NANAIMO, BRITISH COLUMBIA–(Marketwired – Oct. 29, 2015) – Troymet Exploration Corp. (TSX VENTURE:TYE) (“Troymet”) is pleased to report additional positive results from a geochemical soil sampling program on the Redhill copper-gold-zinc-silver volcanogenic massive sulphide (“VMS”) project in British Columbia. Troymet completed a B-horizon soil sampling program over the Alpha and Alpha South zones in September 2015. Results from the Alpha zone have been reported (News Release dated October 20, 2015). The Alpha South zone is centred on a prominent hill approximately 600 metres south of the Alpha zone (see Location Map). The two zones are similar geologically. The intervening valley contains till and alluvium and is not amenable to soil sampling.
The Alpha South zone sampling program overlapped a 1993 B-horizon soil sampling grid (~19%) and extended the area of sampling to the north. The purpose of the ~19% overlap of the two grids was to allow confirmation and verification of previous results. The two data sets are qualitatively comparable given the ages of the data sets, the different analytical procedures used and the variable amount of surface disturbance in the intervening period. The line spacing was 100 metres (“m”) with sample stations at 50 m. Troymet’s samples were collected from the nearest undisturbed soil closest to the sample station coordinate.
Copper-in-Soil, Zinc-in-Soil and Gold-in-Soil (click to view maps) show the distribution of anomalies of these metals. The plots use the same or similar ranges for the distribution of metal values as were used in the maps for copper-, zinc- and gold-in-soil on the Alpha zone (News Release dated October 20, 2015) so the two zones can be directly compared. There is a strong concentration of anomalous copper values in the northwest quadrant in an area of approximately 400 m X 250 m. Two smaller clusters of anomalies are also present – one in the southeast and one in the south of the zone. Zinc largely mimics copper. A similar relationship between copper and zinc was previously noted on the Alpha zone.
In contrast, gold anomalies are distributed along the west side of the zone/hill and immediately southeast of the summit of the hill. Elevated to anomalous gold values along the west side of the zone are distributed over a distance of ~900 m, maximum width of ~250 m, with the strongest clustering occurring over 400 m. The anomaly partially overlaps the copper anomaly. The gold anomaly southeast of the summit is a coherent and well developed anomaly on three lines with good lateral extent. The anomaly (~250 m x 225 m) overlaps the southern copper anomaly.
The copper, zinc and gold anomalies at Alpha South lie ~1,200 m southwest of the Alpha zone anomalies. They appear to be separate and distinct trends related to separate structures or mineralized horizons. In aggregate, the anomalous gold and copper geochemical trends extend over ~3,500 m.
Troymet plans a mapping program to establish the geological and structural controls on the copper-, zinc- and gold-in-soil anomalies. No deep penetrating fixed-loop transient EM surveys have been conducted on the Alpha South zone so it is unknown at this time if there are EM conductors associated with the anomalies, as in the Alpha zone. Given the geological and structural similarities between the Alpha and Alpha South zones it seems likely the controls on mineralization will be the same. However, it is possible the gold anomalies are controlled by a currently, unrecognized mineralized structure(s).
Only two percussion holes have been drilled on the Alpha South zone, based on available records. Both holes, drilled in 1981, were shallow angle holes (less than 85 m) that tested a small geochemical anomaly near an old adit. Hole S81-5 intersected mineralization in the last 6.1 m that assayed 0.48% zinc, including 0.92% zinc over 1.52 m. The hole bottomed in mineralization.
Kieran Downes, President and CEO of Troymet, comments: “The Alpha and Alpha South anomalous zones cover a large area that with high discovery potential that has seen very limited drilling. The gold anomalies in particular are impressive in their dimensions and may well be rooted in currently unrecognized mineralized structures.”
Troymet’s soil samples, including duplicates and blanks, were analyzed at ALS Global, Vancouver. Copper and zinc were analyzed by aqua regia extraction with an Inductively Coupled Plasma – Atomic Emission Spectroscopy (ICP-AES) finish. Gold was analyzed by aqua regia extraction with an Inductively Coupled Plasma – Mass Spectrometry (ICP-MS) finish in order to have a 1 ppb detection limit. The 1993 soil sampling program was managed by experienced professionals and appears to have been handled in an acceptable manner. The 1993 soil samples were analyzed at Acme Analytical, Vancouver, by aqua regia extraction with Inductively Coupled Plasma – Atomic Emission Spectroscopy (ICP-AES) finish. Gold was determined by instrumental neutron activation analysis method (INAA) where the detection limit was 1 ppb versus the then detection limit of 2 ppm by ICP-AES.
Troymet is currently permitting a diamond drilling program on the Alpha, Alpha South and Beta zones. Troymet may undertake additional EM surveys on the Alpha zone, prior to drilling, to test for extensions to the prospective TEM conductors and to follow-up soil geochemical anomalies.
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
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 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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