TSX Venture: WGLD
NORTH BERWICK, Scotland,
The Report titled "NI 43-101 Technical Report on the Lagalochan Property, Argyll,
The Company has reinterpreted past exploration activities in the Lagalochan area,
Highlights from the Report are:
- Copper (Cu) gold (Au) molybdenum (Mo) mineralisation at Lagalochan is a rare example of an exceptionally well preserved and undeformed, breccia dominated, Silurian aged, porphyry system. The porphyry is of the high-K, calc-alkaline type similar to Red Chis in
British Columbia andBingham Canyon inUtah which are noted for their gold content as well as copper and molybdenum. - Mineralization occurs from surface and is associated with quartz stockworks and extensive potassic alteration overprinted by intense phyllic alteration.
- Shallow levels of erosion preserve gold, silver, zinc and lead bearing intermediate sulphidation epithermal veining and proximal copper-gold skarn assemblages. These so far form a minor proportion of the known mineralization, but are important exploration targets.
- Lack of outcrop combined with less than 10,000m of historical drilling, leaves considerable exploration potential, with primary Cu, Au, Mo mineralisation open in all directions at surface and to depth.
- New exploration will focus on the targets highlighted in the Report to extend the near-surface mineralisation at Lagalochan through pitting and subsurface sampling.
Gossan Burn,
The Company launched a drilling campaign at Knapdale in Q2 2022 (see the Company's
The overall drilling results were disappointing. Two main styles of gold and base-metal mineralisation were encountered:
(1) The first mineralisation style is associated with isolated, deformed quartz-albite ± pyrite-galena- chalcopyrite-sphalerite veins often with gold associated. The mineralisation is similar to that encountered at the nearby Stronchullin gold prospect and is interesting in that it indicates this type of mineralisation is much more widespread than previously thought. Individual gold grades were relatively low over a 1m interval with a maximum value of 1.67 g/t Au reported in GB22-3. However, the gold values mostly depended on isolated individual veins ranging from 1-10cm in thickness within an interval, meaning actual gold grades in the veins themselves must be relatively high. Veins tended to occur near bedding contacts between the quartzites and the schists and there were no structural or other features to indicate that their frequency may increase to yield potential economic values.
(2) The second style of mineralisation is limited in spatial extent, only encountered in GB22-5 (Figure 1), the furthest hole to the NE. Mineralisation consists of two narrow (<50cm wide) zones of semi-massive pyrite ± chalcopyrite and minor associated quartz-sulphide veining within an amphibole altered deformed Dalradian schists. This style of mineralisation was typically low grade, with sub-economic concentrations of copper (<0.5%), lead and zinc – no gold anomalies were detected here. This style of mineralisation may represent the distal parts of a VMS system; however, ionic leach soil data suggest these anomalies do not extent significantly along strike.
The drilling for the most part reflected the modest values seen in the overlying soils. Neither GB22-1 or GB22-2a, which were aimed at the outcropping chalcocite mineralisation intersected any significant grades, indicating the outcrop is a localized secondary enrichment along the late fault structure.
Results are presented below.
Table 1: Drill Hole Results
Intersections are downhole intersections. True widths are estimated as 70-90% of downhole intersect length. There were no significant assay results from holes GB22-1, GB22-2A and GB22-7.
Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (ppm) | Pb (ppm) | Zn (ppm) |
GB22-3 | 48.00 | 53.00 | 5.00 | - | 1.16 | 1249 | 125 | 3254 |
GB22-3 | 150.0 | 151.0 | 1.00 | 0.73 | 0.18 | 29.5 | 16 | 45 |
GB22-3 | 171.0 | 172.0 | 1.00 | 1.67 | 0.43 | 264 | 270 | 650 |
GB22-5 | 18.40 | 19.40 | 1.00 | - | 15.0 | 576 | 2150 | 153 |
GB22-5 | 33.00 | 35.00 | 2.00 | 0.17 | 2.03 | 1625 | 3660 | 4310 |
GB22-5 | 55.50 | 57.60 | 2.10 | - | 2.21 | 1580 | 1648 | 3083 |
GB22-5 | 116.5 | 118.5 | 2.00 | 0.67 | 4.06 | 421.5 | 4750 | 2420 |
The drilling was undertaken by Priority Drilling who have previously drilled the Stronchullin prospect on the property in 2021. Drilling used a portable light rig mounted on a rubber tracked Morooka and rubber matting was laid to each site from the access track to minimize ground disturbance; all cuttings were collected, bagged and removed from site. Core was drilled to HQ3 wireline size using a triple tube system to maximize recoveries. Drill rigs were aligned with a magnetic compass and downhole surveys were conducted using a Reflex EZ-TRAC system.
Table 2: Drill hole collar locations
Collar coordinates and in the
Hole ID | Easting | Northing | Elevation | Azimuth | Dip | Length |
GB22-1 | 183648 | 676111 | 282 | 115 | -50 | 179.3 |
GB22-2A | 183738 | 676184 | 283 | 205 | -50 | 200.4 |
GB22-3 | 183794 | 676262 | 288 | 115 | -50 | 181 |
GB22-5 | 183930 | 676409 | 278 | 115 | -50 | 180.5 |
GB22-7 | 183336 | 675932 | 308 | 115 | -50 | 298 |
Financial Statements and Management's Discussion and Analysis ("MD&A") – Q3 2022
The Company has filed its financial statements for the three and nine months ending Q3 2022 and the related MD&A on SEDAR. The documents are available on the Company's website, www.westerngoldexploration.com and www.SEDAR.com.
About Western Gold Exploration
The Company is a mineral exploration company that is listed on the
The
Additional information about the Company is available on SEDAR at www.sedar.com under the Company's profile.
QA/QC and Core Sampling Protocols
Company drill core is logged and sampled in a secure core storage facility located near Oban,
Qualified Person and NI 43-101 Disclosure
Dr.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward looking statements include, but are not limited to, statements with respect to those that address potential quantity and/or grade of minerals, potential for minerals and/or mineral resources, timing and plans for any exploratory drilling and statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to the future business activities and operating performance of the Company that may be described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and - 5 - uncertainties include, among other things, the state of the economy in general and capital markets in particular, as well as those risk factors discussed or referred to in the Company's Management's Discussion and Analysis for the year ended
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
Neither the
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