Walcott Resources Announces Encouraging
Gold Values
Confirmed by 2020 Field Program
Vancouver,
British Columbia – December 9, 2020 - InvestorsHub
NewsWire -- Walcott Resources Ltd.
(CSE:WAL) (FSE: WR2) (OTC PINK:
WALRF)(the "Company" or "Walcott")
is pleased to report that it has received results from recent
rock chip sampling on the company's Cobalt Hill Property located
near the
City of Castlegar, in Southern BC
and is encouraged
by evidence of low-grade, bulk-tonnage style gold mineralization
within intrusive rocks on the
property.
Known gold
mineralization on the Cobalt Hill
property consists
of numerous narrow intrusive-hosted
high-grade quartz
veins containing
visible gold
(i.e. Maude S vein: 38.0, 39.0 and 85.6
ppm Au; High Grade vein: 14.4 ppm Au, 38.0 ppm Au,
88.4 ppm Au, 413.0 ppm Au[1],[2]).
The 2020 exploration
program was directed at
assessing the potential for larger
zones of low grade gold mineralization on the
property,
rather than repeat sampling of these known high-grade
areas. Geological mapping was
completed and a total of 60 rock samples, including field
duplicates and independent QA/QC standards of known grade, were
submitted for analysis.
The majority of
rock samples were from the Meister-Marilyn zone
where strong sericite-altered intermediate
intrusive, with local silicification and
quartz veining, occurs within in a 200 x 100 m heavily
forested area. Narrow quartz veins at the
Meister/Marilyn zone have returned elevated gold values
from historic grab samples, including 37.3 ppm
Au.1,2
A grab sample
from the Meister zone collected by the company in 2019 returned 8.0
g/t Au. This area is untested by
drilling.
Samples
collected
at the
Meister/Marilyn in 2020 were continuous
representative chip samples from historic trenches
and pits,
across the trend of mineralization. Three intervals of elevated
gold were returned, as follows:
|
|
From_m
|
To_m
|
Interval_m
|
Au_ppm
|
Ag_ppm
|
|
Meister
Trench
|
20.0
|
23.0
|
3.0
|
1.63
|
7.48
|
|
Meister
Trench
|
0.0
|
14.0
|
14.0
|
0.38
|
0.12
|
|
Marilyn
Trench
|
0.0
|
6.0
|
6.0
|
0.16
|
0.69
|
|
Grades
represent weighted average grades from continuous chip
samples
|
| |
|
|
|
|
|
Gold
correlates strongly with arsenic and
silver in rock samples, and moderately with antimony, mercury and
sulfur. Induced polarization
is being
considered for this area. Modern trenching
is also
being
considered to
better expose rock in this area for systematic sampling prior to
possible diamond drilling.
The
second
area targeted in the recent work program
was
a 650 x
250 m coincident magnetic low anomaly
and gold-in-soil geochemical
anomaly with values to 622 ppb
Au,
which is
located
approximately
2 km east of the
Meister/Marilyn zone.[3]
Historic rock samples from
within the target area have returned greater than 2 ppm gold
from grab
samples of float material.3
The target area
is underlain by intermediate intrusive and straddles a structural
intersection between a prominent northwest trending fault and a
north trending fault. Abundant quartz veining occurs in
float, outcrop and sub-crop in this area. None
of the grab rock samples collected in the 2020
program were significantly
elevated in
gold, but
as at the
Meister/Marilyn zone, a correlation is observed
between gold and silver and arsenic and suggests a similar
mineralization and alteration style.
The
large gold
soil anomaly remains
unexplained, is untested by drilling,
and is a high priority target for follow-up. Walcott is
considering a winter program of induced polarization to provide
further definition to the area, prior to drill
testing.
Rock
samples described
in this release were
shipped to MS Analytical Labs in Langley, B.C. for preparation and
analysis. MS
Analytical is an ISO 17025 and ISO 9001 accredited
laboratory. Samples
were crushed to 70% passing 2mm, then a 250 g split was pulverized
to 85% passing 75 µm. Multi-element analysis was by method
IMS-132
(ICP-AES/MS
following aqua
regia digestion
of a 40
g
sample).
Fire assay
analyses (method
FA-111) were
completed
on 30
g samples
from the intervals
in
the Meister/Marilyn
area that
returned elevated gold by
IMS-132.
Samples from the
Meister/Marilyn zone during the current work
program were representative chip
samples. Samples from the soil anomaly
area, and
historic samples described in this release, were grab samples
collected
from float,
subcrop or outcrop. The reader is cautioned that
grab
samples are designed to show the presence or absence of
mineralization, and results are not necessarily indicative of
average grade.
The technical
information in this news release has been prepared in accordance
with Canadian regulatory requirements as set out in National
Instrument 43-101 and has been reviewed and approved by Linda
Caron, P.Eng. Ms. Caron is independent of
Walcott.
ON BEHALF OF THE
BOARD OF DIRECTORS,
David
Thornley-Hall, CEO and Director
For further
information on the Company, please email requests to:
David@walcottresources.com
About Walcott
Resources Ltd.
Walcott is a
British Columbia based Company involved in the acquisition and
exploration of mineral properties in Canada and Australia. The
Company holds an option to acquire a 100% undivided interest,
subject to a 1.5% NSR on all base, rare earth elements and precious
metals, in the Cobalt Hill copper-gold-cobalt
property, consisting of eight mineral
claims covering an area of approximately 1,727.43 hectares located
in the Trail Creek Mining Division in the Province of British
Columbia, Canada. In addition, the Company has acquired 60% of two
silver assets in Australia - the Tyr Silver Project in northern New
South Wales and Century South Silver-Zinc Project in north-west
Queensland.
The CSE does not
accept responsibility for the adequacy or accuracy of this
release.
This press
release includes "forward-looking information" that is subject to a
number of assumptions, risks and uncertainties, many of which are
beyond the control of the Company. Forward-looking statements may
include but are not limited to, statements relating to the trading
of the Company's common shares on the Exchange and the Company's
use of proceeds and are subject to all of the risks and
uncertainties normally incident to such events. Investors are
cautioned that any such statements are not guarantees of future
events and that actual events or developments may differ materially
from those projected in the forward-looking statements. Such
forward-looking statements represent management's best judgment
based on information currently available.