VANCOUVER, BRITISH COLUMBIA, October 16, 2018 – West Kirkland Mining Inc. (WKM:TSXV) (“West Kirkland”, “WKM” or the “Company”) reports results from recent surface continuous channel chip sampling by the Company on the newly identified MJ Zone, located on the 75% owned portion of the Company’s regional Hasbrouck Nevada land position:
| 2018 Surface Composite 20' Rock Chips – MJ Zone | |||||
| Traverse | Length (ft) | Length (m) | Au Grade (g/t) | Au Grade (opt) | Orientation |
| MJ-01 | 80 | 24 | 2.69 | 0.078 | Across strike |
| MJ-04 | 80 | 24 | 0.70 | 0.020 | Oblique to strike |
The new MJ Zone on the Hasbrouck property was previously intersected with drilling on the adjacent Gold Mountain ground near the property boundary. See the Company’s news release dated October 4, 2018. A historic 230 foot (70m) drill intercept returned a grade of 0.42 g/t gold (0.012 ounces per ton gold) starting at 250 feet (76m) from surface and was located on the same MJ Zone structure now mapped and sampled by WKM on surface. The historic drill intercept is open up-dip and was not further investigated at the time of drilling due to its proximity to the property boundary as it existed at that time. The property position has now been consolidated by WKM through its 100% option of the Gold Mountain property. The true thickness of the MJ Zone is not known at this time.
The historic drill hole was approximately 400 feet (122m) to the NW along strike from the new gold values on surface reported today. Since consolidating the district into one property package, WKM has compiled all the data, mapped the structures and conducted sampling. The MJ Zone is well defined with 1,000 feet (305m) of untested strike length that will now be tested by WKM.
The mineralization at surface is very similar in style to the Three Hills ore hosted nearby in the same formation and the same structurally controlled setting.
The MJ Zone adds to the exploration potential at surface announced previously at the Gold Zone Adit area of the Gold Mountain property where underground workings, and WKM and previous operators drilling have outlined a clear near surface target.
The objective of the WKM work is to add near surface resources for early planning in addition to permitted gold reserves on the district-scale land position controlled by the Company near Tonopah, Nevada.
WKM controls (75% interest) and operates the Hasbrouck gold project with 762,000 ounces of proven and probable reserves (45,270,000 tons at 0.6 Au g/t; 8.0 Ag g/t for 10,569,000 contained Ag ounces) and has a 100% option interest in the Gold Mountain area which is the subject of recent exploration.
Interest in southwest Nevada has increased recently as a result of increased gold exploration activity in the area and a corporate acquisition. WKM has one of the few permitted projects with well drilled reserves.
ABOUT THE HASBROUCK GOLD PROJECT
The Hasbrouck Gold Project contains Proven & Probable Reserves of 784,000 gold equivalent oz, (45,270,000 tons at 0.58 Au g/t for 762,000 contained Au oz; 7.99 Ag g/t for 10,569,000 contained Ag ounces. NPV5 Post Tax (US$1,275/oz Au) estimated at US$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).
QUALIFIED PERSON
R. Michael Jones P.Eng., CEO of West Kirkland Mining, is a non-independent Qualified Person (“QP”) as defined by NI 43-101. He has reviewed the information contained in this news release and has verified the data, including the historical 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. Historic information does not have a chain of custody and is accepted by the QP for exploration target work.
QUALITY ASSURANCE/QUALITY CONTROL
West Kirkland Mining Inc. 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 the Company. Assays by the Company 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.
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 [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.
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.
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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.
