ~600 X 1,100 metres around hole RH-06-25 (Troymet News Release, August 14, 2015). The soil grid also overlapped historic soil sampling grids to ensure continuity of coverage. Results will be released once received, assessed and evaluated.
As part of its ongoing program Troymet re-logged, quartered and re-assayed the high grade intersection in hole RH-06-25. The original intersection returned 8.97% copper, 4.96 % zinc, 1.27 g/t gold and >30.0 g/t silver over 2.04 metres, including 10.15% copper, 5.45% zinc, 1.41 g/t gold, and >30.0 g/t silver over 1.74 metres (Avalon Ventures Ltd. News Release, October 31, 2006). Troymet’s re-assay of the high grade intersection returned 8.75% copper, 4.75% zinc, 1.22 g/t gold and 61.19 g/t silver thereby confirming the original assays. There is an undrilled, off-hole Pulse EM conductor adjacent to hole RH-06-25 that indicates extensions to this mineralization.
The quartered core was assayed by SGS Canada Inc. using industry standard methods including an initial multi-element ICP-MS scan for major elements (SGS method ICM14B) with over limits for Cu, Pb and Zn measured by method GO_ICP90Q. Gold was assayed by fire assay with an AA finish (method FAA303). Detailed information on these analytical methods can be found on the SGS website.
Troymet is currently in the process of permitting a diamond drilling program on the Alpha and Beta zones. Further EM surveys may be required on the Alpha zone to test for extensions to at least five of the fixed-loop transient EM conductors and to follow-up soil geochemical anomalies prior to drilling.Qualified Person
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. About Troymet Exploration Corp.
Troymet Exploration Corp. is a junior exploration company with a solid treasury and with projects in British Columbia (Redhill and Golden Eagle), Manitoba (McClarty Lake) and Utah (Wildcat). Troymet operates the Wildcat, Redhill and Golden Eagle projects. Hudbay Minerals Inc. is the operator of the McClarty Lake joint venture and must contribute $1,151,052 in joint venture expenditures before Troymet is required to fund its participating interest. Troymet retains a 2% net smelter returns royalty (NSR) on the Key property, British Columbia, which was sold to New Gold Inc. in 2013. Troymet is continuing to evaluate mineral properties for acquisition.TROYMET EXPLORATION CORP.
Kieran Downes, Ph.D., P.Geo.
President, CEO & Director
For further information, contact: Anthony Zelen
Website: www.troymet.comNeither 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 news release contains certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. In particular, this news release contains forward-looking information in respect of: the Redhill Project, including the possible exploration and development of the Redhill Project; the exploration potential and analogous deposit potential of the Redhill Project; future data analysis, sampling plans and exploration plans on the Redhill Project; the timing for exploration and drilling on the Redhill Project; exploration targets and the potential of such exploration targets; and the ability and the timeframe within which the Redhill Project can be advanced. 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. This forward-looking information reflects Troymet’s current beliefs and is based on information currently available to Troymet and on assumptions Troymet believes are reasonable. These assumptions include, but are not limited to: the current share price of Troymet’s common shares and the ability to raise future equity financing, if needed, at prices acceptable to Troymet; Troymet’s current and initial understanding and analysis of the Redhill Project; the ability of Troymet to discover viable exploration targets and the results of exploration on the Redhill Project; the cost of exploration, including sampling and drilling, on the Redhill Project; Troymet’s general and administrative costs remaining constant; and the market acceptance of Troymet’s business strategy. Forward-looking information is subject to known and unknown risks, uncertainties and other factors which may cause the actual results, level of activity, performance or achievements of Troymet to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the early stage development of Troymet and its projects, and in particular, the Redhill Project; general business, economic, competitive, political and social uncertainties; capital market conditions and market prices for securities, junior market securities and mining exploration company securities; commodity prices; the actual results of current exploration and development or operational activities; competition; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting Troymet; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. A description of other assumptions used to develop such forward-looking information and a description of other risk factors that may cause actual results to differ materially from forward-looking information can be found in Troymet’s disclosure documents on the SEDAR website at www.sedar.com. Troymet does not undertake to update any forward-looking information except in accordance with applicable securities laws.
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