Troymet Intersects Porphyry Style Mineralization on Key Project
May 09 2011 - 7:30AM
Marketwired Canada
Troymet Exploration Corp. (TSX VENTURE:TYE) ("Troymet" or the "Company")
announces results from the winter reconnaissance diamond drilling program on its
100% owned Key project. The project is located 125 km southwest of Vanderhoof,
BC, and immediately adjoins the Blackwater project of Richfield Ventures Corp.
In total, 12 holes (1,576.8m) were drilled including five holes in the area of
Good News Lake and four holes on the Crag Grid on the west side of the property.
Three holes were lost in broken rubbly ground or in thick overburden.
The Company is pleased to report that drilling intersected highly anomalous
porphyry style mineralization in five widely-spaced holes in the area of Good
News Lake (Table 1; www.troymet.com/i/maps/Key_DH-IP.png and
www.troymet.com/i/maps/Key_DH-TMI.png;). A large porphyry target requiring
significant additional drilling is indicated.
Individual holes carry copper or molybdenum +/- zinc, and locally weak to
moderate silver and elevated to anomalous gold. The mineralization occurs in
altered volcanics capping a 2.5 x 3.0 km multi-phase intrusive. Interpreted
diatremes/breccia pipes lie within a distinct, weakly magnetic phase of the
intrusive. Garnet alteration, breccias and semi-massive to massive pyrite and
magnetite occur immediately south of Good News Lake. Induced polarization (IP)
surveying has outlined a prominent anomaly with chargeabilities of 20 to 60 mv/v
associated with the mineralization over a minimum of 1.2 km north-south and 3 km
east-west. The IP indicates the presence of a large hydrothermal system with
high sulphide content and may, in part, represent a pyritic halo. As well,
layered sphalerite mineralization occurs along the contact of mafic tuffs and
interbedded sediments on Tsacha Mountain, approximately 2.5 km to the north.
Drill holes Key-7, 8 and 9, drilled to test coincident IP and gold-in-soil
anomalies along and adjacent to the GN Fault, intersected a similar sequence of
felsic to intermediate tuffs that are variably magnetic, silicificed, pyritized
(3-15%), sericitized and brecciated with stringer and quartz vein/veinlet
stockworks. All three holes intersected locally anomalous mineralization and
altered and pyritized rocks throughout their entire lengths. Holes Key-8 and 9
tested targets approximately 180m west and 200m south of Key-7, respectively.
-- Hole Key-7 intersected 312.7 m of significantly anomalous molybdenum
along with intervals of anomalous to low-grade zinc mineralization,
anomalous copper and narrow intervals of anomalous gold (Table 1),
including:
-- 312.7m @ 0.02%MoS2
-- 45.5m @ 0.05% MoS2
Select molybdenum-rich samples contained 0.04 to 0.13 ppm rhenium.
Quartz-pyrite and quartz-pyrite-molybdenum-magnetite veins/veinlets are
developed throughout the entire section and sphalerite with trace
chalcopyrite occur locally. Alteration is present in narrow envelopes to
the veins; however, where multi-phase veining is present the rock
appears pervasively altered.
-- Hole Key-8 intersected several sections of anomalous to low-grade zinc
mineralization, and anomalous silver, gold and lead, including:
-- 122.5m @ 452 ppm Zn & 0.012 g/t Au & 1.1 ppm Ag
-- 4.3m @ 0.114 g/t Au & 2.8 ppm Ag
-- Hole Key-9 intersected strongly anomalous zinc, silver, gold and lead
mineralization, including:
-- 45.8m @ 0.01 g/t Au; 2.5 g/t Ag & 961 ppm Zn
-- 5.0m @ 0.05 g/t Au; 11.1 g/t Ag & 2279 ppm Zn
Hole Key-10, collared 2.2 km NE of Key-7, tested a coincident IP and
copper-in-soil anomaly on the East Fault. It intersected silicified and
pyritized (1-10%) alteration within felsic to intermediate volcanics with
stringer quartz-pyrite-pyrrhotite veins/veinlets to 204.2 m. The zone also
carries anomalous copper and tungsten.
Hole Key-12, drilled to test an IP anomaly, intersected monzonite intrusive with
mafic dyking in the upper part of the hole. The monzonite carries disseminated
pyrite (1-10%) throughout together with quartz-pyrite+/-chalcopyrite veins and
stringers accompanied by anomalous copper values.
Table 1. Significant Drill Results
----------------------------------------------------------------------------
Hole From To Width Au Ag Cu Pb Zn Mo MoS2 W
(m) (m) (m) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (%) (ppm)
----------------------------------------------------------------------------
Key-7 6.1 318.8 312.7 131 0.02
----------------------------------------------------------------------------
incl 52.0 229.0 177.0 181 0.03
----------------------------------------------------------------------------
and 73.0 116.5 43.5 216.8 0.04
----------------------------------------------------------------------------
incl 181.8 227.3 45.5 287.3 0.05
----------------------------------------------------------------------------
31.0 45.0 14.0 673
----------------------------------------------------------------------------
incl 34.8 38.5 3.7 1237
----------------------------------------------------------------------------
50.0 62.0 12.0 590
----------------------------------------------------------------------------
incl 58.0 59.0 1.0 4680
----------------------------------------------------------------------------
31.1 41.5 10.4 142
----------------------------------------------------------------------------
110.5 183.0 72.5 149
----------------------------------------------------------------------------
181.75 183.0 1.25 0.145
----------------------------------------------------------------------------
265.1 266.78 1.68 0.144
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Key-08 3.05 125.58 122.53 0.01 1.10 96 452
----------------------------------------------------------------------------
incl. 3.05 5.6 2.55 0.01 2.50 957 1627
----------------------------------------------------------------------------
and 27.0 47.4 20.4 0.01 1.87 111 418
----------------------------------------------------------------------------
and 59.0 64.6 5.6 0.09 2.46 120 413
----------------------------------------------------------------------------
incl. 59.0 63.3 4.3 0.11 2.83 136 319
----------------------------------------------------------------------------
and 77.65 85.7 8.05 0.02 1.60 50 1719
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Key-09 25.4 71.2 45.8 0.01 2.50 151 961
----------------------------------------------------------------------------
incl. 34.7 48.8 14.1 0.02 5.81 321 1484
----------------------------------------------------------------------------
incl. 41.8 46.8 5.0 0.05 11.13 494 2279
----------------------------------------------------------------------------
and 124.7 125.0 0.3 0.06 7.10 4080 486
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Key-10 15.24 204.22 188.98 375 17
----------------------------------------------------------------------------
incl. 125.14 128.08 2.94 1393 59
----------------------------------------------------------------------------
and 149.05 151.55 2.50 1268 30
----------------------------------------------------------------------------
and 185.93 186.7 0.77 1005 5
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Key-12 112.6 138.5 25.9 less less 280
than than
0.005 0.5
----------------------------------------------------------------------------
incl. 128.15 129.15 1.0 0.027 13.9 1040
----------------------------------------------------------------------------
Hole Key-11 attempted to test one of the possible diatremes in the intrusive
(September 16, 2010 news release) but was lost in thick overburden.
Four holes tested targets on the Crag grid located on the west side of the
property. Holes Key-3 and 5 tested coincident induced
polarization/gold-in-soil/surface gold targets, while holes Key-4 and 6 tested
two VTEM targets. The VTEM anomalies appear to be associated with fault/breccia
zones in felsic to intermediate volcanics with local vein/disseminated pyrite.
The IP/gold-in-soil/surface gold targets comprise silicified and pyritised
(trace to 1%) felsic to intermediate volcanics. No significant values were
returned. Holes Key-1 and 2 were lost in broken, rubbly ground and did not reach
target depth.
Troymet is currently mobilizing a field crew to the property to continue
prospecting and sampling in unexplored areas of the large (8,854 ha) property.
The Company has also contracted specialists in glacial till mapping and sampling
to advise and guide the field program. To date, less than a third of the
property has been explored in any detail.
Additional IP surveying and soil sampling are planned to delineate the extent of
the porphyry system prior to resumption of diamond drilling. A number of drill
targets in the area of Tsacha Mountain were inaccessible during the winter
program due to terrain and weather, and are expected to be drilled this summer.
Following receipt of all assays, the Company plans to schedule additional
geophysical programs and diamond drilling.
Samples were assayed at ALS Chemex, Vancouver, BC, an ISO 9001:2000 accredited
facility. On-site management of the drill program was provided by Casselman
Geological Services Ltd. All technical information for the Company's Key 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/QAQC-Key.pdf.
Independent consultant, Scott Casselman, P.Geo., of Casselman Geological
Services Ltd., is a qualified person as defined by NI 43-101 and has reviewed
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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