Troymet identifies North area drill target at Wildcat
Troymet Exploration reports a new drill target in the North Target area on its Wildcat gold-silver project in Juab County, Utah.
The 2015 exploration program of prospecting, mapping, BLEG sampling and soil sampling, in conjunction with detailed analysis of the airborne magnetics, identified the North Target area as a potential drill target.
The target is clearly recognizable in Principal Component Analysis (PCA) of the rock chip geochemistry (Figure 1) and it has a strong gold and tellurium signature (Figure 2 & Figure 3). PCA analysis is a technique used to bring out strong patterns in a dataset to make data easy to explore and visualize. In the case of the rock geochemistry dataset (49 elements + geology), PCA analysis shows geology to be the first factor (Factor 1).
Heavy metal geochemistry comprises the second factor (Factor 2) and it shows a strong focus on the Core and North Target areas.
Structural complexity in the North target, created by intersecting faults, appears to have created the necessary porosity and permeability for the emplacement of mineralization, as evidenced by the rock geochemistry.
The North target appears to be an extension of the Core target. Together the two zones cover a distance of ~1,000 metres. Troymet plans further work in this area once field work resumes.
An application for a permit to conduct a 2016 drill program on the Wildcat project has been submitted to the State of Utah and the Bureau of Land Management (BLM) (news release dated January 6, 2016).
All technical data, as disclosed in this press release, has been verified by the Company's qualified persons Kieran Downes, Ph.D. P.Geo., and Mark Coolbaugh, Ph.D., CPG. Both are Qualified Persons as defined by National Instrument 43-101.
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.
Source: Company Press Release