NANAIMO, BRITISH COLUMBIA–(Marketwired – Sept. 22, 2015) – Troymet Exploration Corp. (TSX VENTURE:TYE) (“Troymet”), is pleased to update exploration progress on its Wildcat gold-silver project located in the Detroit Mining District, an historic gold producing region in the northern Drum Mountains of central Utah.
The previously announced ground geophysical survey over specific targets preparatory to drilling has been completed. A total of 33 km in the Core and SE target areas were surveyed with differential GPS controlled magnetic and VLF electromagnetic data by Magee Geophysical Services, LLC, of Reno, Nevada. The two survey grids encompass areas with elevated to anomalous gold in soils and rocks. The combination of a 50m line spacing and tight GPS control produced a high resolution data set, which has identified possible controlling structures for gold mineralization. Advanced processing and interpretation of these data is currently underway.
Troymet’s exploration focus on the Wildcat project is structural feeders and breccias along the Joy Fault and structural/stratigraphic targets in Cambrian carbonate rocks. Property wide geological mapping has identified 13 projected intersections of secondary faults with the Joy Fault and all are primary targets for gold and silver mineralization in veins, stockworks, breccias and bulk-tonnage deposits. Importantly, only one historic drill hole has intersected the Joy Fault proximal to one of these newly interpreted intersections/targets. This hole, drilled by Gold Fields Mining Corporation in 1991, intersected 22.72 metres grading 1.27 g/t gold ( 75 feet grading 0.037 ounces per ton gold).
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). 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 for acquisition.
TROYMET EXPLORATION CORP.
Kieran Downes, Ph.D., P.Geo., President, CEO & Director
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 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.