Troymet Exploration Corp. ("Troymet" or the "Company") reports preliminary results of the 2013 drill program on the McClarty Lake joint venture property, as provided by project operator, Hudbay Minerals Inc. ("Hudbay").
Hudbay drilled a single hole to test for the down dip and southward strike continuation of the Discovery Zone volcanic massive sulphide (VMS) mineralization discovered by Troymet in 2007. Drilling commenced on February 27, 2013 and was shut down on March 7, 2013 at 437 metres depth due to concerns of unsafe ice conditions. A borehole electromagnetic (EM) survey was completed upon shutdown.
Sulphide bearing biotite-quartz-garnet-amphibole-kyanite-cordierite-sericite gneisses and schists were intersected from 280 to 437 metres down hole. The main sulphide mineralization, consisting of predominantly pyrite (5-25%) and minor pyrrhotite, was intersected over a 52 metre interval from 346 to 398 metres down hole. A second 5 metre interval with 3-5% pyrite and minor pyrrhotite was intersected from 423 to 428 metres down hole. No significant occurrences of sphalerite (zinc sulphide) and chalcopyrite (copper sulphide) were reported by HudBay.
Interpretation and modelling of the borehole EM data revealed two off hole responses, one of which is interpreted to represent the zinc and copper bearing (Discovery Zone) mineralization intersected in Troymet's 2007-2008 drilling, the other anomaly to represent the pyrite-pyrrhotite mineralization intersected in 2011 Hudbay holes, MCC001/MCC002/MCC003.
Assay results are pending and will be released once received from Hudbay.
The McClarty Lake project is located ~45 kilometres south of Hudbay Chisel North and Lalor VMS deposits. The project comprises two claims (DYC3606 & DOL78; 252 hectares) held in a Joint Venture between Hudbay (60%) and Troymet (40%), and three claims (MAC-1, MAC-2 & MAC-3; 344 hectares) owned 100% by Troymet. Under the terms of the Joint Venture Agreement, Hudbay must fund $1,076,051 in exploration costs before Troymet is required to fund its participating interest. Thereafter, Hudbay and Troymet will share all future exploration and development expenditures pro-rata based on their participating interests.
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