=======================================================================
Re: News Releases - Tuesday, June 16, 2009
Troymet Targets Bulk-Tonnage Gold at Golden Eagle
=======================================================================
June 16, 2009 - Troymet Exploration Corp. (TSXV:TYE) ("Troymet" or the
"Company") is pleased to announce that planning is underway for a
summer field program on the Company's 100% owned Golden Eagle project
located in northern British Columbia. The project covers an area of
approximately 8,178 hectares over 25 kilometres north to south, and
includes numerous gold zones and base metal targets. The project lies
within a geochemical province shown by the British Columbia Geological
Survey's (BCGS) stream sediment sampling programs to contain
exceptionally anomalous values in gold (to 1080 ppb), gold indicator
metals (arsenic, antimony and mercury) and base metals (BCGS Bulletin
105). Further, the BCGS noted, in file GF2003-9, that the
volcano-sedimentary setting is analogous to that at Eskay Creek.
The style and areal extent of mineralization at Golden Eagle strongly
suggest a reduced intrusion-related gold system (RIRGS). RIRGS are
characterized by widespread arrays of sheeted auriferous quartz veins,
forming bulk-tonnage, low-grade gold deposits at the top of small
plutons. Well known examples include the Fort Knox (Alaska) and Dublin
Gulch (Yukon) deposits of the Tintina Gold Belt. RIRGS also include a
wide range of intrusion-related mineral deposit styles including
skarns, replacements and distal veins that form within the region of
hydrothermal influence surrounding the causative pluton. All of these
characteristics are well represented over the 25-kilometre span of the
Golden Eagle property.
The 2008 exploration program indicated the presence of a large
intrusion-related gold system (exposed at the Tannis zone) spanning the
~12-kilometre strike length of the northern half of the Golden Eagle
property. In the Tannis zone the gold mineralization is hosted in
rhyolitic intrusive, in granitic intrusive at depth beneath the
rhyolite, and to a lesser extent in the flanking mafic volcanics. The
intrusives are considered to be of Late Cretaceous age. To the north,
the rhyolitic and granitic intrusives are capped by sediments and mafic
volcanics of variable thickness that host multiple zones of
gold-silver-arsenic-antimony mineralization (e.g. Plateau, Skarn, West
Gully, Cowboy, and West Draw zones) in an ~5 x 5 kilometre area. This
part of the property contains anomalous multi-element stream
geochemistry and notable gold intersections from trenches and drill
core. The various gold zones in this area were previously investigated
in isolation but are now considered as underlying vectors toward a
related bulk-tonnage gold deposit(s).
The 2009 program will focus on the identification of high impact
intrusive-related gold drill targets in the north half of the project.
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.
TROYMET EXPLORATION CORP.
Kieran Downes, Ph.D., P.Geo.
President, CEO & Director
For further information, contact:
Shiro Rae
Investor Relations
Troymet Exploration Corp.
Tel: 1-888-456-4952 or srae@troymet.com
Website: www.troymet.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.
=======================================================================
Copyright (c) 2009 TROYMET EXPLORATION CORP. (TYE) All rights
reserved. For more information visit our website at
http://www.troymet.com/ or send mailto:info@troymet.com
Message sent on Mon Jun 15, 2009 at 6:32:25 PM Pacific Time
=======================================================================
.
<
|
Troymet Exploration Corp.
|
|
EXPLORATION STAGE |
CODE : TYE.V |
ISIN : CA8977731071 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Troymet is a silver and gold exploration company based in Canada. Its main exploration properties are MCCLARTY LAKE, KEY, WHEATCROFT and GOLDEN EAGLE in Canada. Troymet is listed in Canada. Its market capitalisation is CA$ 609 281 as of today (US$ 452 325, € 404 152). Its stock quote reached its highest recent level on November 26, 2010 at CA$ 0.41, and its lowest recent point on June 28, 2019 at CA$ 0.01. Troymet has 121 856 225 shares outstanding. |