September 26, 2007
September 26, 2007 - Troymet Exploration Corp. (TSXV:TYE) is pleased to announce the discovery of significant base metal mineralization from the 2007 diamond drilling program on the McClarty Lake property. Located 47 kilometres southwest of Snow Lake, Manitoba, the property comprises five contiguous mineral claims totalling 596 hectares. Troymet owns 100% of three of the claims staked in 2000 and holds an option to obtain a 60% interest in two claims (252 hectares) from Hudson Bay Exploration and Development (HBED).
The 2007 drilling program consisted of 5 holes totalling 1,444 metres. Four of the five holes intersected a semi-massive to massive sulphide horizon with significant zinc (+/- copper) mineralization in two holes (Table 1). The best results were obtained from SIG-02-07 which returned 2.94% zinc and 0.17% copper over 7.45 metres; including 4.78% zinc over 2.71 metres. Troymet plans a substantial follow-up program and will resume drilling after freeze-up.Table 1. 2007 Diamond Drilling Highlights
* All holes were drilled at 291º azimuth and -55º dip. Widths represent down hole core length; true width is estimated to be approximately 70% of core length.
|UTM E||UTM N|| |
| || || ||Incl.||115.23||117.94||2.71||-||6.86||0.10||4.78|
| || || || ||189.16||194.23||5.07||-||9.17||0.12||2.26|
| || || ||Incl.||190.66||194.23||3.57||-||3.12||0.07||3.00|
The property is favourably situated within the Flin Flon - Snow Lake greenstone belt, one of the largest Proterozoic volcanic-hosted massive sulphide (VMS) districts in the world. Twenty-seven copper-zinc-(gold) deposits within the belt have produced more than 183 million tonnes of sulphide ore.
Previous exploration on the property was hampered by lack of outcrop exposure. An electromagnetic (EM) conductor detected in 1996 was tested by two diamond drill holes in 1997 by HBED and two holes in 2000 (MC01 and MC02) by Troymet’s predecessor company. All four holes intersected a gold and silver bearing semi-massive pyrite horizon in altered felsic volcanics, tracing the horizon over a 50-metre strike length and to 50 metres depth. The best intersection reported was 4.17 g/t gold and 8.48 g/t silver over 4.0 metres. A deep penetrating Time Domain EM (TEM) survey undertaken in 2002 subsequently defined a potential massive sulphide horizon(s) over a strike length of approximately 600 metres. Plans to test the conductor were shelved in 2004 and 2005 because of the lack of drill availability, and in 2006 by poor ice conditions.
Winter conditions in 2007 allowed for the drilling of 5 holes totalling 1,444 metres. The program successfully extended the known strike and dip extension of the sulphide horizon to over 425 metres (open) and to a vertical depth of 250 metres (open). Significant zinc sulphide (sphalerite) mineralization was discovered in two holes collared 225 metres south of the 1997/2000 drilling. Up to 20% sphalerite within the semi- to massive pyrite horizon was intersected at 75-metre and 150-metre vertical depths. Along with the presence of copper sulphide (chalcopyrite), this marks the first discovery of significant base metal mineralization on the property.
Drill hole SIG-01-07 was drilled as a 50-metre undercut to MC01 and, intersected a 0.74-metre wide semi-massive (up to 85%) pyrite horizon at a vertical depth of 250 metres. The immediate hangingwall and footwall hosts 2-20% pyrite, which including the pyrite horizon, returned 1.76 g/t gold and 8.8 g/t silver over 2.24 m.
A two-hole fence (SIG-02-07 and SIG-04-07) targeted the TEM conductor 225 m south of SIG-01-07. Both holes intersected a semi- to massive sulphide horizon containing up to 85% pyrite and locally up to 20% sphalerite and minor chalcopyrite. SIG-02-07 returned 2.94% zinc and 0.17% copper over 7.45 metres; including 4.78% zinc over 2.71 metres at a vertical depth of 100 metres. SIG-04-07 was drilled as a 65 metre undercut to SIG-02-07 and intersected 2.26% zinc and 0.12% copper over 5.07 metres; including 3.00% zinc over 3.57 metres. Anomalous silver, copper, zinc, arsenic and cadmium values, typical of a feeder or stringer zone, extend up hole of the sulphide horizons in both holes, suggesting that the stratigraphy is overturned. Within this stringer horizon, SIG-04-07 returned 2.85 g/t gold and anomalous copper and zinc over 1.0 metre.
Hole SIG-03-07, a 50-metre step to the south of SIG-02-07, did not intersect the massive sulphide horizon. Based on notable differences in geochemistry and host rock alteration, and geophysical data that suggest the massive sulphide horizon may be folded or faulted south of SIG-02-07, this hole is interpreted to have overshot the horizon.
The northernmost hole, SIG-05-07, targeted the TEM conductor approximately 200 metres north of SIG-01-07. It intersected a 0.86-metre zone of 25% coarse pyrite and stringer pyrrhotite that returned anomalous silver, copper and cobalt values. Approximately 100 metres higher up in the hole, a narrow band of 15% chalcopyrite and 5% pyrite returned 2.43 % copper over 0.21 metres.
The massive sulphide horizon(s) is hosted by a sequence of variably silicified, sericititized and chloritized felsic volcanics and volcaniclastics. The volcanic sequence exhibits a distinctive coarse-grained (porphyroblastic) metamorphic mineral assemblage that is recognized in all of the VMS deposits in the Snow Lake area, and reflects an earlier hydrothermal event that has been overprinted by amphibolite-grade regional metamorphism. The alteration assemblage is considered a highly important exploration vector to massive sulphide mineralization.
The discovery of zinc-rich sulphide mineralization within the massive pyrite horizon marks great success for the 2007 program. The property is considered highly prospective for delineating an economically attractive base +/- precious metal rich VMS deposit.
Results from the 2007 program are presented in a NI 43-101 technical report entitled “Report on the 2007 Diamond Drilling Program, McClarty Lake Project, Manitoba”, dated September 24, 2007 by Jessica Norris, BSc (Aurora Geosciences Ltd.) and qualified person, Tracy Hurley, PGeo (Troymet Exploration Corp.) and filed on Sedar concurrently with this news release. This report contains the following recommendations: The upcoming exploration program is scheduled to include an airborne time-domain EM (VTEM) survey, noted for its deep penetration, high spatial resolution and better detection of weaker anomalies. A minimum 3000-metre diamond drilling program is proposed to follow up on the 2007 drill results and test any additional targets presented by the airborne survey. There is currently no drill testing along the 200-metre strike length of the known conductor(s) between the historic and 2007 drilling. Good potential exists for extending the base metal mineralization along strike and to depth.
Tracy Hurley, PGeo, Vice President, Exploration and qualified person as defined by National Instrument 43-101 is responsible for the technical information provided in this release. All samples were sent to TSL Analytical Laboratories in Saskatoon, SK, an ISO/IEC 17025 accredited facility, for sample preparation and Au-Ag-Zn-Cu analyses. Check assays were conducted by Saskatchewan Research Council (SRC) GeoAnalytical Laboratories in Saskatoon, SK, an ISO/IEC 17025:2005 accredited facility. ICP analysis was conducted by ACME Analytical Laboratories Ltd. in Vancouver, BC, an ISO 9001:2000 accredited facility. All technical information for the Company’s McClarty Lake 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-McC.pdf.
For further information, contact:
Tracy Hurley firstname.lastname@example.org
Kieran Downes (250) 729-0453; email@example.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release may contain forward-looking statements. Except for statements of historical fact, all statements in this press release - including, without limitation, statements regarding future plans and objectives of the Company — are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
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