JERSEY, Channel Islands, United Kingdom, March 11, 2013 /CNW/ - (TSXV - WMI) Whetstone Minerals Ltd. ("Whetstone") is pleased to report results from its preliminary scout drilling program completed at the Bembesi Goldfields project in Zimbabwe during the last half of 2012.
Drilling program highlights
- The purpose of the scout drilling program was to test several targets selected for their potential of hosting large, bulk mineable gold mineralization located astride regional shear zones in the Bubi Greenstone Belt, Matabeleland North, Zimbabwe.
- Drilling was planned to test for sulphide-related gold mineralization beneath historic open pit workings at the Company's 100% owned Mabel's Luck, Tiberius, W&B and Durban claims groups.
- A total of 1,200 metres were drilled from nine diamond drill holes during the second half of 2012. One hole (MLKDD001) failed to reach its targeted depth due to bad ground and four holes did not show any significant intersections.
- Hole MLKDD002 at Mabel's Luck intersected three zones of mineralization, including 3.3 g/t over 19 metres drill width (16 metres true width).
- Hole DURDD001 at Durban intersected a zone of 1.4g/t over 12 metres drill width (11 metres true width).
- Planned follow up drill at Mabel's Luck and Durban is designed to test the lateral, down-dip and down-plunge continuity of the intersected zones.
- Drill core from both Mabel's Luck and Durban displays multiple veining, brecciation, alteration and varying combinations of pyrite-arsenopyrite sulphide mineralization. This is indicative of extensive hydrothermal and structural activity associated with the regional shear zones on the Bubi Greenstone Belt.
Allan Dolan, Whetstone's Chairman and Interim CEO said:
"I am pleased with the results of this initial scout drilling program that indicates two potential areas that meet Whetstone's criteria for potential large, bulk mineable, gold mineralisation. The Company will continue drilling its numerous prospects and acquiring further properties in this discrete, highly prospective, gold camp."
Detailed drilling results
|Hole No.|| From
| Drill Width
|MLKDD001||Failed to reach target depth|
|MLKDD003||No significant results|
|MLKDD004||No significant results|
|TIBDD004||No significant results|
The diamond drilling was supervised by Whetstone consulting geologist Thembani Ncube. Diamond drill core was logged, marked for sampling and cut by diamond saw. Half the core was sealed in new plastic sample bags and the remaining half core was retained and securely stored for future reference. Plastic sample bags were then sealed in rice bags, and shipped directly by company vehicle to Antech Laboratories in Kwekwe, Zimbabwe. Gold analyses were carried out by Fire Assay. The laboratory carries out a comprehensive internal quality control programme including certified calibration standards, duplicate analyses and insertion of blanks. Full assay certificates are available from the company on request.
The QP for the technical aspects of this news release is Paul Matthews, MIAG.
Change of Director
Whetstone also announced today that Frank Moxon has resigned as a director of the company effective immediately. In connection with the change to the Board of Directors, the Audit Committee of the Board has been reconstituted and is now comprised of Ndabezinhle Moyo (Chair), Allan Dolan and Robert Stan.
"We would like to thank Mr. Moxon for his commitment and service to the company during his tenure here. We wish him well in his future endeavors." said Allan Dolan, Whetstone's Chairman and Interim CEO.
About the Bembezi Goldfields Project and Whetstone Minerals
Mabel's Luck, Tiberius, W&B and Durban are part of Whetstone's Bembesi Goldfields project. Most of the Bembesi Goldfields properties have been intermittently mined since the 1920s with historical production of over 400,000 ounces.
Whetstone Minerals Ltd. is a gold exploration and development company focused on Zimbabwe, where it owns a number of advanced exploration projects including several former producing mines which lie within a discreet gold camp. Whetstone's common shares are listed on the TSX Venture Exchange under the trading symbol "WMI". The company is pursuing a two pronged growth strategy through aggressive property and corporate acquisitions as well as adding resources through the drill bit. Whetstone's website address is www.whetstoneminerals.com.
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.
SOURCE: Whetstone Minerals Ltd.
For further information:
Whetstone Minerals Ltd.
Allan Dolan, Chairman and Interim Chief Executive Officer
Phone: +44 (77) 9697 3008
To be added to Whetstone's private email list, please contact [email protected].