June 25, 2009
June 25, 2009 - Troymet Exploration Corp. (TSXV:TYE) (“Troymet” or the
“Company”) is pleased to provide additional information on the Skarn
zone, one of several gold prospects located in the north block of the
Golden Eagle project in northern British Columbia. The Golden Eagle
project lies at the southern end of the Tintina Gold Belt, which
contains many intrusion-related gold deposits such as Pogo (Alaska),
Fort Knox (Alaska) and Dublin Gulch (Yukon). The data base for the Skarn
zone is being updated and re-compiled in preparation for the upcoming
summer field program.
The 2008 exploration program indicated the presence of a large
intrusion-related gold system spanning the ~12-kilometre strike length
of the northern half of the Golden Eagle property. This gold system is
exposed in the granite/rhyolite of the Tannis zone but capped by
sediments and mafic volcanics of variable thickness to the north, where
multiple zones of gold-silver-arsenic-antimony mineralization occur in
the Plateau, Skarn, West Gully, Cowboy, and West Draw zones. These zones
are developed in the roof of the intrusion over an area of
approximately 5 x 5 kilometres. The Company believes that these zones
may represent leakage mineralization of a potentially larger mineralized
system below and directly related to the underlying intrusive.
The Skarn zone is a high, NW-trending ridge approximately 700 metres
long and 200 metres wide. The zone is a structurally-controlled,
gold-bearing, amphibole-sulphide skarn located along the Paddy Fault
that tracks the west contact of the Stuhini Group with the Boundary
Ranges Metamorphic Suite. This fault is a western splay off the
terrane-bounding Llewellyn Fault situated approximately 2 kilometres to
the east. The amphibole-sulphide skarn and iron gossans are best
developed in an area of abundant felsic dykes, which are probably
related to the upper parts of a much larger underlying granitic pluton.
The Skarn zones is overlain by a moderate to strong gold-in-soil anomaly
(5 to 1800 ppb), approximately 500 metres long and 120 metres wide.
Chip and channel samples collected from trenches by Lodestar Exploration
in 1990 returned 6.4 to 44.7 g/t over widths of 2.0 to 2.4 metres.
Prospecting (grab) samples collected by Noranda in 1993-94 and Westmin
Resources in 1996 returned gold values ranging from 5 to 3350 ppb gold
with four samples assaying 411, 134, 105, 36.7 g/t gold. Silver (0.2 to
240 ppm), antimony (2 to 4440 ppm) and copper (0.9 to 16,500 ppm) are
also anomalous over the zone.
Gold mineralization in the Skarn zone occurs as visible gold and
associated with pyrite in narrow (5- 25 mm) quartz-calcite stringer
veins. Visible gold also occurs with quartz-carbonate-sulphide veinlets
(1-10 mm) in host rocks near a feldspar-amphibole porphyry dyke at the
north end of the Skarn zone. Five grab samples reported by Lodestar from
a trench in this area range from 8.9 to 200.5 g/t gold. The trench lies
approximately 90 metres east of the Paddy Fault.
Historically, there has been very limited diamond drilling on the Skarn
zone. The drilling has been shallow and significant areas of the zone
remain untested. Drilling in the area of the trench which returned 200.5
g/t gold in a grab sample returned intercepts ranging from 1.28 g/t
gold over 6.0 metres to 14.6 g/t gold over 1.0 metre. Four holes drilled
on the Paddy Fault (approximately 90 metres to the west) over a 265
metre strike length returned intercepts ranging from 1.32 g/t gold over
3.2 metres to 7.64 g/t gold over 3.45 metres.
The Skarn zone is believed to be developed in the cap rocks of a buried
felsic intrusive, with the gold mineralization derived directly from the
intrusive as at the Tannis zone. Skarn-type alteration is noted around
the granite contact at Tannis and in other zones, giving credence to
this model. The Company believes the Skarn zone is open to the north and
south along the Paddy Fault, and westward toward the Cowboy zone. The
drilling to date has not tested the system at depth. The 2009 program
will, in part, focus on the identification of high impact
intrusive-related gold drill targets in the Skarn zone and its
Troymet is a junior exploration company with precious and base metal
projects located in British Columbia and Manitoba, Canada. The Company
is actively seeking partners to advance its highly prospective
properties and continues to seek new projects with high-value and
large-tonnage potential to add to its portfolio.
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. An overview of previous
work conducted on the Skarn and other zones is presented in a technical
report entitled “Report on the 2006 Mineral Exploration Program on the
Golden Eagle Property, Atlin Area, Northwestern British Columbia” dated
October 2, 2007 by independent qualified person, Scott Casselman, P.
Geo. (Reference Troymet Exploration SEDAR filing October 11, 2007). A
location map of the various mineralized zones at Golden Eagle is
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 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
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 securities laws.
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