Troymet Reports Positive Gravity Anomalies at Redhill
August 17 2017 - 8:00AM
Troymet Exploration Corp. (TSXV:TYE) ("
Troymet" or
the
Company”) is pleased to report positive
results from a recently completed 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). Gravity anomalies respond to the depth and geometry of a
mineralized body, as well as the total mineralized mass. The
gravity survey identified strong anomalies associated with the
Upper and Lower VMS Zones, and, unexpectedly, with Horizon 1. The
results support Troymet’s belief that significant VMS
mineralization likely occurs at depth in the Upper and Lower VMS
zones. The unexpectedly strong anomaly associated with Horizon 1
suggests an untested mineralized mass at depth.
The single test line was orientated orthogonal
the Upper Zone and Lower zone VMS mineralization, and to the three
stacked horizons hosting VMS mineralization. Several gravity highs
can be identified on the overall Bouguer Gravity profile (Figure
2). One high is associated with the Upper Zone mineralization (~300
metres). The Lower Zone mineralization may be related to the broad,
lower amplitude gravity high from ~340 to 500 metres. However, the
Lower Zone dips at ~65° under the upper Zone (Figure 3) with the
result that the strong anomaly at ~300 metres is thought to be the
result of the superimposition of the two zones. Alternatively, the
gravity is indicating a significant sulphide mass associated with
the Upper Zone. The best massive sulphide mineralization was
intersected in holes RH16-04 and RH06-25 (Figure 4).
Mineralization between these two strong intersections and surface
is typically thin and stringer-like as might be expected peripheral
to a well-developed VMS deposit. A borehole EM survey (BHEM) of
RH06-25 identified an off-hole response at 30 Hertz, with
conductivities in the range of 100 to 300 Mhos indicating a
potentially large body of mineralization under holes RH16-04 and
RH06-25. This is the primary drill target in this area.
A second significant high is associated with
Horizon 1 and its associated Fixed Loop Transient EM (FLTEM)
conductor. The strong gravity anomaly indicates potential at
depth. Horizon 1 has not been drill tested at depth and the
FLTEM conductor has not been drill tested along strike. The
distribution of sulphides in Horizon 1 may mimic the Lower Zone
with the better VMS mineralization occurring at depth. This is an
important drill target.
A broad, lower amplitude gravity high occurs
within Horizon 3. Gravity anomalies also occur at the start (0
metres) and finish (700 metres) of the survey line. These anomalies
have not been delineated. The anomaly at 700 metre occurs with a
FLTEM conductor which is likely mapping a potentially mineralized
horizon. This has not been drilled.
The anomaly at 0 metres lies in an overburden
covered valley and on the north flank of the induced
polarization/magnetic high drill tested by the Company in 2016
(hole RH16-01). This hole was probed with BHEM; no conductors were
identified. Following completion of the 2016 drill program, and
with a better understanding of the stratigraphy of the volcanic
pile, it was recognized that the favourable and prospective VMS
geology occurs stratigraphically below this horizon, to the
northeast, towards Horizon 3.
The survey was completed by Excel Geophysics
Inc. Station spacing was 10 metres and 69 stations were surveyed.
An extended gravity survey is being considered given the positive
results from the test survey.
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
For further information,
contact:Investor Relations Tel: 250-729-0453Email:
info@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 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.
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