Troymet Exploration Corp. is pleased to update progress on its McClarty Lake VMS project, in Manitoba. The McClarty Lake property is located 47 kilometres southwest of Snow Lake, MB and comprises five contiguous mineral claims totalling 596 hectares.
Troymet owns 100% of three of the claims and holds a 40% interest in two claims (252 hectares) in a Joint Venture with HudBay Minerals Inc. ("Hudbay"). Under the terms of the Joint Venture Agreement, Hudbay must contribute $1,151,052 in joint venture expenditures before Troymet is required to fund its participating interest.
Hudbay, as Joint Venture operator, has recently completed a compilation and review of all the technical data for the Joint Venture claims. This work resulted in the identification of new targets and the subsequent staking, by the Joint Venture, of three new mineral claims which adjoin both the Joint Venture claims and claims owned 100% by Troymet. Two of the new targets occur near the boundary between Joint Venture claims and 100% owned Troymet claims.
Hudbay is currently planning ground geophysical surveys over the newly identified exploration targets.
Kieran Downes, P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical information provided in this release.
Source: http://www.troymet.com/