West Kirkland Reports 43m of 3.40 grams per tonne at surface Near Hasbrouck Project, Tonopah, Nevada
VANCOUVER, BRITISH COLUMBIA, May 22, 2018 – West Kirkland Mining Inc. (WKM:TSXV) (“West Kirkland”, “WKM” or the “Company”) is pleased to report further good gold assay results from the Gold Mountain target near the Company’s Hasbrouck Gold Project Reserves in Nevada.
New assay results from West Kirkland mapping and continuous surface sampling include 140 feet (43m) with an average of 3.40 g/t gold and 100 feet (30 m) with an average of 3.67 g/t on the west part of Gold Mountain. Additional gold values are shown in the table below. The true thickness is yet to be determined. It does not appear that these areas have been effectively tested by previous drilling.
Results reported here are from the first batch of 326 samples from a total 876 continuous 20 foot chip samples taken by the Company in the recent program. Results are anticipated on the remaining 550 samples within 2 weeks.
The WKM surface sampling and mapping program outlines clear drill targets aimed at adding at-surface ounces close to the Company’s current heap leach Reserves. Given Hasbrouck’s strong project economics – 43% IRR and US$120m Net Present Value – even a modest addition of ounces at surface within easy trucking distance that can be added to the planned heap leach pads could make a significant positive impact.
The next step for this area is to open up road access as a precursor to drilling shallow, inexpensive holes collaring in the newly-identified gold mineralization zones. WKM will next perform additional infill sampling and surface map new access roads for detailed target delineation prior to drilling.
|Surface Samples||Length||Gold (g/t)||Location||Orientation|
|WP-04A||140’||3.40||West Peak (7 samples)||Perpendicular to strike|
|WP-02||100’||3.67||West Peak (5 Samples)||Perpendicular to strike|
|SR-04 (North)||240’||0.87||Sealey Ridge (12 samples||Perpendicular to strike|
|SR-04 (South)||160’||0.85||South Adit (8 samples)||Parallel to strike|
|TOTAL||640’||Avg: 1.86||32 samples|
The exploration at Gold Mountain (100% Option Interest) is within sight of the Hasbrouck Project (75% WKM, 25% Waterton Fund).
The Hasbrouck Gold Project contains Proven & Probable Reserves of 784,000 gold equivalent oz, (45,270,000 tons at 0.017 Au oz/t for 762,000 contained Au oz; 0.233 Ag oz/t for 10,569,000 contained Ag ounces. NPV5 Post Tax ($1,275/oz Au) estimated at $120M, IRR 43% (Technical Report and Updated Preliminary Feasibility Study for The Hasbrouck and Three Hills Gold-Silver Project, Esmeralda County, Nevada, USA, Report Date: September 14, 2016).
R. Michael Jones P.Eng, CEO of West Kirkland Mining, is a non-independent Qualified Person as defined by NI 43-101. He has reviewed the information contained in this news release and has verified the data by hiring qualified geologists and engineers and has completed a review of the detailed technical information. Mineral Reserve information in this news release relating to the Hasbrouck Gold Project has been developed and approved by Thomas L. Dyer, P.E., of MDA following CIM standards.
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 for samples taken by WKM. Assays by WKM are completed at independent laboratories which have internal quality assurance and quality control systems and procedures. Assays were performed by ALS Chemex Labs Ltd., by fire assay and ICP methods.
The historic work was completed by previous property explorers and developers and provided to WKM in digital form in an extensive database. The surface assays on road-cuts and grab samples were performed at ALS labs by standard fire assays with ICP finish methods. Drill hole assay data for the 1995 and 1990 programs were completed at Barringer labs, GSI labs, and labs respectively with fire assay methods and ICP or AA finish. The 1980 holes do not have assay lab data available, but the values were part of historic production mine work at the time and are consistent with the ALS surface data nearby. Although the work was completed prior to NI-43101 and was not under WKM control and chain of custody, the work was completed by qualified professional geologists and laboratories utilizing standard methods. The results of various dates and operators provide similar results to the surface sample assay work by ALS labs. For the purpose of general exploration target generation, the Non-Independent QP has reviewed the data in detail and has accepted it as verified for general indicative exploration targeting. The data was verified by ensuring a reasonable mineralization type and assay tenor comparison, in the same area, between multiple project exploration companies and labs, along with a review and acceptance of the quality of the work reported. Further confirmation assays under WKM procedures would be required for this data to be used in Resource calculations.
On behalf of West Kirkland Mining Inc.
“R. Michael Jones”
Chief Executive Officer
For further information, please see the Company’s website at www.wkmining.com or contact us by email at inf[email protected].
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 exploration and project approach of a Prefeasibility Study. Historical mineral title also has risk of an unrecorded claim. 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.
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