Westmount Receives Soil Sampling Results-Douay East Property
Vancouver, September 27, 2022 - Westmount Minerals Corp. (CSE: WMC) ("Westmount" or the "Company") is pleased to announce having received the data and interpretation report from its Soil Gas Hydrocarbon ("SGH") survey completed on the Douay East property (the "Property") located in the Abitibi region of western Quebec. Highlights of the results include:
- Three target areas have been identified for follow-up gold exploration
- The target areas are coincident with regionally interpreted structures within the Casa Berardi Deformation Zone
- The target areas are coincident and spatially associated with gold mineralization intersected in historical drill holes.
SGH Survey and Results
The Douay East SGH survey included the collection, analyses, and interpretation of 1,016 soil samples collected over three target areas comprising a total area of approximately 297 hectares.
(See Figure 1.)
Very positive results were realized on all three target grids. Analysis of samples completed by Activation Laboratories Ltd. ("Actlabs") has resulted in prioritized gold target areas on all three area grids. The Company has interpreted lineaments on the SGH gold pathfinder class maps that are consistent with regional geological and structural interpretation and with structural patterns derived from interpretation of the Company's high resolution airborne magnetic survey flown in 2021 and which are assumed to be gold bearing based on historical drilling on the property. Samples were collected at 25 metre ("m") intervals along 100 m spaced lines.
David Tafel, CEO of Westmount commented: "With the receipt of these positive results and the SGH interpretation now complete, the Company is proceeding with advanced interpretation of the 2021 high resolution magnetic survey data and of the historical drilling available in order to support the planning of a targeted diamond drill program on the property. The Company anticipates implementing a 2,000 m Phase 1 drill program to test the top priority targets once the final interpretation work is completed."
Target 1: The priority gold target area interpreted by Actlabs on the target 1 grid in part forms a northwest-southeast trend which is similar to regional geological and geophysical trends and is spatially associated with a fault zone in the Casa Berardi Deformation Zone ("CBDZ") as interpreted by Québec Ministère de l'Énergie et des Ressources Naturelles ("MERN"). The Company interprets a northwest-southeast lineament from the grid 1 gold pathfinder class map that is similarly oriented northwest-southeast and is spatially associated with the regional fault interpreted by MERN. The priority target area encompasses historical drilling completed in 1986 which returned anomalous gold assay values including 0.58 grams per tonne gold ("g/t Au") over an intersection length of 1 m.
Target 2: The target 2 grid is located on the southern flank of a regional magnetic high and north of the regional scale fault interpreted by MERN. Actlabs has interpreted 2 priority gold target areas within grid 2 which are oriented northeast-southwest; discordant to the regional structural trend. The orientation of the gold target areas in grid 2 are consistent with the orientation of shorter-range structures inferred from interpretation of the 2021 high resolution airborne magnetic survey. The Company interprets this as a potentially favourable gold-host orientation within the CBDZ. The two priority gold targets are spatially associated with anomalous gold mineralization reported in historical drilling including 0.72 g/t Au over an intersection length of 0.60 m.
Target 3: The target 3 SGH grid was centered on a rectangular magnetic high with an orientation discordant to the regional magnetic and structural trend and within a possible fold structure. Actlabs has reported a priority gold target on grid 3 located immediately east of the magnetic high and with its western limits coincident with the shape and location of the high magnetic feature. The Company is tentatively interpreting the location of the SGH priority gold target as a dilatational site related to folding of the volcanic stratigraphy which may include an intrusive body.
Figure 1
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About SGH
SGH is a deep penetrating geochemical exploration method that involves the analysis of surficial samples from over potential (buried) mineral or petroleum targets. The analysis involves the testing for 162 hydrocarbon compounds in the C5-C17 carbon series range applicable to a wide variety of sample types. Samples are collected in the target area in a systematic manner generally at sample stations spaced at 25 m along 100 m spaced lines. Actlabs has developed an in-depth understanding of the unique SGH signatures associated with different commodity targets. Using a forensic approach based on scientific research, orientation surveys over known (buried) mineralization, and the results of exploration projects, Actlabs has developed commodity target signatures, or templates, for identification of the expected analytical results exhibited by each class of SGH compounds.
About the Douay East Property
The Property, acquired by Westmount in 2021, covers an area of 4,868 hectares and is located in the Abitibi Greenstone Belt ("AGB"), western Québec. With over 100 years of mineral production, the AGB remains a very prolific gold mining district. The Property is located within the Casa Berardi Deformation Zone which hosts the currently producing Casa Berardi Gold Mine, past producing gold mines, and several active gold exploration projects. The Casa Berardi Gold Mine, located approximately 105 kilometres ("km") west of the Douay East property, has produced greater than 2 million ounces ("oz") Au, and has annual production of approximately 125,000 oz Au. The Property is contiguous to the west with Maple Gold Mines Ltd.'s property that hosts the Douay Project which contains an estimated 422,000 oz Au of Indicated Resources and 2,352,000 oz Au of Inferred Resources. The Vezza Gold Project, located approximately 1.5 km from the northern boundary of the Property, contains an estimated 327,000 oz Au in the Measured and Indicated categories and estimated Inferred Resources of 68,500 oz Au.
About Westmount Minerals Corp.
Westmount is focused on gold exploration in the America's. The Company is advancing the Douay East property to the drill stage and is evaluating other exploration opportunities.
Qualified Person and NI 43-101
Jamie Lavigne, P. Geo, a Qualified Person as defined in NI43-101 has reviewed and approved the technical information in this press release.
On Behalf of the Board of Directors
David Tafel
Chief Executive Officer and Director
For further information, please contact:
David Tafel
Chief Executive Officer and Director
(604) 683-1991
Forward-Looking Statements:
This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, anticipated content, commencement, and cost of exploration programs in respect of the Company's projects and mineral properties, anticipated exploration program results from exploration activities, resources and/or reserves on the Company's projects and mineral properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will result in sustained precious and base metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration of the Company's properties, that the COVID-19 global pandemic will not affect the ability of the Company to conduct the exploration program on the Douay East Project, the availability of financing on suitable terms, and the Company's ability to comply with environmental, health and safety laws.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company's option to acquire the Douay East Project, the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company's business, financial condition and results of operations, the Company's limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading "Risk Factors" in the Company's prospectus dated February 14, 2022, and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release except as otherwise required by law.
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