Troymet Exploration Corp.
TSX VENTURE : TYE

Troymet Exploration Corp.

March 03, 2011 08:30 ET

Troymet Updates Drill Programs at Key & McClarty Lake Projects

COMOX, BRITISH COLUMBIA--(Marketwire - March 3, 2011) - Troymet Exploration Corp. (TSX VENTURE:TYE) ("Troymet" or the "Company") is pleased to update progress on the diamond drilling programs at the Key project (gold-silver) and the McClarty Lake project (copper-zinc-gold).

Key Project, British Columbia

The 100% owned Key project is located 125 km southwest of Vanderhoof, British Columbia. The property immediately adjoins the Blackwater project of Richfield Ventures Corp. The first ever diamond drilling to be conducted on this large property is underway, and a variety of targets have been selected for initial testing. Project maps can be viewed at: www.troymet.com/s/Key-Images.asp.

A number of targets have been drilled on the Crag grid on the west side of the property. The drill has now been moved to the area of Good News Lake on the Bluff grid to test coincident elevated to anomalous gold-silver-zinc bedrock anomalies, gold-in-soil anomalies, induced polarization anomalies and the GN Fault. The targets appear to be associated with the GN Fault, a buried intrusive body and possible diatremes or breccia pipes interpreted from the magnetic data.

Concurrent with the drilling, an induced polarization ("IP") survey is underway on the Bluff and Butte grids with the objective of identifying additional IP anomalies for drill testing, with or without coincident soil or rock anomalies.

A significant number of drill targets have been identified in areas of rugged topography. These will be advanced through IP surveys and will be drilled after spring break up.

Assay results will be released once received and evaluated.

McClarty Lake Project, Manitoba

The McClarty Lake property is located near Snow Lake, Manitoba and lies ~45 km south of HudBay Minerals Inc.'s Chisel Lake and Lalor Lake volcanogenic massive sulphide (VMS) deposits. The property comprises three claims (MAC-1, MAC-2 & MAC-3; 344 hectares) owned 100% by Troymet and two claims (DYC3606 & DOL78; 252 hectares) owned 60% by Troymet and 40% by HudBay ("option claims"). HudBay is currently earning an additional 20% interest in the option claims by spending $750,000 on exploration by June 5, 2011. Project maps can be viewed at: www.troymet.com/s/McClartyLake-Images.asp.

MAC Claims (100% Owned)
Diamond drilling is now underway on the Mac electromagnetic ("EM") conductor which is believed to lie on the same stratigraphic horizon as the Discovery zone, identified by Troymet in 2007 (see under Option Claims). The conductor has not been drilled previously. Major volcanogenic massive sulphide ("VMS") deposits, such as HudBay's Lalor and Chisel Lake deposits at Snow Lake, occur in association with such EM conductors. The stratigraphic horizon on which the Discovery zone and the Mac conductor occur has now been traced intermittently by Troymet over ~2,000 metres, and is highly prospective for the discovery of additional zones of VMS mineralization.

Assay results will be released once received and evaluated.

Option Claims (60% Owned)
HudBay has advised Troymet that it has begun the preparation of drill sites on McClarty Lake and plans to conduct a drilling program on the option claims, to complete its earn-back of a 20% interest from Troymet. Troymet identified a gold-bearing VMS system (Discovery zone) on the option claims in 2007.

Troymet is well financed and holds an exciting portfolio of precious metals and base metals exploration properties, all of which it plans to drill in 2011.

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

  • Troymet Exploration Corp.
    Investor Relations
    1-888-456-4952
    www.troymet.com