June 23, 2015
June 23, 2015 - Troymet Exploration Corp. (TSXV:TYE) (“Troymet” or
Company”), is pleased to update exploration progress on its Wildcat
gold-silver project located in the Detroit Mining District, an historic
gold producing region in the northern Drum Mountains of central Utah.
The ongoing field program comprises mapping, prospecting, soil sampling,
BLEG sampling, biogeochemical sampling and claim staking, as well as
ground truthing of structures and targets identified by geophysics.
Currently, nine significant structures, previously unrecognized and with
displacements of up to 300 metres, have been mapped. This has led to
an important structural reinterpretation of the main target areas.
Jasperoids and/or pebble dikes are associated with several structures
which indicate these have the potential to host structurally controlled
gold-silver mineralization. As well, displacements along the structures
has brought prospective stratigraphy closer to surface and, therefore,
more easily explored.
Three principal target areas along the Joy Fault are recognized based on
the presence of, gold +/- trace element geochemical anomalies,
geological structures and geophysical anomalies (magnetics and/or
- Core area - approximately 1,200 metres long
- SE area - approximately 1,000 metres long
- N area - approximately 300 metres long
The primary exploration focus is structural feeders and breccias along
the Joy Fault and structural/stratigraphic targets in Cambrian carbonate
rocks. These targets have the potential to host large, high-grade gold
and silver mineralization in veins, stockworks, breccias and
New claims have been staked to protect new discoveries and prospective structures.
Assays are pending for rock, soil, BLEG and biogeochemical samples.
Troymet plans a trenching program once the field work is complete and
compiled, and specific targets are selected, prior to drilling. It is
anticipated that permitting of trenches, drill roads and drill pads will
begin in July.
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.
About Troymet Exploration Corp.
Troymet Exploration Corp. is a junior exploration company with a solid
treasury and with projects in British Columbia (Golden Eagle), Manitoba
(McClarty Lake) and Utah (Wildcat). Troymet operates the Wildcat and
Golden Eagle projects. Hudbay Minerals Inc. is the operator of the
McClarty Lake joint venture and must contribute $1,151,052 in joint
venture expenditures before Troymet is required to fund its
participating interest. Troymet retains a 2% net smelter returns royalty
(“NSR”) on the Key property, British Columbia, which was sold to New
Gold Inc. in 2013. Troymet is continuing to evaluate mineral properties
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 news release contains
forward-looking information in respect of: the Wildcat Project,
including future exploration, sampling plans, pending assays and field
programs; the timing for future exploration; the timing of work required
to prepare the Wildcat project for future exploration; and the
potential of future exploration and exploration targets. 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
current share price of Troymet’s common shares and the ability to raise
future equity financing, if needed, at prices acceptable to
Troymet͖ Troymet’s current and initial understanding and
analysis of the Wildcat Project; the ability of Troymet to discover
viable exploration targets and the results of exploration on the Wildcat
Project; Troymet’s general and administrative costs remaining constant;
and the market acceptance of Troymet’s business strategy.
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors which 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, and in particular, the Wildcat Project; 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
www.sedar.com. Troymet does not undertake to update any forward-looking
information except in accordance with applicable securities laws.
You can view the Next News item:July 9th, 2015, Troymet Options Redhill Project from Homegold
You can view the Previous News item:May 19th, 2015, Troymet Commences Field Program at Wildcat
Back to the main News page, or press the Back button on your browser.