Troymet Reports Gravity Survey at Redhill
NANAIMO, British Columbia, July 07, 2017 (GLOBE NEWSWIRE) -- Troymet Exploration Corp. (TSXV:TYE) ("Troymet" or the Company”) reports the completion of a test gravity survey over the volcanogenic massive sulphide (“VMS”) mineralization in the Alpha prospect of the Redhill project in British Columbia (Figure 1 and Figure 2). Results will be reported once received and interpreted. The survey was designed to test the area where diamond drill hole RH16-04 intersected two zones of significant copper VMS mineralization (Upper and Lower zones), and where a borehole electromagnetic survey (“BHEM”) identified a significant off-hole response at 30 Hz with conductivities ranging from 100 – 200 Mhos, in hole RH06-25. The Upper zone lies at the base of Horizon 3. The Lower zone lies within Horizon 2.
Lower Zone
Figure 1 and Figure 2 show the limited extent of drilling in the Lower Zone mineralization. The geometry of the mineralization indicates the better mineralization lies below the levels drill tested to date. High-grade copper mineralization was intersected in the deepest holes. The strong off-hole response in RH06-25 indicates potential for significant mineralization in this area. As well, the mineralized zone has not been drill tested to the northwest or southeast. A transient EM conductor is associated with the mineralization.
Upper Zone
The Upper Zone copper mineralization lies near the lower boundary of Horizon 3 which is unexplored. The mineralization is open along strike and to depth and there are no nearby drill holes. The total downhole width of the mineralized zone is estimated to be in excess of 11.5 metres.
Beta Zone
The undrilled Beta VMS target lies west of Hwy 1 in a different geological setting to the Alpha VMS prospect (see Redhill Maps & Photos). As previously reported (News Release of October 25, 2016) Troymet has identified a new, large chargeability anomaly associated with the 40 mho Beta target which is located on a 550-metre long EM conductor. The Beta target Is located 200 metres south of borehole S83-4 (2.54% copper, 2.78% zinc, 77.0 g/t Ag, and 0.37 g/t Au over 7.75 metres).
Qualified Person
All technical data, as disclosed in this press release, has been verified by Kieran Downes, Ph.D., P.Geo., a Qualified Person as defined by National Instrument 43-101.
TROYMET EXPLORATION CORP.
Kieran Downes, Ph.D., P.Geo.
President, CEO & Director
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 news release contains 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 Redhill Project, including the possible exploration and development of the Redhill Project; the exploration potential and analogous deposit potential of the Redhill Project; future data analysis, sampling plans and exploration plans on the Redhill Project, including the potential resumption of exploration on identified targets including potential stripping, mapping, trenching and surveying; the timing for exploration and drilling on the Redhill Project; exploration targets and the potential of such exploration targets; and the ability and the timeframe within which the Redhill Project can be advanced. 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 Troymet; Troymet’s current and initial understanding and analysis of the Redhill Project; the ability of Troymet to discover viable exploration targets and the results of exploration on the Redhill Project; the cost of exploration, including sampling and drilling, on the Redhill 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 Redhill 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.
For further information, contact:
Investor Relations
Tel: 250-729-0453
Email: info@troymet.com
Website: www.troymet.com