February 17, 2010
Troymet Confirms New Gold Targets at Golden Eagle
February 17, 2010 - Troymet Exploration Corp. (TSXV:TYE) (“Troymet” or the “Company”) is pleased to report results from its winter diamond drilling program on the North prospect of the Golden Eagle project in northern British Columbia. The five-hole (506-metre) program successfully tested four previously un-drilled and widely spaced targets over an area of approximately 3.5 km². These targets were not amenable to stripping or trenching (North Prospect - 2009 Drilling and New Target Zones).The West Gully zone is overburden covered and unexplored. The 2009 gold-in-stream sediment sampling program indicates widespread anomalous gold (News Release - December 21, 2009). Hole N0901, the first and only hole drilled on the West Gully zone, intersected 0.11 g/t gold over 86.84 metres in variably sheared, silicified and chlorite-sericite altered felsic intrusive. The hole was shut down in anomalous gold mineralization (0.33 g/t gold over 15.24 metres). The mineralized zone is also anomalous in pathfinder elements: arsenic, lead, antimony, zinc and silver (see Table 1 at Golden Eagle Project). It is apparent there is a large, untested gold-bearing structure(s) in this area and that there is potential for shallow gold mineralization. The Company is planning an induced polarization survey to identify the structures prior to further diamond drilling.
Holes N0902/N0903 and hole N0905 were drilled approximately 1,300 metres apart. The geology of the intercepts in N0903 and N0905 suggest the two holes may have intercepted the same structural zone. If correct, this structural zone is of major regional significance and is highly prospective. All three holes intersected silver-gold mineralization within broader structural zones carrying low to anomalous gold values (Table 1). No felsic intrusive was intersected in these shallow holes indicating the target gold zones lie deeper in the system. Holes N0902/N0903 targeted the LQ vein. Both holes intersected the target within a wider zone of shearing, alteration and sulphides (trace to 2% pyrite-pyrrhotite) which carries low to anomalous gold values (0.01 to 0.037 g/t gold).
- Hole N0902 cut 4.7 metres of 0.41 g/t gold including 2.03 metres of 34.41 g/t silver.
- Hole N0903 cut three zones of silver-gold mineralization with a best intersection of 0.74 g/t gold and 58.412 g/t silver over 2.12 metres.
- All of the zones carry anomalous pathfinder elements: arsenic, bismuth, lead and antimony.
Hole N0904 intersected sheared feldspar porphyry which returned low to anomalous gold (0.01 to 0.117 g/t) and arsenic (193 to 4,250 ppm) values.
The Company is pleased with the drill results. The West Gully zone is emerging as a large (2.5 km²), greenfield, gold target with potential for shallow mineralization. Holes N0902/N0903/N0905 also appear to have identified a new, highly prospective, major gold bearing structure. Troymet believes the North prospect may host one or more bulk-tonnage gold deposits. As a result of data compilation and exploration that commenced in 2009, Troymet has identified three primary targets for diamond drilling:
- Skarn zone (News Release of June 25, 2009)
- West Gully zone
- LQ structure
Troymet is a junior exploration company with precious and base metal projects located in British Columbia and Manitoba, Canada. The Company is actively seeking partners to advance its highly prospective properties and continues to seek new projects with high-value and large-tonnage potential to add to its portfolio.
The 2009 drilling program is managed by Scott Casselman Geological of Whitehorse, YK. Samples were analyzed by ALS Chemex, 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: here.
Kieran Downes, P.Geo., President 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
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 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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