Troymet Exploration Corp. is pleased to report that the initial field program on the Wildcat gold-silver project, Utah, has commenced. Management is currently enroute to the project and a field crew is mobilizing to the property.
Since optioning the property in February 2015, Troymet has completed a collation and analysis of all of the geological, geochemical, geophysical and drilling information. A number of specific target areas have been identified and these will be evaluated in the current program. The primary focus is structural feeders and breccias along the Joy Fault, structural/stratigraphic targets in Cambrian carbonate rocks and untested soil geochemical anomalies. These targets have the potential to host large, high-grade gold and silver mineralization in veins, stockworks, breccias and bulk-tonnage deposits.
The Wildcat project lies in the Detroit Mining District, an historic gold producing region in the northern Drum Mountains of Central Utah. The project, which is road accessible, is located approximately 50 kilometers northwest of the community of Delta and 177 kilometers south of Salt Lake City. The project is located astride the Joy Fault which juxtaposes volcanic tuffs of the Thomas caldera (Eocene-Oligocene) against Palaeozoic limestone sequences. The mineralization has some Carlin-like features with high grade gold in jasperoids hosted by Cambrian sediments similar to Long Canyon in Nevada. However, the chemistry points to a strong intrusive source and mineralization within caldera related faults suggests intrusion related structural targets similar to Cove-McCoy, Fortitude, and other distal-disseminated gold deposits of central Nevada. Numerous locally high-grade, gold-bearing jasperoids with strongly anomalous pathfinder geochemistry (Ag, Hg, Sb, Te, Bi) are present. Sampling by Troymet in the area of the Joy Fault confirmed the highly anomalous geochemistry (see News Release dated February 23, 2015).
Troymet, through its wholly owned subsidiary Troymet USA LLC ("Troymet USA"), holds an option to acquire a 70% interest in the Wildcat property from Renaissance Exploration, Inc., a wholly owned subsidiary of Renaissance Gold Inc. Under the terms of option agreement Troymet USA will retain RenEx as its contractor in Year 1 to take advantage of RenEx's expertise and established infrastructure. Troymet USA is exclusively responsible for the planning, execution and supervision of all exploration programs.