August 7, 2008
Troymet Commences Drilling at Golden Eagle Project
August 7, 2008 - Troymet Exploration Corp. (TSXV:TYE) (“Troymet” or the “Company”) is pleased to announce the commencement of diamond drilling on its 100% owned Golden Eagle project in northwest British Columbia. The planned 2,500-metre program will focus on the Tannis and LQ prospects.The diamond drilling program will initially target the Tannis zone, where drilling in 2005-2006 intersected high-grade gold-silver mineralization in a pyrite and arsenopyrite-bearing quartz vein system in rhyolitic intrusive (Reference: Sept. 24, 2007 news release). Individual quartz veins have been traced in excess of 300 metres. The mineralized veins also intrude the Boundary Range Metamorphic Suite that flanks the intrusive to the east, and reconnaissance soil geochemical sampling suggests the mineralized veins continue into or beneath Jurassic volcanics/sediments that flank the intrusive to the west.
The mineralization at Tannis reflects an epithermal-style mineralizing environment, and this type of setting has the potential to host bonanza-grade mineralization.
Table 1. Tannis Zone - 2005-2006 Drill Results
|
Hole # |
UTM N | UTM E |
From (m) |
To (m) |
Length (m) |
Gold (g/t) |
Silver (g/t) |
|
| TAN05-01 | 509243 | 6636936 | 49.60 | 51.20 | 1.60 | 7.36 | 102.81 | |
| TAN05-02 | 509320 | 6636977 | 40.30 | 45.80 | 5.50 | 10.73 | 104.20 | |
| incl. | 44.10 | 45.80 | 1.70 | 29.94 | 135.00 | |||
| TAN05-03 | 509300 | 6637014 | 35.80 | 41.00 | 5.20 | 7.90 | 12.90 | |
| incl. | 37.50 | 39.90 | 2.40 | 16.03 | 24.75 | |||
| 71.00 | 79.03 | 8.30 | 2.10 | 8.87 | ||||
| incl. | 74.00 | 75.00 | 1.00 | 7.97 | 8.11 | |||
| TAN06-04 | 509235 | 6636967 | 84.45 | 87.58 | 3.10 | 1.58 | 25.4 |
Where exposed, the LQ prospect is a minimum 1.0-metre wide pyrite and arsenopyrite-bearing quartz vein in Stuhini Group Volcanics. Limited sampling in 2004 returned 1.76 g/t and 4.72 g/t gold in a grab and float sample respectively (Reference: Sedar filing Oct. 11, 2007). There is no historical record of the LQ prospect ever being drill tested.
The current program also includes detailed and reconnaissance prospecting over the property’s 25-km long extent, with particular focus on a number of airborne magnetic and EM anomalies identified in 2005 that have yet to be investigated.
The 8,178-hectare Golden Eagle project is located within the Tintina Gold Belt in northwestern British Columbia. The Company controls a 100% interest in the property through a mix of 100% owned claims and optioned claims. The property has the potential to host several deposit types, including high-grade gold-silver vein-hosted deposits, bulk tonnage copper/gold porphyries with associated skarn deposits and volcanogenic massive sulphide (VMS) deposits. Eleven separate mineralized zones have been identified to date over the property’s 25-km long extent.
The Company has engaged Equity Exploration Consultants Ltd of Vancouver BC to conduct the 2008 exploration program and the drilling contract was awarded to Apex Diamond Drilling Ltd. of Smithers BC. All core samples will be sent to ALS Chemex laboratory in Vancouver BC and assay results will be released once received and compiled.
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
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this 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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