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Re: News Releases - Monday, August 10, 2009
Troymet Updates Activities
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August 10, 2009 - Troymet Exploration Corp. (TSXV:TYE) ("Troymet" or
the "Company"), at the request of Investment Industry Regulatory
Organization of Canada (IIROC), reports that it is unaware of any
material changes that would cause the current level of trading activity
in the Company's stock.
The Company is continuing its reinterpretation of the geological,
geochemical and geophysical data for the north block of its Golden
Eagle project located in northern British Columbia. The Company
believes a significant gold target is present in this area and plans a
field program later in the year. The style and areal extent of
mineralization at Golden Eagle strongly suggest an intrusion-related
gold system similar to the Pogo (Alaska), Fort Knox (Alaska) and Dublin
Gulch (Yukon) deposits of the Tintina Gold Belt. 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 north block
the intrusive system is 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) over a ~5 x 5 kilometre area. 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). A series of compilation and
interpretative maps have recently been uploaded to the Company's
website (www.troymet.com/s/GoldenEagle.asp).
The Company anticipates that Hudson Bay Exploration and Development
Company Limited ("HBED") will conduct a diamond drilling program on the
McClarty Lake project, Manitoba, after freeze-up. HBED is earning back
a 20% interest in the project from Troymet. After completion of the
earn-in by HBED the project will be held in a joint venture between
HBED (60%) and Troymet (40%). HBED's decision to earn back in to the
property lends strong support to management's belief that McClarty Lake
is a property of substantial merit with excellent potential to host a
precious metal rich VMS deposit(s). The sulphide mineralization and
associated alteration system at McClarty Lake is very similar to that
associated with the Chisel Lake and the newly discovered Lalor Lake
volcanogenic massive sulphide deposits of the Snow Lake area.
The Company plans a limited field program on its 100% owned Key project
in north-central British Columbia, where a VTEM survey flown in 2008
identified a number of conductors. This is a greenfield project with
little history of exploration. Given the location of the project and
the newly identified VMS targets, the Company is very optimistic for
its discovery potential.
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.
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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 Aug 10, 2009 at 3:12:25 PM Pacific Time
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Troymet Exploration Corp.
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EXPLORATEUR |
CODE : TYE.V |
ISIN : CA8977731071 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Troymet est une société d’exploration minière d'argent et d'or basée au Canada. Ses principaux projets en exploration sont MCCLARTY LAKE, KEY, WHEATCROFT et GOLDEN EAGLE au Canada. Troymet est cotée au Canada. Sa capitalisation boursière aujourd'hui est 609 281 CA$ (452 325 US$, 397 720 €). La valeur de son action a atteint son plus haut niveau récent le 26 novembre 2010 à 0,41 CA$, et son plus bas niveau récent le 28 juin 2019 à 0,01 CA$. Troymet possède 121 856 225 actions en circulation. |