Troymet Reviews Redhill Plans
Box 37033, Country Club PO, Nanaimo, BC V9T 6N4 T: 250-729-0453 E: [email protected]
TSXV : TYE
www.TroyMet.com
Troymet Reviews Redhill Plans
January 24, 2017 - Troymet Exploration Corp. (TSXV: TYE) (" Troymet " or the Company ”) is pleased to
review its plans for advancing the Redhill project in British Columbia. Troymet’s 2016 diamond drillin g
program on the Alpha prospect intersected two zones of significant copper, volcanogenic massive
sulphide (“VMS”) mineralization in hole RH16-04, drilled in Horizon 2:
• Upper Zone: 0.72% copper and 6.5 g/t silver over 6.5 metres , starting at a depth of 5.1 metres
• Lower Zone: 0.64% copper and 1.5% zinc over 2.0 metres from 206.3-208.3 metres downhole
Lower Zone
Figure 1 shows the limited extent of drilling in the Lower Zone mineralization. Figure 2 , a vertical
longitudinal section, shows the distribution of the various mineralized drill intercepts in the Lower Zone.
The geometry of the mineralization indicates the be tter mineralization lies below the levels drill tes ted
to date. High-grade copper mineralization was intersected in the deepest holes (RH16-04 and RH-06-25)
and this mineralization is open along strike and at depth. As well, the mineralized zone has not been drill
tested to the northwest or southeast. A transient E M conductor is associated with the mineralization.
With the exception of one shallow test (hole 85-2) this conductor is untested/undrilled to the southeast,
and remains a significant target. The mineralizatio n is crudely bedded and dips/plunges steeply west.
The topography also drops off to the west into a prominent valley with the result that the mineralization
is expected to remain or come close to surface. Tro ymet has identified a characteristic blue quartz ey e
pyroclastic porphyry that is associated with the VM S mineralization. The recognition of this important
unit will guide future exploration.
Upper Zone
Hole RH16-04 collared in the Upper Zone which grades 0.72% copper and 6.5 g/t silver over 6.5 metres,
starting at a depth of 5.1 metres ( Figure 3 ). The mineralization extends upwards an additional 3.8
metres to the base of the casing; however, because o f poor recovery in this interval, a reportable
mineralized interval cannot be calculated. Secondary copper mineralization is present in the wall of t he
drill platform (Figure 4 ). The total downhole width of the mineralized zone is estimated to be in excess
of 11.5 metres. This significant new discovery of V MS mineralization carries strong copper
mineralization over a significant interval with samples up to 1.5% copper over 0.5 metres (Table 1).
The Upper Zone copper mineralization occurs on or just within the lower boundary of Horizon 3 (Figure
1). Horizon 3 is unexplored. The mineralization is o pen along strike and to depth and there are no
nearby drill holes. As previously reported (News Re lease of July 25, 2016) breccia boulders, several of
which contain massive sulphide blocks, have been fou nd within Horizon 3 in a locale that is
approximately 200 metres northwest of where hole RH16-04 was collared. The newly discovered Upper
Zone together with the breccia boulders indicate significant discovery potential in Horizon 3.
Historically, three stacked prospective volcanic sequences are recognized (Horizons 1, 2 and 3), dipping
steeply to the west. Stacked mineralized horizons a re a common feature in VMS mining camps world-
wide. Within a camp, deposits may occur laterally at a discrete time - stratigraphic interval or vertic ally
stacked through hundreds of metres of volcanic stratigraphy. The distribution of TEM conductors in the
Box 37033, Country Club PO, Nanaimo, BC V9T 6N4 T: 250-729-0453 E: [email protected]
Alpha prospect indicates there are additional prosp ective sequences that have not yet been
mapped/recognized.
2017 Plans
Troymet’s exploration has resolved the form and conf iguration of the VMS mineralization in the Lower
Zone, and identified high potential drill targets. A s well, the Company discovered a new copper VMS
zone (Upper Zone) in a prospective volcanic sequenc e that has not been explored. The Upper Zone is
shallow and amenable to inexpensive follow up explo ration. Troymet plans to strip, map, trench and
sample the Upper Zone mineralization prior to furth er drilling. As well, Troymet plans borehole
electromagnetic surveys (“EM”) of holes drilled in 2016 to identify off-hole conductors and conductors
too deep to have been detected by surface EM and shallow penetrating airborne EM surveys.
Troymet plans to test the Beta target, when drilling resumes. As previously reported (News Release of
October 25, 2016), the Company has identified a new, l arge chargeability anomaly associated with the
40 mho Beta target which is located on a 550 metre long EM conductor. The Beta target Is located 200
metres south of borehole S83-4 (2.54% copper, 2.78% zinc, 77.0 g/t Ag, and 0.37 g/t Au over 7.75
metres).
The gold-in-soil anomaly is aligned along the northeast edge of a resistivity high, in a magnetic low, in a
diorite intrusive. Troymet plans overburden trenching of the better anomalies prior to drilling.
Table 1. Copper intercepts in the Upper Zone
Hole From (m) To (m) Width (m) Cu (ppm) Ag (ppm) Notes
RH16-04 1.3 2.1 0.8 850 2.58 Incomplete recovery
RH16-04 2.1 3.1 1 862 5.54 Incomplete recovery
RH16-04 3.1 4.1 1 363 10.55 Incomplete recovery
RH16-04 4.1 5.1 1 1995 8.38 Incomplete recovery
RH16-04 5.1 5.6 0.5 15000 14.65
RH16-04 5.6 6.1 0.5 3390 3.97
RH16-04 6.1 6.6 0.5 5750 5.05
RH16-04 6.6 7.1 0.5 8900 6.29
RH16-04 7.1 7.6 0.5 4860 4.70
RH16-04 7.6 8.1 0.5 10000 10.35
RH16-04 8.1 8.6 0.5 5470 4.28
RH16-04 8.6 9.1 0.5 9060 9.44
RH16-04 9.1 9.6 0.5 10900 7.16
RH16-04 9.6 10.1 0.5 7230 6.97
RH16-04 10.1 10.6 0.5 4330 4.16
RH16-04 10.6 11.1 0.5 6610 5.61
RH16-04 11.1 11.6 0.5 2480 2.63
Widths presented in Table 1 are downhole core lengths; true widths cannot be reliably estimated at this
time. Core samples were analysed at ALS Global, Vancouver.
Qualified Persons
All technical data, as disclosed in this press release, has been verified by Kieran Downes, Ph.D., P.Geo., a
Qualified Person as defined by National Instrument 43-101.
Box 37033, Country Club PO, Nanaimo, BC V9T 6N4 T: 250-729-0453 E: [email protected]
About Troymet Exploration Corp.
Troymet Exploration Corp. is a junior exploration c ompany with a solid treasury and with projects in
British Columbia (Redhill and Golden Eagle), Manitob a (McClarty Lake) and Utah (Wildcat). Troymet
operates the Wildcat, Redhill and Golden Eagle proje cts. Hudbay Minerals Inc. is the operator of the
McClarty Lake joint venture and must contribute $1,1 51,052 in joint venture expenditures before
Troymet is required to fund its participating inter est. Troymet retains a 2% net smelter returns royal ty
(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
For further information, contact:
Investor Relations
Tel: 250-729-0453
Email: [email protected]
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 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 i n respect of: the Redhill Project, including the po ssible exploration and
development of the Redhill Project; the exploration potential and analogous deposit potential of the Redhill Project; future data
analysis, sampling plans and exploration plans on t he Redhill Project, including potential stripping, mapping, trenching and
sampling, potential EM surveys, and the resumption of exploration on identified targets; the timing for exploration and drilling
on the Redhill Project; exploration targets and the potential of such exploration targets; and the abi lity and the timeframe
within which the Redhill Project can be advanced. T here can be no assurance that such information will prove to be accurate,
and actual results and future events could differ m aterially from those anticipated in such informatio n. This forward-looking
information reflects Troymet's current beliefs and is based on information currently available to Troy met 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 equit y financing, if needed, at prices acceptable to Tro ymet; Troymet’s current
and initial understanding and analysis of the Redhi ll Project; the ability of Troymet to discover viab le exploration targets and
the results of exploration on the Redhill Project; the cost of exploration, including stripping, mapping, trenching, sampling, EM
surveys and drilling, on the Redhill Project; Troym et's general and administrative costs remaining con stant; 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 result s, level of activity, performance or achievements o f Troymet to be
materially different from those expressed or implie d by such forward-looking information. Such risks a nd other factors may
include, but are not limited to: the early stage de velopment of Troymet and its projects, and in parti cular, the Redhill 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 activiti es; competition; changes in project parameters as p lans continue to be
refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failur e to receive board or
regulatory approvals; changes in legislation, inclu ding 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 use d to develop such forward-looking information and a description of other
risk factors that may cause actual results to diffe r materially from forward-looking information can b e found in Troymet's
disclosure documents on the SEDAR website at www.se dar.com. Troymet does not undertake to update any f orward-looking
information except in accordance with applicable securities laws.