VANCOUVER, BRITISH COLUMBIA, July 3, 2012 - West Kirkland Mining Inc. (WKM:TSXV) (“West Kirkland” or the “Company”) is pleased to announce that samples collected from a recently constructed drill pad returned an average grade of 0.33 g/t Au and 1.00 g/t Ag over approximately 29.0 meters, in well oxidized and highly altered rocks. This gold mineralization is in the same stratigraphic position as the TUG deposit located 10 kilometers to the east. The samples are continuous chip samples of the recently excavated walls of a drill pad. 6.1 meters of samples oriented normal to structure returned an average of 0.56 g/t Au and 1.2 g/t Ag. Previous sampling by the Company on its 12 Mile property returned grades including 1.73 g/t gold in separate parallel structures targeted for drilling. The Company plans on drilling approximately 3,000 meters in the 12 Mile area in 2012.
Michael G. Allen, Vice President of Exploration of West Kirkland said, “The 12 Mile results at surface are contained in structures that parallel the targeted structures approximately 100 meters away and our drilling will now collar in surface gold mineralization. The newly found mineralization our team has found at 12 Mile fits the Long Canyon regional structurally controlled gold model and further confirms the potential of our regional strategy to add to our first gold deposit at TUG.”
Click to view 12 Mile location, geology and drill targets
Details
In addition to the gold and silver, elevated levels of pathfinder elements for Carlin style mineralization was found in all samples. The gold and silver mineralization, setting and host rocks all fit the TUG deposit model nearby.
The new mineralization was exposed in drill pads recently constructed by West Kirkland for the drilling planned at 12 Mile. The target for the initial drilling was steep north south structures cutting the Guilmette formation which is the host for the TUG deposit nearby. The new values are hosted in steep structures that cut the upper Guilmette formation approximately 100 meters east of the previously recognized gold target and the new mineralization has strong alteration, brecciation and oxidation. The high pathfinder elements suggest that the exposure at surface is in the upper part of the system. The angled holes planned at 12 Mile will start in the mineralization and cross cut a series of newly found gold bearing structures.
The 12 Mile showing is part of the land package under option from Rubicon Minerals that gives the Company the dominant land position in the Long Canyon Trend the agreement covers over 900 square kilometers and gives the Company an option of earning a 60% interest in the mineral rights at 12 Mile.
The TUG deposit where West Kirkland announced a NI 43-101 compliant resource estimate of 679,000 oz AuEq contained within 27.1 million tonnes at 0.49 g/t Au and 15.8 g/t Ag = 0.78 g/t AuEq (0.1 g/t Au cut-off, see June 1, 2012 news release) is held under option from Fronteer Development (USA) Inc., which is owned by Newmont Mining. The Long Canyon deposit was discovered by Fronteer Gold, subsequently purchased by Newmont Mining.
Company Focus
The West Kirkland focus is to add to TUG gold deposit with regional exploration for near surface gold deposits. The structural model for gold deposits in the Long Canyon Trend has accelerated exploration in the area since the discovery of the large scale Long Canyon deposit. The Long Canyon Trend is delineated by the Long Canyon deposit in the south west and TUG deposit 65 kilometers to the north east. West Kirkland has the dominant land position between the two deposits.
Data, Verification, Quality Control and Assurance
Michael G. Allen, Vice President of Exploration for West Kirkland, and a qualified person as defined by NI 43-101, has reviewed and approved the technical information in this news release other than the inferred mineral resource estimate, including but not limited to the plans of the Company. He is the non-independent qualified person for the purpose of this news release.
About West Kirkland
West Kirkland was formed in 2010 to focus on gold exploration along major trends in North America. The Company has consolidated significant mineral rights positions in the Kirkland Lake area of Ontario and within major gold trends of northeastern Nevada - two of North America’s premier gold jurisdictions. The founders and Board of West Kirkland have successful gold discovery, development and mine operations experience in both Ontario and Nevada over the past 40 years.
For further information, please see the Company’s website at www.wkmining.com or contact us by email at [email protected] or call:
West Kirkland Mining Inc.
R. Michael Jones, Michael Allen or Knox Henderson at (604) 685-8311
Or
Sequoia Partners
James Beesley: 778-389-7715 or [email protected]
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.
Disclaimer for Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding proposed exploration activities. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to, the state of the financial markets for the Company’s equity securities, the state of the market for gold or other minerals that may be produced generally, recent market volatility; variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's ability to obtain any necessary permits, consents or authorizations required for its activities, to raise the necessary capital or to be fully able to implement its business strategies and other risks associated with the exploration and development of mineral properties. The reader is referred to the Company's public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company’s profile on SEDAR at www.sedar.com.
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West Vault Mining Inc.
Suite 838 – 1100 Melville Street
Vancouver, BC
Canada V6E 4A6
[email protected]
Qualifying Statements
For readers to fully understand the information in this independent media, they should read the 2023 Pre-feasibility Study, which has been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) (available on www.sedar.com), in its entirety, including all qualifications, assumptions, limitations and exclusions that relate to the information set out in this independent media. The 2023 Pre-feasibility Study is intended to be read as a whole, and sections should not be read or relied upon out of context. The technical information in this independent media is derived from, and subject to the assumptions and qualifications contained in, the 2023 Pre-feasibility Study.
Qualified Person for This Independent Media
Sandy McVey P.Eng., Chief Executive Officer and Chief Operating Officer for West Vault Mining, as a non-independent Qualified Person as defined in NI 43-101, has reviewed and approved the technical information disclosed in this independent media.
Disclaimer for Forward-Looking Information
This independent media may contain forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this email include, without limitation, statements regarding the potential economic performance of the Project based on the 2023 Pre-feasibility Study, the Company’s ability to obtain any additional permits required to commence and complete construction and perform operations, the Company’s ability to obtain funding on reasonable terms, and the potential identification, execution, and realization of accretive opportunities. Although West Vault Mining believes that such information as set out in this independent media is reasonable, it can give no assurance that such expectations and estimates will prove correct. West Vault Mining cautions investors that any forward-looking information provided by West Vault Mining is not a guarantee of future results or performance, and that actual results may differ materially from forward-looking information as a result of various factors. The reader is referred to West Vault Mining’s public filings for a more complete discussion of such risk factors and their potential effects; these may be accessed through the Company's profile on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Note to US Investors
This independent media has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of United States securities laws. The terms “Mineral Resource”, “Indicated Mineral Resource” and “Inferred Mineral Resource” are defined in and required to be disclosed by NI 43-101. However, these terms are not defined terms under SEC S-K 1300 and are normally not permitted to be used in reports and registration statements filed with the SEC. In addition, the terms “Mineral Reserve”, “Probable Mineral Reserve” and “Proven Mineral Reserve” are also defined in NI43-101 and not S-K 1300. Investors are cautioned not to assume that all or any part of an “Indicated Mineral Resource” or “Inferred Mineral Resource” will ever be upgraded to a higher category or converted into Mineral Reserves in accordance with S-K 1300. “Inferred Mineral Resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of Feasibility or Pre-feasibility Studies, except in rare cases. Investors are cautioned not to assume that all or any part of an Inferred Mineral Resource exists or is economically or legally mineable. Disclosure of “contained ounces” in a Mineral Resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “Reserves” by SEC S-K 1300 standards as in-place tonnage and grade without reference to unit measures. Accordingly, information contained in this independent media contains descriptions of West Vault Mining’s mineral deposits that may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder.
