West Kirkland Intercepts 16.8 Meters of 1.24 Grams Per Tonne Gold at Three Hills
VANCOUVER, BRITISH COLUMBIA, January 27, 2015 – West Kirkland Mining Inc. (WKM:TSXV) announces today the results of its phase two exploration drilling program at Hasbrouck and Three Hills, two outcropping, all-oxide gold deposits located near Tonopah, Nevada. The exploration results indicate good potential for expansion, particularly of the Three Hills deposit. A prefeasibility study for the Hasbrouck Project, which encompasses both deposits, is on-plan and on-budget with results expected to be announced during the first quarter of 2015.
Drilling of 610 meters in four holes at Three Hills was highlighted by hole TH14R-007 which intercepted 16.8 meters of 1.24 grams per tonne (g/t) gold (Au) starting from 106.7 meters down the hole. This intercept compares to a Three Hills deposit grade of 0.62 g/t Au in 7.7 million measured and indicated tonnes and 0.48 g/t Au in 10 million inferred tonnes at a 0.17 g/t Au cutoff grade (Scott E. Wilson, please refer to the Technical Report dated February 21, 2014 filed on SEDAR*). The gold intercept in TH14R-007 is located approximately 70 meters from the current conceptual open pit boundary.
The targeted high grade gold structure has been traced by drilling approximately 300 meters to the east of the presently established resource. Previously disclosed Hole MW14-01 returned 39.6 meters grading 1.36 g/t Au starting 54.9 meters down the hole (see news release dated November 17, 2014) from the target structure. Other previously disclosed holes in this target area have returned significant results including 50.3 meters of 0.73 g/t Au and 66.0 meters grading 3.33 g/t Au (see news releases dated September 9 and February 24, 2014 respectively). Recent holes TH14R-007 to TH14R-009 tested this high grade structure; hole TH14R-010 tested an additional structure 175 meters to the south.
Three Hills drill results:
|No significant results
Drilling at the Hasbrouck deposit confirmed additional shallow gold mineralization on the northeast flank of the deposit. Three meters from surface, hole HSB14R-011 cut 7.6 meters of 0.55 g/t Au.
The four recent holes totalling 365 meters were drilled on the underexplored northeast flank of Hasbrouck Peak where an additional zone of near surface mineralization has developed. Previously disclosed drilling at this location returned 0.66 g/t Au over 4.57 meters at shallow depths and within 100 meters of the conceptual pit rim (see news release dated September 9, 2014). West Kirkland believes this area has the potential to add additional gold resources to the Hasbrouck deposit.
Hasbrouck drill results:
|no significant results
|no significant results
About the WKM Hasbrouck Project
Located near Tonopah, Nevada, the Hasbrouck Project consists of two oxidized gold-silver deposits eight kilometers from each other, Three Hills and Hasbrouck. West Kirkland has a 75% controlling interest in the project; 25% held by Allied Nevada. West Kirkland has the option of acquiring the remaining 25% interest held by Allied Nevada Gold Corp.
Both deposits have at-surface and near-surface mineralization with the potential for open pit mining at low overall stripping ratios and minimal pre-stripping.
West Kirkland and its independent consultants, Mine Development Associates, are on track to complete a prefeasibility study on the project in the first quarter of 2015. Work on obtaining construction permits for the Three Hills deposit is well advanced with the submission of a plan of operations to the Bureau of Land Management (BLM) in November, 2014. The plan is currently under review and the Company anticipates beginning the National Environmental Policy Act (NEPA) process in early 2015.
Michael G. Allen, Vice President of Exploration for West Kirkland Mining, and a non-independent Qualified Person as defined by NI 43-101, has reviewed the information contained in this news release and has verified the data.
*Mr. Scott E. Wilson, AIPG Certified Professional Geologist, is WKM’s Independent Qualified Person as defined under NI 43-101. Mr. Wilson has reviewed and verified the data disclosed in this news release to be in conformity with generally accepted CIM “Estimation of Mineral Resource and Mineral Reserves Best Practices” guidelines and in accordance with NI 43-101.
Quality Assurance/Quality Control
West Kirkland Mining utilizes a well-documented system of inserting blanks and standards into the assay stream and has a strict chain of custody. Assays are completed at independent labs, which also have internal quality assurance and quality control mechanisms. Assays were performed by ALS Chemex Labs Ltd., by fire assay and ICP methods.
About West Kirkland Mining Inc.
West Kirkland Mining was formed in 2010 to focus on gold exploration along major geological trends in North America. The Company has consolidated significant mineral rights positions within the known gold trends of Nevada and Utah, including the recently acquired Hasbrouck and Three Hills properties in southwestern Nevada. The founders and Board members of West Kirkland have successful experience in gold discovery, mine development and mine operations in Nevada and other gold producing jurisdictions in North America.
For more information, contact:
West Kirkland Mining Inc.
R. Michael Jones or Knox Henderson at (604) 685-8311
Disclaimer for Forward-Looking Information
This news release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. 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. Forward-looking information in this news release includes, without limitation, the completion of the Prefeasibility Study, the project approach of the Prefeasibility Study and exploration and all information under the heading “Prefeasibility Study Detail”, including the Prefeasibility Study budget. Although West Kirkland believes that such timing and expenses as set out in this news release are reasonable, it can give no assurance that such expectations and estimates will prove to be correct. 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, 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.
Cautionary Note to U.S. Investors Regarding the Use of Mining Terms
This news release has been prepared in accordance with the securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all resource and reserve estimates included in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian standards, including NI 43-101, differ significantly from the requirements of the U.S. Securities and Exchange Commission (the “SEC”), and resource and reserve information contained therein may not be comparable to similar information disclosed by U.S. companies. In particular, and without limiting the generality of the foregoing, the term “resource” does not equate to the term “reserves”. Under U.S. standards, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. The SEC’s disclosure standards normally do not permit the inclusion of information concerning “measured mineral resources”, “indicated mineral resources” or “inferred mineral resources” or other descriptions of the amount of mineralization in mineral deposits that do not constitute “reserves” by U.S. standards in documents filed with the SEC. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. U.S. investors should also understand that “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, estimated “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 resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in-place tonnage and grade without reference to unit measures. The requirements of NI 43-101 for identification of “reserves” are also not the same as those of the SEC, and reserves reported by the Company in compliance with NI 43-101 may not qualify as “reserves” under SEC standards. In addition, under SEC standards, a company may only be identified as “development” stage if it has established “reserves” by SEC standards and is engaged in the preparation of such reserves for extraction. Accordingly, information concerning mineral deposits set forth in this news release may not be comparable with information made public by companies that report in accordance with U.S. standards.
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