LAC LA HACHE, BRITISH COLUMBIA - GWR Resources Inc. (the “Company” or “GWR”) (TSX Venture: GWQ) is pleased to report progress at their Lac La Hache Project.
Please refer to several new supporting images at www.gwrresources.com/s/Maps.asp.
Strategic exploration continued in 2012 of the Company’s expanded Lac La Hache Project along two paths: a) new “grass-roots” surveys and selected reconnaissance drilling providing early-stage vectoring on the recently acquired mineral claims; b) test-pitting and drilling within the historical mineral claims supporting improved interpretation of our existing resource/showings.
Recognition of potential for multiple deposits of various types (see Oct. 4, 2012 News Release) including gold-rich porphyry-copper-gold-silver, porphyry-copper-molybdenum, magnetite-copper-gold-silver, and possible iron-oxide copper-gold-style has added significant blue-sky to our existing published 43-101 compliant Resource at Spout Zones (see June 19, 2012 New Release) and in-house geological estimates at Aurizon Zones. Convincing analogues include Chilean IOCG-style deposits, multiple deposits at the nearby Imperial Metals Mount Polley mine and the recently announced Resource at Gold-Field’s adjoining Woodjam Southeast deposit. Our goal is to demonstrate this potential through focused exploration in both new and historical settings within the Project. Accessibility of our data within a GIS facilitates review by third parties.
Summer/Fall 2013 Drilling
Our summer/fall drilling program has ended, comprising 3,895 meters in 13 drill holes. As previously reported (see Oct. 4, 2012 News Release), reconnaissance drilling exceeded expectations by accurately locating the western, unexposed Murphy intrusion contact, with the bonus of 0.3% Cu over 3m within 15m grading 0.18% Cu, accompanied by anomalous gold and silver concentrations (up to 0.2 and 1.7 gpt, respectively, over 2 meters). Results enhance potential for discovery of Spout type volcanic hosted magnetite-copper west of the contact, within the strong magnetic anomaly. Follow-up in 2013 is planned. Nearby, drilling inside the Murphy intrusion encountered rough drilling conditions, failed to reach a Quantec Titan-24 modeled chargeability anomaly at depth, but adds to our geological understanding of this blind, overburden covered area. The discrete induced polarization anomaly remains untested, providing an interesting future target. Specifications for these holes are tabulated below:
|Recce Drilling Target||DDH||Easting||Northing||Elevation (m)||Length (m)||Casing Depth (m)||Az (deg)||Incl (deg)|
|Two Mile Lake||ML12-03||609227||5768827||1008||400.12||77.72||n/a||-90|
|Two Mile Lake||ML12-04||609594||5769268||1027||155.24||80.50||n/a||-90|
Within the historical claims, a series of shallow, angled holes tested the near-surface projection of the structure which hosts high-grade mineralization within the Aurizon South gold-copper-silver zone, (previously drilled DDH AZS11-29 intersected, at relatively shallow depth of 200m below surface, 8 meters grading 3.6% Cu, 3.4 gpt Au, 19 gpt Ag, including 2m grading 9.3% Cu, 8.4% Au, 48.1 gpt Ag). Assays have been received for the first three of these holes, as shown below.
|Hole||NAD 83 Zone 10||Az.||Dip||EOH (m)||Cu (%)||Au (gpt)||Ag (gpt)||Length (m)||From (m)||To (m)|
The new drilling has confirmed continuity of the structure to surface, sub-cropping under overburden cover. Mineralization occurs within intensely potassically altered, chloritized, brecciated monzonite cut by siliceous hydrothermal breccia veins. Copper grades and size/intensity of the hydrothermal breccias appear to diminish in the near-surface extensions above 150m depth, but narrow intervals of a meter or less can exceed 1% Cu (AZS12-36 for example).
Additional, shallow drilling (DDHs AZS12-38 through 41) has been completed systematically in 50 m step-outs to the south of the holes reported above. Assays are pending, and will be reported when available. This phase of drilling within Aurizon South confirms previous indications that although the 020-degree-trending, 75-degree-west-dipping structure has continuity to surface, best grades and volumes appear to lie deeper within the structure. Previous drilling has shown the zone extends to more than 600 meters vertically, widens with depth, and remains open. The gold-rich nature of this structure continues to offer strong potential value.
A single vertical drill hole (MZ12-01) was collared within the large, circular, Miracle Zone IP chargeability anomaly, testing depth extent of copper-gold grades intersected in previous drill holes M94-01 and M94-08. The new hole intersected very strong pyritization with copper as disseminated and fracture controlled chalcopyrite within altered monzonitic crowded-porphyry. The new results suggest the Miracle anomaly is related to a dipping porphyry mineralizing system, similar to geometry of zones at Imperial Metals Mount Polley mine and our Aurizon Zones. Again, assays will be reported when received.
Reconnaissance Exploration Progress
Last month (see Oct. 4, 2012 News Release) we announced that a new, extensive, Ah-horizon soil geochemical sampling program was planned to significantly improve vectoring within the new, underexplored ground, where exploration is challenged by the presence of Eocene volcanic cover rocks and extensive overburden. The multi-element data provided by this survey represents first-ever geochemical information, augments existing mag-only geophysical data and can be applied to various exploration models and deposit types. This program has now been completed, with over 1100 sites sampled at nominal 500 meter centers. Although only partial analytical results have been received, strong positive anomalies occur over known zones within the historical block, validating geochemical anomalies already appearing within the new ground to the north. Our technical team is excited by the new anomalies and we look forward to positive announcements when all data have been received, compiled and interpreted.
GWR is an active mineral exploration company currently exploring for gold and base metals in British Columbia’s prolific Quesnel Trough. The Lac La Hache copper-gold porphyry/skarn magnetite-copper project hosts multiple zones containing commercial grades of gold, copper, silver and magnetite. The project is located 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.
This news release may contain “forward-looking statements”. Readers are cautioned that any such statements are not guarantees of future performance and that actual development or results may vary materially from those in these “forward looking statements”.
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
GWR maintains a quality assurance/quality control program that conforms to the requirements of National Instrument 43-101. Rob Shives, P. Geo., is the Qualified Person (as defined by NI43-101) who accepts responsibility for the technical content of this news release. Samples for the drilling reported at Lac La Hache were analyzed at ALS Minerals laboratories located in Vancouver BC. A full QA/QC program using blanks, standards and duplicates was maintained for all samples submitted to the labs.
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.