ARMSTRONG, BC, July 8 /CNW/ - GWR Resources Inc. ("GWR" or the "Company") (TSX Venture: GWQ) is pleased to announce that exploration has commenced over the recently optioned Sainte Sabine gold and gold-polymetallic (Au-Ag-Zn-Cu) property located approximately 100 km southeast of Quebec City in the Beauce region of the Province of Quebec, Canada (see June 29 News Release at www.gwrresources.com). A low-level, high-resolution helicopterborne multi-sensor survey is underway over the Company's two claim groups (81 claims plus 38 new, pending claims, covering a total of 45.3 km(2)). This is the first time a survey of this kind has been conducted within the region, combining magnetic total field, gamma ray spectrometric and modern deeper-sensing time-domain electromagnetic measurements, to characterize the geophysical and geochemical responses of known and potential new mineralization. The Company is confident the results will provide significant exploration guidance on the property.
Additional 2010 Phase 1 work will include thorough data compilation, soil geochemical surveys and prospecting. Under the terms of the Option Agreement, GWR is required to spend $400,000 in exploration in the first 12 months.
Gold has long been known to occur within the Beauce region, with the earliest discovery reported in the 1820's. Potentially economic mineralization occurs in several modes within volcanosedimentary rocks of the Magog Group:
- intrusion-related visible gold and gold-bearing sulphides in quartz
stockworks or in non-quartz filled fractures, developed within
intrusive dioritic dikes and sills;
- gold-zinc-copper-silver mineralization within graphitic black shales;
- gold in quartz stockworks with associated sulfides developed in
proximity to magnetic, iron-rich sediments;
- gold paleoplacers;
- as ultramafic related (serpentinite) Ni-Cr mineralization.
The Sainte Sabine property lies immediately along and across strike of several known zones currently being tested by Golden Hope Mines Limited on their Bellechasse Project. GWR's property contains known, near-surface occurrences but has received only sparse reconnaissance exploration work to date along its 12 km strike length. Historical drilling on the property in the late 1980s and 1990 includes a dozen relatively short BQ drill holes that tested 4 coincident geophysical + geochemical anomalies and confirmed the presence of the favourable host stratigraphy. These drill cores were only sparsely sampled (some were not sampled at all) yet returned anomalous gold assays up to 6.6 gpt. Untested historical geochemical anomalies, with historical and new geophysical data, will provide an inventory of promising targets.
GWR believes the property offers excellent gold potential and possesses numerous favourable criteria: excellent infrastructure (year round road access, water, telecommunications and hydro power within 4 km), a skilled workforce, exploration-friendly communities with no aboriginal issues, simplified work permitting process, and proximity to major financial and expertise centers in Canada and USA. Quebec is regarded as one of the most exploration-supportive, policy friendly jurisdictions in the world as rated by the Fraser Institute, offering significant exploration expenditure rebates of 42 to 47%.
About GWR Resources Inc.
GWR RESOURCES INC. is an active mineral exploration company currently exploring for gold and base metals on two properties within Canada. The Lac La Hache copper-gold porphyry project hosts multiple zones containing commercial grades of gold, copper, silver and magnetite. The project is located in British Columbia's prolific Quesnel Trough between producing mines at Imperial Metals' Mt. Polley Copper-Gold Mine and New Gold Inc.'s New Afton Copper-Gold project (Teck-Cominco's legendary Afton mine). The Lac La Hache project is well-served by rail, road and power infrastructure.
The recently optioned Sainte Sabine gold-copper-zinc property is located in an emerging gold belt located in the Beauce region of south eastern Quebec, along strike and adjacent to Golden Hope Mines Limited's Bellechasse Property, where recent drilling and bulk sampling has produced significant gold results.
The Company maintains a quality assurance/quality control program that conforms to the requirements of National Instrument 43-101. Rob Shives, P. Geo., is the Qualified Person (as defined by NI43-101) who accepts responsibility for the technical content of this news release. This news release may contain "forward-looking statements". Readers are cautioned that any such statements are not guarantees of future performance and that actual development or results may vary materially from those in these "forward looking statements".
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.
For further information: For further information: Responsible Officer: Irvin Eisler, President, Company Telephone Number: (250) 546-8048