Troymet Exploration Corp.
TSX VENTURE : TYE

Troymet Exploration Corp.

November 06, 2009 08:30 ET

Troymet Plans to Drill the Mac Target at McClarty Lake

COMOX, BRITISH COLUMBIA--(Marketwire - Nov. 6, 2009) - Troymet Exploration Corp. (TSX VENTURE:TYE) ("Troymet" or the "Company") is pleased to update progress on its McClarty Lake project, located near Snow Lake, Manitoba. The project is located approximately 45 km south of the HudBay Minerals' Chisel Lake and Lalor Lake VMS deposits. 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"). Troymet identified a gold-rich volcanic massive sulphide (VMS) system, the Discovery zone, on the option claims in 2007, and HudBay is currently earning an additional 20% interest in those claims from Troymet. The Company anticipates that HudBay will conduct a 2010 winter diamond drilling program on the Discovery zone.

On its 100% owned properties, Troymet plans a 2010 winter drill program (~1500 metres) to evaluate the Mac EM conductor, which is on-trend with the Discovery zone VMS mineralization (see Mac EM target at www.troymet.com/s/McClartyLake-Images.asp). The Mac conductor was identified by a 2008 VTEM helicopter-borne survey which offers deeper penetration compared with traditional airborne EM survey systems. The Mac conductor, as with the Discovery zone, may not have been detected by earlier surveys because it lies at a greater depth. There is no record of prior drilling in this area. The undrilled Mac conductor is a high priority target with the potential to host significant VMS mineralization.

In addition to the Mac conductor, the 2008 VTEM survey identified two EM conductors at the Discovery zone, one of which remains untested. This is a priority target. The presence and location of these conductors underscores the potential for additional significant VMS discoveries both in and between the Mac target and the Discovery zone. The better intersections in the Discovery zone (News Release April 9, 2008) are:

  • 43.05 m @ 0.38 g/t Au; 6.53 g/t Ag; 0.31% Cu & 1.47% Zn incl. 15.3 m of 3.46% Zn
  • 47.06 m @ 1.23 g/t Au; 5.13 g/t Ag, 0.35% Cu & 0.94% Zn incl. 9.18 m of 0.94 % Cu & 2.93 m of 5.44% Zn

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.

Troymet's 100% owned claims are strategically placed and the Company is very optimistic regarding the potential for additional significant VMS discoveries in this area. The Discovery zone is a greenfield discovery which was not detected or recognized by many airborne EM surveys. Troymet believes that the Mac conductor, which is on-trend with the Discovery zone, offers the potential for immediate and significant new discoveries on 100% owned Troymet ground.

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

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.

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.

Contact Information