Troymet Updates Progress and Expands Program at Key Gold Project
July 24 2012 - 7:00AM
Marketwired Canada
Troymet Exploration Corp. (TSX VENTURE:TYE) ("Troymet" or the "Company") is
pleased to update exploration progress on its 100% owned flagship Key project in
British Columbia, where a planned $1 million exploration program, including
diamond drilling, is underway. Detailed soil sampling of the principal
gold-in-soil anomalous zones has been completed and assays are pending.
Prospecting and sampling is continuing to complete coverage over the numerous
target areas. Outcrop exposure on the property is sparse, hence overburden
trenching is planned and induced polarization ("IP") grids are also being
established over the target zones. The trenching and IP surveys are designed to
refine new diamond drill targets. For additional information please visit
www.troymet.com/s/Key.asp.
Troymet is also pleased to report that its mapping, prospecting and sampling
program is being expanded as a consequence of new logging on the property by
Canfor. Canfor recently started logging in several areas (approximately 1,300
hectares) that overlap, in part, the:
-- East Fault, GN Fault and Valley Fault
-- GN Lake West zone, Mt. Tsacha zone, East Fault zone and Blue Road zone
The Company anticipates that significant new exposures will be created by the
logging and new mineralized zones may be exposed. In addition, the logging
program will create multiple new access routes to the various target zones and
this will facilitate easy access for diamond drilling.
The Key project (8,854 ha) has significant discovery potential and is road
accessible. It is strategically located adjacent to New Gold Inc.'s Blackwater
gold deposit where an updated National Instrument 43-101 compliant mineral
resource estimate was recently announced (New Gold news release of July 18,
2012):
-- Indicated mineral resource: 230 million tonnes at an average grade of
0.96 grams gold per tonne containing 7.1 million ounces of gold at a
0.40 gold-equivalent gram per tonne cut-off grade
-- Inferred mineral resource: 98 million tonnes at an average grade of 0.77
grams gold per tonne containing 2.5 million ounces of gold at a 0.40
gold-equivalent gram per tonne cut-off grade
Kieran Downes, P. Geo., a Qualified Person as defined by National Instrument
43-101, has reviewed and approved the contents of 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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