TROYMIN RESOURCES LTD.
(TYR-ME,ASE)
ACTIVITY UPDATE
Calgary, Alberta August 13, 1998
Buffalo Hills Diamond Prospect, Alberta:
Monopros Limited has completed initial ground checking of magnetic anomalies, conducted sediment sampling over all of the claim blocks, and initiated drift thickness and glacial geology studies over the area. To date, none of the high priority airborne mag anomalies have been eliminated by this work. A detailed follow-up geophysical program utilizing the new High-Sense helicopter DiaMag system, rather than ground surveys, is now underway to further define and evaluate these prospective anomalies.
Sediment sampling has included reconnaissance fences across the properties and down ice sampling of geophysical anomalies. About 500 samples have been collected, of which 145 are being processed and sorted for kimberlite indicator minerals at Monopros facilities in Canada, while the balance will be processed here and sorted in South Africa.
Interpretation of the detailed geophysical surveys and initial sample results are expected by month end, at which time targets will be prioritized for the drill program. Subject to positive geophysical results, drilling operations are expected to commence on the drier accessible targets this fall, with a follow-up winter program on the wetter less accessible targets after freeze-up.
Prospector Mountain Cu-Au Prospect, Yukon:
A summer exploration program consisting of geological mapping, rock sampling and ground geophysical surveys has been completed in the eastern part of the property. Results are expected shortly and will be combined with the current information to determine future programs on the property.
Corporate:
With working capital of $2.1 million and no debt at year end June 30, 1998, Troymin is well positioned to sustain exploration momentum in these particularly unsettling times for junior mining companies.
FOR FURTHER INFORMATION, PLEASE CONTACT:
CALGARY VANCOUVER
Jack D. McCleary (403)298-0252 Tom Boychuk (604)681-7610
Fax: (403)262-8786] Fax: (604)689-7645
email: troymin@troymin.com 1-800-557-1545
website: troymin.com |
