October 7, 2015
October 7, 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. Troymet retained Frontier Geosciences Inc. of Vancouver to review the results of a Transient EM (TEM) survey conducted on the Alpha zone in 2005. This survey consisted of approximately 16 km of TEM surface coverage, as well as downhole TEM testing in three boreholes. The surface TEM coverage identified a number of conductors that vary in depth and quality along strike. It is believed that the target sulphides are associated with prospective volcanic sequences that dip steeply to the southwest (view map). Historically, three stacked prospective sequences are recognized, dipping steeply to the west. Stacked mineralized horizons are a common feature in VMS mining camps world-wide. Within a camp, deposits may occur laterally at a discrete time - stratigraphic interval or vertically stacked through hundreds of metres of volcanic stratigraphy. The distribution of TEM conductors in the Alpha zone indicates there are additional prospective sequences that have not yet been mapped/recognized. Historical drill testing is concentrated in the centre of the TEM grid; however, the stronger TEM responses occur in the southeastern and northwestern areas of the grid. These stronger TEM responses have not yet been drilled, they continue to the limits of the survey grid, and remain open.
The primary purpose of Frontier’s review was to determine why the TEM survey shows only a shallow (~50 metres) EM conductor in the area of diamond drill holes 84-1, RH05-23 and RH06-25, whereas holes RH05-23 and RH06-25 intersected deeper mineralization (~145 metres) that was the target of downhole TEM testing. Frontier’s conclusion is that the shallow TEM conductor and the deeper mineralization intersected in holes RH05-23 and RH06-25 are two separate zones; “The deeper mineralization is likely not detected from the southwest loop (Loop 2) due to null coupling to the southwest dipping horizon”.Consequently, the gold-rich, high grade copper intercepts in holes RH05-23 and RH06-25 may be part of a deeper, high grade zone(s) of VMS mineralization. Additional drilling is required to test for a significant zone of mineralization in this area.
Troymet is in the process of permitting a diamond drilling program on the Alpha and Beta zones which will test the prospective TEM conductors, and other targets. Additional EM surveys may be required on the Alpha zone, prior to drilling, to test for extensions to the prospective TEM conductors and to follow-up soil geochemical anomalies.As previously reported, Troymet has completed a soil sampling program on theAlpha zone (News Release dated September 16, 2015) and results will be released once received, assessed and evaluated.
Downes, P. Geo., a Qualified Person as defined by National Instrument
43-101, has reviewed and verified the technical information provided in
About Troymet Exploration Corp.
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). It 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
TROYMET EXPLORATION CORP.
Kieran Downes, Ph.D., P.Geo.
President, CEO & Director
For further information, contact: Anthony Zelen
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.
news release may contain 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 Wildcat Project,
including the exploration potential and analogous deposit potential of
the Wildcat Project; future data analysis, sampling plans and
exploration plans on the Wildcat Project; and exploration targets and
the potential of such exploration targets. 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 Wildcat Project; the ability of
Troymet to discover viable exploration targets and the results of
exploration on the Wildcat 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 Wildcat 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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