West Kirkland Commences Drilling on Long Canyon Trend
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/31/12 -- West Kirkland Mining Inc. (TSX VENTURE: WKM) ("West Kirkland," or the "Company") is pleased to announce the commencement of drilling on its Long Canyon Trend properties located in Elko County, Nevada. Approximately 2,500 meters of initial drilling will be completed by September on the 12 Mile and Toano showings. The drilling will test new gold mineralization found at surface that is associated with the key stratigraphic contacts of the Long Canyon Trend.
Six drill pads have now been built on the 12 Mile showing. Targets at 12 Mile were developed by mapping and sampling by the Company. Gold mineralization has been noted to occur in the same stratigraphic position as the TUG deposit, located 10 kilometers to the east. Mineralization has been noted in one drill pad where samples returned an average grade of 0.33 g/t Au and 1.00 g/t Ag over approximately 29.0 meters (for further details see the Company's July 3, 2012 news release).
At Toano the Company's drilling will test targets with a similar geological setting to the nearby 2.2 million ounce Long Canyon gold deposit. 3,460 soil samples on the property outlined an eight kilometer long, gold and associated pathfinder anomaly combined with rock samples including 1.0 to 3.6 g/t Au values at surface. Roads and drill pads will be constructed into the Toano showing while drilling is being carried out at 12 Mile. The Company intends to then mobilize a second rig to the Toano property.
Michael G. Allen, Vice President of Exploration of West Kirkland, said, "Drilling at 12 Mile is an exciting opportunity to collar holes in gold mineralization and test new targets that have not previously been drilled. Our baseline work on more than 160 square kilometers has confirmed that the belt has potential for structurally controlled gold at surface. The drilling at Toano represents an opportunity to test for mineralization in structures similar to those that host Newmont's Long Canyon deposit located in the next range to the west. Both the 12 Mile and Toano targets have the potential to host significant shallow oxide gold resources similar to the TUG deposit and Newmont's Long Canyon deposit."
Details
The Company plans to drill approximately 1,500 meters at 12 Mile during the first phase of drilling and approximately 1,000 meters at Toano. The targets for initial drilling at 12 Mile are steeply dipping structures cutting the Guilmette formation, which is the host for the nearby TUG deposit. Highly elevated levels of gold and pathfinder elements noted in surface samples suggest that the exposure at surface may be the upper part of a gold mineralizing system.
At Toano, the drill target is a pull-apart structure similar to structures that host the nearby Long Canyon deposit. Detailed mapping has identified a structural corridor with northeast trending structures and jasperoids with elevated gold as well as pathfinder elements in soils.
The 12 Mile and Toano showings are part of the land package under option from Rubicon Minerals whereby the Company controls the dominant land position in the northerly portion of the Long Canyon Trend. The Rubicon agreement covers over 950 square kilometers and gives the Company an option to earn a 60% interest in the mineral rights at 12 Mile and a 51% interest in the mineral rights at Toano. Through its option agreement with Fronteer Gold (now owned by Newmont) the Company controls another 74 square kilometers in the Long Canyon Trend.
Corporate Update and Focus
The use of proceeds for the recently closed financing for gross proceeds of $1.69 million will be focused on Nevada exploration and general corporate purposes. Newmont confirmed in its July 20, 2012 news release that the company has acquired 9.9% of West Kirkland Mining Inc. through participation in this financing and their previous holdings.
West Kirkland's focus is to add to its resource base near the TUG gold deposit and within the Long Canyon Trend through regional exploration for near surface gold deposits. The structural model for gold deposits in the Long Canyon Trend has become better understood since the recent discovery of the large scale Long Canyon deposit, resulting in accelerated exploration in the area. The Long Canyon deposit was acquired by Newmont as part of the acquisition of Fronteer Gold. The Long Canyon Trend is delineated by the Long Canyon deposit in the southwest and the TUG deposit 65 kilometers to the northeast. West Kirkland has the dominant land position between these two deposits.
Data, Verification, Quality Control and Assurance
Michael G. Allen, Vice President of Exploration for West Kirkland, and a qualified person as defined by NI 43-101, has reviewed and approved the technical information in this news release other than the inferred mineral resource estimate, including but not limited to the plans of the Company. He is the non-independent qualified person for the purpose of this news release.
About West Kirkland
West Kirkland was formed in 2010 to focus on gold exploration along major trends in North America. The Company has consolidated significant mineral rights positions in the Kirkland Lake area of Ontario and within major gold trends of northeastern Nevada - two of North America's premier gold jurisdictions. The founders and Board of West Kirkland have successful gold discovery, development and mine operations experience in both Ontario and Nevada over the past 40 years.
For further information, please see the Company's website at www.wkmining.com or contact us by email at info@wkmining.com.
Disclaimer for Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding proposed exploration activities. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct. 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. 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, recent market volatility; 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.
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.
Contacts:
West Kirkland Mining Inc.
R. Michael Jones
(604) 685-8311
West Kirkland Mining Inc.
Michael Allen
(604) 685-8311
West Kirkland Mining Inc.
Knox Henderson
(604) 685-8311
(604) 484-4710 (FAX)
info@wkmining.com
www.wkmining.com
Sequoia Partners
James Beesley
(778) 389-7715
james@sequoiapartners.ca