January 14, 2010
Troymet Announces Winter Program at McClarty LakeJanuary 14, 2010 - Troymet Exploration Corp. (TSXV:TYE) (“Troymet” or the “Company”) is pleased to update progress on its McClarty Lake project in Manitoba. The project is located near Snow Lake, Manitoba and approximately 45 km south of the Chisel Lake and Lalor Lake volcanic massive sulphide (VMS) deposits at Snow Lake (HudBay Minerals Inc.).
The McClarty Lake property comprises three claims owned 100% by Troymet and two claims owned 60% by Troymet and 40% by Hudson Bay Exploration and Development (HudBay) (“option claims”). HudBay is currently earning an additional 20% interest in the option claims where Troymet identified a gold-bearing VMS system, the Discovery zone, in 2007. The zone is sub-vertical and extends to near surface, starting at the base of the Palaeozoic cover rock at a depth of approximately 50 metres. The sulphide mineralization and associated alteration system at the Discovery zone is very similar to that associated with the Chisel Lake and Lalor VMS deposits and a number of mineral lenses have been identified. The Company anticipates that HudBay will conduct a 2010 winter diamond drilling program on the zone.
Troymet plans a 2010 winter diamond drilling program (~1,500 metres) on its 100% owned properties. A ground PEM geophysical survey is scheduled for late January and diamond drilling is planned for February-March. The drill program will test the Mac EM conductor, which is on trend with the Discovery zone. The Mac conductor was identified by the Company’s 2008 deep penetrating VTEM helicopter-borne survey and is a high priority target with the potential to host significant VMS mineralization.
Troymet’s 100% owned claims are strategically placed and the Company believes this green field area has the potential to deliver additional VMS discoveries. The Mac conductor offers the potential for immediate and significant new discoveries on 100% owned Troymet ground.
HudBay continues to drill on the multi-lens Lalor deposit, which lies at a depth of ~750 metres and dips north for over 500 metres, and has started development of an $85 million production ramp from its Chisel North mine to the Lalor deposit (HudBay website PowerPoint). The Lalor deposit contains significant zinc resources and HudBay estimates the deposit could contain 3 million ounces of gold (HudBay news release - October 8, 2009).
Elsewhere, VMS Ventures Inc. continues to make discoveries on its Reed Lake and Tower zones which lie ~25 km northwest of McClarty Lake (VMS news release - January 13, 2010).
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:
Tel: 1-888-456-4952 or firstname.lastname@example.org
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 certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. 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. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company’s disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws
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