VANCOUVER, May 9, 2012 /CNW/ - Western Pacific Resources Corp. (WRP - TSXV) is pleased to announce that we have received historical proprietary data compiled by Pegasus Mining for the Mineral Gulch property, formerly known as the Black Pine Mine.
Included in the information are comprehensive drill-hole location maps, topographic maps generated during the mining process, various drill-hole gold assay sheets and useful mine permitting reports.
The data was purchased for a cost of $5,000.
"We are extremely pleased to have acquired the historical data. It has been a long process trying to track down this partial data set. Now that we have this information, we will use it to help with our planned summer drill program. This is a very important step in refining our exploration plan moving forward," said Eric Saderholm, Director.
Western Pacific is commencing a detailed review of the historical data and expects to announce its plans to advance the Mineral Gulch project shortly.
Mineral Gulch is located in Cassia County, Idaho, along the southeast edge of the Black Pine Mountains, approximately 128 km southeast of Burley, Idaho. Western Pacific Resources Corp. controls 100% of the project which it acquired through staking.
The project encompasses the historic Black Pine Mining District and surrounding exploration ground. Western Pacific previously acquired the historical proprietary data for the property from Newmont Mining Corporation.
Sporadic small-scale gold and base-metal mining occurred in the area as early as 1915. Noranda conducted exploration programs at Black Pine between 1984 and 1990. Pegasus Mining entered into a joint venture with Noranda in 1990 and became the majority owner and operator of the mining effort between 1992 and 1998. The Black Pine Property produced over 500,000 ounces of gold at an average head grade of 1.5 grams from several small open pits. Historic exploration and mining efforts have generally focused on near-surface, oxidized ore bodies.
About Western Pacific
Western Pacific is a gold explorer focused on acquiring advanced-stage projects in the Western United States, and has the right combination of exploration and financial professionals to succeed in making a world class gold discovery. For more information, please visit our website at www.westernpacificresources.com.
Clancy Wendt, M.Sc., a registered geologist in Arizona and British Columbia and a member of SME, SEG FAusIMM(CP) and PDAC, is Western Pacific's Qualified Person for the purposes of National Instrument 43-101. Mr. Wendt has prepared or supervised the preparation of the disclosure of the scientific and technical information contained in this news release.
ON BEHALF OF THE BOARD
Warwick Smith, Chief Executive Officer
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing and exploration activities, the interpretation of drilling results and other geological data, risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits, project cost overruns or unanticipated costs and expenses -- that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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