GWR extends/defines SPOUT, receives permit to test large PEACH Anomaly
LAC LA HACHE, BRITISH COLUMBIA - GWR Resources Inc. (“GWR”) (TSX Venture: GWQ) is pleased to report that recently received assay results again further extend the eastern end of the vertical NORTH Zone. As predicted by earlier geological interpretation, the data indicate that the North Zone is down-faulted and continues under the horizontal SOUTH Zone. This now extends the North Zone strike to 500 meters, and it is still open.
Following considerable delay receiving assays from the lab, GWR has now obtained results for the first 9 holes in the Fall 2011 SPOUT Zones Copper-Magnetite-Gold-Silver Drilling Program, testing the outer edges of the SOUTH Spout Zone. As reported in our September 15 News Release, the Fall 2011 (current) Spout drilling program follows recommendations from our consultants (SRK and our technical advisor, Mr. G. E. McKelvey) to infill and test for mineralization beyond the cores of the two Zones using large step-outs targeting lower amplitude ground magnetic values (see all News Releases at http://www.gwrresources.com/s/NewsReleases.asp).
Results continue to be predictable, extending boundaries of both Zones and in-filling where grades and thicknesses are strong but sampling was insufficient. Assays for the first 9 holes within the south-eastern part of the South Zone have finally been received and are tabulated below. Refer to accompanying Drill Plan Map on our website for collar locations. As reported previously, 8 of these holes were drilled vertically, all intersected variable widths exceeding 0.5% Cu (with a maximum value in hole SL11-117 of 2.23% Cu (plus 0.34gpt Au, 9.2gpt Ag) over 2m, within a wider true thickness grading 0.7% Cu over 12m).
As shown on the drill location map on our website, note that Hole SL11-116 successfully extends the eastern end of the vertical NORTH Zone, down-faulted under the horizontal SOUTH Zone. As predicted by geological interpretation, substantial mineralization was encountered, intersecting 10m grading 1.16% Cu. This interval included two 2m sections grading 1.46 and 2.27%Cu with up to 37.4% Fe (massive magnetite). Thus the NORTH Zone strike has been extended to 500 m, to date.
|Hole||NAD 83 Zone 10||Az.||Dip||EOH (m)||Cu (%)||Au (gpt)||Ag (gpt)||Fe (%)||Length (m)||From (m)||To (m)|
GWR continues to be very pleased with the SPOUT drilling results and will continue to drill this area to expand the potential resource.
GWR Advances to Next Stage: PEACH Zone
The Company has received the long-awaited permit to explore the exciting 1600 m long PEACH high-magnetic trend. The PEACH Zone occurs east of SPOUT, has the same extremely high magnetic signature and, to our knowledge, has never been drilled before. We look forward to testing this much larger magnetic feature because, to date, the extreme magnetic signatures have been reliable predictors of significant magnetite, copper, gold and silver values. Now that our exploration permit is in hand, a second Atlas drill rig is expected to arrive within a week for this purpose.
The magnetic anomalies on the GWR Claims contain some of the highest amplitude airborne magnetic values within British Columbia. They lie along the circular rim of a large (12+ km diameter) intrusion, offering significant exploration potential far beyond the SPOUT and PEACH Zones. Lessons learned by GWR during the 2010 and 2011 Programs, including the current drilling at anomaly margins, will assist GWR to more successfully explore PEACH and elsewhere along the large regional feature.
GWR is an active mineral exploration company currently exploring for gold and base metals on two properties within Canada. The Lac La Hache copper-gold porphyry/skarn project hosts multiple zones containing commercial grades of gold, copper, silver and magnetite. The project is located in British Columbia’s prolific Quesnel Trough between producing mines at Imperial Metals’ Mt. Polley Copper-Gold Mine and New Gold Inc.’s New Afton Copper Gold project (Teck-Cominco’s legendary Afton mine). The Lac La Hache project is well-served by rail, road and power infrastructure. The Sainte Sabine gold (+Ag, Zn, Cu) property is located within the Bellechasse Mineral Belt in southeastern Quebec, adjacent to known zones on Golden Hope Mines’ Bellechasse Project.
For further information, please contact:
John van Driesum, President/CEO
Telephone Number: 778 440 4472
Rob Shives, VP Exploration
Telephone Number: office 250-396-4978 / cell 613-882-1755
Jag Sandhu, Investor Relations
Telephone Number: 604-306-1950
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