February 24, 2009
Troymet Confirms Intrusion Related Gold System on Golden Eagle Project
February 24, 2009 - Troymet Exploration Corp. (TSXV:TYE) (“Troymet” or the “Company”) is pleased to report on the 2008 diamond drilling and prospecting program at its 100% owned Golden Eagle project in northwest British Columbia. Results indicate the presence of large intrusion-related gold system spanning the ~12-kilometre strike length of the northern half of the Golden Eagle property. Multiple zones of gold mineralization, previously investigated in isolation in this area, are now considered as underlying vectors toward a related bulk-tonnage gold deposit(s).To date, only a limited portion of the Tannis zone has been drill tested as an intrusive-hosted gold target, and drilling was largely confined to the younger rhyolitic intrusive. The possible roots of the vein system in the larger underlying granitic phase were not targeted in this drill program and deeper drilling in this area is required. Diamond drilling in 2008 was confined to a 250-metre strike length of the Tannis zone along the north slope of Middle Ridge. Twelve holes (2,306 metres) were drilled to follow up high-grade gold-silver mineralization previously intersected in 2005-2006 (Reference: Sept. 24, 2007 news release). Drill intersections indicate the highly variable nature of the quartz-sulphide veins both in terms of metal content and continuity along strike and at depth. The best intersections returned 5.09 m @ 7.93 g/t Au and 23.8 g/t Ag and 4.3 m @ 2.05 g/t Au and 43.8 g/t Ag (Table 1). The mineralized system is demonstrated to continue along a strike length of nearly 150 metres and to greater than 200 metres down dip in both the rhyolitic and granitic intrusions. Arsenopyrite (+ pyrite) as disseminated, replacement-type and stringer mineralization within quartz veins was encountered in all eleven of the holes that reached target depth.
Table 1. Tannis Zone - 2008 Significant Drill Results
|
Hole ID |
UTM N | UTM E |
Azm (°) |
Dip
(°) |
From (m) |
To (m) |
Length (m) |
Gold (g/t) |
Silver (g/t) |
| TAN08-05 | 6637037 | 509375 | 165 | -45 |
156.48 |
157.78 |
1.30 |
1.61 |
N/A |
| TAN08-08 | 6637005 | 509226 | 165 | -45 |
86.94 |
88.38 |
1.44 |
1.42 |
11.9 |
| TAN08-08 |
143.39 |
143.79 |
0.40 |
2.53 |
38.0 |
||||
| TAN08-08 |
197.82 |
199.16 |
1.34 |
3.07 |
12.0 |
||||
| TAN08-08 |
199.16 |
225.25 |
26.09 |
0.103 |
N/A |
||||
| TAN08-09 | 6637005 | 509226 | 165 | -60 |
131.30 |
136.39 |
5.09 |
7.93 |
23.8 |
| including |
132.84 |
133.14 |
0.30 |
3.85 |
31.0 |
||||
| and |
134.70 |
135.27 |
0.57 |
66.20 |
145.0 |
||||
| TAN08-09 |
211.59 |
212.22 |
0.63 |
3.30 |
57.0 |
||||
| TAN08-09 |
212.22 |
246.58 |
34.36 |
0.067 |
N/A |
||||
| TAN08-10 | 6636928 | 509241 | 165 | -45 |
15.24 |
15.54 |
0.30 |
1.94 |
5.0 |
| TAN08-10 |
40.17 |
44.47 |
4.30 |
2.05 |
43.8 |
||||
|
including |
42.17 |
43.17 |
1.00 |
5.01 |
108.0 |
||||
| TAN08-10 |
67.59 |
67.89 |
0.30 |
11.05 |
14.0 |
||||
| TAN08-10 |
108.21 |
108.51 |
0.30 |
1.14 |
65.0 |
||||
| TAN08-10 |
191.52 |
191.82 |
0.30 |
1.27 |
6.0 |
||||
| TAN08-11 | 6637009 | 509385 | 165 | -45 |
114.62 |
115.02 |
0.40 |
1.96 |
<1 |
| TAN08-11 |
116.02 |
116.32 |
0.30 |
1.21 |
<1 |
||||
| TAN08-12 | 6636975 | 509422 | 135 | -45 |
32.44 |
32.74 |
0.30 |
13.15 |
12.0 |
| TAN08-12 |
38.05 |
41.15 |
3.10 |
0.97 |
N/A |
||||
|
including |
38.99 |
40.22 |
1.23 |
1.70 |
N/A |
||||
| TAN08-13 | 6636975 | 509422 | 135 | -60 |
43.29 |
43.69 |
0.40 |
3.93 |
6.0 |
| TAN08-13 |
48.34 |
50.18 |
1.84 |
0.70 |
13.3 |
||||
|
TAN08-15 |
6637063 | 509287 | 165 | -55 |
219.58 |
225.81 |
6.23 |
0.35 |
5.9 |
|
TAN08-16 |
6636956 | 509178 | 165 | -45 |
13.89 |
18.08 |
4.19 |
0.60 |
N/A |
|
including |
13.89 |
15.74 |
1.85 |
1.06 |
14.9 |
||||
| TAN08-16 |
25.94 |
26.82 |
0.88 |
2.04 |
14.0 |
||||
| TAN08-16 |
143.11 |
156.25 |
13.14 |
0.19 |
N/A |
During the 2008 program, mapping and prospecting in the vicinity of the Tannis zone further defined the quartz-sulphide vein system along a northwest trend nearly five kilometres in length. Taking into account similar mineral occurrences in other parts of the property, this length is extended to upwards of eight kilometres. Highlights of the prospecting (124 rock samples collected) are presented in Table 2.
Table 2. Highlights of 2008 Prospecting on North Mountain, Middle Ridge and South Mountain
|
Sample # |
Sample Area |
Location UTM N |
Location UTM E |
Gold (g/t) |
Silver (g/t) |
Lead (%) |
Sample Type |
| C201134 | North Mountain | 6639053 | 506558 |
0.301 |
75 |
3.16 |
Grab |
| C287113 | North Mountain | 6639138 | 506901 |
18.0 |
16 |
0.015 |
Grab |
| C287114 | North Mountain | 6639099 | 506828 |
3.64 |
<1 |
0.001 |
Chip |
| C287115 | North Mountain | 6639094 | 506824 |
10.68 |
5 |
<0.001 |
Grab |
| C287116 | North Mountain | 6639041 | 506796 |
4.11 |
3 |
0.001 |
Grab |
| C287117 | North Mountain | 6639076 | 506690 |
3.45 |
2 |
0.001 |
Grab |
| C201101 | Middle Ridge | 6637155 | 508821 |
2.37 |
11 |
0.087 |
Grab |
| C202110 | Middle Ridge | 6637191 | 508680 |
13.75 |
8 |
0.002 |
Grab |
| C202111 | Middle Ridge | 6637196 | 508661 |
8.3 |
5 |
0.003 |
Grab |
| C202112 | Middle Ridge | 6637206 | 508632 |
8.96 |
3 |
0.005 |
Grab |
| C287128 | Middle Ridge | 6636876 | 509048 |
1.98 |
81 |
0.305 |
Float |
| C287129 | Middle Ridge | 6636880 | 509022 |
9.46 |
41 |
0.009 |
Grab |
| C287132 | Middle Ridge | 6636951 | 508942 |
3.44 |
4 |
0.004 |
Grab |
| C287133 | Middle Ridge | 6636956 | 509048 |
3.64 |
11 |
0.009 |
Grab |
| C287134 | Middle Ridge | 6636953 | 509026 |
2.56 |
2 |
0.001 |
Grab |
| C287135 | Middle Ridge | 6636893 | 509041 |
3.6 |
9 |
<0.001 |
Grab |
| C201113 | Middle Ridge | 6636558 | 509383 |
1.19 |
10 |
0.006 |
Grab |
| C201120 | Middle Ridge | 6636383 | 509304 |
2.02 |
377 |
0.646 |
Grab |
| C201121 | Middle Ridge | 6636398 | 509329 |
2.48 |
24 |
0.031 |
Grab |
| C202146 | South Mountain | 6635905 | 510013 |
1.32 |
25 |
0.142 |
Grab |
| C202147 | South Mountain | 6635939 | 510036 |
7.91 |
1250 |
0.355 |
Grab |
| C287125 | South Mountain | 6635865 | 510035 |
1.42 |
3 |
0.01 |
Grab |
| C287126 | South Mountain | 6635873 | 510021 |
2.57 |
274 |
13.85 |
Grab |
| C201143 | South Mountain | 6635962 | 510033 |
4.27 |
47 |
0.708 |
Grab |
| C201144 | South Mountain | 6635929 | 510054 |
2.62 |
111 |
0.171 |
Grab |
| C201145 | South Mountain | 6635916 | 510010 |
5.22 |
165 |
0.071 |
Grab |
| C201146 | South Mountain | 6635902 | 510062 |
5.15 |
191 |
2.75 |
Grab |
| C201147 | South Mountain | 6635957 | 510022 |
1.15 |
25 |
0.04 |
Grab |
| C201148 | South Mountain | 6635939 | 509963 |
1.35 |
72 |
0.039 |
Grab |
| C201150 | South Mountain | 6635929 | 510070 |
1.42 |
167 |
0.61 |
Grab |
| C286616 | South Mountain | 6636033 | 509984 |
0.306 |
115 |
1.16 |
Grab |
| C286618 | South Mountain | 6636047 | 509979 |
1.33 |
64 |
0.504 |
Grab |
At Tannis, the mineralization is hosted in rhyolitic intrusive, in granitic intrusive at depth beneath the rhyolite, and to a lesser extent in the flanking mafic volcanics. Further to the north, the rhyolitic and granitic intrusives are capped by sediments and mafic volcanics of variable thickness. Multiple zones of gold-silver-arsenic-antimony mineralization (e.g. Plateau, Skarn, West Gully, Cowboy, and West Draw zones) occur in this ~3 x 3 kilometre area. These zones have previously been investigated in isolation and not considered as underlying vectors toward a related bulk-tonnage gold deposit(s). This northern portion of the Golden Eagle property is shown by the British Columbia Geological Survey’s stream sediment sampling to contain exceptionally anomalous values in gold (to 1080 ppb), gold indicator metals (arsenic, antimony and mercury) and base metals (BCGS Bulletin 105). In file GF2003-9, the BCGS noted the volcano-sedimentary setting is analogous to that at Eskay Creek.
The northwest trend of the quartz-sulphide vein occurrences on the property mirrors the trend of the Llewellyn fault zone, a regionally significant structure that cuts through the project area and has a strong correlation with the majority of mineral occurrences in the region.
Observations from mapping and drill core indicate that the quartz-sulphide veins are synchronous with late-stage cooling of the Late Cretaceous granite pluton and the slightly later rhyolitic intrusion. The quartz-sulphide vein system has been documented over an eight kilometre north-westerly trend within the central portion of the property, with intervening glacial valleys that are covered by overburden and remain underexplored. The northwest portion of the property (e.g. Plateau, Skarn, West Gully, Cowboy and West Draw zones) contains anomalous multi-element stream geochemistry and notable gold intersections from trenches and drill core as skarn-type mineralization in meta-volcanic rocks bordering Cretaceous intrusions. The southeast portion of the property (e.g. Camp and Carbonate zones) includes an area of quartz-carbonate stockwork veining variably mineralized with gold, copper and zinc in mafic volcanics.
The style and areal extent of mineralization at Golden Eagle strongly suggest a reduced intrusion-related gold system (RIRGS). RIRGS are characterized by widespread arrays of sheeted auriferous quartz veins, forming bulk-tonnage, low-grade gold deposits at the top of small plutons. Well known examples include the Fort Knox (Alaska) and Dublin Gulch (Yukon) deposits of the Tintina Gold Belt. RIRGS also include a wide range of intrusion-related mineral deposit styles including skarns, replacements and distal veins that form within the region of hydrothermal influence surrounding the causative pluton. All of these characteristics are well represented over the 25-kilometre span of the Golden Eagle property.
The 2008 prospecting program identified a new drill target on South Mountain where a cluster of nine gold and silver bearing veins were discovered within a ~100 x100 metre area (Table 2). This area lies approximately 1.5 kilometres southeast of the Tannis zone. With the recognition that the multiple zones of gold mineralization in the north half of the property are related to a large intrusion-related gold system, the focus of future exploration will be on the identification of gold targets in this area. The Company is working to integrate all geological, drill, geochemical and geophysical data to identify high impact intrusive-related gold drill targets in the north half of the project.
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. The 2008 drilling and prospecting program was managed by Equity Exploration Consultants Ltd. of Vancouver BC. All samples were sent to the ALS Chemex sample preparation facility in Terrace, BC and analysed at the ALS Chemex laboratory in Vancouver BC, an ISO 9001:2000 accredited facility. All technical information for the Company’s Golden Eagle project is obtained and reported under a formal quality assurance and quality control (QA/QC) program, details of which are presented on the Company’s website at: www.troymet.com/i/pdf/QAQC2-GE.pdf.
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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