March 12, 2009
March 12, 2009 - Troymet Exploration Corp. (TSXV:TYE) (“Troymet” or the
“Company”) is pleased to report on the results of a helicopter-borne
VTEM survey on the Company’s 100% owned Key property (7,882 ha) located
125 km southwest of Vanderhoof, British Columbia. The survey was flown
over the central claims of the property by Geotech Ltd. in August 2008.
An interpretation of the results was subsequently undertaken by Balch
Exploration Consulting Inc. (BECI).
The exploration targets on the Key project are: (1) precious metals-rich
volcanic massive sulphide (VMS) deposits, possibly preserved within a
graben structure; and (2) epithermal gold-silver deposits. The VTEM
survey identified four priority targets for follow up.
BECI identified four geophysical targets in the form of discrete higher
conductance electromagnetic (EM) anomalies for follow-up investigation.
Three of the anomalies are considered targets for VMS mineralization.
The fourth anomaly is selected as a lower priority target but chosen due
to its unusual EM behaviour.
Anomaly P1A is a near surface and perhaps exposed target with a strong
EM signature and interpreted to strike northerly for 600-800 metres.
It’s proximity to both major and subtle structural features place it as a
high priority target. Anomaly P1B is another high priority and
relatively shallow target with a strike length estimated at <200
metres. Anomaly P2 is considered a medium priority, discrete, shallow
target situated within an intrusive body. The shape of the EM anomaly
suggests a thick geometry or horizontal body with <200 metres strike
length. Anomaly P3 is another near surface target but considered lower
priority in that it does not exhibit similar characteristics to the
other selected targets. Its close proximity to a regional fault zone,
however, warrants a ground follow up.
The Key project lies within the Nechako Plateau, an area described by
the BC Geological Survey as under-explored and having the potential to
host various styles of mineral deposits based on favourable geology,
coeval intrusive activity and locally intensive extensional faulting
(BCGS Paper 1997-2). The property covers an area with anomalous lake
sediment geochemistry and locally anomalous
gold-lead-arsenic-silver-zinc in soils. The anomalous metal suite and
geological setting is characteristic of the gold- and silver-rich Eskay
Creek deposit in northwest British Columbia.
The Key property is contiguous with Silver Quest Resources’
Blackwater-Davidson project to the north and 3T’s project to the
southwest. At Blackwater-Davidson, disseminated gold-silver
mineralization and high-grade gold in shear-hosted veins is hosted in
Jurassic aged Hazelton Group rhyolites. The 3T’s is described as a
bonanza-style, epithermal gold-silver camp also hosted by Hazelton Group
rhyolites. Silver Quest’s Capoose silver-gold-lead-zinc deposit,
located 27 kilometres to the northwest, is associated with younger
Cretaceous-aged rhyolitic sills that have intruded the Hazelton rocks.
Current and historical resources are reported for the three properties.
Along the regional strike approximately 130 km to the northwest, Amarc
Resources Ltd. is actively exploring the Sitlika Copper-Zinc Belt for
copper-zinc rich VMS deposits.
The Company is very pleased with the positive results of the airborne
survey and a field program is under consideration for the 2009 field
season. This is a greenfield project with little history of exploration.
Given the location of the project and the newly identified VMS targets,
the Company is very optimistic for its discovery potential.
Troymet is a junior exploration company with precious and base metal
projects located in British Columbia and Manitoba, Canada. The Company
is actively seeking partners to advance its highly prospective
properties and continues to seek new projects with high-value and
large-tonnage potential to add to its portfolio.
Tracy Hurley, P.Geo., Vice President, Exploration and qualified person
as defined by National Instrument 43-101 is responsible for the
technical information provided in this release.
TROYMET EXPLORATION CORP.
Kieran Downes, Ph.D., P.Geo.
President, CEO & Director
For further information, contact:
Troymet Exploration Corp.
Tel: 1-888-456-4952 or email@example.com
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 “forward-looking information”
within the meaning of applicable Canadian securities legislation. All
statements, other than statements of historical fact, included herein
may be forward-looking information. Generally, forward-looking
information may be identified by the use of forward-looking terminology
such as “plans”, “expects” or “does not expect”, “proposed”, “is
expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “intends”,
“anticipates” or “does not anticipate”, or “believes”, or variations of
such words and phrases, or by the use of words or phrases which state
that certain actions, events or results may, could, would, or might
occur or be achieved. This forward-looking information reflects the
Company’s current beliefs and is based on information currently
available to the Company and on assumptions the Company believes are
reasonable. These assumptions include, but are not limited to, the
actual results of exploration projects being equivalent to or better
than estimated results in technical reports or prior exploration
results, and future costs and expenses being based on historical costs
and expenses, adjusted for inflation. Forward-looking information is
subject to known and unknown risks, uncertainties and other factors that
may cause the actual results, level of activity, performance or
achievements of the Company 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 the Company and its projects; general business, economic,
competitive, political and social uncertainties; 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 the Company; timing and availability of external
financing on acceptable terms; conclusions of economic evaluations; and
lack of qualified, skilled labour or loss of key individuals. Although
the Company has attempted to identify important factors that could cause
actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. Accordingly,
readers should not place undue reliance on forward-looking information.
The Company does not undertake to update any forward-looking
information, except in accordance with applicable securities laws.
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