Intersects High-Grade AU-AG Veins in the
Jarbidge Rhyolite up to 250 Meters North-East of the Current Gravel
Creek Resource
Western Exploration Inc. (TSXV: WEX; OTCQX: WEXPF) (the
"Company" or "Western Exploration") is pleased to
announce initial results of its 2023 core drilling program, which
aimed to identify vein extensions in the Jarbidge rhyolite
north-east of the Gravel Creek resource area at the Company's
wholly-owned Aura gold-silver project (the "Aura
Project").
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the full release here:
https://www.businesswire.com/news/home/20231121272890/en/
Figure 1. Plan map showing location of
2023 drill holes relative to +3.0 g/t Au Gravel Creek resource
blocks. (Graphic: Business Wire)
Highlights from 2023 Drill Program:
- Two oriented core holes totaling 1,470 meters (see Figure
1) were completed to verify the existence of a mineralized
corridor trending northeast from the Gravel Creek deposit, as
outlined in a news release of the Company dated March 6, 2023,
entitled "Western Exploration Announces Additional Exploration
Results at Gravel Creek".
- Both holes WG456 and WG457 intersected multiple
quartz-pyrite-marcasite bearing veins, stockwork and hydrothermal
breccias within the targeted mineralized corridor.
- Hole WG456, located 250 meters north-east of the Gravel Creek
resource area, reported individual assays up to 34.9 g/t Au and
2800.0 g/t Ag, with key intercepts including:
- 4.7 meters of 9.20 g/t AuEq (4.55 g/t Au and 395.4 g/t Ag)
- 2.4 meters of 7.82 g/t AuEq (5.37 g/t Au and 208.1 g/t Ag)
- 2.0 meters of 21.96 g/t AuEq (12.77 g/t Au and 780.9 g/t
Ag)
- 2.1 meters of 7.56 g/t AuEq (5.40 g/t Au and 183.1 g/t Ag)
- 3.0 meters of 6.75 g/t AuEq (5.42 g/t Au and 113 g/t Ag)
- Gold-silver grades in WG456 occur at the same elevation as the
"productive horizon" in the Gravel Creek deposit and are comparable
in grade to those seen in multiple legacy intercepts.
- These results support further exploration drilling to the
north-east along a 2.0 kilometers trend of Au-As soil and rock
anomalies that parallel a N35E trending density anomaly.
- WG456 was abandoned at a depth of 730.6 meters due to drilling
complications, with the final 3.0 meters returning 5.42 g/t Au and
113 g/t Ag.
- Assays for hole WG457 are currently being finalized by ALS
Chemex.
Western Exploration CEO, Darcy Marud, commented: "Western
Exploration has long believed in the potential to greatly expand
resources within the Wood Gulch/Gravel Creek mineralized system,
and it is now become more evident that Wood Gulch and Gravel Creek
are part of a large Au-Ag bearing hydrothermal system over an area
of 10km2. The integration of structural surface alteration and
geochemical data generated by the 2023 core drilling program has
brought greater understanding of the controls on the high-grade
veins in the Jarbidge rhyolite overlying and peripheral to the
Gravel Creek deposit. Significant additional oriented core drilling
is justified to better define the vein trends and determine the
extent of the mineralized system to the north-east, with the
ultimate goal of expanding the project resource base."
Multiple High-Grade Au-Ag Vein Drill Intercepts in the
Jarbidge Rhyolite Above and Peripheral to the Gravel Creek
Deposit
Previous drilling, as reported in the Technical Report (as
defined herein), intersected multiple high-grade Au-Ag bearing vein
intercepts of up to 40.05 g/t Au and 1951.0 g/t Ag in
the Miocene Jarbidge volcanics overlying and lateral to the Gravel
Creek deposit. None of these Jarbidge-hosted intercepts have been
included in previous resource calculations, due to the uncertainty
of orientation.
Drill results for hole WG456, intersected 9 veins, stockwork or
hydrothermal breccias, which identified AuEq grades of over 3.0
g/t. Key intercepts are shown in Figure 2 and all +3.0 g/t
AuEq results are summarized in Table 1, with coordinates
shown in Table 2.
A preliminary review of oriented core data shows an array of
intersecting veins, stockwork and hydrothermal breccias following
north-west to north-east trends that mimic the known structural
controls on mineralization. Flow banded zones within the rhyolite
show strong preferential steeply dipping north-east trends, which
control the emplacement of certain veins and hydrothermal breccia
zones.
Table 1. Summary of +3.0 g/t AuEq intercepts in core hole WG456
testing the Jarbidge rhyolite north-east of the Gravel Creek
deposit.
START
END
Interval(1)
AuEq(2)
Au
Ag
HOLE(3)
(m)
(m)
(m)
(ppm)
(ppm)
(ppm)
WG456
469.7
470.1
0.3
5.21
1.90
282
WG456
479.4
479.7
0.3
4.91
4.70
17.8
WG456
544.5
549.3
4.7
9.20
4.55
395.4
with
546.4
548.2
1.8
20.05
9.77
874
or
546.4
546.7
0.3
67.84
34.9
2800
WG456
553.4
558.1
4.7
4.17
2.24
163.3
with
553.4
555.4
1.9
6.41
3.82
219.9
or
553.4
553.9
0.5
10.66
4.34
537
WG456
569.3
570.2
0.9
4.19
2.87
112
WG456
625.6
629.1
3.5
6.64
4.59
174.6
with
625.6
628
2.4
7.82
5.37
208.1
WG456
631.1
633.1
2.0
21.96
12.77
780.9
with
631.1
632.2
1.0
31.95
19.60
1050
WG456
683.9
686
2.1
7.56
5.40
183.1
with
685.6
686
0.4
26.03
18.85
610
WG456
727.60
730.60
3.00
6.75
5.42
113.0
Notes:
(1)
Intervals are calculated with minimum
grades of 3.0 g/t AuEq. True widths are estimated at 30-90% of
drill intervals.
(2)
Assays are uncut and as received. AuEq
calculated at a ratio of 85:1 of Ag:Au.
(3)
WG456 terminated in mineralization due to
drilling issues.
Table 2. Collar coordinates for Gravel Creek holes referenced in
this press release.
Hole ID
East
North
Elev
Azimuth
Dip
Depth (m)
WG456
587,298
4,616,507
2,185
186.3
48.1
727.3
WG457
587,178
4,616,351
2,198
180.0
62.1
743.0
Results Support Further Exploration Drilling Along North-East
Trend.
Results from drill hole WG456, in combination with 2020 core
hole WG450, identified multiple drill intercepts with significant
Au-Ag grades in a zone 200 meters wide near the north-east limit of
current drilling area (see Figure 3). This provides
additional support for exploration potential associated with the
strong multi-element soil anomaly and coincident density anomaly
extending from Wood Gulch through Gravel Creek and continuing 2.0
kilometers to the north-east of the Gravel Creek deposit (see
Figure 4).
ABOUT THE AURA PROJECT
In addition to an established mineral resource estimate outlined
in the Technical Report, the Aura Project has well established
infrastructure, including year-round accessibility by highway and
county-maintained road, with nearby access to water and electricity
(see Figure 5). Western Exploration has exploration,
development, and mining rights on 930 hectares of privately owned
fee lands through a mineral lease agreement with a local landowner
and may purchase those fee lands at any time for the development of
Doby George.
The 6,000-hectare Aura Project is unique in the junior mining
space, as resources have been identified in three different
deposits (Doby George, Gravel Creek and Wood Gulch), as supported
by the Technical Report (see Table 3 below).
Table 3. Updated mineral resource estimate for the Aura Project
as contained in the Technical Report
MINERAL RESOURCE
ESTIMATE(1)
Indicated
Inferred
Tonnes
Au (g/t)
Au (ozs)
Ag (g/t)
Ag (ozs)
AuEq (g/t)
AuEq (oz.)
Tonnes
Au (g/t)
Au (ozs)
Ag (g/t)
Ag (ozs)
AuEq (g/t)
AuEq (oz.)
Doby George(2)
12,922,000
0.98
407,000
-
-
0.98
407,000
4,999,000
0.73
118,000
-
-
0.73
118,000
Wood Gulch(3)
-
-
-
-
-
-
-
4,359,000
0.66
93,000
5.80
808,000
0.74
104,543
Gravel Creek(4)
1,315,000
4.73
200,000
75.0
3,169,000
5.81
245,271
2,744,000
4.16
367,000
60.20
5,307,000
5.02
442,814
TOTAL
14,237,000
1.33
607,000
75.0
3,169,000
1.43
652,271
12,102,000
1.48
578,000
15.74
6,115,000
1.71
665,357
Notes:
(1)
Au equivalent oz assumes US$1,800 per oz
Au and 70:1 ratio of Ag:Au.
(2)
Pit constrained 0.2 g/t AuEq cutoff for
oxide, 0.4 g/t Au cutoff for mixed and 1.4 g/t Au cutoff for
unoxidized.
(3)
Pit constrained 0.2 g/t AuEq cutoff.
(4)
3.0 g/t Au cutoff.
The mineral resource estimate for the Aura project is disclosed
in the Company's technical report, prepared in accordance with
National Instrument 43-101 – Standards of Disclosure for Mineral
Projects ("NI 43-101"), entitled "2021 Updated Resource
Estimates and Technical Report for the Aura Gold-Silver Project,
Elko County, Nevada" dated October 20, 2021 (with an effective date
of October 14, 2021) that was prepared for the Company by Mine
Development Associates (the "Technical Report").
About Western Exploration
Born from a 25-year history of advancing exploration projects in
Nevada as a private company, today Western Exploration is composed
of an experienced team of precious metals experts that aims to lead
Western Exploration to becoming a premiere gold and silver
development company in North America. The Company's principal asset
is the 100% owned Aura gold-silver project, located approximately
120 kilometers/75 miles north of the city of Elko, Nevada, and
includes three unique gold and silver deposits: Doby George, Gravel
Creek, and Wood Gulch. Additional information regarding Western
Exploration and the Aura Project can be found on the Company's
website and on SEDAR+ (www.sedarplus.ca) under the Company's issuer
profile.
Qualified Person Approval
The scientific and technical content in this news release has
been reviewed and approved by Mark Hawksworth, General Manager of
the Aura Project, and a "qualified person" within the meaning of NI
43-101.
Quality Assurance – Quality Control
Drill program design, Quality Assurance/Quality Control
("QA/QC") and the interpretation of results is performed by
qualified persons employing a QA/QC program consistent with NI
43-101 and industry best practices.
Drill core samples were delivered by Major Drilling to Western
Exploration's secure warehouse/logging facility in Mountain City
and washed, photographed and logged by company geologists. Sample
intervals were marked and recorded. Quality Control (QC) samples
were inserted at regular intervals in the sample stream with all
sample shipments, including blanks, core duplicates and reference
materials, to monitor laboratory performance.
Drill core samples were transported by Neilsen Exploration to
ALS Chemex located in Sparks, Nevada, for sample preparation and
analysis. Core was sawed at the ALS Chemex facility, with half of
the core being prepared for assay and the other half of the core
being preserved and returned to Western Exploration's Mountain City
facility. Samples were analyzed for gold using ALS Chemex's fire
assay procedure Au-AA13, with over limits being analyzed by
Au-GRA21. Samples were analyzed for silver and a 40-element suite
using ALS Chemex procedure ME-ICP41, with over limits being
analyzed by Ag-GRA21.
Please see below under the heading "Cautionary Note Regarding
Forward-Looking Information" for further details regarding the
risks facing Western Exploration.
For additional information on the Aura Project, please see the
Technical Report, which has been prepared in accordance with the
requirements of NI 43-101, a copy of which is available on SEDAR+
(www.sedarplus.ca) under Western Exploration's issuer profile and
on Western Exploration's corporate website
(www.westernexploration.com).
Cautionary Statements Regarding Estimates of Mineral
Resources
This news release uses the terms measured, indicated and
inferred mineral resources as a relative measure of the level of
confidence in the resource estimate. Readers are cautioned that
mineral resources are not mineral reserves and that the economic
viability of resources that are not mineral reserves has not been
demonstrated. The mineral resource estimate disclosed in this news
release may be materially affected by geology, environmental,
permitting, legal, title, socio-political, marketing or other
relevant issues. The mineral resource estimate is classified in
accordance with the Canadian Institute of Mining, Metallurgy and
Petroleum's "CIM Definition Standards on Mineral Resources and
Mineral Reserves" (CIM) incorporated by reference into NI 43-101.
Under NI 43-101, estimates of inferred mineral resources may not
form the basis of feasibility or pre-feasibility studies or
economic studies except for preliminary economic assessments.
Readers are cautioned not to assume that further work on the stated
resources will lead to mineral reserves that can be mined
economically.
Inferred mineral resources have a great amount of uncertainty as
to their existence and as to whether they can be mined legally or
economically. On October 31, 2018, the SEC adopted new mining
disclosure rules ("S-K 1300") that are more closely aligned
with current industry and global regulatory practices and
standards, including NI 43-101, although there are some differences
in the two standards. Accordingly, information concerning mineral
deposits contain in this release may not be comparable with
information made public by U.S. companies that report in accordance
with S-K 1300.
Cautionary Note Regarding Forward-Looking Information
This news release may contain "forward-looking information" and
"forward-looking statements" within the meaning of the applicable
Canadian and United States securities legislation (collectively,
"forward-looking statements"). These forward-looking
statements, by their nature, require the Company to make certain
assumptions and involve known and unknown risks and uncertainties
that could cause actual results to differ materially from those
expressed or implied in such forward-looking statements. Any
statement that involves predictions, expectations, interpretations,
beliefs, plans, projections, objectives, assumptions, future events
or performance (often, but not always, using phrases such as
"expects", or "does not expect", "is expected", "interpreted",
"management's view", "anticipates" or "does not anticipate",
"plans", "budget", "scheduled", "forecasts", "estimates",
"potential", "feasibility", "believes" or "intends" or variations
of such words and phrases or stating that certain actions, events
or results "may" or "could", "would", "might" or "will" be taken to
occur or be achieved) are not statements of historical fact and may
be forward-looking information and are intended to identify
forward-looking information. This news release contains the
forward-looking information pertaining to, among other things: the
significance of the results of the 2023 drill program; the accuracy
of results from prior exploration activities conducted at the Aura
Project; the key assumptions, parameters and methods used to
estimate the mineral resource estimate disclosed in this news
release; the prospects, if any, of the Doby George, Wood Gulch and
Gravel Creek mineral deposits; the potential to greatly expand
resources within the Wood Gulch/Gravel Creek mineralized system;
future drilling at the Aura Project; the significance of historic
exploration activities and results; the ability to expand the
existing mineral resources at the Aura Project. Such factors
include, among others, risks relating to the ability of exploration
activities (including drill results) to accurately predict
mineralization; errors in management's geological modelling; the
ability of Western Exploration to complete further exploration
activities, including drilling; property and royalty interests in
respect of the Aura Project; the ability of the Company to obtain
required approvals; the results of exploration activities; risks
relating to mining activities; the global economic climate; metal
prices; dilution; environmental risks; and community and
non-governmental actions. Although the forward-looking information
contained in this news release is based upon what management
believes, or believed at the time, to be reasonable assumptions,
Western Exploration cannot assure shareholders and prospective
purchasers of securities of the Company that actual results will be
consistent with such forward-looking information, as there may be
other factors that cause results not to be as anticipated,
estimated or intended, and neither Western Exploration nor any
other person assumes responsibility for the accuracy and
completeness of any such forward-looking information. Western
Exploration does not undertake, and assumes no obligation, to
update or revise any such forward-looking statements or
forward-looking information contained herein to reflect new events
or circumstances, except as may be required by law.
For additional information with respect to these and other
factors and assumptions underlying the forward‐looking statements
and forward-looking information made in this news release
concerning Western Exploration, see the management information
circular dated November 12, 2021, available electronically under
Western Exploration's issuer profile on SEDAR (www.sedar.com). The
forward-looking statements set forth herein concerning Western
Exploration reflect management's expectations as at the date of
this news release and are subject to change after such date.
Western Exploration disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, other than as required
by law.
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 news release. No stock exchange, securities
commission or other regulatory authority has approved or
disapproved the information contained herein.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231121272890/en/
Darcy Marud Chief Executive Officer Telephone: (775) 329-8119
Email: dmarud@westernexploration.com
Nichole Cowles Investor Relations Telephone: 775-240-4172 Email:
nicholecowles@westernexploration.com
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