West Kirkland Mining Inc. (TSX-V:WKM) (“West Kirkland”, “WKM” or
the “Company”) is pleased to provide an update on current
exploration work at the Hasbrouck Gold Project, Nevada. New WKM
sampling has been completed involving 325 surface samples and 6,500
feet of exposed continuous chip samples, with assays pending. The
sampling was targeted to extend historic gold values which were
better than Hasbrouck grades over a distance of 1,608 feet at
surface. (See table below)
Ongoing exploration work is directed at
identifying and testing targets at or near surface with the
potential for increasing the company’s existing gold Resources and
Reserves within trucking distance of the Company’s planned and
permitted heap leach facilities at the Three Hills and Hasbrouck
Mines. The September 14, 2016 Updated Preliminary Feasibility
Study (“PFS”) for The Hasbrouck and Three Hills Gold-Silver Project
estimates Proven & Probable Reserves of 784,000 gold equivalent
oz, (45,270,000 tons at 0.017 Au oz/ton for 762,000 contained Au
oz; 0.233 Ag oz/ton for 10,569,000 contained Ag ounces – gold
equivalent ounces derived from metal prices of 18.21 for silver and
$1,275 for gold, and recoveries of 75.7% for gold and 11% for
silver).
“We are very excited about the potential for new
at-surface gold zones within sight of our Reserves that could be
processed at the facilities we have designed and permitted for the
Hasbrouck Gold Project,” said Sandy McVey COO of West Kirkland
Mining.
GOLD MOUNTAIN TARGET AREA
An extensive mapping and sampling program is in
progress by WKM where surface gold values have been found in
historic road-cut sampling and drill holes. Surface investigations
are currently focused on Gold Mountain, 1.6 km east of the
Hasbrouck deposit. The new sampling has identified well-altered and
silicified beds above or below the sampled
road-cuts.Photos accompanying this announcement are
available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/86f07c98-3ae5-43c8-b9ac-b38f5c9413c1
http://www.globenewswire.com/NewsRoom/AttachmentNg/aef3a6cc-dfbf-45a6-91d3-50d539579f13
Mapping by WKM has found previously unrecorded
and unsampled sub-horizontal zones of strong silicification in the
Siebert volcanic formation, which is the host of the Hasbrouck
deposit. Previous flat-driven road-cuts sampled during
previous work have provided continuous chip gold samples as shown
on the map and table below. WKM is working to expand these
zones:
Historic Road-cut Continuous 20-foot Chip Sample
Sections
|
|
|
|
|
Surface Samples |
Length |
Gold (g/t) |
Silver (g/t) |
Location |
Road-cut 1 |
441’ |
0.87 |
2.4 |
NE Side (26 samples) |
Road-cut 2 |
917’ |
0.65 |
13.2 |
SW Side (47 samples) |
Road-cut 3 |
250’ |
0.68 |
22.5 |
East-High (16 samples) |
TOTAL |
1608’ |
Avg: 0.717 |
Avg: 11.7 |
89 samples |
|
|
|
|
|
A map accompanying this announcement is available
at http://www.globenewswire.com/NewsRoom/AttachmentNg/53f260a5-867e-4974-a7c3-70a7e44e79c8
Historic drilling has provided some indication
of the potential thickness of the flat zones that WKM is working to
expand with further sampling:
Historic Drill Holes in the Area of the
Sub-horizontal Road-cut Targets
|
|
|
|
|
Drill Hole |
Interval (ft) |
Below Collar (ft) |
Gold (g/t) |
Silver (g/t) |
DR-1 95 |
225 |
45 |
1.10 |
5.2 |
DR-2 95 |
60 |
60 |
0.86 |
10.5 |
DR-3 95 |
55 |
Surface |
0.85 |
10.3 |
GM-9-90 |
25 |
30 |
0.41 |
3.1 |
DR-4 95 |
20 |
25 |
1.19 |
7.6 |
GM-10-90 |
15 |
50 |
0.44 |
2.1 |
F-1309-80 |
90 |
120 |
1.49 |
5.2 |
F-1313 80 |
30 |
80 |
0.31 |
0.8 |
F-1312 80 |
20 |
5 |
0.39 |
9.3 |
GM-11-90 |
45 |
165 |
0.95 |
2.6 |
|
|
|
|
|
PERMITTING UPDATE
The Company is pleased to report the submission
to the Bureau of Land Management (BLM) in late 2017 of a Plan of
Operation for the Hasbrouck Mine, being the second phase of the
project. The company has responded to BLM comments which were brief
and manageable, and the BLM is now finalizing their review of the
Plan. The Company believes it probable that the BLM will decide to
permit the Hasbrouck Mine under the relatively straight-forward
Environmental Assessment (EA) as they did at the Three Hills Mine
rather than under the lengthier Environmental Impact Statement
(EIS). The EA process would be approximately 2 years shorter and
would cost approximately US$2m less than the EIS process that had
been assumed in the 2016 Pre-feasibility Study. Definitive feedback
from the BLM on the Hasbrouck Mine permitting path is expected
within the next 30 days. Hasbrouck Mine permitting is not on
the project’s critical path since the earlier pit at Three Hills
Mine is already fully permitted.
FIRST PHASE REGIONAL DRILL
TESTING
The company completed 10 reverse circulation
holes for a total of 4,000 feet as a first test of targets from
earlier work in areas not in the area of the current surface work.
Gold values were found in all the targeted structures but not in
thicknesses attractive for open pit near-surface resources. The
company remains focussed on near-term open pit resources to add to
the profile quickly for the Hasbrouck Project.
NEXT STEPS
The current mapping and sampling program
combined with a 3D model of all of the previous work is planned to
generate detailed targets for short drill holes where gold values
start at or very near surface. The budget and scale of this
program will be developed as sampling results from the recent WKM
surface work becomes available in the weeks ahead.
ABOUT THE HASBROUCK GOLD PROJECT AND
WEST KIRKLAND
Over the past twelve months, West Kirkland has
progressively acquired a 100% interest in an additional 3,700 acres
of prospective land lying between the original two deposits forming
the Hasbrouck Gold Project. Drilling results and new targets
reported herein are on this newly-acquired land.
The original Hasbrouck Gold Project consists of
two gold-silver deposits eight km apart, near the Town of Tonopah
in southern Nevada. Both deposits are planned to be open-pit
mined at 1:1 stripping ratios with minimal pre-stripping and with
76% gold recovery from the oxide ore by heap leaching. There are no
known technical, environmental, economic or social obstacles that
would prevent the company from proceeding to construction on the
first part of the Hasbrouck Project, being the Three Hills Mine.
Work on permitting the second part of the project, being the
Hasbrouck Mine, is well-advanced.
The Hasbrouck Gold Project is estimated to
contain Proven & Probable Reserves of 784,000 gold equivalent
oz, (45,270,000 tons at 0.017 Au oz/t for 762,000 contained Au oz;
0.233 Ag oz/t for 10,569,000 contained Ag ounces), NPV5 Post Tax
(US$1,275/oz Au) estimated at US$120 million, IRR 43% (Technical
Report and Updated Preliminary Feasibility Study for The Hasbrouck
and Three Hills Gold-Silver Project, Esmeralda County, Nevada, USA,
Report Date: September 14, 2016). Waterton Precious Metals Fund II
Cayman, LP holds a 25% interest in the Hasbrouck Gold Project and
is participating in project expenditures. The first pit is fully
permitted and permitting the second pit is ongoing.
QUALIFIED PERSON
R. Michael Jones P.Eng, CEO of West Kirkland
Mining, is a non-independent Qualified Person as defined by NI
43-101. He has reviewed the information contained in this news
release and has verified the data by hiring qualified geologists
and engineers and has completed a review of the detailed technical
information. Mineral Reserve information in this news release
relating to the Hasbrouck Gold Project has been developed and
approved by Thomas L. Dyer, P.E., of MDA following CIM
standards.
QUALITY ASSURANCE/QUALITY
CONTROL
West Kirkland Mining utilizes a well-documented
system of inserting blanks and standards into the assay stream and
has a strict chain of custody for samples taken by WKM.
Assays by WKM are completed at independent laboratories which have
internal quality assurance and quality control systems and
procedures. Assays were performed by ALS Chemex Labs Ltd., by
fire assay and ICP methods.
The historic work was completed by previous
property explorers and developers and provided to WKM in digital
form in an extensive database. The surface assays on road-cuts and
grab samples were performed at ALS labs by standard fire assays
with ICP finish methods. Drill hole assay data for the 1995 and
1990 programs were completed at Barringer labs, GSI labs, and labs
respectively with fire assay methods and ICP or AA finish.
The 1980 holes do not have assay lab data available, but the
values were part of historic production mine work at the time and
are consistent with the ALS surface data nearby. Although the
work was completed prior to NI-43101 and was not under WKM control
and chain of custody, the work was completed by qualified
professional geologists and laboratories utilizing standard
methods. The results of various dates and operators provide
similar results to the surface sample assay work by ALS labs.
For the purpose of general exploration target generation, the
Non-Independent QP has reviewed the data in detail and has accepted
it as verified for general indicative exploration targeting. The
data was verified by ensuring a reasonable mineralization type and
assay tenor comparison, in the same area, between multiple project
exploration companies and labs, along with a review and acceptance
of the quality of the work reported. Further confirmation
assays under WKM procedures would be required for this data to be
used in Resource calculations. On behalf of West Kirkland
Mining Inc. “R. Michael Jones” Chief Executive Officer For further
information, please see the Company’s website at www.wkmining.com
or contact us by email at info@wkmining.com.
Disclaimer for Forward-Looking
Information
This press release contains forward-looking
information or forward-looking statements (collectively
"forward-looking information") within the meaning of applicable
securities laws. Forward-looking information is typically
identified by words such as: “believe”, “expect”, “anticipate”,
“intend”, “estimate”, “postulate” and similar expressions, or are
those, which, by their nature, refer to future events.
Forward-looking information in this news release includes,
without limitation, the exploration and project approach of a
Prefeasibility Study. Historical mineral title also has risk
of an unrecorded claim. The Company cautions investors that any
forward-looking information provided by the Company is not a
guarantee of future results or performance, and that actual results
may differ materially from those in forward-looking information as
a result of various factors, including, but not limited to, the
state of the financial markets for the Company's equity securities,
the state of the market for gold or other minerals that may be
produced generally, variations in the nature, quality and quantity
of any mineral deposits that may be located, the Company's ability
to obtain any necessary permits, consents or authorizations
required for its activities, to raise the necessary capital or to
be fully able to implement its business strategies and other risks
associated with the exploration and development of mineral
properties. The reader is referred to the Company's public
filings for a more complete discussion of such risk factors and
their potential effects which may be accessed through the Company's
profile on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
West Kirkland Mining (TSXV:WKM)
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West Kirkland Mining (TSXV:WKM)
過去 株価チャート
から 12 2023 まで 12 2024