Troymet Exploration Corp. ("Troymet" or the "Company") 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 eight contiguous mineral claims totaling 936 hectares.
Troymet owns 100% interest in three of the claims (344 hectares) and a 40% interest in five claims (588 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.
In early 2015, Hudbay, as Joint Venture operator, completed a compilation and review of all the technical data for the Joint Venture claims (news release dated March 19, 2015). This work resulted in the identification of new targets and the subsequent staking, by the Joint Venture, of three new mineral claims which are now included in the Joint Venture (see McClarty Lake Claim Map). Two of the newly identified targets occur near the boundary between Joint Venture claims and 100% owned Troymet claims.
Hudbay planned to conduct ground geophysical surveys over the newly identified exploration targets in Spring 2015, however, the work had to be deferred due to poor ice conditions. Troymet has been advised by Hudbay that Hudbay still plans to conduct the ground geophysical surveys once ice conditions permit.
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.
Vancouver Resource Investment Conference 2016
Troymet will be presenting data for its projects at the Vancouver Resources Investment Conference which will be held from January 24-25, 2016 at the Vancouver Convention Centre West, Booth #531.
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