Troymet Reports Gravity Survey at Redhill
July 07 2017 - 8:00AM
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 ZoneFigure 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 ZoneThe 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 ZoneThe 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
Troymet Exploration Corp. (TSXV:TYE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Troymet Exploration Corp. (TSXV:TYE)
Historical Stock Chart
From Jul 2023 to Jul 2024