Business
Troymet Starts Field Program at Redhill
NANAIMO, BRITISH COLUMBIA--(Marketwired - April 4, 2016) - Troymet Exploration Corp. (TSX VENTURE:TYE) ("Troymet or the Company") is pleased to report that plan
About this update from Bessor Minerals Inc.
[{"type":"text","content":"NANAIMO, BRITISH COLUMBIA--(Marketwired - April 4, 2016) - Troymet Exploration Corp. (TSX VENTURE:TYE) (\"Troymet or the Company\") is pleased to report that planning for an induced polarization (\"IP\") survey and a diamond drilling program at Redhill is well advanced. A field crew will be on-site April 6-9, 2016, to select an optimal configuration for the IP survey, to prospect the ~900 m X ~250 m gold-in-soil anomaly (see news release of October 29, 2015), and to select drill sites to test volcanogenic massive sulphide (\"VMS\") and gold targets. The IP survey is designed to test for gold rich pyrite mineralization and zinc rich VMS mineralization that is not an electromagnetic (\"EM\") conductor. This type of mineralization has not been tested for at Redhill. There are many examples of this type of VMS mineralization including the Discovery zone on the Company's McClarty Lake project in Manitoba. There are also untested EM conductors at Redhill. A 2006 fixed-loop transient EM (FLTEM) survey identified 11 EM conductors in an area ~600 X 1,100 metres. The mineralization in hole RH-06-25 (8.75% copper, 4.75% zinc, 1.22 g/t gold and 61.19 g/t silver over 2.04 m) is associated with a medium strength, 200-meter long conductor. There is an undrilled, off-hole Pulse EM conductor adjacent to hole RH-06-25 that indicates extensions to this mineralization. Conductors along strike, and other nearby stronger conductors, have not been drill tested. (British Columbia ARIS (Assessment Report Indexing System) Report #28525). Kieran Downes, P. Geo., a Qualified Person as defined by National Instrument 43-101, the President and CEO of Troymet, has reviewed and verified the technical information provided in this release. Grant of Options Troymet has granted 2,200,000 options to purchase common shares of Troymet to directors and officers of Troymet in accordance with Troymet's stock option plan. All of the options have an exercise price of $0.05 per share, vest immediately and expire 10 years from the date of issuance. Troymet has determined that exemptions from the various requirements of the TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 are available for the issuance of the options to the directors and officers of Troymet (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not ...