Williams Creek Announces First Results from Big Sky Geological Reconnaissance & Sampling Program
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/18/12 -- Williams Creek Gold Limited (TSX VENTURE: WCX) ("Williams Creek", "WCX" or the "Company") is pleased to announce positive first results from its geological reconnaissance and sampling program on its Big Sky joint venture, Yellowknife, NT, Canada. The Company is earning 50% of the Big Sky Property from its Joint Venture partner Tyhee Gold Corp. (News Releases WCX12-04, March 31/12 and WCX12-06, May 31/12).
The rock samples are reconnaissance grab samples and were initially assayed for gold by Acme Labs in Vancouver using fire assay method 3B01 with an ICP-ES finish and additional 46 element analysis using 1EX ICP-MS. All samples containing values greater than 10,000 parts per billion (ppb) gold were re-assayed using two M150 G6.ME assays, one for the fine fraction and one for the coarse fraction of the samples, to offset the 'nugget effect'. The coarse and fine values were then combined by Acme Labs to arrive at the total grams per tonne (gm/t) reported for the samples.
The results reported here are for samples returning greater than 500ppb. These are initial results from a helicopter supported geologic mapping and sampling program involving a senior geologist and a two-man prospecting team with long experience in the Yellowknife district. The Big Sky property is located to the north along strike from, and in similar host rocks to, the prolific Yellowknife gold district. The samples were collected from both previously known and newly identified mineralized shear zones. Additional sample results are pending. A summary report on the 2012 geological investigation is expected in early October and will be used to plan follow up programs, particularly targeting highly anomalous gold values.
The following table lists the sample description, the Fire Assay ICP-ES parts per billion (ppb) gold and the combined total gold M150 G6.ME assays in grams per tonne.
These initial results are located at just seven of the mineralized zones within the Big Sky Property. Mineralized vertical shears are commonly north south trending features with variable widths and quartz vein/sulfide content. Additional assays are pending and will be released upon receipt. A complete map of the 2012 sample returns will be available on the Company website () once all assays have been released.
Twenty samples occur at the northern portion of the Oro Lake Main Shear Zone, a 10-25m wide 2.8km long shear in mafic volcanics similar to the Giant Mine at Yellowknife, NT (samples 996286, 996292, 996293, 996294, 996296, 996298 to 996300, 996414, 996419, 996420, 996422, 996423, 996425, 996427, 996437, 996440, 996451, 996461, 996462 and 996466).
Two samples are associated with a previously unrecorded showing east of the Main Oro Shear in less than 25cm Arsenopyrite in quartz veins occurring on the contacts of less than 2m wide less than 12m long silicified felsic dikes (samples 996407 and 996408).
Ten samples are located within Arsenopyrite in quartz veins along the 2-8 m wide by 1.8k m long WK Zone, a previously explored mafic shear in gneiss (samples 996011, 996023, 996047, 996048, 996049, 996150, 996164, 996201, 996202 and 996349).
Five samples occur in a newly discovered 100 by 100m Soggy Bottom Zone where Arsenopyrite in thin less than 20 cm quartz veins is hosted by sheared gneiss (samples 996193, 996195 to 996200, 996254 and 996257).
Five of the samples are associated with the 25m wide and 100m long newly discovered Dewar's Knob showing which hosts less than 25cm wide, less than 2m long semi-massive Arsenopyrite lenses within a sheared gneiss (samples 996036, 996245, 996388, 996389 and 996390).
Eight samples occur at the historically explored Havoc Zone which hosts multiple 2-8m wide and 500m long mafic shear zones with Arsenopyrite in quartz veining (samples 996243, 996382, 996383, 996387, 996393 to 996399, 996403 and 996405).
Two of the samples occur at the Lost Drill showing in less than 30cm by 100m Arsenopyrite in quartz veins that are sub-parallel to local bedding in metasediments (samples 996232 and 996233).
"We are delighted with these early results," stated Company Chairman and CEO Michael R. Sonnenreich, "and will be examining cost effective ways to further explore these targets."
Brian K. Briggs, President and CEO of Tyhee Gold Corp., noted, "We are pleased to have a joint venture partner like Williams Creek Gold, that is willing to develop the Big Sky Property while we are focused on the nearer term development of our Yellowknife Gold Project, beginning with the nearby Ormsby and Nicolas Lake gold properties. With their help and investment, Tyhee is able to ensure that Big Sky receives the attention we are confident it merits."
Mr. Sonnenreich concluded, "Williams Creek is dedicated to increasing shareholder value and, if these positive preliminary results continue, we see the Big Sky property as an excellent addition."
Williams Creek recently completed a soil geochemical program on its wholly owned Ahbau Lake property, and is awaiting assay results.
The Chubby Bear and Ahbau Creek properties, acquired from New Gold Inc. (News Release WCX12-03, March 7/12), are currently the subject of ongoing geochemical soil sampling programs.
The technical information contained in this news release was prepared by Michael B. Regular, P.Geo., a "Qualified Person" as defined under National Instrument 43-101. Mr. Regular conducted the 2012 Big Sky program. Mr. Regular is an independent consultant to Williams Creek.
About Williams Creek Gold Limited (WCX)
Visit to learn more about Williams Creek Gold Limited.
Williams Creek Gold Limited is a Canadian company with the primary purpose of participating broadly in the natural resource sector, with an emphasis on the gold subsector, through exploration, joint ventures or other equity investments, royalty and finance agreements.
Williams Creek Gold Limited owns twenty-eight Crown Granted mineral claims known as the Barkerville Project in the immediate vicinity of Barkerville, BC in the Cariboo mining division. The Cariboo gold belt and the Barkerville Camp have a long history of gold production dating back to the 1800s. Historically the Barkerville Camp has reported gold production of 3.8 million ounces, including 2.6 million ounces from surface placer and 1.2 million ounces from lode mining. When placer gold production peaked in the late 1890s, Williams Creek Gold's Black Jack (District Lot 1B), Home Stake (District Lot 4B), Cornish (District Lot 1F) and Wintrip (District Lot 32F) Crown Granted mineral claims were among the first acquired in the early search for lode gold.
Williams Creek Gold Limited also owns a block of four mineral claims 17km west of Barkerville known as the Pine Properties. The Company has three Crown Granted mineral claims in the Kamloops Mining Division, two of which are adjacent to New Gold's New Afton project. Williams Creek Gold Limited also owns the Ahbau Creek, Chubby Bear and Ahbau Lake claim groups in Central British Columbia.
Williams Creek Gold is earning a 50% interest through a joint venture with Tyhee Gold Corp. in the Big Sky Property north of Yellowknife, NWT.
Additionally, Williams Creek Gold Limited has a net 30% interest in the ATW diamond property in the MacKenzie Mining District of the Northwest Territories. Williams Creek also holds the BOPS Project consisting of 32 unpatented lode mining claims in Pershing County, Nevada.
On behalf of the Board of Directors,
Michael R. Sonnenreich, Chairman and CEO
Williams Creek Gold Limited
This news release may contain forward-looking statements including management's assessments of future plans and operations, and expectations of future production. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to, the risks associated with the mining and exploration industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production and the uncertainty of the availability of capital). The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of this news release which has been prepared by management.
Contacts:
Williams Creek Gold Limited
Michael R. Sonnenreich
Chairman and CEO
778.370.1393
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Datum: 18.09.2012 - 19:00 Uhr
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