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WKG WestKam Gold Corp

0.115
0.00 (0.00%)
10 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
WestKam Gold Corp TSXV:WKG TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.115 0.085 0.105 0 21:00:00

Bonaparte IP Survey Indicates Extension of Discovery Zone, Enhances Bulk-Tonnage Porphyry Potential

03/12/2013 12:00pm

Marketwired Canada


WestKam Gold Corp. (TSX VENTURE:WKG) ("WestKam" or the "Company") announced
today that a 3D induced polarization (IP) survey on the company's Bonaparte
Property near Kamloops, BC was successful in identifying a possible extension of
the Discovery Gold Zone. The program also located a large intrusive structure
and related anomalies that reinforced Bonaparte's bulk-tonnage, porphyry
copper-gold potential (as inferred by recent studies from the British Columbia
Geological Survey(i)).


The IP program, conducted in September and October, consisted of chargeability,
resistivity and magnetic surveys on a grid measuring 800 meters north-south and
2250 meters east-west. The goal of the program was to advance and test two key
deposit types: 




1.  Shear-hosted, high-grade gold mineralization in quartz veins 
2.  Bulk tonnage porphyry copper-gold mineralization 



Apparent Extension of the High-Grade Discovery Zone

The surveys delineated a chargeability response over the Discovery Zone which
extended through the grid 800 meters south-southeast and remains open. The
results present an encouraging target to test the extension of the high-grade
gold zone where drilling, trenching and bulk sampling have confirmed high-grade
gold in quartz veins. The two bulk samples, completed in 1994 and 2010, averaged
26.5 g/t Au and 16.28 g/t Au respectively. 


Possible Multi-Phase Intrusive Body Adds Further Support to Porphyry Potential 

A large magnetic anomaly, comprising extreme highs and lows with coincident
chargeability anomalies, occurs beneath the basalt cap southwest of the
Discovery Zone. The results are indicative of a multi-phase intrusive body
normally found associated with copper-gold porphyry deposits. The anomaly
increases in size and strength from the Discovery Zone to the south of the grid
and remains open at depth to the west, south and east. These results reinforce
the BC Geological Survey's premise that mineralization on the Bonaparte Property
"represents an upper level of a buried porphyry system(i)." 


More Anomalies East of Discovery Zone

Resistivity and chargeability anomalies also occurred east and southeast of the
Discovery Zone, along Cooler Creek, where historical soil sampling identified a
2-kilometer long anomalous copper, gold and molybdenum geochemical trend.
Prospecting and sampling in this area previously encountered quartz vein float
grading 74 g/t Au. 


Another high chargeability anomaly, open to the south, east and at depth,
occurred on the far southeast limit of the grid. Readings indicate the zone
could be strongly mineralized. 


"The results of this survey exceeded our expectations and answered a number of
key questions," said WestKam CEO Matt Wayrynen. "Not only are we seeing a
sizeable expansion of the Discovery Zone target, we have taken a great leap
forward in establishing the presence of a gold-copper porphyry." 


Coast Mountain Geological Ltd., who managed the induced polarization survey for
WestKam Gold, is evaluating the results of the program and will recommend the
next phase of exploration at Bonaparte. 


(i) "Bonaparte gold: another 195Ma porphyry Au-Cu deposit in Southern British
Columbia?"


About WestKam Gold Corp.

WestKam Gold Corp. is a Canadian gold exploration company focused on developing
the Bonaparte Gold Project near Kamloops, British Columbia. Additional
information can be found on the company's website at www.westkamgold.com


ON BEHALF OF THE BOARD OF DIRECTORS

Matt Wayrynen, President



WestKam Gold Corp.                                                          
Suite 900, 570 Granville Street                                             
Vancouver, BC V6C 3P1                                                       
www.westkamgold.com                                                         



Forward looking statements: Neither 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.
This release contains statements that are forward looking statements and are
subject to various risks and uncertainties concerning the specific factors
disclosed under the heading "Risk Factors" and elsewhere in the Company's
periodic filings with Canadian securities regulators. Such information contained
herein represents management's best judgment as of the date hereof based on
information currently available. The Company does not assume the obligation to
update any forward looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
WestKam Gold Corp.
John Ulmer
Investor Relations
778.994.6453
www.westkamgold.com

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