West Kirkland Mining (CVE:WKM) saw its shares rise higher Thursday, exceeding its 50-day average volume.
The company's shares were lately trading at 36 cents, up around 7.5 per cent.
The gold explorer is drilling on its Long Canyon Trend properties in Nevada, where it holds the TUG deposit, on which it unveiled an initial resource estimate this past summer.
Late last month, the company released drill results from a new gold zone at the 12 mile prospect, within its Long Canyon Trend property package in Elko County.
The company said that results for the first four holes recently drilled at 12 Mile included 6.10 metres of 0.72 grams per tonne (g/t) gold from a depth of 12.2 metres. *
Overall, West Kirkland said that the drilling returned near-surface grades and thicknesses similar to the company's TUG deposit located ten kilometres to the east. Three further holes at 12 Mile have assays pending.
“The results from 12 Mile continue to validate our regional exploration program in the Long Canyon trend,” said VP of exploration, Michael G. Allen, at the time.
“Drilling to date has tested a strike length of approximately 250 metres and the gold system is open to expand further to the north and west. This robust mineralizing system identified will be tested through further drilling.”
The company added that the best grades cut in the current drilling are extremely shallow, giving the potential to develop a low strip ratio open pit resource at 12 Mile.
West Kirkland has an option to earn up to 60 per cent of the mineral rights to the 12 Mile prospect from Rubicon Minerals(TSE:RMX). The company controls roughly 1,000 square kilometres of mineral rights in the Long Canyon Trend property packages.
The trend is marked by the Long Canyon deposit in the southwest and the TUG deposit 65 kilometres to the northeast. West Kirkland has the dominant land position between these two deposits.
In early June, the company released a resource estimate for TUG of an inferred mineral resource of 679,000 gold equivalent ounces, using a cut-off grade of 0.1 g/t gold (*27.1 million tonnes at 0.49 g/t gold and 15.8 g/t silver = 0.78 g/t gold equivalent*, 0.1 g/t gold cut-off, Caracle Creek, June 1, 2012)
The company is focused on gold exploration along major trends in North America. It has consolidated large mineral rights positions in the Kirkland Lake area of Ontario and within major gold trends of northeastern Nevada.
* 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.
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