NANAIMO, BRITISH COLUMBIA–(Marketwired – Oct. 20, 2015) – Troymet Exploration Corp. (TSX VENTURE:TYE) (“Troymet”) is pleased to report positive results from a geochemical soil sampling program on the Alpha zone, on the Redhill copper-gold-zinc-silver volcanogenic massive sulphide (“VMS”) project in British Columbia. As previously reported, Troymet completed a B-horizon soil sampling program on the Alpha zone in September (news release dated September 16, 2015). The survey covered the previously un-sampled western part of the Alpha zone (~50% of the total area) and significantly overlapped a 1993 B-horizon soil sampling grid that covered mainly the eastern half of the zone. The purpose of the ~40% 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 200 metres (“m”) with sample stations at 50 m. Troymet’s samples were collected from the nearest undisturbed soil closest to the sample station coordinate. Greater definition of the soil anomalies could be obtained with tighter grid sampling (100 m x 25 m) and the need for this will be assessed as the exploration program progresses.
Copper-in-Soil, Zinc-in-Soil and Gold-in-Soil plots (click to view maps) incorporate the principal EM drill targets, historic prospective volcanic sequences, historic diamond drill hole locations and limit of the 2005 TEM survey. There is a strong copper response associated with the area/conductor in which holes RH05-23, RH06-25 and 84-1A intersected high-grade copper mineralization (news release dated October 7, 2015), and with the prospective volcanic sequence to the west. Notably, there is a strong copper response associated with EM conductors PT1 and PT2, and down slope to the southwest of conductor PT1. The association of EM conductors with copper-in-soil anomalies indicates there are additional prospective sequences that have not yet been mapped/recognized. A number of other areas with elevated to anomalous copper values are recognized in the southern part of the zone. Zinc largely mimics copper although there are unexplained elevated to anomalous values in an area of ~600 m x 500 m in the southeast part of the zone.
In contrast, the stronger gold values occur, consistently, line-to-line over a distance +1,000 m. The gold anomaly may be reflecting an unrecognized prospective volcanic sequence or it may be mapping a hitherto undiscovered mineralized structure. Elevated to anomalous gold values are also associated with EM conductors PT1 and PT2, and one anomaly is in the area of the conductor in which holes RH05-23, RH06-25 and 84-1A intersected high-grade copper mineralization, including 1.35 m grading 7.5 g/t gold and 2.08% copper (hole RH05-23).
Kieran Downes, President and CEO of Troymet, comments: “Diamond drilling has only tested a small part of the Alpha zone. The strong copper, zinc and gold soil anomalies associated with relatively shallow and undrilled EM conductors shows the Alpha zone is an area with high discovery potential.”
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 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.