TORONTO, ONTARIO , Metalex Ventures Ltd. (TSX VENTURE: MTX)
("Metalex"), and Arctic Star Diamond Corp.'s (TSX VENTURE: ADD)
("Arctic Star") Joint Venture Project along the Ring of Fire, 45
kilometers North of Noront Resources Limited's ("Noront") Eagle One
Discovery encountered another significant width of Volcanic Derived
Sulphides (VDS) mineralization in hole number 5.01-09. The property
consisting of 160 acres is under option by WSR, whereby WSR can
earn up to a 50% interest in the property. Within the option
agreement covering approximately 21,400 hectares, there are
numerous other high priority targets throughout the area.
To date, on the 5.01 discovery 10 holes have been completed
totalling 1,903.5 meters. Hole 5.01-06, reported in a previous
press release dated June 4, 2008 on Section 1+50 East was followed
by three additional holes on the same section. Hole 5.01-10 was a
50 meter step out east of 5.01-09 on Section 2+00 East. The zone
dips steeply north below the Precambrian surface which is overlain
by approximately 15 - 20 meters of gravel and Paleozoic sedimentary
cover. The VDS mineralization has been delineated thus far on
sections 1+00 East and 1+50 East (50 meters apart) down to a
vertical depth of 200 meters. On a 3rd section (2+00 East) the
first hole completed (5.10-10) failed to intersect the zone at its
targeted vertical depth of 150 meters.
Hole number 5.01-07 was drilled in a southeasterly direction to
check for a north easterly - south westerly strike direction and
encountered only minor iron sulphide mineralization.
Hole number 5.01-08 drilled southerly, across the assumed east -
west strike direction encountered only sparse mineralization at
shallow depths over the top of the main mineralization.
Hole number 5.01-09 drilled southerly, 50 meters down dip below
hole 5.01-08 encountered the main zone from 103.5 meters to 235.4
meters (131.9 meters in total) in the drill hole and is similar in
visible sulphide content to Hole number 5.01-06.
Hole number 5.01-10, a 50 meter step out to the east of hole
5.01-09 and along strike intersected only minor sulphides.
Hole number 5.01-11 currently drilling is designed to test for
the main mineralization down the steep easterly plunge, 50 meters
below hole 5.01-10 on the same north - south cross section (2+00
East).
The following table summarizes the recent drilling on 5.01 with
significant visual sulphide mineralization:
----------------------------------------------------------------------------
Location Hole Mineralization Visual
------------------------------------------------------------- Description
Hole No E.ing N.ing Dip Az EoH From To Width of
------------------------------------------------------------- Mineralization
meters meters meters
----------------------------------------------------------------------------
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Minor
5.01-07 1+50E 0+50N -45 135 165.0 52.4 118.5 66.1 iron sulphides
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Minor
5.01-08 1+50E 0+50N -45 180 140.2 25.9 35.4 9.5 iron sulphides
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Minor iron,
copper
5.01-09 1+50E 0+00N -60 180 249.7 42.0 103.5 61.5 sulphides
----------------------------------------------------------------------------
Semi-massive,
iron, copper,
103.5 154.0 50.5 zinc sulphides
----------------------------------------------------------------------------
Iron, copper,
154.0 183.8 29.8 zinc sulphides
----------------------------------------------------------------------------
Semi-massive
iron, copper,
183.8 201.2 17.4 zinc sulphides
----------------------------------------------------------------------------
Near-massive
iron, copper
201.2 235.4 34.2 sulphides
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Minor
5.01-10 2+00E 0+50N -65 180 280.5 131.7 235.1 93.4 iron sulphides
----------------------------------------------------------------------------
The anomaly 5.01 Project is managed and operated by Metalex for
the Joint Venture partners under supervision of Dr. Charles Fipke,
Chairman of Metalex. Dr. Fipke and John Harvey, P.Eng, a consulting
geologist for WSR, prepared this release.
WSR believes that the recent drill hole results, with the
presence of visible copper, zinc and lead sulphides being observed
on site by the project's geologist are very encouraging and could
be of significant importance to the Joint Venture Partners if the
assay results pending are favourable. Notwithstanding the
foregoing, visible observations are estimates only and pending
assay results may not confirm visual observations in whole or in
part. The widths given above are core widths only and do not
represent true widths which cannot be determined at this time.
John Archibald, P.Eng. and a Qualified Person, has reviewed the
drill core and confirms the visual descriptions described herein.
Assay results are pending for all holes completed to date.
About WSR
WSR is a Canadian based mineral exploration company with
extensive property holdings strategically located on and around the
nickel/copper "Ring of Fire" in northern Ontario near James
Bay.
WSR has entered into an agreement with Metalex Arctic Star
whereby WSR has the right to fund a maximum of $20.0 million in
expenditures on the James Bay Properties Property over a 4 year
period to earn a maximum 50% interest. The James Bay Properties
comprise approximately 214.4 square kilometers (52,980 acres) (see
press release dated March 26, 2008).
WSR can earn a 50% interest in the McFauld's Lake Property
pursuant to an option agreement with Noront Resources Ltd. (TSX
VENTURE: NOT) (see press release dated November 1, 2007). The area
will include 15 Claim Blocks, approximately 4,400 hectares (9,600
acres) in the Ring of Fire, McFauld's Lake, Ontario near Noront's
prolific nickel copper and platinum group metals discovery.
WSR has agreed to acquire a 75% interest in the Big Mac Property
from MacDonald Mines Exploration Ltd. (TSX VENTURE: BMK) consisting
of 51 Claim Blocks, approximately 27,660 acres (see press release
dated February 15, 2008).
WSR and Noront have agreed to earn a 35% interest each in the
Luc Bourdon Prospect from Golden Valley Mines Ltd. (TSX VENTURE:
GZZ) consisting of approximately 9,000 hectares (see press release
dated June 6, 2008). The Luc Bourdon Prospect surrounds the
recently announced Volcanic Derived Sulphide (VDS) Mineralization
by Metalex and WSR to the north, east and south.
Forward looking statements: Certain information set forth in
this news release may contain forward-looking statements that
involve substantial known and unknown risks and uncertainties.
These forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond the control of WSR,
including but not limited to the impact of general economic
conditions, industry conditions, volatility of commodity prices,
risks associated with the uncertainty of resource and reserve
estimates, currency fluctuations, dependence upon regulatory
approvals, the unavailability of future financing and exploration
risk. Readers are cautioned that the assumptions used in the
preparation of such information, although considered reasonable at
the time of preparation, may prove to be imprecise and as such,
undue reliance should not be placed on forward-looking
statements.
Shares Outstanding: 112,085,708
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: WSR Gold Inc. John Tait President and Chief Executive
Officer (416) 628-5905 Email: jtait@wsrgold.ca Website:
www.wsrresources.ca
Windstorm Resources Inc. (TSXV:WSR)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Windstorm Resources Inc. (TSXV:WSR)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024