Welcome!

News Feed Item

Troymet Reviews Wildcat Drill Plans

NANAIMO, BRITISH COLUMBIA -- (Marketwired) -- 12/01/16 -- Troymet Exploration Corp. (TSX VENTURE: TYE) ("Troymet" or the Company") is pleased to review plans for follow up drilling of holes WC16-08 and WC16-09 in the SE Target Area of the Wildcat gold project, Utah, held under option from Renaissance Gold Inc. (TSX VENTURE: REN). Troymet's initial exploration in the SE Target Area, in 2015, pointed to the likelihood of untested/undrilled precious metal mineralization at shallow depths associated with anomalous soil and rock chip geochemistry (News Release of November 24, 2015). The Company is pleased that its exploration model/target of shallow gold mineralization, in prospective silty limestones, concealed at shallow depths over an approximately 1 km2 area, has been validated with the intersection of significant elevated to anomalous gold in holes WC16-08 and WC16-09. These are the first holes drilled in this highly prospective district. Further drilling is required to establish the size and grade of this mineralization and to test for possible high-grade feeder zones. Parallels can be drawn with the Long Canyon gold deposit in northeast Nevada in that silty limestones carry Carlin-style gold mineralization beneath limestones that are nearly devoid of gold mineralization.

Hole WC16-08 intersected a long run of anomalous gold in the uppermost part of the Big Horse member (Figure 1). Anomalous mercury, tellurium and antimony broadly coincide with the anomalous gold interval (Figure 2). The feeder for this mineralization has not yet been identified. However, the extension of the structure with mineralization in WC16-09 lies 65 metres to the northeast and it may be the feeder for the mineralization in WC16-08 (Figure 5). Hole WC16-09 intersected anomalous gold near the bottom of the hole (7.0 metres of 0.040 g/t Au from 152.4 to 159.4 metres), just before intersecting gold-mineralized material in a greater than 12-metre wide fault zone (Joy Fault?) where drilling stopped due to poor recovery related to friable and clay altered rock, and loss of sample material into open fractures (Figure 3). Nonetheless, grab and/or select chip samples with elevated to anomalous gold values were collected from contiguous samples in the structure, including distinctive ferruginous clay-rich siltstone chips assaying from 0.14 to 7.5 g/t Au. Tellurium is strongly anomalous in this hole, with 6.1 metres (53.3 - 59.4 metres) assaying 5.29 ppm Te that includes a zone of hydrothermal breccia, and 13.7 metres (83.8 to 97.5 metres) of 1.39 ppm Te.

The structure and mineralization in WC16-09 lie on the edge of an area of complex structure (Figure 4 and Figure 5). Prospective silty limestones and structures here could host significant gold mineralization as evidenced by the gold in holes WC16-08 and WC16-09. RTP is a technique that correctly positions the magnetic anomalies in map view. The tilt angle derivative is able to resolve shallow and deeper sources equally. In this way, a more complete and detailed picture of the magnetic signature of the target area is obtained.

The 2016 drill program utilized a reverse circulation (RC) drill. Poor sample recovery was experienced in a number of important holes including hole WC16-09, drilled on the Rattler Breccia, and holes WC16-05 and WC16-06 drilled on High Grade Hill (News Release of August 9, 2016). Troymet plans to re-drill the target areas originally tested by holes WC16-09 and WC16-05 with a diamond drill to ensure sample recovery. Gold mineralization in competent rock, as in hole WC16-08, can be further explored with RC drilling.

Qualified Person

All technical data, as disclosed in this press release, has been verified by the Company's qualified persons Kieran Downes, Ph.D. P.Geo., a Qualified Person as defined by National Instrument 43-101.

About Troymet Exploration Corp.

Troymet Exploration Corp. is a junior exploration company with a solid treasury and with projects in British Columbia (Redhill and Golden Eagle), Manitoba (McClarty Lake) and Utah (Wildcat). Troymet operates the Wildcat, Redhill and Golden Eagle projects. Hudbay Minerals Inc. is the operator of the McClarty Lake joint venture and must contribute $1,151,052 in joint venture expenditures before Troymet is required to fund its participating interest. Troymet retains a 2% net smelter returns royalty (NSR) on the Key property, British Columbia, which was sold to New Gold Inc. in 2013.

TROYMET EXPLORATION CORP.

- Kieran Downes, Ph.D., P.Geo., President, CEO & Director

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 news release contains certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. In particular, this news release contains forward-looking information in respect of: the Wildcat Project, including the exploration potential and analogous deposit potential of the Wildcat Project; future drilling and exploration plans for the Wildcat project including data analysis, sampling plans and exploration plans on the Wildcat Project; and exploration targets and the potential of such exploration targets. 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. This forward-looking information reflects Troymet's current beliefs and is based on information currently available to Troymet and on assumptions Troymet believes are reasonable. These assumptions include, but are not limited to: the current share price of Troymet's common shares and the ability to raise future equity financing, if needed, at prices acceptable to Troymet; Troymet's current and initial understanding and analysis of the Wildcat Project; the ability of Troymet to continue to discover viable exploration targets and the results of exploration on the Wildcat Project; Troymet's general and administrative costs remaining constant; Troymet's cost assumptions for its exploration programs at the Wildcat Project and the market acceptance of Troymet's business strategy. Forward-looking information is subject to known and unknown risks, uncertainties and other factors which may cause the actual results, level of activity, performance or achievements of Troymet 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 Troymet and its projects, and in particular, the Wildcat Project; general business, economic, competitive, political and social uncertainties; capital market conditions and market prices for securities, junior market securities and mining exploration company securities; 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 Troymet; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. A description of other assumptions used to develop such forward-looking information and a description of other risk factors that may cause actual results to differ materially from forward-looking information can be found in Troymet's disclosure documents on the SEDAR website at www.sedar.com. Troymet does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Contacts:
Investor Relations
Tel: 250-729-0453
[email protected]
www.troymet.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"I focus on what we are calling CAST Highlight, which is our SaaS application portfolio analysis tool. It is an extremely lightweight tool that can integrate with pretty much any build process right now," explained Andrew Siegmund, Application Migration Specialist for CAST, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve f...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices t...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, discussed how given the magnitude of today's application ...
DevOps promotes continuous improvement through a culture of collaboration. But in real terms, how do you: Integrate activities across diverse teams and services? Make objective decisions with system-wide visibility? Use feedback loops to enable learning and improvement? With technology insights and real-world examples, in his general session at @DevOpsSummit, at 21st Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, explored how leading organizations use data-driven DevOps to clos...
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, discussed how they built...