Troymet Options Uranium-Rare Earth Property
Troymet Exploration Corp. (TSX VENTURE:TYE) reports it has negotiated an option, subject to acceptance by the TSX Venture Exchange, to acquire a 100% interest in the Thelon project, which is located in Nunavut Territory from a director of the Company.The Thelon project is located approximately 150 km northwest of Baker Lake, Nunavut Territory. Agnico Eagle's new Meadowbank gold mine is located approx. 150 km east of the project. AREVA's pre-production stage Kiggavik uranium deposit is located 90 km southeast of the project while Uranium North Resources Corp.'s Amer Lake uranium deposit is located approx. 100 km to the north. The Thelon project (11 mineral leases - 7,213 ha) covers 5 properties prospective for high-grade uranium and rare earth mineralization. The properties contain a mix of uraniferous boulder trains, anomalous rock geochemistry and anomalous lake sediment geochemistry. The uranium mineralization is similar to the high-grade "unconformity-type" mineralization currently being mined in the Athabasca area of Saskatchewan and the Kombolgie area of Australia.
Posted March 29, 2012