West Kirkland Mining (CVE:WKM) announced Wednesday significant gold grades and high-grade silver credits from its TUG deposit in Nevada, and unveiled that a new high priority target area named "12 Mile" has emerged in the Long Canyon trend.
In 2012, West Kirkland has completed eight holes on the TUG property,
extending the deposit a further 200 metres to the northwest.
The company’s shares rose 7.89 percent to 82 cents on Wednesday
afternoon as it released the results from four additional drill holes on
the TUG property since its previous announcement on February 23.
Highlights include drill hole WT12-011, with 16.51 metres of 1.66
grams per tonne (g/t) gold and 26.89 g/t silver.* (True thickness is
estimated to be 70-90% of reported length.)
In addition, hole WT12-012 returned 8.99 metres of 1.18 g/t gold and
200.73 g/t silver, and hole WT12-013 intersected 3.05 metres of 1.53 g/t
gold and 516.21 g/t silver.
Hole WT12-010 returned no significant mineralization, the company said.
"We are very pleased to see the TUG deposit continuing to expand with
more drilling. The high silver credits also add value to this deposit,”
said West Kirkland’s VP of exploration, Mike Allen.
"The company is in the process of establishing an initial resource at
TUG by way of an independent NI 43-101 technical report. These new
holes will add to that model."
Regional mapping, rock and soil sampling work on the company’s
900-square-kilometre land position in the Long Canyon Trend are
continuing. To date, West Kirkland said it has assessed approximately
150 square kilometres of the Long Canyon package, and further targets
continue to be developed.
As announced in February, West Kirkland said work has successfully
identified extensive regional gold targets up to eight kilometers in
length for drilling in 2012. From this work, the new high priority
target area named "12 Mile" emerged.
The company said it has received assays from 47 rock samples
collected on the 12 Mile target, 21 of which returned gold values
greater than 0.1 g/t gold. Four samples were greater than 0.5 g/t gold
to a peak value of 1.73 g/t gold.
For all samples, values returned ranged from 0.002 to 1.73 g/t gold.
Mapping and sampling by West Kirkland in 2012 found a new area of gold
mineralization, with the highest gold value separate from the obvious
surface mineralization and historic drilling, the company said.
A three dimensional target model has been developed and the 12 Mile
target will be a priority drill target in 2012, West Kirkland added.
West Kirkland said it has received all necessary permits for drilling
on its Long Canyon trend properties and is now preparing to activate a
reverse circulation drill to defined targets on the Bandito, Lewis
Spring and Toano areas.
The company said that 11,000 metres of regional target, reverse
circulation drilling in the Long Canyon Trend is planned to start this
Formed in 2010 to focus on gold exploration along major trends in
North America, West Kirkland has significant mineral rights positions in
the Kirkland Lake area of Ontario and within major gold trends of north
* Qualified Person,
Michael G. Allen, Vice President of Exploration for West Kirkland,
and a non-independent Qualified Person as defined by Canadian National
Instrument 43-101, has verified the analytical data, including drill
core samples, quoted in this article that are referenced from Company
news releases previously disclosed by West Kirkland Mining.