West Kirkland Continues Exploration Drilling at Hasbrouck Project After Initial Results Show Potential for Resource Expansion
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 22, 2014) - West Kirkland Mining Inc. (TSX VENTURE:WKM) announces today the commencement of a 1,400 meter RC exploration drilling program at its Hasbrouck Project in Esmeralda County, Nevada.
The program is designed to follow up on the successes of the first phase of drilling announced Sept 9, 2014. Previously disclosed highlights of that drilling include TH14R-004 which cut 50.29 meters of 0.73 grams per tonne (g/t) gold (Au) at Three Hills, as well as the discovery of near surface mineralization at the Hasbrouck deposit. The second phase of exploration will focus on adding near-pit resources at both deposits.
Five holes totaling 700 meters will be drilled at Three Hills. Three holes will target shallow portions of a key structural intersection. Previous holes into this target area have returned significant results including 50.29 meters of 0.73 g/t Au and 66.0 meters grading 3.33 g/t Au. Two holes will be drilled at a second target at Three Hills where a similar structural intersection has been noted 150 meters to the south. Drilling in the area by a previous owner cut 21.34 meters of 0.83 g/t Au.
Four holes totaling 700 meters will be drilled on the underexplored northeast flank of Hasbrouck Peak. Drilling at this location in August 2014 returned 0.66 g/t Au over 4.57 meters at shallow depths and within 100 meters of the conceptual pit rim. Planned holes will target mineralized structures in thicker portions of the favourable stratigraphy.
About the WKM Hasbrouck Project
The Hasbrouck Project consists of two oxidized gold-silver deposits located eight kilometers from each other with a combined measured and indicated mineral resource of 1,279,000 ounces AuEq (78.2 million tons at 0.016 opt AuEq) and 761,000 ounces AuEq inferred (69.9 million tons at 0.011 opt AuEq) using a cutoff of 0.005 opt AuEq. (AuEq calculated AuEq=Au+(Ag/57.14); Scott E. Wilson, Feb 21, 2014; please refer to the Company's February 24, 2014 news release.)*
Both deposits have at-surface and near-surface mineralization with the potential for open pit mining at low overall stripping ratios and with minimal pre-stripping.
West Kirkland's independent consultants, Mine Development Associates, are on track to complete a prefeasibility study on the project by the first quarter of 2015. Work on obtaining construction permits for the Three Hills deposit is well advanced with submission of a plan of operation to the Bureau of Land Management (BLM) targeted for Q4, 2014.
Qualified Persons
* Resource estimates were disclosed in a Technical Report dated February 21, 2014 titled "Technical Report for the Hasbrouck Project Esmeralda County, Nevada, USA, West Kirkland Mining Inc." authored by Scott E. Wilson, C.P.G., and filed under the Company profile on SEDAR at www.sedar.com. Mr. Scott E. Wilson, AIPG Certified Professional Geologist, is WKM's independent Qualified Person as defined under NI 43-101. Mr. Wilson has reviewed and verified the data disclosed to be in conformity with generally accepted CIM "Estimation of Mineral Resource and Mineral Reserves Best Practices" guidelines and in accordance with NI 43-101.
Michael G. Allen, Vice President of Exploration for West Kirkland, and a non-independent Qualified Person as defined by NI 43-101, has reviewed the information contained in this news release and has verified the data.
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. Assays are completed at independent labs, which also have internal quality assurance and quality control mechanisms. Assays were performed by ALS Chemex Labs Ltd., by fire assay and ICP methods.
About West Kirkland Mining Inc.
West Kirkland was formed in 2010 to focus on gold exploration along major geological trends in North America. The Company has consolidated significant mineral rights positions within the known gold trends of Nevada and Utah, including the recently acquired the Hasbrouck and Three Hills properties in southwestern Nevada. The founders and Board members of West Kirkland have successful experience in gold discovery, mine development and mine operations in Nevada and other gold producing jurisdictions in North America.
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 completion of the Prefeasibility Study, the project approach of the Prefeasibility Study and exploration and all information under the heading "Prefeasibility Study Detail", including the Prefeasibility Study budget. Although West Kirkland believes that such timing and expenses as set out in this press release are reasonable, it can give no assurance that such expectations and estimates will prove to be correct. 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.
Cautionary Note to U.S. Investors Regarding the Use of Mining Terms
This press release has been prepared in accordance with the securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all resource and reserve estimates included in this press release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian standards, including NI 43-101, differ significantly from the requirements of the U.S. Securities and Exchange Commission (the "SEC"), and resource and reserve information contained therein may not be comparable to similar information disclosed by U.S. companies. In particular, and without limiting the generality of the foregoing, the term "resource" does not equate to the term "reserves". Under U.S. standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. The SEC's disclosure standards normally do not permit the inclusion of information concerning "measured mineral resources", "indicated mineral resources" or "inferred mineral resources" or other descriptions of the amount of mineralization in mineral deposits that do not constitute "reserves" by U.S. standards in documents filed with the SEC.
U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. U.S. investors should also understand that "inferred mineral resources" have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an "inferred mineral resource" will ever be upgraded to a higher category. Under Canadian rules, estimated "inferred mineral resources" may not form the basis of feasibility or pre-feasibility studies except in rare cases. Investors are cautioned not to assume that all or any part of an "inferred mineral resource" exists or is economically or legally mineable. Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in-place tonnage and grade without reference to unit measures. The requirements of NI 43-101 for identification of "reserves" are also not the same as those of the SEC, and reserves reported by the Company in compliance with NI 43-101 may not qualify as "reserves" under SEC standards. In addition, under SEC standards, a company may only be identified as "development" stage if it has established "reserves" by SEC standards and is engaged in the preparation of such reserves for extraction. Accordingly, information concerning mineral deposits set forth in this press release may not be comparable with information made public by companies that report in accordance with U.S. standards.
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.