January 14, 2010
January 14, 2010 - Troymet Exploration Corp. (TSXV:TYE) (“Troymet” or
the “Company”) is pleased to update progress on its McClarty Lake
project in Manitoba. The project is located near Snow Lake, Manitoba and
approximately 45 km south of the Chisel Lake and Lalor Lake volcanic
massive sulphide (VMS) deposits at Snow Lake (HudBay Minerals Inc.).
The McClarty Lake property comprises three claims owned 100% by Troymet
and two claims owned 60% by Troymet and 40% by Hudson Bay Exploration
and Development (HudBay) (“option claims”). HudBay is currently earning
an additional 20% interest in the option claims where Troymet identified
a gold-bearing VMS system, the Discovery zone, in 2007. The zone is
sub-vertical and extends to near surface, starting at the base of the
Palaeozoic cover rock at a depth of approximately 50 metres. The
sulphide mineralization and associated alteration system at the
Discovery zone is very similar to that associated with the Chisel Lake
and Lalor VMS deposits and a number of mineral lenses have been
identified. The Company anticipates that HudBay will conduct a 2010
winter diamond drilling program on the zone.
Troymet plans a 2010 winter diamond drilling program (~1,500 metres) on
its 100% owned properties. A ground PEM geophysical survey is scheduled
for late January and diamond drilling is planned for February-March. The
drill program will test the Mac EM conductor, which is on trend with
the Discovery zone. The Mac conductor was identified by the Company’s
2008 deep penetrating VTEM helicopter-borne survey and is a high
priority target with the potential to host significant VMS
Troymet’s 100% owned claims are strategically placed and the Company
believes this green field area has the potential to deliver additional
VMS discoveries. The Mac conductor offers the potential for immediate
and significant new discoveries on 100% owned Troymet ground.
HudBay continues to drill on the multi-lens Lalor deposit, which lies at
a depth of ~750 metres and dips north for over 500 metres, and has
started development of an $85 million production ramp from its Chisel
North mine to the Lalor deposit (HudBay website PowerPoint). The Lalor
deposit contains significant zinc resources and HudBay estimates the
deposit could contain 3 million ounces of gold (HudBay news release -
October 8, 2009).
Elsewhere, VMS Ventures Inc. continues to make discoveries on its Reed
Lake and Tower zones which lie ~25 km northwest of McClarty Lake (VMS
news release - January 13, 2010).
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.
TROYMET EXPLORATION CORP.
Kieran Downes, Ph.D., P.Geo.
President, CEO & Director
For further information, contact:
Tel: 1-888-456-4952 or firstname.lastname@example.org
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this news
release. 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
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