Troymet Exploration (TYE-V) Sept 19, '16 is pleased to announce that crews are mobilizing to its Redhill project to start the 1,000 metre diamond drilling program. Drill targets include both volcanogenic massive sulphides and gold mineralization. Troymet has completed an extensive 3DIP survey, detailed prospecting, and a large, two-phase soil sampling program on the Alpha zone, as well as compiling all of the historical exploration data. This work has identified a number of significant and untested drill targets as well as potential, untested extensions to the VMS prospect.
Three stacked prospective volcanic horizons are recognized, dipping steeply to the west ( Figure 1). Volcanogenic massive sulphide mineralization is present in all three horizons and all have associated chargeability anomalies.Troymet’s 3DIP survey allows the geometry of the chargeability and resistivity associated with the mineralization to be examined at depths ranging from 5 to 400 metres below surface.
Troymet is targeting horizons 2 and 3.Horizon 3 is located ~70 m into the hanging wall of the VMS prospect (8.75% copper, 4.75% zinc, 1.22 g/t gold & 61.19 g/t silver over 2.04 metres) which is associated with a 200 metre long Fixed Loop Transient EM conductor as well as Borehole Transient EM conductors.
Horizon 3 is ~100 metres wide at its northwest end but it is not exposed along strike to the south.The 3DIP data shows chargeability and resistivity, in horizon 3, increasing in size and coherency to +/- 200 metres depth.Two large chargeability anomalies are identified; one (> 20 milliseconds), over an area of ~280 x 260 metres, just west of the VMS prospect, and another (16-18 milliseconds), over an area ~ 210 x 100 metres, in the southeast part of the grid. These anomalies may represent (in part) slumped/mechanically transported sulphides as angular sulphide and bedded sulphide in breccia blocks have been found on this horizon (News Release of July 25, 2016). The >20 millisecond anomaly is stratigraphically above the VMS prospect and it may have been fed by the same feeder/stringer zone that generated the VMS prospect. The 16-18 millisecond anomaly has an associated 100 metre long Fixed Loop Transient EM conductor.
Historically, only two holes, almost 400 metres apart, have been drilled in horizon 3.Hole R98-05, which tested VMS mineralization exposed at surface, intersected low grade copper and zinc mineralization but it did not test the strong chargeability anomaly ( Figure 2).Hole S-84-2 was drilled to test a UTEM conductor. There is no information as to what this hole intersected other than a reference to it having intersected up to 30% pyrite at the bottom of the hole (BC ARIS assessment report 28371).The hole did not test the strong chargeability anomaly ( Figure 3).
The gold-in-soil anomaly is aligned along the northeast edge of a resistivity high, in a magnetic low, in a diorite intrusive. Prospecting has identified shearing with local quartz and quartz-carbonate veining along the magnetic low.
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 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 EXPLORATION CORP.
Kieran Downes, Ph.D., P.Geo.
President, CEO & Director
For further information, contact:
Investor Relations
Tel: 250-729-0453
Email: info@troymet.com
Website: www.troymet.com |
