Western Gold Announces Commencement of Drilling on Its Lagalochan Property
North Berwick, October 18, 2023 - Western Gold Exploration Ltd. (TSXV: WGLD) (the "Company") is pleased to announce it has commenced drilling on its Lagalochan Property, near Oban in Scotland.
The drilling programme will primarily test the skarn mineralisation on the western margins of the system that has never previously been drilled, extensions to the porphyry-stockwork zone at North Hill, and secondary porphyry targets to the west.
Several historic drill holes from surface to > 500m depth with low grade porphyry stockwork mineralisation encountered (e.g., hole LD13-01A , 537m @ 0.18% Cu, 0.1 g/t Au, 2.6 g/t Ag, 73 ppm Mo - see disclosure in the NI 43-101 Technical Report for the Lagalochan Property, as described below).
Skarn mineralisation is an important source of copper, lead, zinc and gold mineralisation worldwide and occurs where the porphyry intrudes into carbonate rocks. An outcrop in the area has indicated copper and gold mineralisation is present in skarns (with values up to 1m @ 29.4 g/t Au, 30.2 g/t Ag 0.11% Cu), encountered in rock chip sampling (see the Technical Report for the Lagalochan Property, as described below).
"This current drilling programme aims to assess the wider potential of the property outside of the known porphyry mineralisation at North Hill," commented Harry Dobson, Chairman. "Historical work and our own efforts in recent years provide indications that porphyry and porphyry related mineralisation could be more extensive than previously thought."
The Company expects to advance the Lagalochan Property exploration work in accordance with the Technical Report recommendations. Additional exploration of the Lorne Project may include Geophysics testing, including a joint IP/Mag. survey proposed to test the subsurface expression of mineralised bodies, identifying and prioritising potential target areas, site preparation and drilling.
About Western Gold Exploration
The Company is a mineral exploration company that is listed on the TSX Venture Exchange under the symbol "WGLD". The Company is focused on the exploration of mineral properties in Scotland and discovering new opportunities across the underexplored Caledonian Appalachian and identifying locations of gold and critical metal deposits. The Company's principal focus is its Lorne Project, which includes the Lagalochan copper gold porphyry property located in Argyll, Scotland (the "Lagalochan Property"), and the adjacent and nearby properties along the Lorne Fault Zone.
On 29 November 2022, the Company filed a National Instrument 43-101 - Standards of Disclosure for Mineral Projects compliant, independent Technical Report (the "Technical Report") on the Lagalochan Property. The Technical Report and additional information about the Company are available on SEDAR+ at www.sedarplus.ca under the Company's profile and on the Company's website: www.westerngoldexploration.com.
For further information, please contact:
Ross McLellan, CEO
Phone: +44 7779 161441
Email: info@westerngoldexploration.com
Website: www.westerngoldexploration.com
Review by Qualified Person, Quality Control and Reports
David Pym (CGeol), a consultant of the Company, is the Qualified Person (as defined by National Instrument 43-101) who supervised, verified and approved the scientific and technical disclosure in this press release on behalf of the Company. Verification included checking a proportion of the reported assays (excluding historical) in the Company database against the issued laboratory assay certificates. In addition, verification has included checking the location and orientation of the drill collars in the Company database against historic maps and reports.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to timing and completion of any drilling and work programs on the Company's properties, estimates of mineralisation from drilling, geological information projected from drilling results, potential for minerals and/or mineral resources, and statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to the future business activities and operating performance of the Company that may be described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, accuracy of assay results, geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services, future operating costs, and the historical basis for current estimates of potential quantities and grades of target zones, as well as those risk factors discussed or referred to in the Company's Management's Discussion and Analysis for the year ended December 31, 2022, and the period ended June 30, 2023 available at www.sedarplus.ca, many of which are beyond the control of the Company. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/184374