Troymet Confirms Intrusion Related Gold System on Golden Eagle Project
February 24 2009 - 6:30AM
Marketwired Canada
Troymet Exploration Corp. (TSX VENTURE:TYE) ("Troymet" or the "Company") is
pleased to report on the 2008 diamond drilling and prospecting program at its
100% owned Golden Eagle project in northwest British Columbia. Results indicate
the presence of large intrusion-related gold system spanning the approximate
12-kilometre strike length of the northern half of the Golden Eagle property.
Multiple zones of gold mineralization, previously investigated in isolation in
this area, are now considered as underlying vectors toward a related
bulk-tonnage gold deposit(s).
To date, only a limited portion of the Tannis zone has been drill tested as an
intrusive-hosted gold target, and drilling was largely confined to the younger
rhyolitic intrusive. The possible roots of the vein system in the larger
underlying granitic phase were not targeted in this drill program and deeper
drilling in this area is required. Diamond drilling in 2008 was confined to a
250-metre strike length of the Tannis zone along the north slope of Middle
Ridge. Twelve holes (2,306 metres) were drilled to follow up high-grade
gold-silver mineralization previously intersected in 2005-2006 (Reference: Sept.
24, 2007 news release). Drill intersections indicate the highly variable nature
of the quartz-sulphide veins both in terms of metal content and continuity along
strike and at depth. The best intersections returned 5.09 m @ 7.93 g/t Au and
23.8 g/t Ag and 4.3 m @ 2.05 g/t Au and 43.8 g/t Ag (Table 1). The mineralized
system is demonstrated to continue along a strike length of nearly 150 metres
and to greater than 200 metres down dip in both the rhyolitic and granitic
intrusions. Arsenopyrite (+ pyrite) as disseminated, replacement-type and
stringer mineralization within quartz veins was encountered in all eleven of the
holes that reached target depth.
Table 1. Tannis Zone - 2008 Significant Drill Results
----------------------------------------------------------------------------
Azm Dip
Collar Collar (degr- (degr- From To Length Gold Silver
Hole ID UTM N UTM E ees) ees) (m) (m) (m) (g/t) (g/t)
----------------------------------------------------------------------------
TAN08-05 6637037 509375 165 -45 156.48 157.78 1.30 1.61 N/A
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TAN08-08 6637005 509226 165 -45 86.94 88.38 1.44 1.42 11.9
----------------------------------------------------------------------------
TAN08-08 143.39 143.79 0.40 2.53 38.0
----------------------------------------------------------------------------
TAN08-08 197.82 199.16 1.34 3.07 12.0
----------------------------------------------------------------------------
TAN08-08 199.16 225.25 26.09 0.103 N/A
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TAN08-09 6637005 509226 165 -60 131.30 136.39 5.09 7.93 23.8
----------------------------------------------------------------------------
including 132.84 133.14 0.30 3.85 31.0
----------------------------------------------------------------------------
and 134.70 135.27 0.57 66.20 145.0
----------------------------------------------------------------------------
TAN08-09 211.59 212.22 0.63 3.30 57.0
----------------------------------------------------------------------------
TAN08-09 212.22 246.58 34.36 0.067 N/A
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TAN08-10 6636928 509241 165 -45 15.24 15.54 0.30 1.94 5.0
----------------------------------------------------------------------------
TAN08-10 40.17 44.47 4.30 2.05 43.8
----------------------------------------------------------------------------
including 42.17 43.17 1.00 5.01 108.0
----------------------------------------------------------------------------
TAN08-10 67.59 67.89 0.30 11.05 14.0
----------------------------------------------------------------------------
TAN08-10 108.21 108.51 0.30 1.14 65.0
----------------------------------------------------------------------------
TAN08-10 191.52 191.82 0.30 1.27 6.0
----------------------------------------------------------------------------
----------------------------------------------------------------------------
less
than
TAN08-11 6637009 509385 165 -45 114.62 115.02 0.40 1.96 1
----------------------------------------------------------------------------
less
than
TAN08-11 116.02 116.32 0.30 1.21 1
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TAN08-12 6636975 509422 135 -45 32.44 32.74 0.30 13.15 12.0
----------------------------------------------------------------------------
TAN08-12 38.05 41.15 3.10 0.97 N/A
----------------------------------------------------------------------------
including 38.99 40.22 1.23 1.70 N/A
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TAN08-13 6636975 509422 135 -60 43.29 43.69 0.40 3.93 6.0
----------------------------------------------------------------------------
TAN08-13 48.34 50.18 1.84 0.70 13.3
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TAN08-15 6637063 509287 165 -55 219.58 225.81 6.23 0.35 5.9
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TAN08-16 6636956 509178 165 -45 13.89 18.08 4.19 0.60 N/A
----------------------------------------------------------------------------
including 13.89 15.74 1.85 1.06 14.9
----------------------------------------------------------------------------
TAN08-16 25.94 26.82 0.88 2.04 14.0
----------------------------------------------------------------------------
TAN08-16 143.11 156.25 13.14 0.19 N/A
----------------------------------------------------------------------------
Widths represent down hole core lengths; true widths for the upper zone
cannot be reliably estimated at this time.
During the 2008 program, mapping and prospecting in the vicinity of the Tannis
zone further defined the quartz-sulphide vein system along a northwest trend
nearly five kilometres in length. Taking into account similar mineral
occurrences in other parts of the property, this length is extended to upwards
of eight kilometres. Highlights of the prospecting (124 rock samples collected)
are presented in Table 2.
Table 2. Highlights of 2008 Prospecting on North Mountain, Middle Ridge and
South Mountain
----------------------------------------------------------------------------
Sample Location Location Gold Silver Lead Sample
Sample # Area UTM N UTM E g/t g/t % Type
----------------------------------------------------------------------------
C201134 North Mountain 6639053 506558 0.301 75 3.16 Grab
----------------------------------------------------------------------------
C287113 North Mountain 6639138 506901 18.0 16 0.015 Grab
----------------------------------------------------------------------------
less
C287114 North Mountain 6639099 506828 3.64 than 1 0.001 Chip
----------------------------------------------------------------------------
less than
C287115 North Mountain 6639094 506824 10.68 5 0.001 Grab
----------------------------------------------------------------------------
C287116 North Mountain 6639041 506796 4.11 3 0.001 Grab
----------------------------------------------------------------------------
C287117 North Mountain 6639076 506690 3.45 2 0.001 Grab
----------------------------------------------------------------------------
C201101 Middle Ridge 6637155 508821 2.37 11 0.087 Grab
----------------------------------------------------------------------------
C202110 Middle Ridge 6637191 508680 13.75 8 0.002 Grab
----------------------------------------------------------------------------
C202111 Middle Ridge 6637196 508661 8.3 5 0.003 Grab
----------------------------------------------------------------------------
C202112 Middle Ridge 6637206 508632 8.96 3 0.005 Grab
----------------------------------------------------------------------------
C287128 Middle Ridge 6636876 509048 1.98 81 0.305 Float
----------------------------------------------------------------------------
C287129 Middle Ridge 6636880 509022 9.46 41 0.009 Grab
----------------------------------------------------------------------------
C287132 Middle Ridge 6636951 508942 3.44 4 0.004 Grab
----------------------------------------------------------------------------
C287133 Middle Ridge 6636956 509048 3.64 11 0.009 Grab
----------------------------------------------------------------------------
C287134 Middle Ridge 6636953 509026 2.56 2 0.001 Grab
----------------------------------------------------------------------------
less than
C287135 Middle Ridge 6636893 509041 3.6 9 0.001 Grab
----------------------------------------------------------------------------
C201113 Middle Ridge 6636558 509383 1.19 10 0.006 Grab
----------------------------------------------------------------------------
C201120 Middle Ridge 6636383 509304 2.02 377 0.646 Grab
----------------------------------------------------------------------------
C201121 Middle Ridge 6636398 509329 2.48 24 0.031 Grab
----------------------------------------------------------------------------
C202146 South Mountain 6635905 510013 1.32 25 0.142 Grab
----------------------------------------------------------------------------
C202147 South Mountain 6635939 510036 7.91 1250 0.355 Grab
----------------------------------------------------------------------------
C287125 South Mountain 6635865 510035 1.42 3 0.01 Grab
----------------------------------------------------------------------------
C287126 South Mountain 6635873 510021 2.57 274 13.85 Grab
----------------------------------------------------------------------------
C201143 South Mountain 6635962 510033 4.27 47 0.708 Grab
----------------------------------------------------------------------------
C201144 South Mountain 6635929 510054 2.62 111 0.171 Grab
----------------------------------------------------------------------------
C201145 South Mountain 6635916 510010 5.22 165 0.071 Grab
----------------------------------------------------------------------------
C201146 South Mountain 6635902 510062 5.15 191 2.75 Grab
----------------------------------------------------------------------------
C201147 South Mountain 6635957 510022 1.15 25 0.04 Grab
----------------------------------------------------------------------------
C201148 South Mountain 6635939 509963 1.35 72 0.039 Grab
----------------------------------------------------------------------------
C201150 South Mountain 6635929 510070 1.42 167 0.61 Grab
----------------------------------------------------------------------------
C286616 South Mountain 6636033 509984 0.306 115 1.16 Grab
----------------------------------------------------------------------------
C286618 South Mountain 6636047 509979 1.33 64 0.504 Grab
----------------------------------------------------------------------------
At Tannis, the mineralization is hosted in rhyolitic intrusive, in granitic
intrusive at depth beneath the rhyolite, and to a lesser extent in the flanking
mafic volcanics. Further to the north, the rhyolitic and granitic intrusives are
capped by sediments and mafic volcanics of variable thickness. Multiple zones of
gold-silver-arsenic-antimony mineralization (e.g. Plateau, Skarn, West Gully,
Cowboy, and West Draw zones) occur in this approximate 3 x 3 kilometre area.
These zones have previously been investigated in isolation and not considered as
underlying vectors toward a related bulk-tonnage gold deposit(s). This northern
portion of the Golden Eagle property is shown by the British Columbia Geological
Survey's stream sediment sampling to contain exceptionally anomalous values in
gold (to 1080 ppb), gold indicator metals (arsenic, antimony and mercury) and
base metals (BCGS Bulletin 105). In file GF2003-9, the BCGS noted the
volcano-sedimentary setting is analogous to that at Eskay Creek.
The northwest trend of the quartz-sulphide vein occurrences on the property
mirrors the trend of the Llewellyn fault zone, a regionally significant
structure that cuts through the project area and has a strong correlation with
the majority of mineral occurrences in the region.
Observations from mapping and drill core indicate that the quartz-sulphide veins
are synchronous with late-stage cooling of the Late Cretaceous granite pluton
and the slightly later rhyolitic intrusion. The quartz-sulphide vein system has
been documented over an eight kilometre north-westerly trend within the central
portion of the property, with intervening glacial valleys that are covered by
overburden and remain underexplored. The northwest portion of the property (e.g.
Plateau, Skarn, West Gully, Cowboy and West Draw zones) contains anomalous
multi-element stream geochemistry and notable gold intersections from trenches
and drill core as skarn-type mineralization in meta-volcanic rocks bordering
Cretaceous intrusions. The southeast portion of the property (e.g. Camp and
Carbonate zones) includes an area of quartz-carbonate stockwork veining variably
mineralized with gold, copper and zinc in mafic volcanics.
The style and areal extent of mineralization at Golden Eagle strongly suggest a
reduced intrusion-related gold system (RIRGS). RIRGS are characterized by
widespread arrays of sheeted auriferous quartz veins, forming bulk-tonnage,
low-grade gold deposits at the top of small plutons. Well known examples include
the Fort Knox (Alaska) and Dublin Gulch (Yukon) deposits of the Tintina Gold
Belt. RIRGS also include a wide range of intrusion-related mineral deposit
styles including skarns, replacements and distal veins that form within the
region of hydrothermal influence surrounding the causative pluton. All of these
characteristics are well represented over the 25-kilometre span of the Golden
Eagle property.
The 2008 prospecting program identified a new drill target on South Mountain
where a cluster of nine gold and silver bearing veins were discovered within an
approximate 100 x100 metre area (Table 2). This area lies approximately 1.5
kilometres southeast of the Tannis zone. With the recognition that the multiple
zones of gold mineralization in the north half of the property are related to a
large intrusion-related gold system, the focus of future exploration will be on
the identification of gold targets in this area. The Company is working to
integrate all geological, drill, geochemical and geophysical data to identify
high impact intrusive-related gold drill targets in the north half of the
project.
Tracy Hurley, P.Geo., Vice President, Exploration and qualified person as
defined by National Instrument 43-101 is responsible for the technical
information provided in this release. The 2008 drilling and prospecting program
was managed by Equity Exploration Consultants Ltd. of Vancouver BC. All samples
were sent to the ALS Chemex sample preparation facility in Terrace, BC and
analysed at the ALS Chemex laboratory in Vancouver BC, an ISO 9001:2000
accredited facility. All technical information for the Company's Golden Eagle
project is obtained and reported under a formal quality assurance and quality
control (QA/QC) program, details of which are presented on the Company's website
at: www.troymet.com/i/pdf/QAQC2-GE.pdf.
TROYMET EXPLORATION CORP.
Kieran Downes, Ph.D., P.Geo., President, CEO & Director
This press release may contain "forward-looking information" within the meaning
of applicable Canadian securities legislation. All statements, other than
statements of historical fact, included herein may be forward-looking
information. Generally, forward-looking information may be identified by the use
of forward-looking terminology such as "plans", "expects" or "does not expect",
"proposed", "is expected", "budgets", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or variations
of such words and phrases, or by the use of words or phrases which state that
certain actions, events or results may, could, would, or might occur or be
achieved. 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, 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. Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause results not
to be as anticipated, estimated or intended. Accordingly, readers should not
place undue reliance on forward-looking information. The Company does not
undertake to update any forward-looking information, except in accordance with
applicable securities laws.
Troymet Exploration Corp. (TSXV:TYE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Troymet Exploration Corp. (TSXV:TYE)
Historical Stock Chart
From Jul 2023 to Jul 2024
