ARMSTRONG, BC, Dec. 21 /CNW/ - GWR Resources Inc. (the "Company" or "GWR") (TSX Venture: GWQ) is pleased to report assay results from five additional holes testing the Spout Lake Skarn Zones, on the large Lac La Hache porphyry-Au-Cu-Ag and Skarn-Cu-Magnetite-Au-Ag Project in central British Columbia. To date, 34 holes (3,456.3 meters) have been completed in our on-going winter 2010-2011 Program, designed to support 43-101 compliant resource calculations for possible open-pit development of the near-surface portions of the Skarn deposits. A full description of the Drilling Program, its rationale, links to various maps and photos, and assays for the first batch of five holes drilled, were provided in our December 16 2010 News Release (found on the Company's website and elsewhere).
|Hole||NAD 83 Zone 10||Az.||Dip||EOH (m)||Cu (%)||Au (gpt)||Ag (gpt)||Fe (%)||Approx. * Magnetite Eq. of Fe%||Cu Equiv. ** (Cu+Au+Ag+Mgt Equiv.)||Length (m)||From (m)||To (m)|
|W. side South Zone "Peanut" anomaly where mag value lower, assays as predicted||incl.||0.58||0.06||2.2||20.3||27||1.09||2||17||19|
|SW corner South Zone "Peanut" anomaly||incl.||1.05||0.06||2.4||12.6||15||1.36||4||9||13|
|S edge South Zone "Peanut" anomaly||incl.||0.73||0.13||2.3||18.8||24||1.23||2||5||7|
|Tests east side of Skarn area between N. and S. Zones, drilled deeper for geological info||incl.||0.48||0.09||1.7||15.2||20||0.88||2||48||50|
|25 m from the termination of NW end of North Zone magnetic anomaly||incl.||2.47||0.23||26.1||26.7||30||3.37||4||65||69|
|"Full intersection" averages (excludes higher grade intervals within each hole)=||0.56||0.08||3.1||14.0||18||0.9||12.3|
|* Fe minus 2 x Cu (some Fe is in Chalcopyrite + Pyrite, and other minerals) expressed as Magnetite equivalent: Fe% - (2* %Cu) x 1.39|
|** Four metal value, as copper equivalent, assuming retail values (Dec, 2010): Au $1400/oz; Cu $4/lb; Ag $28/oz; Magnetite $150/tonne|
As reported last week, all new drill holes have intersected various widths of massive to semi-massive magnetite with finely disseminated to massive chalcopyrite, bornite, chalcocite and pyrite, occurring as irregular zones within fine to coarse grained, skarned volcanic tuffs and flows, or as late veins/dykes or fracture fillings of massive magnetite-chalcopyrite or chalcopyrite-only. (See more core photos at www.gwrresources.com)
Although many more holes remain to be drilled, assay results to date demonstrate predictability within each Zone, based on the detailed ground magnetic survey patterns. Where copper (as chalcopyrite) occurs within or associated with magnetite, maximum thickness of the mineralized zones correlates with the strongest ground magnetic response. While both North and South Zones contain massive and disseminated mineralization styles, the North Zone is typically more massive and the South Zone is more disseminated, thus far in our drilling. Combined with previously released results, all skarn drilling to date (assays for 10 holes) indicates an average "full intersection" grade (excludes the higher grade section within each drill intersection) of 0.6% Cu, 0.1 gpt Au, 2.8 gpt Ag, 25% magnetite equivalent-Fe, or a combined 4-metal equivalent of 1.1% copper equivalent. Within the ten holes for which assays have been received, seven intersections exceed 2% copper equivalent over an average core length of more than 7 meters. Future drilling in the new year will test less-magnetic, intervening areas between the magnetic highs, for their copper (+Au, +Ag) potential. An additional 8 holes have been sampled, sent for assay, and will be reported when results received.
Both drill rigs have now shut down over the Christmas break from December 18 to January 10, when drilling will recommence.
GWR 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.
GWR 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 Sainte Sabine gold (+Ag, Zn, Cu) property is located within the Bellechasse Mineral Belt in southeastern Quebec, adjacent to known zones on Golden Hope Mines' Bellechasse Project.
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.
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Responsible Officer: Irvin Eisler, President
Company Telephone Number: (250) 546-8048