West Kirkland Files TUG Resource Estimate on SEDAR
VANCOUVER, BRITISH COLUMBIA, July 16, 2012 - West Kirkland Mining Inc. (WKM:TSXV) (“West Kirkland” or the “Company”) has filed on SEDAR a National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) compliant technical report on its TUG project, located in Utah along the Utah-Nevada border, following the company's news release on June 1, 2012 announcing a maiden gold/silver resource estimate on the deposit. The resource estimate, as reported by independent consultant, Caracle Creek International Consulting Inc. (“Caracle Creek”) comprises an inferred mineral resource of 679,000 gold equivalent ounces** contained in 27.1 million tonnes at 0.49 g/t Au and 15.8 g/t Ag for a gold equivalent grade of 0.78 g/t AuEq** using a 0.1 g/t Au cut-off.
The TUG resource is primarily a near surface oxide resource that may be amenable to open pit mining and heap leach extraction for gold and silver. Approximately 34% of the tonnes of the resource, representing 44% of the AuEq ounces, are located within 40 meters of surface, providing potential for low stripping and mining costs as well as short project lead times. West Kirkland has the right to earn up to a 60% interest at TUG pursuant to an agreement dated December 14, 2010 with Fronteer Development (USA) Inc. (now a subsidiary of Newmont Mining Corporation).
West Kirkland’s immediate plans following up on the TUG resource are to complete a Preliminary Economic Assessment (Scoping Study) on TUG while adding to the Company’s overall resources with regional exploration for other near surface gold deposits. Approximately 3,000 meters of RC drilling is planned on the 12 Mile property, located 10 kilometers west of TUG. Samples collected from a recently constructed drill pad on 12 Mile 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 in the same stratigraphic position as TUG. Within the 29.0 meter section, 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 at a nearby surface location returned grades including 1.73 g/t gold in separate parallel structures, which are now targeted for drilling (see July 3, 2012 news release). Other drill targets include the Toano and Lewis Spring properties. These targets were generated by West Kirkland through a combination of more than 9,000 detailed soil samples, geological mapping and geophysical modeling.
TUG deposit Mineral Resources Statement
Prepared by Jason Baker, P. Eng. of Caracle Creek International Consulting Inc. (“Caracle Creek”) May 29, 2012 and accepted by the Company on May 30, 2012.
* Reported at a cut-off grade of 0.1 g/t Au. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
** AuEq was calculated assuming 100% metal recovery using a metal price ratio between Ag and Au (Ag:Au)= 0.018 (AuEq= Au+(Ag*0.018))
The NI 43-101 technical report is effective June 1, 2012 and titled “Independent Technical Report and Estimated Resources for the TUG property, Utah, USA” and can now be viewed on SEDAR (www.SEDAR.com) and on the Company’s website.
Independent, NI 43-101 compliant inferred mineral resources at the TUG property were estimated by Jason Baker P.Eng. (APENS#9627), a Geological Engineer with Caracle Creek and an independent qualified person in accordance with the independence tests set out in NI 43-101. The inferred mineral resources are reported in accordance with National Instrument 43-101 (the “Independent QP”) and have been estimated in compliance to the latest CIM Definition Standards for Mineral Resources and Mineral Reserves. Mr. Baker has read and approved this release.
Data, Verification, Quality Control and Assurance
Julie Selway, Ph.D., P.Geo, a Senior Geologist with Caracle Creek (APGO#0738) and an independent Qualified Person, verified the analytical data used to create the inferred mineral resource estimate. Sherri Hodder, P. Geo, a geologist with Caracle Creek, has visited the property.
Michael G. Allen, Vice President of Exploration for West Kirkland, and a non-independent 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 wkmining.com or contact us by email at or call:
West Kirkland Mining Inc.
R. Michael Jones, Michael Allen or Knox Henderson at (604) 685-8311
James Beesley: 778-389-7715 or
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 news release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding mineral resource estimates, proposed exploration activities and potential mining and extraction techniques to which the deposit may be amenable. 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. As actual results and future events could differ materially from those anticipated in such statements and information, readers should not place undue reliance on forward-looking statements or information. Except as may be required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.
Cautionary Note to U.S. Investors Regarding Estimates of Inferred Mineral Resources
This press release uses the terms “inferred mineral resources.” We advise U.S. investors that while these terms are recognized and required by Canadian regulations, the SEC does not recognize them. “Inferred mineral resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an “inferred mineral resource” will ever be upgraded to a higher category. Under Canadian rules, estimates of “inferred mineral resources” may not form the basis of a feasibility study or prefeasibility studies, except in rare cases. The SEC normally only permits issuers to report mineralization that does not constitute “reserves” as in-place tonnage and grade without reference to unit measures. The terms “contained gold ounces” and “contained silver ounces” used in this press release are not permitted under the rules of the SEC. U.S. investors are cautioned not to assume that any part or all of an inferred resource exists or is economically or legally mineable.