Stock Symbol: WGF: TSX-V
SASKATOON, SK, June 17, 2013 /CNW/ - Wescan Goldfields Inc. ("Wescan" or the "Company") (WGF: TSX.V) is pleased to announce the results of their winter dill program on its Munro Lake Gold Property. The Munro Lake Gold Project is located approximately 7 kilometers north of Claude Resources' ("Claude") Seabee gold mine/mill complex and 4.5 kilometers north of Claude's Santoy 8 mine. The Munro Lake Project is an early stage gold exploration play which encompasses the northeast projection of the E-W Laonil Shear Zone which is the main deposit control structure for the Seabee Mine gold mineralization and contains a prominent 6.5 kilometre long NW-SE trending structure which is a continuation of the structure that hosts Claude's Santoy 2, 3 & CRJ 100 gold showings.
Historical drilling on the CRJ100 gold showing by Claude have reported grades of up to 38.4 g/t over 0.9m. This lies less than 0.5 km to the SE of the Munro Lake property boundary. The NW-SE trending structure contains numerous gold showings along its entire length and extends from the Santoy 2, 3 and CRJ 100 gold showings all the way through Wescan's property. This same structure also extends to Claude's most northerly disposition and their Trident exploration target.
The winter drill program included a total of 1,052.34 metres of diamond drilling over 4 holes. The program was designed to test areas of anomalous gold in the long NW-SE trending structure identified from historic ground prospecting. Three (3) holes (EXML-001, 002 & 004) were drilled in the southeastern (metavolcanics), and one (EXML-003) in the northwest (granodiorite), extent of the structure. In the southeast all holes intersected anomalous gold in shear hosted quartz/pyrite veins highlighted by an interval of 67.1 g/t Au over 1.00 in EXML-002 in a vein with associated visible gold and 7.1 g/t Au over 1.00 m in hole EXML-001. In the northeast hole (EXML-003) intercepts were also well above background in two pyritised shears within the granodiorite. Gold intersection highlights are summarized in the table below:
|Drill Hole|| From
| Core Length
Drill core was halved and samples between 0.10 to 1.54 metres in length were submitted to SRC Geoanalytical Laboratories' in Saskatoon, Saskatchewan. The remaining half core will be archived at the property. Rigorous quality assurance and quality control procedures have been implemented including the use of standards and duplicates. Core samples were initially analyzed by fire assay, and then all samples above 3000 ppb from fire assay were analyzed by metallic assay. Where available; metallic assays are reported instead of fire assay results. Holes were drilled with inclinations of -45o, approximately perpendicular to the steeply dipping known mineralized areas. Mineralized intersections are reported as drilled core lengths, future modeling is required to interpret true widths of the mineralized intersections.
Mr. Darren Anderson, President of Wescan stated: "We are very pleased with the results of the winter drill program and further work at Munro Lake is warranted to follow up these significant diamond drilling results".
All technical information in this press release has been prepared under the supervision of Daniel Leroux of A.C.A. Howe International Limited, Professional Geoscientist in the Province of Saskatchewan, and is the Company's "Qualified Person" under the definition of NI 43-101.
Caution Regarding Forward-looking Information
This press release contains forward-looking statements within the meaning of certain securities laws, including the "safe harbour" provisions of Canadian Securities legislation and the United States Private Securities Litigation Reform Act of 1995. The words "may," "could," "should," "would," "suspect," "outlook," "believe," "plan," "anticipate," "estimate," "expect," "intend," and words and expressions of similar import are intended to identify forward-looking statements, and, in particular, statements regarding Wescan's future operations, future exploration and development activities or other development plans contain forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements related to anticipated explorations plans, statements related to the Company's ability to expand and delineate mineralized zones, identification of future drilling targets, and assumptions made regarding the impacts of increase in the price of gold on the Company's exploration programs.
These forward-looking statements are based on Wescan's current beliefs as well as assumptions made by and information currently available to it and involve inherent risks and uncertainties, both general and specific. Risks exist that forward-looking statements will not be achieved due to a number of factors including, but not limited to, developments in world gold markets, risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar, changes in exploration, development or mining plans due to exploration results and changing budget priorities of Wescan, the effects of competition in the markets in which Wescan operates, the impact of changes in the laws and regulations regulating mining exploration and development, judicial or regulatory judgments and legal proceedings and operational risks and the additional risks described in Wescan's most recently filed annual and interim MD&A, news releases and technical reports. Wescan's anticipation of and success in managing the foregoing risks could cause actual results to differ materially from what is anticipated in such forward-looking statements.
Although management considers the assumptions contained in forward-looking statements to be reasonable based on information currently available to it, those assumptions may prove to be incorrect. When making decisions with respect to Wescan, investors and others should not place undue reliance on these statements and should carefully consider the foregoing factors and other uncertainties and potential events. Unless required by applicable securities law, Wescan does not undertake to update any forward-looking statement that may be made.
"Neither 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."
SOURCE: Wescan Goldfields Inc.
For further information:
Mr. Darren Anderson
300 - 224 4th Avenue South, Saskatoon, SK S7K 5M5
PH: (306) 664-2422
FAX: (306) 667-3557