Wpc Resources Inc. Receives Two Ni 43-101 Reports on Nevada Properties
(via Thenewswire.ca)
Vancouver, B.C., April 27, 2011 - WPC Resources Inc. ("WPC" or "the Company") is pleased to announce that it has received two NI 43-101 compliant reports, prepared by Barry J. Price, M.Sc. P.Geo., recommending an extensive work program on both of the Company's " Toiyabe Pediment" and "ZPG "properties. The properties are located in central Nevada within the Battle Mountain-Eureka Trend near the Cortez District and were recently optioned from Genesis Gold Corporation and Industrial Imaging of Salt lake City, Utah. WPC will earn a 100% interest (subject to a 3% Net Smelter Royalty), in both properties by successfully completing, to its satisfaction, the recommended exploration programs. Budgets have been agreed to by all parties and work is expected to start immediately.
Toiyabe Pediment Property
The Toiyabe Pediment Property is located in east-central Lander County 32 kilometres south of the Pipeline Gold deposit of Barrick Gold Corp. It is 19 kilometres southwest of the Cortez Hill gold deposit also owned by Barrick, and 11 kilometres south of the past producing Toiyabe mine. The target is a Carlin-style sediment hosted gold deposit where the gold may also occur in shears, fractures and breccias. The recommended program includes geophysical surveys, (deep penetrating IP and/or CSAMT), an MMI (geochemical) survey and one stratigraphic drill hole (400 metres) to determine which sedimentary formation is present beneath the pediment cover at an estimated cost $300,000. A second program of 3,000-5,000 metres of core drilling, at an estimated cost of $1.2 million, will be initiated after the results have been analyzed.
ZPG Property
The ZPG Copper/Gold Property is located in Lander County approximately eight kilometres south of Newmont Mining Corporation's Phoenix Mine which has significant gold and copper production. The ZPG property is viewed to be prospective for both porphyry style copper-gold and skarn mineralization. Exploration work by various companies in the trend, include geophysical surveys (gravity, magnetic and IP) and some diamond drilling. The magnetic surveys have outlined five circular magnetic features. The two northernmost features are associated with gold-copper mineralization at Newmont's Copper Canyon and Copper Basin deposits, both of which are in production and have yielded in excess of 11 million ounces of gold. The ZPG property is underlain by the largest of the three remaining circular magnetic features. A limited IP survey by Kennecott in 2001 and 2002 delineated a flat-lying chargeability anomaly at a depth of approximately 500 metres measuring approximately 3.0 kilometres north-south and 1.5 kilometres east-west. A total of 10 holes were drilled by Kennecott in 1993-95 but none of the holes were deep enough to test the IP anomaly as the deepest hole drilled was approximately 1,200 feet (365 metres). There were some mineralized intercepts from the drilling, including 0.12% copper over 70 feet (21.34 metres) and 1.05% zinc over 20 feet (6.1 metres) but these were never followed up. The initial Phase I program would consist of drilling three reverse circulation holes, one in the north, central, and southern portions of the chargeability anomaly and each drilled to a depth of 1,000 metres. The estimated cost of this program is $430,000 and will be followed up with a second program of 3,000-5,000 metres of core drilling, at a recommended cost of approximately $1.2 million.
"WPC Resources, Genesis Gold, and Industrial Imaging all share the vision that the next great mines to be discovered in Nevada will be under the cover of the pediment. We are pleased that both the Toiyabe Pediment and ZPG are worthy of immediate advanced exploration and we will be initiating exploration programs based on Mr. Price's recommendations for both Projects immediately" states Al Fabbro, President of WPC Resources Inc. "We are all looking forward to a very active Spring and Summer in Nevada and will keep our shareholders aware of our progress on a regular basis".
About WPC Resources Inc.
WPC Resources Inc. is a Vancouver, British Columbia based gold exploration and development Company. The contained recommendations and technical information have been reviewed on behalf of the Company by Mr Warren Robb, P.Geo.
For additional information, please contact:
Allan Fabbro, President
Telephone: (604) 351-8850
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