Troymet Initiates Exploration Program on Key Project
29 Mayo 2012 - 7:30AM
Marketwired Canada
Troymet Exploration Corp. (TSX VENTURE:TYE) ("Troymet" or the "Company") is
pleased to report it has commenced mobilization of crews to the Key project to
begin its fully funded $1M exploration and diamond drilling program.
Program Highlights:
-- 3,000 metres of diamond drilling budgeted; will be expanded with
success.
-- Initial focus on targets at/near the boundary of New Gold's Blackwater
property, which will be the first drilling ever conducted in this area.
-- Evaluation and follow up of gold-in-soil anomalies identified over
approx. 4,200 ha (approx. 42 km2) area.
Kieran Downes, President and CEO, stated, "This is Troymet's second summer field
season exploring for precious metals on the Key project, where the Company's
exploration programs have identified a number of high potential gold targets.
Troymet's goal in the current program is to quickly identify and refine drill
targets in the gold anomalous zones, and to test these and other existing drill
targets in a cost effective and efficient manner."
A heavy snow pack this year delayed the start-up of the field program. Troymet
recently completed its evaluation and prioritization of the various gold-in-soil
anomalies identified in the Company's 2010 and 2011 soil sampling programs (see
News Release of January 19, 2012). The 2011 soil sampling program, which focused
on the east half of the property, identified several anomalous trends and
clusters hosted in glacial till, especially in the central and northeast sectors
of the property. Gold anomalies are less pronounced in the southeast quadrant
where ablationary till and fluvio-glacial deposits are common, and these may
have modified the original gold-in-soil anomalies.
The gold-in-soil anomalies were identified by sampling every 50 metres along 200
metre spaced lines. The Company plans more detailed sampling (every 25 metres
along 100 metre spaced lines), prospecting and induced polarization ("IP")
surveys over seven principal anomalous zones (Table 1;
www.troymet.com/i/maps/Key_Au-Zones.jpg) prior to diamond drilling. As well,
prospecting and sampling will be conducted over anomalies in the southeast
quadrant to determine if drill targets are also present there. Troymet also
plans to complete soil sampling, prospecting and mapping over the western half
of the property in summer 2012.
Table 1. Principal Anomalous Zones
----------------------------------------------------------------------------
Anomaly Width Length Element
/ Zone (m) (m) Peak Values Association
------------------------------------------
Au Ag As Cu Pb Zn
(ppb) (ppm) (ppm) (ppm) (ppm) (ppm)
----------------------------------------------------------------------------
Au, Ag, As,
GN Lake 170 800 420 5.33 46.5 802.0 145.5 974.0 Cu
----------------------------------------------------------------------------
GN Lake Au, Ag, As,
W 980 980 340 2.10 230.0 260.0 234.0 750.0 Cu, Pb, Zn
----------------------------------------------------------------------------
Blue Au, Ag, As,
Road 600 2,400 243 1.56 52.1 330.0 38.2 222.0 Cu
----------------------------------------------------------------------------
Valley
Fault 260 340 151 0.79 3.7 21.7 8.3 72.0 Au
----------------------------------------------------------------------------
East Au, Ag, As,
Fault 400 2,600 114 2.80 348.0 577.0 57.7 382.0 Cu
----------------------------------------------------------------------------
Mt Au, Ag, As,
Tsacha 350 350 35 0.90 439.0 249.0 91.0 774.0 Cu, Pb, Zn
----------------------------------------------------------------------------
Far
North 140 200 16 1.52 46.7 29.8 22.7 83.4 Au, Ag, As
----------------------------------------------------------------------------
The 100% owned (8,854 ha) Key project located in central British Columbia has
significant discovery potential and is road accessible. It is strategically
located immediately adjacent to New Gold Inc.'s Blackwater gold deposit. On
March 7, 2012, New Gold announced the following NI 43-101 compliant mineral
resource estimate for the Blackwater deposit:
-- Indicated gold resource: 174 million tonnes at an average grade of 0.98
grams per tonne containing 5.5 million ounces of gold at a 0.4 gram per
tonne cut-off grade.
-- Inferred gold resource: 92 million tonnes at an average grade of 0.78
grams per tonne containing 2.3 million ounces of gold at a 0.4 gram per
tonne cut-off grade.
Casselman Geological Services Ltd. is providing technical management of the
field program for the Company. 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. All
statements included herein, other than statements of historical fact, is
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. A description of assumptions used to
develop such forward-looking information and a description of 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.
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