March 11, 2013 – West Kirkland Mining Inc. (TSX-V:WKM, the "Company") has commenced its 2013 drilling and exploration program on key targets in the Long Canyon Trend of Nevada and Utah. This year, the Company plans to drill approximately 8,000 meters (26,000 feet) on high-priority gold targets identified at the Lewis Spring, Bandito and 12 Mile prospects. Drilling is currently underway at Lewis Spring. In addition, up to five square miles of gravity surveying will also be conducted along with the expansion of soil sampling grids to further define additional gold targets.
Michael G. Allen, Vice President of Exploration for West Kirkland Mining said, “The Company is using the deposit models of the nearby Long Canyon and TUG deposits to systematically guide our drilling and exploration target generation within our large, approximately 1,000 square kilometer land package in the Long Canyon Trend. Meanwhile we will be completing the Preliminary Economic Assessment (PEA) of the nearby TUG gold deposit by mid-year.”
Lewis Spring
At Lewis Spring, West Kirkland is drill testing near surface gold mineralization associated with mapped geologic structures and jasperoid zones identified by the Company. Previous work by other operators working in Lewis Spring identified a 53 square kilometer gold-in-stream sediments anomaly. This work was followed up by West Kirkland’s 2012 soil sampling program which revealed elevated gold-in-soils including one gram per tonne gold (g/t Au) at surface.
Bandito
The Bandito project is located on a section of privately held mineral rights on the Nevada side of the Nevada/Utah border, 17 kilometers west of the TUG deposit in Utah. Mapping and sampling has revealed a structural corridor containing elevated gold-in-soil values within an area of approximately 450 meters by 80 meters. Within this corridor, mapping identified a potential host horizon for mineralization where rock chip sampling returned strongly anomalous gold geochemistry including one surface grab sample returning 10 g/t Au.
12 Mile
In 2012 West Kirkland drilled seven holes into the 12 Mile prospect. These holes returned gold grades similar to the Company’s nearby TUG deposit, including 6.10 meters of 0.72 g/t Au starting at a depth of 12.2 meters (see news release dated September 26, 2012). In 2013, West Kirkland will be working further north along strike from the 2012 drilling. The target at 12 Mile is within the same stratigraphic contact that hosts mineralization at the Company’s TUG deposit located 10 kilometers to the east. The potential short trucking distance to the proposed production infrastructure being studied in the TUG Preliminary Economic Assessment places an exploration priority at the 12 Mile Prospect.
TUG Project Update
West Kirkland has recently completed six drill holes within the TUG deposit for metallurgical testing purposes. The drill cores from these holes will also be used for contributing technical information for the pit slope designs as well as assaying and gold recovery work. The metallurgical test work will consider a crushing, heap leach and a standard Merrill Crowe system for the recovery of gold and silver. West Kirkland continues to generate inputs for the Preliminary Economic Assessment which is being spearheaded by Sandy McVey, P. Eng., the Company’s Chief Operating Officer and independent engineering firm Roscoe Postle Associates. Deposit modeling is underway for an optimized open pit design. Surface layouts and multiple water and power options are also being assessed.
Rubicon Option Update
West Kirkland recently negotiated a change of option agreement terms within its option agreement with Rubicon Minerals Corporation dated June 23, 2011. The work commitments required under the agreement will now be completed at the end of each calendar year. This provides West Kirkland the ability to use the full summer exploration season and to schedule exploration work on the property in a more cost effective manner.
Grant of Options
West Kirkland also announces that its Board of Directors has approved the issuance of 500,000 stock options to the Company’s newly appointed COO, Sandy McVey. The options have a five year term and were issued after market close on March 6, 2013, with an exercise price of $0.22 based on that day’s closing price. The stock options were granted pursuant to West Kirkland’s stock option plan.
Qualified Person
Michael G. Allen, P.Geo, Vice President of Exploration for West Kirkland, and a non-independent qualified person as defined by NI 43-101, has reviewed and approved the technical information in this news release.
About West Kirkland Mining
West Kirkland Mining was formed in 2010 to focus on gold exploration along major trends in North America. The Company has consolidated significant mineral rights holdings within the gold trends of Nevada/Utah and in the Kirkland Lake area of Ontario--two of North America’s premier gold jurisdictions. The founders and Board of West Kirkland Mining have successful gold discovery, development and mine operations experience in both Nevada and Canada over the past 40 years.
For further information, please see the Company’s website at www.wkmining.com or contact us by email at [email protected] or call:
West Kirkland Mining Inc.
R. Michael Jones, Michael Allen or Knox Henderson at (604) 685-8311
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. 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.
I agree to and consent to receive news, updates, and other communications by way of commercial electronic messages (including email) from West Vault Mining Inc. I understand I may withdraw consent at any time by clicking the unsubscribe link contained in all emails from West Vault Mining Inc.
West Vault Mining Inc.
Suite 838 – 1100 Melville Street
Vancouver, BC
Canada V6E 4A6
[email protected]
Qualifying Statements
For readers to fully understand the information in this independent media, they should read the 2023 Pre-feasibility Study, which has been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) (available on www.sedar.com), in its entirety, including all qualifications, assumptions, limitations and exclusions that relate to the information set out in this independent media. The 2023 Pre-feasibility Study is intended to be read as a whole, and sections should not be read or relied upon out of context. The technical information in this independent media is derived from, and subject to the assumptions and qualifications contained in, the 2023 Pre-feasibility Study.
Qualified Person for This Independent Media
Sandy McVey P.Eng., Chief Executive Officer and Chief Operating Officer for West Vault Mining, as a non-independent Qualified Person as defined in NI 43-101, has reviewed and approved the technical information disclosed in this independent media.
Disclaimer for Forward-Looking Information
This independent media may contain forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this email include, without limitation, statements regarding the potential economic performance of the Project based on the 2023 Pre-feasibility Study, the Company’s ability to obtain any additional permits required to commence and complete construction and perform operations, the Company’s ability to obtain funding on reasonable terms, and the potential identification, execution, and realization of accretive opportunities. Although West Vault Mining believes that such information as set out in this independent media is reasonable, it can give no assurance that such expectations and estimates will prove correct. West Vault Mining cautions investors that any forward-looking information provided by West Vault Mining is not a guarantee of future results or performance, and that actual results may differ materially from forward-looking information as a result of various factors. The reader is referred to West Vault Mining’s public filings for a more complete discussion of such risk factors and their potential effects; these 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) accept responsibility for the adequacy or accuracy of this release.
Note to US Investors
This independent media has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of United States securities laws. The terms “Mineral Resource”, “Indicated Mineral Resource” and “Inferred Mineral Resource” are defined in and required to be disclosed by NI 43-101. However, these terms are not defined terms under SEC S-K 1300 and are normally not permitted to be used in reports and registration statements filed with the SEC. In addition, the terms “Mineral Reserve”, “Probable Mineral Reserve” and “Proven Mineral Reserve” are also defined in NI43-101 and not S-K 1300. Investors are cautioned not to assume that all or any part of an “Indicated Mineral Resource” or “Inferred Mineral Resource” will ever be upgraded to a higher category or converted into Mineral Reserves in accordance with S-K 1300. “Inferred Mineral Resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. Under Canadian rules, estimates of 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 Mineral Resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “Reserves” by SEC S-K 1300 standards as in-place tonnage and grade without reference to unit measures. Accordingly, information contained in this independent media contains descriptions of West Vault Mining’s mineral deposits that may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder.
