WestKam Reports on Winter Phase at Bonaparte
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 30, 2016) - WestKam Gold Corp. (TSX VENTURE:WKG) (the "Company" or "WestKam") WestKam Gold Corp. announced today that the bulk sample program at the Bonaparte Gold Project, managed and conducted by MX Gold Corp. until December 31, 2016, is continuing. MX Gold is incurring a minimum $650,000 in exploration expenditures at Bonaparte by December 31, 2016, to earn a 5% interest in the property (as announced December 28, 2016 and with an effective date of December 16, 2016).
The current position of the decline is at 229.76m, approximately 118.1m from the Bulk Sample target zone. The Bulk Sample target zone encompasses the Grey Jay, Crow, Owl and Nutcracker vein structures which occur over a combined width of approximately 20 metres and are partially located beneath the flooded pits resulting from the 1994 and 2010 bulk sample programs. The structures hosting the aforementioned veins trend near north-south from 023° to 034° azimuth with easterly trending dips from 45° to 55° east. It is estimated that the Bulk Sample zone will be reached in approximately eight weeks once underground operations resume.
Raven Vein
The current face of the underground decline has crosscut the down dip extension of the Raven Vein structure at or before its targeted intersection. The Raven vein structure consists of two widely spaced vein sets. The first quartz vein intersected in the decline trends at 033° dipping 38° to the east. The exposed quartz vein is 0.5m wide hosting 1-2% pyrite. Chlorite, quartz carbonate alteration envelopes are noted on the footwall and hangingwall sides of the vein over widths of 0.3m and 0.5m respectively. The Raven vein proper was intersected a further 7m down the decline to the west. Its orientation varies from 005°-35° to 035°-45°. The bull quartz vein is 0.5m thick hosting disseminated pyrite mineralization from 3%-5%. Chlorite, biotite, pyrite alteration zones are noted on the footwall and hangingwall sides of the vein over widths varying from 0.3m to 1.0m. Elevated pyrite is well noted in both the hanging wall and footwall alteration zones as disseminations and blebs from 20% to 30% pyrite. Approximately 1.5m east on the hanging wall side of the Raven Vein is an interval of strong quartz carbonate and chlorite +/- biotite alteration varying from 0.3m to 0.5m wide hosting 20% to 30% disseminated Pyrite.
The portal entrance was initially developed on the Raven vein during the initial phase of the underground bulk sampling program in December 2009. The Vein was first encountered 12.07m down the decline from the portal entrance which continued in a southerly direction along the decline to a point where the vein changed strike direction to 230° azimuth, after which the decline heading turned to the east. The Raven vein near the portal entrance dips from 40° to 45° east and was traced along strike down the decline over a distance of 41.24m; 23 panel sample results from the vein reported from the original sampling program returned an average grade of 12.6g/t gold over a distance of 38.2m. Individual panel samples from the vein report grades varying from 0.74g/t Au over 0.83m to 69.2g/t Au over 1.26m. The Raven vein varies in width along strike from 0.3m to 1.26m hosting scattered irregular clusters of semi massive sulphides comprising pyrite, pyrrhotite and chalcopyrite.
Grey Jay Zone
The Grey Jay zone is the most westerly vein structure. The Grey Jay vein strikes 23° and dips 45° to the east. Based on a combination of surface channel and panel samples, the average grade and true width of the structure over a 55m strike length was 29gm/t gold over 0.95m. Exploration to date has extended the Grey Jay vein system over a strike length of 126m to a depth of 46m. The average width of the zone is 1.1m open to the south. Of interest are the results from DDH89-6 which intersected 321gm/t gold over a true width of 0.56m located an estimated 9m down dip below the current open pit.
Crow Vein System
The Crow vein system is located approximately 20m to the east of the Grey Jay structure. Trench and drill data suggests the Crow vein system consists of three discreet segments, i.e. Crow North, Central and South. The overall strike length of the Crow Vein as defined by surface trenching and drilling is approximately 315m. The structure has been tested to a depth of 50m with indicated widths from 1.0m to 1.3m. The Crow North vein is located at the north end of the open pit, east of the Grey Jay vein. The structure strikes 34° dipping 55° to the east. Trenching shows the average true width to be 1.15m. Drilling has intersected the vein at depth returning up to 70.6g/t gold over a core interval of 0.35m (DDH94-12). The Central Crow vein has been well explored by historical trenching and drilling. The Central Crow segment was exposed over a strike length of 70m and tested to a depth of 55m; this segment strikes at 012° dipping 55° to the east. Best results reported from drilling returned up to 115.27g/t gold over 1.07m (DDH86-13). The South Crow structure is separated from the Central Crow by a major fault which displaces the South section approximately 10m to the west. The south zone strikes 027° dipping 55° to the east. Historical drilling has extended this segment over a strike length of approximately 110m, and widths vary from 0.8m to 1.6m. Best results from drilling are reported from DDH98-1 intersecting 11.3g/t gold over 4.0m true width at a vertical depth of 40m below surface.
Owl Vein
The Owl vein is located at the north end of the of the open pit and lies between the Grey Jay and Crow North veins trending at 032° azimuth dipping 50° to the east. Historical trenching and drilling indicate a minimum strike length of approximately 100m which has been tested to a depth of 36m. Drilling suggests the vein widens with depth. The best drill hole intercept from DDH89-8 returned 14.04g/t gold over an estimated true width of 2.3m.
Nutcracker Vein
The Nutcracker vein was bulk sampled from a separate pit at the north end and to the east of the Crow vein structure. To the south, the Nutcracker vein merges with the Central Crow vein. Trenching on the Nutcracker exposed the vein over a strike length of 105m where the average true width of the vein on surface is 0.35m. The vein strikes 027° and dips 48° east. The average grade of the vein, based on 25 surface trench samples, is 50.4g/t gold. The drill indicated strike length of the vein is 110m based on 24 drill hole intercepts. Best drill hole results vary from 11.15gm/t gold over 1.04m (DDH86-18) to 58.25gm/t gold over 0.09m (DDH87-17).
To view "Diagram of Bonaparte Decline Progress to Date" associated with this news release, please visit the following link: http://media3.marketwire.com/docs/1081578.pdf
Technical information in this news release has been reviewed by R. Kemp P.Geo., a qualified person as that term is defined in NI 43-101.
About WestKam Gold Corp.
WestKam is a Canadian gold exploration company focused on developing the Bonaparte Gold Project near Kamloops, British Columbia. Additional information can be found on the Company's website at www.westkamgold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Matt Wayrynen, President
Suite 900, 570 Granville Street
Vancouver, BC V6C 3P1
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. In particular, this news release contains forward-looking information regarding the Offering and the use of proceeds of the Offering. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. These assumptions include, but are not limited to: TSXV acceptance of the Offering; future costs and expenses being based on historical costs and expenses, adjusted for inflation; and market demand for, and market acceptance of, the Offering. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
Contact
John Ulmer
Investor Relations
778.994.6453
www.westkamgold.com