West Kirkland Mining Inc. (TSX-V:WKM) is pleased to report further good gold assay results from the Gold Mountain target near the Company’s Hasbrouck Gold Project Reserves in Nevada.
New assay results from West Kirkland mapping and continuous surface sampling include 140 feet (43m) with an average of 3.40 g/t gold and 100 feet (30 m) with an average of 3.67 g/t on the west part of Gold Mountain. Additional gold values are shown in the table below. The true thickness is yet to be determined. It does not appear that these areas have been effectively tested by previous drilling.
Results reported here are from the first batch of 326 samples from a total 876 continuous 20 foot chip samples taken by the Company in the recent program. Results are anticipated on the remaining 550 samples within 2 weeks.
The WKM surface sampling and mapping program outlines clear drill targets aimed at adding at-surface ounces close to the Company’s current heap leach Reserves. Given Hasbrouck’s strong project economics – 43% IRR and US$120m Net Present Value – even a modest addition of ounces at surface within easy trucking distance that can be added to the planned heap leach pads could make a significant positive impact.
The next step for this area is to open up road access as a precursor to drilling shallow, inexpensive holes collaring in the newly-identified gold mineralization zones. WKM will next perform additional infill sampling and surface map new access roads for detailed target delineation prior to drilling.
Surface Samples | Length | Gold (g/t) | Location | Orientation |
WP-04A | 140’ | 3.40 | West Peak (7 samples) | Perpendicular to strike |
WP-02 | 100’ | 3.67 | West Peak (5 Samples) | Perpendicular to strike |
SR-04 (North) | 240’ | 0.87 | Sealey Ridge (12 samples | Perpendicular to strike |
SR-04 (South) | 160’ | 0.85 | South Adit (8 samples) | Parallel to strike |
TOTAL | 640’ | Avg: 1.86 | 32 samples |
The exploration at Gold Mountain (100% Option Interest) is within sight of the Hasbrouck Project (75% WKM, 25% Waterton Fund).
The Hasbrouck Gold Project contains 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 ($1,275/oz Au) estimated at $120M, 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).
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/2f5305d5-03c2-4690-a07a-220e0cd1b8bd
http://www.globenewswire.com/NewsRoom/AttachmentNg/7db5acdb-7383-4806-8928-775a2f0b3bc3
QUALIFIED PERSON
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.
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