April 12, 2013
April 12, 2013 - Troymet Exploration Corp. (TSXV:TYE) (“Troymet” or the
“Company”) reports preliminary results of the 2013 drill program on the
McClarty Lake joint venture property, as provided by project operator,
Hudbay Minerals Inc. (“Hudbay”).
Hudbay drilled a single hole to test for the down dip and southward
strike continuation of the Discovery Zone volcanic massive sulphide
(VMS) mineralization discovered by Troymet in 2007. Drilling commenced
on February 27, 2013 and was shut down on March 7, 2013 at 437 metres
depth due to concerns of unsafe ice conditions. A borehole
electromagnetic (EM) survey was completed upon shutdown.
biotite-quartz-garnet-amphibole-kyanite-cordierite-sericite gneisses and
schists were intersected from 280 to 437 metres down hole. The main
sulphide mineralization, consisting of predominantly pyrite (5-25%) and
minor pyrrhotite, was intersected over a 52 metre interval from 346 to
398 metres down hole. A second 5 metre interval with 3-5% pyrite and
minor pyrrhotite was intersected from 423 to 428 metres down hole. No
significant occurrences of sphalerite (zinc sulphide) and chalcopyrite
(copper sulphide) were reported by HudBay.
Interpretation and modelling of the borehole EM data revealed two off
hole responses, one of which is interpreted to represent the zinc and
copper bearing (Discovery Zone) mineralization intersected in Troymet’s
2007-2008 drilling, the other anomaly to represent the pyrite-pyrrhotite
mineralization intersected in 2011 Hudbay holes, MCC001/MCC002/MCC003.
Assay results are pending and will be released once received from Hudbay.
The McClarty Lake project is located ~45 kilometres south of Hudbay
Chisel North and Lalor VMS deposits. The project comprises two claims
(DYC3606 & DOL78; 252 hectares) held in a Joint Venture between
Hudbay (60%) and Troymet (40%), and three claims (MAC-1, MAC-2 &
MAC-3; 344 hectares) owned 100% by Troymet. Under the terms of the Joint
Venture Agreement, Hudbay must fund $1,076,051 in exploration costs
before Troymet is required to fund its participating interest.
Thereafter, Hudbay and Troymet will share all future exploration and
development expenditures pro-rata based on their participating
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
For further information, contact:
Tel: 1-888-456-4952 or email@example.com
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
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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