Troymet Reports Assays From Key Project
January 14 2013 - 6:07AM
Marketwired Canada
Troymet Exploration Corp. (TSX VENTURE:TYE) ("Troymet" or the "Company") reports
results from the fall, reverse circulation drilling program on its 100% owned
Key gold project in British Columbia (16 holes - 867 metres). Active logging
severally restricted access for drilling with the result that only four target
areas were drilled: Buzz, SGN, Blue and P1A
(www.troymet.com/i/maps/Key_Au-DH-PA1.jpg). Access to the SGN anomaly was
restricted to the northern end of the anomaly at Good News Lake - the core of
the anomaly has not been drilled. Access to the Blue anomaly was restricted to
two sites (www.troymet.com/i/maps/Key_Au-DH-PA2.jpg). Hole RC- 10 intersected
bedrock gold mineralization in the Buzz B anomaly; holes RC-15 and RC-16
intersected wide zones of alteration carrying anomalous gold +/- silver at the
north end of the SGN anomaly; and hole RC-01 intersected anomalous copper over a
significant width in the Blue anomaly. The area continues to be actively logged
and it is anticipated that there will be excellent access for drilling of all
target areas and for surface exploration upon completion of the logging program.
The 8,854 hectare Key project is strategically located immediately adjacent to
New Gold Inc.'s Blackwater gold deposit where a positive Preliminary Economic
Assessment was announced on September 20, 2012.
Buzz Anomaly
The Buzz gold-in-soil anomaly occurs on a rugged NW-trending ridge along the GN
Fault in an area of generally shallow overburden cover. The anomaly occurs
within an area approximately 1,400 metres long and ranging in width from 600 to
900 metres. There are three parts to the anomaly:
-- Buzz A: approx. 1,300 metres long and 200 metres wide.
-- Buzz B: approx. 500 metres long and 200 metres wide, it flanks the Buzz
A to the northwest.
-- Buzz C: approx. 350 metres long and 250 metres wide, it flanks the Buzz
A to the southwest.
The drill program tested for bedrock gold mineralization under and adjacent to
high gold-in-soil anomalies regardless of whether there was an associated
induced polarization anomaly. Holes RC-08, RC-09 and RC-10, drilled on a approx.
125 metre long east-west section through the Buzz B (max. value 0.22 g/t Au),
intersected bedrock gold-silver mineralization - elevated values in RC-09 and
significant values in RC-10 (0.38 g/t gold over 13.71 metres including 2.74 g/t
gold over 1.52 metres - Table 1). The mineralization occurs within the peak of
the Buzz B anomaly and is open to the north, south, east and to depth. Holes
RC-09 and RC-10 were drilled heel to toe. The mineralization in both holes
starts immediately in the sub-crop indicating the Buzz B gold-in-soil anomaly is
reflecting bedrock gold mineralization.
Hole RC-03 and RC-04 (Buzz C) were drilled as 25 metre step outs, north and
south respectively, of the silver intersection in hole Key-09(1) (11.13 g/t
silver, 0.23% zinc and 0.05 g/t gold over 5.0 metres). Hole RC-04 intersected 2
sections with anomalous silver (Table 1).
Holes RC-05, RC-06 and RC-07 (Buzz C) were drilled on an approx. 110 metre long
east-west section to the west of Key-09. Hole RC-05 intersected two intervals
with anomalous silver (Table 1). The hole is anomalous throughout in zinc.
Holes RC-11 and RC-14 (Buzz A), were drilled to test a peak gold-in-soil anomaly
of 0.34 g/t gold. RC-14 intersected several intervals of significantly anomalous
molybdenum (Table 1) which correlate well with the molybdenum intersections in
Key-07(1) approx. 200 metres to the south. RC-11 also intersected anomalous, but
lower, molybdenum and copper values.
The multi-element soil anomalies appear to be mapping bedrock mineralization.
Important drill targets remain to be drill tested.
(1)News Release of May 9, 2011
SGN Anomaly
The SGN gold-in-soil anomaly extends south from Good News Lake for approximately
2,000 metres. The anomaly ranges in width from approx. 380 metres in the north
to approx. 200 metres in the south. Induced polarization survey lines were
completed at three locations to position the anomaly for drill testing. Line
1was surveyed at the northern limit of the anomaly at Good News Lake. Lines 2
and 3 were surveyed further south. The data indicates an east dipping structure.
The shape of the soil anomaly appears to be a product of a glacial transport
direction from the southwest intersecting an east dipping, north to northwest
trending structure.
The induced polarization survey on Line 1 indicated a coincident strong
chargeability and resistivity anomaly, approximately 550 metres wide, just north
of peak gold-in-soil values of 0.42 g/t and 0.14 g/t gold. Holes RC-15 and RC-16
were collared approx. 190 metres apart and drilled westerly to test the anomaly.
Hole RC-15 intersected variably bleached and altered andesitic volcanics
carrying disseminated pyrite (trace to greater than 5%) and disseminated and net
textured magnetite (trace to 2%) from surface to 62.48 metres. The hole cut two
intervals of anomalous gold +/- silver (Table 1). Hole RC-16 intersected quartz
veining, silicification and haematization in bleached and pyritic (trace to 2%)
andesitic volcanics from 9.14 metres to the end of the hole at 70.10 metres. The
interval 10.67 to 45.72 metres contains anomalous gold values (Table 1). The
interval 22.86 to 45.72 metres also carries anomalous silver values.
The two holes were not drilled in the best part of the anomaly which is between
300 - 400 metres to the south. Here, peak gold-in-soil values are 0.25 to 0.50
g/t, and there is gold (0.22 g/t), silver (14.3 g/t) and tungsten (260 ppm) in a
surface sample(2).
Blue Anomaly
The Blue anomaly comprises a trend of gold-in-soils that initially trends to the
north and then arcs to the northeast across the East Fault. This orientation
approximates the orientation of the Blackwater gold deposit. Currently, no
controlling structure is recognized.
Hole RC-01 was drilled to test a coincident chargeability high and a copper- and
gold-in-soil anomaly. It intersected 1.34 g/t silver and 0.12% copper over 23.17
metres in hornfelsed and sulphidized felsic to mafic volcanics, locally
displaying quartz veinlets and trace disseminated chalcopyrite. RC-02 was
collared approx. 500 metres north of RC-01 to test a gold-in-soil anomaly on the
East Fault. It intersected a narrow interval of anomalous gold starting at 4.57
metres in pyritic micro-diorite (Table 1).
P1A Anomaly
The P1A VTEM anomaly is located on the GN Fault in an area of rugged topography.
Holes RC-12 and RC-13 tested the anomaly. The two holes intersected andesitic
volcanics carrying disseminated and veinlet controlled minor magnetite and
pyrrhotite as well as trace pyrite. Both holes intersected anomalous zinc but no
anomalous gold or silver values (Table 1).
Prospecting
There is widespread overburden coverage and limited bedrock exposure in the
target areas. Prospecting was carried out in conjunction with the soil sampling
program which finished in July 2012. Subsequently, the principal target areas
were again prospected to ensure complete coverage. New exposures created by
logging were prospected prior to the start of drilling. The best results were
obtained from the Key West area and from copper rich volcanics along the East
Fault (Table 2). The original surface gold discovery (4.57 g/t gold(2)) targeted
by hole Key-01 at West Key was excavated by hand. Four mineralized narrow quartz
veins, three of which are gold-silver-copper bearing, were traced over
approximately 15 metres before disappearing under thick overburden. Active
logging has opened up this area and further exploration is required to evaluate
the shear zone/quartz vein system. Malachite was found in quartz-carbonate
veined vesicular mafic volcanics at the southern end of the East Fault (Table
2).
Check Assaying
Check assaying was conducted on 50 samples for gold and 100 samples for silver,
copper, lead and zinc. The check assays were processed through a 150 micron
sieve (versus a standard 75 micron sieve) to determine if there was any coarse
gold present. None was detected. Check analyses for silver, copper, lead and
zinc used 2 grams of sample to ensure that a larger, more representative sample
of the 150 micron split was analyzed. There were no significant changes from the
initial analyses.
(2) Technical Report, Key Property, British Columbia, Canada - SEDAR Filed June
12, 2012
Table 1 Significant Drill Results
----------------------------------------------------------------------------
Hole From To Interval (i) Au Ag Cu Pb Zn Mo
----------------------------------------------------------------------------
# (m) (m) (m) g/t g/t ppm ppm ppm ppm
----------------------------------------------------------------------------
RC-01 5.79 47.24 41.45 910 46
----------------------------------------------------------------------------
incl 5.79 28.96 23.17 1.34 1247
----------------------------------------------------------------------------
RC-02 4.57 6.10 1.53 0.144 1.40 1740 223
----------------------------------------------------------------------------
RC-03 No Significant Values
----------------------------------------------------------------------------
RC-04 0.00 50.29 50.29 639
----------------------------------------------------------------------------
incl 0.00 7.62 7.62 1.60
----------------------------------------------------------------------------
and 13.72 27.43 13.71 1.43
----------------------------------------------------------------------------
and 41.15 50.29 9.14 1.88
----------------------------------------------------------------------------
RC-05 0.00 50.29 50.29 1000
----------------------------------------------------------------------------
incl 3.05 4.57 1.52 4.30 848 3190
----------------------------------------------------------------------------
and 21.30 35.05 13.71 1327
----------------------------------------------------------------------------
incl 21.34 24.38 3.04 0.023 3.80
----------------------------------------------------------------------------
RC-06 No Significant Values
----------------------------------------------------------------------------
RC-07 2.13 50.29 48.16 338
----------------------------------------------------------------------------
incl 19.81 21.34 1.53 0.030
----------------------------------------------------------------------------
RC-08 3.05 13.72 10.67 1402
----------------------------------------------------------------------------
incl 12.19 13.72 1.53 0.60
----------------------------------------------------------------------------
RC-09 3.05 4.57 1.52 0.014 0.80
----------------------------------------------------------------------------
9.14 10.67 1.53 0.013 0.70
----------------------------------------------------------------------------
13.72 15.24 1.52 0.020 0.60
----------------------------------------------------------------------------
18.29 30.48 12.19 1.20
----------------------------------------------------------------------------
incl 22.86 28.46 6.70 1.84
----------------------------------------------------------------------------
and 22.86 24.38 1.52 0.030 2.20
----------------------------------------------------------------------------
38.10 39.62 1.52 0.020 1.70
----------------------------------------------------------------------------
RC-10 3.05 16.76 13.71 0.380 0.50 366
----------------------------------------------------------------------------
incl 3.05 4.57 1.52 2.740 1.20
----------------------------------------------------------------------------
RC-11 22.86 38.10 15.24 0.40 177 31
----------------------------------------------------------------------------
RC-12 3.05 12.19 9.14 311
----------------------------------------------------------------------------
RC-13 2.44 50.29 47.85 237
----------------------------------------------------------------------------
incl 2.44 10.67 8.23 552
----------------------------------------------------------------------------
RC-14 12.19 56.39 44.20 99 60
----------------------------------------------------------------------------
incl 21.34 22.86 1.52 127
----------------------------------------------------------------------------
and 32.00 33.53 1.53 153
----------------------------------------------------------------------------
and 38.10 39.62 1.52 225
----------------------------------------------------------------------------
and 51.82 54.86 3.00 131
----------------------------------------------------------------------------
RC-15 27.43 32.00 4.57 0.021 0.02 465
----------------------------------------------------------------------------
38.10 45.72 7.62 0.070 540
----------------------------------------------------------------------------
incl 41.15 42.67 1.52 0.087 3.00 1345
----------------------------------------------------------------------------
RC-16 10.67 45.72 35.05 0.014 342
----------------------------------------------------------------------------
incl 22.86 45.72 22.86 0.015 1.13 456
----------------------------------------------------------------------------
Table 2 Significant Prospecting Results
----------------------------------------------------------------------------
Sample_ID Au g/t Ag g/t Cu ppm Pb ppm Zn ppm Description
----------------------------------------------------------------------------
HGS-091a 7.74 29.3 8830 21 190 West Key: Vein1 - grab
----------------------------------------------------------------------------
HGS-091b 1.695 5.3 1375 15 272 West Key: Vein 1 - 60 cm chip
----------------------------------------------------------------------------
HGS-092 0.862 3.6 1490 14 287 West Key: Vein 1 - grab
----------------------------------------------------------------------------
HGS-091c 12.65 81.4 17850 31 377 West Key: Vein 2 - grab
----------------------------------------------------------------------------
HGS-093a 0.512 5.1 114 40 76 West Key: Vein 3 - grab
----------------------------------------------------------------------------
HGS-093b 0.184 0.7 29 11 86 West Key: Vein 3: 25 cm chip
----------------------------------------------------------------------------
less
than
HGS-094a 0.028 0.5 92 12 133 West Key: Vein 4 - grab
----------------------------------------------------------------------------
less
than
HGS-094b 0.005 0.5 31 16 195 West Key: Vein 4 - 25 cm chip
----------------------------------------------------------------------------
SG12-07 12.65 26.7 3260 22 199 West Key: grab of 15 cm vein
----------------------------------------------------------------------------
less
than East Fault: grab copper in
HGS-099 0.005 7.5 11550 3 13 volcanics
----------------------------------------------------------------------------
Table 3 Drill Hole Specifications
----------------------------------------------------------------------------
Hole_ID East North Elev Azim Dip EOH
----------------------------------------------------------------------------
RC12-01 376250 5884603 1378 90 -50 46.94
----------------------------------------------------------------------------
RC12-02 376242 5885096 1448 90 -50 65.53
----------------------------------------------------------------------------
RC12-03 374543 5883802 1421 90 -50 50.29
----------------------------------------------------------------------------
RC12-04 374549 5883747 1432 90 -50 50.29
----------------------------------------------------------------------------
RC12-05 374467 5883773 1442 90 -50 50.29
----------------------------------------------------------------------------
RC12-06 374428 5883779 1459 90 -50 50.29
----------------------------------------------------------------------------
RC12-07 374390 5883772 1478 90 -50 50.29
----------------------------------------------------------------------------
RC12-08 374042 5884022 1503 90 -50 50.29
----------------------------------------------------------------------------
RC12-09 374098 5884028 1521 90 -50 53.34
----------------------------------------------------------------------------
RC12-10 374137 5884021 1487 90 -50 51.82
----------------------------------------------------------------------------
RC12-11 374436 5884234 1488 90 -60 50.29
----------------------------------------------------------------------------
RC12-12 374492 5885349 1490 90 -50 50.29
----------------------------------------------------------------------------
RC12-13 374647 5885350 1487 90 -50 50.29
----------------------------------------------------------------------------
RC12-14 374605 5884173 1444 270 -50 56.39
----------------------------------------------------------------------------
RC12-15 375501 5883812 1370 270 -50 70.10
----------------------------------------------------------------------------
RC12-16 375689 5883797 1341 270 -50 70.10
----------------------------------------------------------------------------
Drill samples were analyzed by ALS Chemex Labs Ltd. an ISO 9001:2000 certified
laboratory. Troymet maintains a QAQC program whereby standard samples and blanks
are inserted into each batch of samples to ensure quality control.
Kieran Downes, P. Geo., a Qualified Person as defined by National Instrument
43-101, has reviewed and verified 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. In
particular, this press release contains forward-looking information in respect
of potential expenditures and a potential discovery on the McClarty Lake
project. All statements included herein, other than statements of historical
fact, are 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. 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, that the results it
has received and the interpretation thereof are reliable 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. A description of other
assumptions used to develop such forward-looking information and a description
of other 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Troymet Exploration Corp.
Anthony Zelen
Investor Relations
1-888-456-4952
anthony@senergyir.com
www.troymet.com
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