August 7, 2008
7, 2008 - Troymet Exploration Corp. (TSXV:TYE) (“Troymet” or the
“Company”) is pleased to announce the commencement of diamond drilling
on its 100% owned Golden Eagle project in northwest British Columbia.
The planned 2,500-metre program will focus on the Tannis and LQ
The diamond drilling program will initially target the Tannis zone,
where drilling in 2005-2006 intersected high-grade gold-silver
mineralization in a pyrite and arsenopyrite-bearing quartz vein system
in rhyolitic intrusive (Reference: Sept. 24, 2007 news release).
Individual quartz veins have been traced in excess of 300 metres. The
mineralized veins also intrude the Boundary Range Metamorphic Suite that
flanks the intrusive to the east, and reconnaissance soil geochemical
sampling suggests the mineralized veins continue into or beneath
Jurassic volcanics/sediments that flank the intrusive to the west.
The mineralization at Tannis reflects an epithermal-style mineralizing
environment, and this type of setting has the potential to host
Table 1. Tannis Zone - 2005-2006 Drill Results
* Widths represent down hole core lengths. True widths cannot be reliably estimated at this time.
Where exposed, the LQ prospect is a minimum 1.0-metre wide pyrite and
arsenopyrite-bearing quartz vein in Stuhini Group Volcanics. Limited
sampling in 2004 returned 1.76 g/t and 4.72 g/t gold in a grab and float
sample respectively (Reference: Sedar filing Oct. 11, 2007). There is
no historical record of the LQ prospect ever being drill tested.
The current program also includes detailed and reconnaissance
prospecting over the property’s 25-km long extent, with particular focus
on a number of airborne magnetic and EM anomalies identified in 2005
that have yet to be investigated.
The 8,178-hectare Golden Eagle project is located within the Tintina
Gold Belt in northwestern British Columbia. The Company controls a 100%
interest in the property through a mix of 100% owned claims and optioned
claims. The property has the potential to host several deposit types,
including high-grade gold-silver vein-hosted deposits, bulk tonnage
copper/gold porphyries with associated skarn deposits and volcanogenic
massive sulphide (VMS) deposits. Eleven separate mineralized zones have
been identified to date over the property’s 25-km long extent.
The Company has engaged Equity Exploration Consultants Ltd of Vancouver
BC to conduct the 2008 exploration program and the drilling contract was
awarded to Apex Diamond Drilling Ltd. of Smithers BC. All core samples
will be sent to ALS Chemex laboratory in Vancouver BC and assay results
will be released once received and compiled.
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:
Troymet Exploration Corp.
Tel: 1-888-456-4952 or firstname.lastname@example.org
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release. This press release may contain
“forward-looking information” within the meaning of applicable Canadian
securities legislation. All statements, other than statements of
historical fact, included herein may be forward-looking information.
Generally, forward-looking information may be identified by the use of
forward-looking terminology such as “plans”, “expects” or “does not
expect”, “proposed”, “is expected”, “budgets”, “scheduled”, “estimates”,
“forecasts”, “intends”, “anticipates” or “does not anticipate”, or
“believes”, or variations of such words and phrases, or by the use of
words or phrases which state that certain actions, events or results
may, could, would, or might occur or be achieved. 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, 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. Although the Company has attempted to identify
important factors that could cause actual results to differ materially
from those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on
forward-looking information. The Company does not undertake to update
any forward-looking information, except in accordance with applicable
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