NANAIMO, BRITISH COLUMBIA–(Marketwired – Sept. 2, 2015) – Troymet Exploration Corp. (TSX VENTURE:TYE) (“Troymet“) or the (“Company” ) is pleased to review the current status of its on-going exploration activities and its plans going forward. Troymet is focused on advancing the Redhill copper-gold-zinc-silver volcanogenic massive sulphide (“VMS”) project in British Columbia and the Wildcat gold-silver project located in the northern Drum Mountains of central Utah. Both are considered to have high discovery potential.
Troymet optioned the Redhill project in July 2015 and has quickly advanced it to drill-ready status. Troymet is currently permitting a diamond drilling program and will mobilize a soil sampling and prospecting crew to the Alpha Zone in early September to expand soil sampling coverage of the zone and to prospect the newly identified stratigraphic sequence that hosts the high grade mineralization in hole RH-06-25 (8.97% copper, 4.96 % zinc, 1.27 g/t gold and >30.0 g/t silver over 2.04 metres) and adjacent holes. This program will also cover the 11 fixed-loop transient EM conductors which occur in an area of ~600 X 1,100 metres around hole RH-06-25. (Troymet News Release dated August 14, 2015). Troymet anticipates this field program will lead to the identification of additional targets for drilling.
Data compilation on the Beta Zone has identified a particularly attractive untested target at conductor #3 located 200 metres south of borehole S83-4 (2.54% copper, 2.78% zinc, 77.0 g/t Ag, and 0.37 g/t Au over 7.75 metres). (British Columbia ARIS (Assessment Report Indexing System) Report #28371). Previous drilling on the Beta Zone tested conductors generally measuring 2 to 7 mhos in strength. Conductor #3 has a conductivity thickness product of 40 mhos and an associated induced polarization (IP) response.
The summer field program is now complete and assays for the final samples are pending. Initial results from the SE target area have been released (Troymet News Release July 27, 2015). However, the field program was expanded because of ongoing encouraging exploration results and additional sampling was carried out in the SE, Core and N target areas. Final results from all zones will be released in the future once received, assessed and interpreted.
Troymet is currently in the process of permitting a drilling and trenching program. As well, a geophysical crew will be mobilized to the property in early September to conduct detailed geophysical surveys over certain targets prior to drilling.
Troymet optioned the Wildcat project in February 2015 and commenced its field program in May following a rigorous compilation and verification of historic data. Troymet’s analysis of the historic data identified new target opportunities with the potential to host large, high-grade gold and silver mineralization in veins, stockworks, breccias and bulk-tonnage deposits that had not been explored by previous operators. The summer field program successfully identified numerous prospective structural drill targets along the Joy Fault and in cross cutting structures. The field program included geological mapping, prospecting, rock chip sampling, soil sampling, hand trenching, BLEG sampling, vegetation and soils orientation sampling, and claim staking. As well, the ground magnetic and gravity databases were reprocessed to support the exploration program.
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 Ronald H. McMillan Ph.D., P. Geo. 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 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 and Wildcat Projects, including the possible exploration and development of the Redhill and Wildcat Projects; the exploration potential and analogous deposit potential of the Redhill and Wildcat Projects; future data analysis, sampling plans and exploration plans on the Redhill and Wildcat Projects; the timing for exploration and drilling on the Redhill and Wildcat Projects; exploration targets and the potential of such exploration targets; and the ability and the timeframe within which the Redhill and Wildcat Projects 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 and Wildcat Projects; the ability of Troymet to discover viable exploration targets and the results of exploration on the Redhill and Wildcat Projects; the cost of exploration, including sampling and drilling, on the Redhill and Wildcat Projects; 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 and Wildcat Projects; 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.
888-456-4952 / Cel: 778-388-5258