COMOX, BRITISH COLUMBIA--(Marketwire - Jan 14, 2013) - Troymet Exploration Corp. (TSX VENTURE:TYE) ("Troymet" or the "Company") reports results from the fall, reverse circulation drilling program on its 100% owned Key gold project in British Columbia (16 holes - 867 metres). Active logging severally restricted access for drilling with the result that only four target areas were drilled: Buzz, SGN, Blue and P1A (www.troymet.com/i/maps/Key_Au-DH-PA1.jpg). Access to the SGN anomaly was restricted to the northern end of the anomaly at Good News Lake - the core of the anomaly has not been drilled. Access to the Blue anomaly was restricted to two sites (www.troymet.com/i/maps/Key_Au-DH-PA2.jpg). Hole RC- 10 intersected bedrock gold mineralization in the Buzz B anomaly; holes RC-15 and RC-16 intersected wide zones of alteration carrying anomalous gold +/- silver at the north end of the SGN anomaly; and hole RC-01 intersected anomalous copper over a significant width in the Blue anomaly. The area continues to be actively logged and it is anticipated that there will be excellent access for drilling of all target areas and for surface exploration upon completion of the logging program. The 8,854 hectare Key project is strategically located immediately adjacent to New Gold Inc.''s Blackwater gold deposit where a positive Preliminary Economic Assessment was announced on September 20, 2012.
The Buzz gold-in-soil anomaly occurs on a rugged NW-trending ridge along the GN Fault in an area of generally shallow overburden cover. The anomaly occurs within an area approximately 1,400 metres long and ranging in width from 600 to 900 metres. There are three parts to the anomaly:
- Buzz A: ~ 1,300 metres long and 200 metres wide.
- Buzz B: ~ 500 metres long and 200 metres wide, it flanks the Buzz A to the northwest.
- Buzz C: ~ 350 metres long and 250 metres wide, it flanks the Buzz A to the southwest.
The drill program tested for bedrock gold mineralization under and adjacent to high gold-in-soil anomalies regardless of whether there was an associated induced polarization anomaly. Holes RC-08, RC-09 and RC-10, drilled on a ~125 metre long east-west section through the Buzz B (max. value 0.22 g/t Au), intersected bedrock gold-silver mineralization - elevated values in RC-09 and significant values in RC-10 (0.38 g/t gold over 13.71 metres including 2.74 g/t gold over 1.52 metres - Table 1). The mineralization occurs within the peak of the Buzz B anomaly and is open to the north, south, east and to depth. Holes RC-09 and RC-10 were drilled heel to toe. The mineralization in both holes starts immediately in the sub-crop indicating the Buzz B gold-in-soil anomaly is reflecting bedrock gold mineralization.
Hole RC-03 and RC-04 (Buzz C) were drilled as 25 metre step outs, north and south respectively, of the silver intersection in hole Key-091 (11.13 g/t silver, 0.23% zinc and 0.05 g/t gold over 5.0 metres). Hole RC-04 intersected 2 sections with anomalous silver (Table 1).
Holes RC-05, RC-06 and RC-07 (Buzz C) were drilled on an ~110 metre long east-west section to the west of Key-09. Hole RC-05 intersected two intervals with anomalous silver (Table 1). The hole is anomalous throughout in zinc.
Holes RC-11 and RC-14 (Buzz A), were drilled to test a peak gold-in-soil anomaly of 0.34 g/t gold. RC-14 intersected several intervals of significantly anomalous molybdenum (Table 1) which correlate well with the molybdenum intersections in Key-071 ~200 metres to the south. RC-11 also intersected anomalous, but lower, molybdenum and copper values.
The multi-element soil anomalies appear to be mapping bedrock mineralization. Important drill targets remain to be drill tested.
1News Release of May 9, 2011
The SGN gold-in-soil anomaly extends south from Good News Lake for approximately 2,000 metres. The anomaly ranges in width from ~380 metres in the north to ~ 200 metres in the south. Induced polarization survey lines were completed at three locations to position the anomaly for drill testing. Line 1was surveyed at the northern limit of the anomaly at Good News Lake. Lines 2 and 3 were surveyed further south. The data indicates an east dipping structure. The shape of the soil anomaly appears to be a product of a glacial transport direction from the southwest intersecting an east dipping, north to northwest trending structure.
The induced polarization survey on Line 1 indicated a coincident strong chargeability and resistivity anomaly, approximately 550 metres wide, just north of peak gold-in-soil values of 0.42 g/t and 0.14 g/t gold. Holes RC-15 and RC-16 were collared ~190 metres apart and drilled westerly to test the anomaly. Hole RC-15 intersected variably bleached and altered andesitic volcanics carrying disseminated pyrite (trace to >5%) and disseminated and net textured magnetite (trace to 2%) from surface to 62.48 metres. The hole cut two intervals of anomalous gold +/- silver (Table 1). Hole RC-16 intersected quartz veining, silicification and haematization in bleached and pyritic (trace to 2%) andesitic volcanics from 9.14 metres to the end of the hole at 70.10 metres. The interval 10.67 to 45.72 metres contains anomalous gold values (Table 1). The interval 22.86 to 45.72 metres also carries anomalous silver values.
The two holes were not drilled in the best part of the anomaly which is between 300 - 400 metres to the south. Here, peak gold-in-soil values are 0.25 to 0.50 g/t, and there is gold (0.22 g/t), silver (14.3 g/t) and tungsten (260 ppm) in a surface sample2.
The Blue anomaly comprises a trend of gold-in-soils that initially trends to the north and then arcs to the northeast across the East Fault. This orientation approximates the orientation of the Blackwater gold deposit. Currently, no controlling structure is recognized.
Hole RC-01 was drilled to test a coincident chargeability high and a copper- and gold-in-soil anomaly. It intersected 1.34 g/t silver and 0.12% copper over 23.17 metres in hornfelsed and sulphidized felsic to mafic volcanics, locally displaying quartz veinlets and trace disseminated chalcopyrite. RC-02 was collared ~ 500 metres north of RC-01 to test a gold-in-soil anomaly on the East Fault. It intersected a narrow interval of anomalous gold starting at 4.57 metres in pyritic micro-diorite (Table 1).
The P1A VTEM anomaly is located on the GN Fault in an area of rugged topography. Holes RC-12 and RC-13 tested the anomaly. The two holes intersected andesitic volcanics carrying disseminated and veinlet controlled minor magnetite and pyrrhotite as well as trace pyrite. Both holes intersected anomalous zinc but no anomalous gold or silver values (Table 1).
There is widespread overburden coverage and limited bedrock exposure in the target areas. Prospecting was carried out in conjunction with the soil sampling program which finished in July 2012. Subsequently, the principal target areas were again prospected to ensure complete coverage. New exposures created by logging were prospected prior to the start of drilling. The best results were obtained from the Key West area and from copper rich volcanics along the East Fault (Table 2). The original surface gold discovery (4.57 g/t gold2) targeted by hole Key-01 at West Key was excavated by hand. Four mineralized narrow quartz veins, three of which are gold-silver-copper bearing, were traced over approximately 15 metres before disappearing under thick overburden. Active logging has opened up this area and further exploration is required to evaluate the shear zone/quartz vein system. Malachite was found in quartz-carbonate veined vesicular mafic volcanics at the southern end of the East Fault (Table 2).
Check assaying was conducted on 50 samples for gold and 100 samples for silver, copper, lead and zinc. The check assays were processed through a 150 micron sieve (versus a standard 75 micron sieve) to determine if there was any coarse gold present. None was detected. Check analyses for silver, copper, lead and zinc used 2 grams of sample to ensure that a larger, more representative sample of the 150 micron split was analyzed. There were no significant changes from the initial analyses.
2 Technical Report, Key Property, British Columbia, Canada - SEDAR Filed June 12, 2012
|Table 1||Significant Drill Results|
|RC-03||No Significant Values|
|RC-06||No Significant Values|
|Table 2||Significant Prospecting Results|
|Sample_ID||Au g/t||Ag g/t||Cu ppm||Pb ppm||Zn ppm||Description|
|HGS-091a||7.74||29.3||8830||21||190||West Key: Vein1 - grab|
|HGS-091b||1.695||5.3||1375||15||272||West Key: Vein 1 - 60 cm chip|
|HGS-092||0.862||3.6||1490||14||287||West Key: Vein 1 - grab|
|HGS-091c||12.65||81.4||17850||31||377||West Key: Vein 2 - grab|
|HGS-093a||0.512||5.1||114||40||76||West Key: Vein 3 - grab|
|HGS-093b||0.184||0.7||29||11||86||West Key: Vein 3: 25 cm chip|
|HGS-094a||0.028||92||12||133||West Key: Vein 4 - grab|
|HGS-094b||0.005||31||16||195||West Key: Vein 4 - 25 cm chip|
|SG12-07||12.65||26.7||3260||22||199||West Key: grab of 15 cm vein|
|HGS-099||7.5||11550||3||13||East Fault: grab copper in volcanics|
|Table 3||Drill Hole Specifications|
Drill samples were analyzed by ALS Chemex Labs Ltd. an ISO 9001:2000 certified laboratory. Troymet maintains a QAQC program whereby standard samples and blanks are inserted into each batch of samples to ensure quality control.
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.
TROYMET EXPLORATION CORP.
Kieran Downes, Ph.D., P.Geo., President, CEO & Director
This press release may contain certain forward-looking information. In particular, this press release contains forward-looking information in respect of potential expenditures and a potential discovery on the McClarty Lake project. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. 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 the Company''s current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports or prior exploration results, that the results it has received and the interpretation thereof are reliable and future costs and expenses being based on historical costs and expenses, adjusted for inflation. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company 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 the Company and its projects; general business, economic, competitive, political and social uncertainties; 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 the Company; 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 the Company''s disclosure documents on the SEDAR website at www.sedar.com. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
- Investment & Company Information