VANCOUVER, March 1, 2012 /CNW/ - Wesgold Minerals Inc. (TSX-V: WSG) ("Wesgold") and Minatura International LLC ("Minatura") are pleased to report assay results from recent sampling at the Cordoba copper-gold porphyry project located in the Municipality of Puerto Libertador in the Department of Cordoba, 200km north of Medellin, Colombia. Wesgold has the option to acquire a 51% interest in the property from Minatura subject to meeting certain expenditure and cash payment requirements. The Cordoba property consists of four granted mining concession contracts, one pending contract and five applications for a total of 25,790 hectares covering under-explored marine volcano-sedimentary rocks and felsic to intermediate intrusives with multiple artisanal gold mines.
Wesgold's check sampling returned:
|Samples / trench||Interval||Au g/t||Cu %|
Porphyry-style gold-copper mineralization at Cordoba is hosted within intensively fractured and altered mafic volcanic rocks intruded by dioritic intrusives. Local artisanal miners have been recovering gold from gold-bearing saprolitic soils and weathered bedrock using pans, monitors and sluices. The current sampling focused on the artisanal workings at the Montiel mine, which covers an area of approximately 1 square kilometer. Weathering is intense, and outcrop is rare, hampering geological mapping.
Wesgold sampled a series of trenches, exposing gold-copper mineralization in altered basaltic rocks at the Montiel zone. The trenches were originally excavated and sampled by Minatura. Wesgold resampled approximately 40% of Minatura's samples at the Montiel trenches. In addition to gold, results highlight a substantial amount of copper in the trench assays (e.g. 13m @ 0.9% Cu). However, visible copper oxides are rare. Additional assays are expected, and will be reported once they are received and confirmed. The exploration target at Cordoba is porphyry-style copper-gold mineralization hosted in basalts and potentially underlying intrusives.
Wesgold has concluded that Minatura's work was completed to a high technical standard, and is reliable and compliant with the technical disclosure standards of NI 43-101.
Sample / Assay Protocol
All samples were collected by Wesgold personnel and remained with Wesgold's geologists until they were received by Acme Labs in Vancouver and Medellín, with analyses by Acme in their lab in Vancouver. Samples were crushed and sieved to 85% passing -200 mesh, and then analyzed by fire assay for gold and also by an ICP-MS multi-element suite, which includes gold and copper.
Harmen Keyser, P.Geol. (NWT), the President of Wesgold and a Qualified Person in accordance with NI 43-101, supervised Wesgold's work program at the Cordoba property and is responsible for the accuracy of this news release.
Minatura International LLC is a private company engaged in the business of exploration, development and, ultimately, extraction of precious and base metals in Colombia, South America. Minatura holds various projects in Colombia totaling over 352,000 hectares of mining titles and applications for mining titles, all except one of which are owned 100% by Minatura. The company is dedicated to achieving a high return for its investors while adhering to the highest environmental and safety standards in its projects and creating legacy micro-economies for the communities in which it operates.
About Wesgold Minerals
Wesgold Minerals Inc. is a Vancouver-based mineral exploration company focused on the acquisition and exploration gold and copper projects in Colombia. Wesgold recently optioned from Minatura the Cordoba property, covering 25,790 hectares in the Department of Cordoba, Colombia, 200km north of the city of Medellin.
WESGOLD MINERALS INC.
Per: "Simon Ridgway"
Chairman of the Board
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