|April 09, 2015|
Western Pacific Receives Final Assays of 2014 Drill Program
|Vancouver, BC, Canada -- April 9, 2015 -- Western Pacific Resources Corp. ("Western Pacific" or the "Company") (TSX-V: WRP) reports that the results from the 2014 diamond drilling program continue to demonstrate high grade intercepts at its wholly-owned Deer Trail Mine, located in Piute County, Utah. Assays for all holes through to hole DT14-41 have now been received and evaluated. Financial modeling and technical work, including metallurgical studies, are ongoing as part of the continued effort of evaluating the viability of bringing the Deer Trail Mine back into production |
The 2014 drilling campaign tested a total of 46 holes over 19,131 ft, exceeding scheduled footage, with results indicating continuity of mineralization. The principle structure, Manto S4, is open both up and down dip. Results include grades of up to 187 g/t gold, 19,220 g/t silver, 5.13% lead and 7.97% zinc; this intersection, in hole DT14-40, is the highest gold grade intersection received to date from the 2014 exploration program. Holes DT14-42 through DT14-46 were not assayed as they encountered a fault and did not reach the target zone. Results from the final diamond drill holes are detailed below. Highlights from drill holes DT14-38 thru DT14-41 include:
A complete list of assays from drill holes DT14-38 to DT14-41 is located in Appendix 1. Drill holes DT14-01 thru DT14-37 were disclosed in news releases dated October 2, 2014 and January 5, 2015. Full details of all drill results including assays, hole location, dip and azimuth is available on the Company's website at http://www.westernpacificresources.com/i/pdf/WRP_DT14-01-to-42-All-Samples.pdf. The project contains several structural blocks and there is insufficient data from the drilling to accurately calculate true intercept thickness at this time.
In addition, the company has sent sample material from the S4 manto to Dawson Laboratories in Salt Lake City for metallurgical analysis, results of which are expected to be completed in June. The metallurgical tests will assist in confirming historic recoveries and determining the final concentrate product composition.
As part of its assessment of the 2014 program, the Company is evaluating strategic alternatives to advance the Deer Trail Mine.
"We are encouraged by the results of the 2014 drill program. The fact that we are seeing these high grades in the distal parts of the deposit indicates the strength of the mineralization in the system," stated Michael Callahan, President & CEO of Western Pacific. "The work to date, including drilling in the 1980s, shows the Deer Trail system to be a large carbonate replacement system with strong evidence of an underlying porphyry. The recent drilling produced indications that the porphyry may not be as deep as previously thought. Located in the same geological setting as the huge Bingham Canyon deposit, the Deer Trail project includes a compelling exploration aspect. We look forward to incorporating the results of the metallurgical testing, which will contribute to a plan to advance the Deer Trail Mine in 2015."
Core recovery for the holes reported in this release, averaged greater than 99%. Industry standard QA/QC programs are carried out and maintained on the Deer Trail Mine exploration program by Eric Saderholm, Qualified Person. Sample preparation has been carried out by ALS in Reno and Tucson, assaying has been carried out by ALS Vancouver.
Eric Saderholm, B.Sc, Registered Member (Number 4145463RM), Society for Mining, Metallurgy, and Exploration, is Western Pacific's Qualified Person for the purposes of NI 43 101. Mr. Saderholm has approved the scientific and technical information contained in this news release.
About Western Pacific Resources Corp.
Western Pacific is a publicly traded resource exploration company focused on advancing a strong portfolio of precious metal properties in the Western United States. The Company is currently exploring the historic polymetallic Deer Trail Mine in Piute County, Utah. The Company's shares trade on the TSX Venture Exchange under the symbol "WRP". Western Pacific's team is led by a slate of technical and financial experts whose aim is to succeed in creating shareholder value through the development of its portfolio of projects as well as by pursuing additional property acquisitions and other strategic opportunities.
ON BEHALF OF THE BOARD
President & CEO
For more information visit the Company's website at www.westernpacificresources.com or contact Fiona Grant Leydier, Investor Relations, at (604) 692-2891 or via email at .
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.
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. Forward-looking statements contained in this news release include, without limitation, statements in respect of the proposed development of the Deer Trail Mine property. These statements relate to future events, business prospects or opportunities and product development. All such statements other than statements of historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect, "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Actual results and developments may differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release.
Forward-looking statements involve known and unknown risks, uncertainties, assumptions of management and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statement, including but not limited to: (a) the Company not having the financial ability to meet its exploration and development goals; (b) risks associated with the results of exploration and development activities, the interpretation of drilling results and other geological risks, estimation of mineral resources and the geology, grade and continuity of mineral deposits, project cost overruns or unanticipated costs and expenses; and (c) such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR at www.sedar.com.
Although the Company believes that the expectations conveyed by the forward-looking statements are reasonable based on the information available to it on the date such statements were made, no assurances can be given as to future results, approvals or achievements. Such forward-looking statements have been made for the purpose of assisting investors in understanding the Company's business, financial and operational performance and plans and may not be appropriate for other purposes. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The Company disclaims any duty to update any of the forward-looking statements after the date of this news release to conform such statements to actual results or to changes in the Company's expectations except as otherwise required by applicable law.
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