October 20, 2014
October 20, 2014 - Troymet Exploration Corp. (TSXV:TYE) (“Troymet” or
the “Company”) reports the results of a reconnaissance prospecting
program conducted on the southern extension of the Skarn zone, on the
Company’s 100% owned Golden Eagle project in northern British Columbia.
Prospecting has identified elevated to anomalous gold, silver, arsenic,
bismuth, copper, mercury, antimony and tellurium values within an area
of approximately 1,300 m x 900 m along the Paddy Fault system (map links
provided below). The fault system, which controls the Skarn zone
mineralization, is a major structural feature up to 500 m wide that has
been traced for over 17 km.
The highest gold, bismuth and tellurium values are located in the head
waters of creeks with anomalous gold-in-silts that drain eastwards.
Elevated to anomalous silver, antimony and mercury values are also
present. The geology comprises felsic intrusive (Cretaceous?) and Upper
Triassic (Stuhini Group) mafic to intermediate volcanics. Mineralized
samples exhibit bleaching, actinolite alteration, sulphidation, quartz
and ankerite veining similar to the Skarn zone.
Copper, mercury (and silver) values are elevated to anomalous along the
ridge that tracks the Paddy Fault south of the Skarn zone. Mineralized
samples comprise quartz veins, quartz-ankerite veins, quartz-carbonate
alteration, bleaching, actinolite alteration and sulphidization. The
Paddy Fault marks the contact between mafic-intermediate-felsic
volcanics (Stuhini Group) and sediments (Boundary Range Metamorphics).
Copper, arsenic, and mercury values are elevated to anomalous to the
west, along with bismuth, antimony, silver and gold. Mineralized samples
comprise quartz veins, quartz-ankerite veins, quart-carbonate
alteration, bleaching and sulphidization.
Historic drilling in 1990 and 1997 was limited to an area 265 m long and
intersections ranged from 2.12 g/t Au over 9.9 m to 7.64 g/t Au over
3.5m (further details are provided in a technical report available
. Only visually obvious
mineralization was assayed and no drill core exists today from this
drilling. In 2011, Troymet drilled one hole (N11-06) to test the
northern limit of the area of historic drilling. The hole collared in
mineralization and intersected 36.45 m grading 1.27 g/t gold
(mineralization open; see cross-section link below). The upper portion
of the gold intersection is also anomalous in silver, grading 4.05 g/t
silver over 15.45 m. This intersection demonstrated the potential for
high-grade, sub-cropping, bulk tonnage gold mineralization that was not
recognized in the past.
The current prospecting results confirm the Skarn zone mineralization
extends a significant distance to the south towards the Catfish zone,
where gold-silver bearing veins occur in the head waters of creeks
carrying anomalous gold-in-silt values. The Catfish zone is ~2.5 km
south of the Skarn zone. This is a highly prospective area with a high
Gold results in rock & silt samples
Silver results in rock & silt samples
Arsenic results in rock & silt samples
Bismith results in rock & silt samples
Copper results in rock & silt samples
Mercury results in rock & silt samples
Antimony results in rock & silt samples
Tellurium results in rock & silt samples
Drill hole N11-06 cross-section
Casselman Geological Services Ltd. provided technical management of the
field program for the Company. Rock samples were analyzed at ALS Chemex
Labs Ltd. in Vancouver, BC, an ISO 9001:2000 accredited laboratory.
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:
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 news release may contain certain forward-looking information. All
statements included herein, other than statements of historical fact,
are forward-looking information and such information involves various
risks and uncertainties. In particular, this press release contains
forward-looking information in respect of the shareholder approval of
the Advance Notice By-law. 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 Troymet’s
current beliefs and is based on information currently available to
Troymet and on assumptions Troymet believes are reasonable. These
assumptions include, but are not limited to, the continued market
acceptance of advance notice by-laws. 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 Troymet 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 Troymet and its projects; general business, economic, competitive,
political and social uncertainties; capital market conditions and market
prices for securities, junior market securities and mining exploration
company securities; 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 Troymet;
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 Troymet’s disclosure
documents on the SEDAR website at
. Troymet does not
undertake to update any forward-looking information except in accordance
with applicable securities laws.
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