May 11 2016
Troymet Exploration Corp. ("Troymet" or the Company") is pleased to report that it has secured permits to drill its Wildcat gold-silver project in Juab County, Utah, held under option from Renaissance Gold Inc. A drill contract has been signed and crews have been mobilized to prepare drill platforms. Drilling is expected to start in mid-May 2016. The Phase I drill program is budgeted at 1,220 metres of reverse circulation drilling in 9 holes, ranging from 67 to 213 metres, in the "High Grade Hill", "Core" and "SE" target areas (Wildcat Maps). As part of its planning the Company has permitted 14 drill sites. The project is road accessible.
The High Grade Hill target contains unusually high grade gold in jasperoid. Silver, bismuth, antimony, tellurium and mercury are also highly anomalous (Corporate Presentation). The Core target encompasses a significant structural intersection on the Joy Fault coupled with a possible volcano-structural depression and/or vent complex. This structural setting is the focus of a 2 km long rock chip geochemical zoning pattern where gold progressively increases towards the Joy Fault. The pattern includes proximal bismuth, copper and silver and peripheral lead, tellurium and arsenic relative to the Joy Fault. Principal component analysis shows that factor 2 scores, related to a precious-metals related assemblage (?), progressively increase in strength as the Joy Fault is approached. This indicates that the metal-bearing hydrothermal system is located in a structurally complex magnetic low, suggestive of pervasive alteration and demagnetization (News Release of January 19, 2016). A fence of two holes drilled in 1990, at the extreme north end of the structural zone, intersected 7.6 metres of 0.56 g/t Au and 3.0 metres of 0.43 g/t Au in the shallow hole. The undercut hole intersected 22.9 metres of 1.27 g/t gold. As well, the High Grade Hill discovery occurs in the Core target.
The SE target encompasses the Rattler and Rattler Breccia drill targets, which are adjacent to a large recessive zone developed along the Joy Fault on the margin of the Thomas Caldera. The Rattler anomaly is developed in carbonate rocks immediately adjacent to the Joy Fault in contrast to the Rattler Breccia, which is developed in a structurally complex location on the Joy Fault. Neither target has been previously drilled. The Rattler comprises a 300 metre long soil anomaly parallel to the Joy Fault averaging approximately 0.3 ppm tellurium, with mercury and gold concentrations of up to 4.9 ppm and 0.122 ppm, respectively (News Release of July 27, 2015). The target contains strong pathfinder element anomalies and is interpreted to be "leakage" from mineralization in more favorable host rocks at depth (<100 metres) or from mineralization in hydrothermal breccias associated with the Joy Fault. The Rattler Breccia and adjacent carbonate host rocks are strongly anomalous in gold and other trace elements associated with epithermal and carbonate-hosted gold deposits. (News Release of November 24, 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. ("RenEx"), a wholly owned subsidiary of Renaissance Gold Inc. Under the terms of option agreement, Troymet USA has retained RenEx as its contractor 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.
Qualified Person
President and CEO, 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: https://www.troymet.com/