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Troymet Targets the Rattler Breccia at Wildcat

NANAIMO, BRITISH COLUMBIA–(Marketwired – Nov. 24, 2015) – Troymet Exploration Corp. (TSX VENTURE:TYE) (“Troymet” or the Company”) 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. Troymet’s exploration focus is gold and silver mineralization in veins, stockworks, breccias and bulk-tonnage deposits along the Joy Fault, and in structural/stratigraphic hosts in Cambrian carbonate rocks.

As previously reported (news release dated July 27, 2015) Troymet’s initial exploration in the Southeast (SE) target area pointed to the likelihood of untested precious metal mineralization at shallow depths associated with anomalous soil and rock chip geochemistry (some rock chip values are again reported below in summary form for the sake of completion). Subsequently, Troymet completed detailed geological and structural mapping, soil and rock geochemical sampling, hand trenching and detailed bi-directional ground magnetic and EM surveys in order to identify specific drill targets.

The Rattler Breccia (see Location Map) is developed in a structurally complex location on the Joy Fault. Several significant faults, either mapped in the field or interpreted from geophysics, intersect at or near the breccia. As well, the detailed geophysical survey suggests the possible existence of a step-over structure up to 200 meters wide in the hangingwall of the Joy Fault. The breccia and adjacent carbonate host rocks are strongly anomalous in gold and other trace elements associated with epithermal and carbonate-hosted gold deposits. Three select rock chip samples of the breccia grade from 0.115 to 2.46 ppm gold (average 1.29 ppm), with tellurium (assayed in two samples) concentrations of 15 ppm and >500 ppm. Adjacent variably decalcified and silicified carbonate rocks range up to 3.94 ppm gold (Au), >500 ppm tellurium (Te), 37 ppm mercury (Hg), 283 ppm antimony (Sb), and 45 ppm thallium (Tl) – see table. The anomalous values of Au, Ag, As, Sb, Te, Hg and Tl in carbonate rocks is notable and indicates the potential for mineralization in feeders and as replacement deposits in carbonates. The presence of Au and Te in the mineralization indicates similarities with the mineralization on High Grade hill in the Core target area approximately 2,700 metres to the northwest (news release dated November 17, 2015).

Sample ID Rock
Type
Sample
Type
Au
ppm
Ag
ppm
As
ppm
Bi
ppm
Cu
ppm
Hg
ppm
Sb
ppm
Te
ppm
Tl
ppm
RLDC6219_07 Jasperoid breccia Select rock chips 1.290 1.60 259.0 4.00 21.0 24.0 57.0 8.0
MC13-WC001 Jasperoid breccia Select rock chips 0.115 0.66 12.8 0.23 8.7 4.0 14.8 2.0
K DownesWC5 Jasperoid breccia Select rock chips 2.460 1.44 332.0 5.74 16.0 37.4 99.6 >500 5.3
GXD-1266 Decalcified carbonate Select rock chips 3.940 6.71 47.3 0.93 4.5 99.7 99.6 11.9
GXD-1253 Decalcified carbonate Select rock chips 2.180 0.57 391.0 0.19 8.8 283.0 >500 20.0
MC15-WC100 Carbonate with FeOx Chip channel, 0.12m 0.347 0.09 387.0 1.32 15.8 0.4 45.8 9.0 44.7
MC15-WC101 Sanded carbonate Chip channel, 1.8m 0.016 0.02 50.8 0.05 3.6 0.5 20.2 0.3 12.6
GXD-1265 Volcanic tuff Select rock chips 0.300 1.59 22.3 0.72 16.0 5.7 16.4 2.0

The Rattler Breccia is exposed in Cambrian limestones in the footwall of the Joy Fault adjacent to a large recessive zone along the margin of the Thomas Caldera. Rounded clasts of probable Prospect Mountain Quartzite indicate significant hydrothermal transport in the breccia (>300 metres). The immediate target area is ~100 metres x 50 metres but may be larger.

Drilling will target structures and prospective calcareous siltstone/sandstone beds of the Big Horse member of the Orr Formation, which hosts most gold mineralization exposed elsewhere on the Wildcat property. It is anticipated that multiple fault intersections could have provided a broad zone of structural preparation in these favorable host rocks to produce a significant zone of gold mineralization at relatively shallow depths. There is no record of prior drilling on the Rattler Breccia.

Troymet’s rock and soil samples are analyzed by ALS Global in Reno, Nevada, an ISO/IEC 17025:2005 accredited facility.

Kieran Downes, President and CEO of Troymet, comments: “The Rattler Breccia offers significant discovery potential for previously unrecognized precious metal targets in a new area.”

Qualified Persons

All technical data, as disclosed in this press release, has been verified by the Company’s qualified persons Kieran Downes, Ph.D. P.Geo. and Mark Coolbaugh, Ph.D., CPG. Both are Qualified Persons as defined by National Instrument 43-101.

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 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.

Troymet Exploration Corp.
Anthony Zelen
Investor Relations
888-456-4952 or C: 778-388-5258
[email protected]
www.troymet.com

 

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