Winston Gold Mining Corp.
OTCQB : WGMCF
CSE : WGC
CSE : WGC.CN

March 28, 2017 07:30 ET

Drilling Extends Vein Structures: Results Include 26.5 g/t Gold and 97.71 g/t Silver Over 1 ft.

WINNIPEG, MANITOBA--(Marketwired - March 28, 2017) - Winston Gold Mining Corp. ("Winston Gold" or the "Corporation") (CSE:WGC)(CSE:WGC.CN)(OTCQB:WGMCF) is pleased to announce drilling has extended the strike length of the Block 93 vein structure farther to the west. The vein now has been traced over a strike length of about 246 ft. (75 metres), and to a vertical extent of 192 ft. (58.5 metres) on the Company's wholly-owned Winston Gold Property near Helena Montana.

"These new results show that the Block 93 vein has significant vertical and horizontal extent," commented Murray Nye, CEO and Director of Winston Gold Mining. "A number of previously unknown veins were also encountered in both the hanging wall and foot wall of the Block 93 structure. However, it is still too early to speculate if these veins are continuous and/or related to that vein structure."

Previously announced drill results (March 1st, 2017) confirmed the existence of two high grade veins dubbed the Parallel and Block 93 veins. These veins were identified from historic drill data from the 1980's.

A total of six new holes were collared on a drill pad, located about 80 ft. (24.4 metres) southeast from the spot where holes W1727, W1728 and W1729 were collared. These new holes were drilled in a fan configuration and were designed to extend the strike length of the Block 93 vein structure.

The holes tested an additional 198 ft. (60.3 metres) strike length of the Block 93 Vein. Refer to attached drill plan map. Highlights of the Results include:

  • Hole W65 intersected three veins in the footwall (beneath) the Block 93 vein. The first intersection cut 1 ft. (0.3 metres) averaging 0.121 opt (4.15 g/t) gold and 0.46 opt (15.77 g/t) silver starting 77 ft. (23.5metres) down-hole. No previously known vein is associated with it. The hole also intersected 0.5 ft. (0.15 metre) averaging 0.235 opt (8.06 g/t) gold and 0.23 opt (7.89 g/t) silver 164.5 ft. (50.1 metres) down-hole. This too is still in the footwall of Block 93. Unfortunately there were no significant intercepts in the Block 93 vein. This may be a result of the nugget effect in the vein system.

  • Hole W66 hit another previously unknown vein in the hanging wall (above) the Block 93 vein. At a depth of 311 ft (94.8 metres) the hole cut a 4 ft. (1.22 metres) interval averaging 0.223 opt (7.65 g/t) gold. This included a 1 ft (0.3 metre) section that averaged 0.773 opt (26.5 g/t) gold and 2.85 opt (97.71 g/t) silver. The actual Block 93 intercept was at a depth of 277.5 ft (84.58 metres) down-hole and averaged 0.368 opt (12.62 g/t) gold and 0.95 opt (32.57 g/t) silver over a 1 ft (0.3 metre) interval.

  • Hole W67 intersected 2 ft (0.61 metres) averaging 0.116 opt (3.98 g/t gold) and 0.14 opt (4.80 g/t) silver starting 300 ft (91.4 metres) down hole. This is believed to be part of the Block 93 vein.

  • Hole W68 intersected 3 ft (0.91 metres) averaging 0.164 opt (5.62 g/t) gold starting 91 ft. (27.7 metres) down-hole. This included a 1.3 ft. (0.4 metre) interval averaging 0.312 opt (10.70 g/t) gold and 0.53 opt (18.17 g/t) silver. This is a vein in the footwall of Block 93 and is possibly associated with the intercept in W65. Further down-hole at a depth of 310.5 ft. (94.6 metres) the drill cut a 3.5 ft. (1.07 metre) interval averaging 0.284 opt (9.74 g/t) gold. This included a 1.5 ft (0.46 metre) section that averaged 0.436 opt (14.95 g/t) gold and 0.53 opt (18.17 g/t) silver. This is believed to be the Block 93 vein.

  • Hole W70 intersected a 1.5 ft (0.46 metre) interval averaging 0.674 opt (23.11 g/t) gold and 0.55 opt (18.86 g/t) silver starting 325.5 ft down-hole. This is believed to be the Block 93 vein. Assays results are still pending in this hole for samples taken on either side of this vein.

Refer to chart below for details of the drill holes discussed in this release. The dips of the veins are currently unknown at this time so true width cannot be accurately determined.

Hole Vein UTM North
(m)
UTM East
(m)
Elevation
(m)
Azimuth Dip From
(ft.)
To
(ft.)
Interval
(ft.)/(m)
Gold (opt)/(g/t) Silver
(opt)/(g/t)
W65 Unknown 448,640 5,143,768 1461.2 335 -45 77 78 1 0.3 0.121 4.15 0.46 15.77
Unknown 164.5 165 0.5 0.15 0.235 8.06 0.23 7.89
Unknown 229 230 1 0.30 0.129 4.42 0.27 9.26
W66 Unknown 448,640 5,143,768 1461.2 355 -45 222 223 1 0.30 0.261 8.95 0.40 13.71
Unknown 227 228 1 0.30 0.514 17.62 0.81 27.77
Block 93 277.5 278.5 1 0.30 0.368 12.62 0.95 32.57
Unknown 311 315 4 1.22 0.223 7.65 --
Including 314 315 1 0.30 0.773 26.50 2.85 97.71
W67 Block 93 448,640 5,143,768 1461.2 320 -45 300 302 2 0.61 0.116 3.98 0.14 4.80
W68 Unknown 448,640 5,143,768 1461.2 305 -45 91 94 3 0.91 0.164 5.62
including 91 92.3 1.3 0.40 0.312 10.70 0.65 22.29
Block 93 310.5 314 3.5 1.07 0.284 9.74
including 310.5 312 1.5 0.46 0.436 14.95 0.53 18.17
W69 Unknown 448,640 5,143,768 1461.2 305 -55 61.5 63 1.5 0.46 0.04 1.37 0.06 2.06
Unknown 82.5 83.5 1 0.30 0.041 1.41 0.08 2.74
W70 Unknown 448,640 5,143,768 1461.2 285 -45 108 109 1 0.30 0.113 3.87 0.34 11.66
Block 93* 325.5 327 1.5 0.46 0.674 23.11 0.55 18.86
*Assays still pending for samples taken on either side of the vein structure

The Winston Gold Project is central to a historic precious and base metal mining district in which most of the ore was mined from tightly structurally controlled high angle fissure veins and lode/replacement zones. Reports indicate that more than 100,000 ounces of gold was recovered from these underground mines in the late 19th to early 20th century from about 150,000 tons of ore. (Earle, 1964; Schell, 1963).

Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance

All sampling was conducted under the supervision of the Company's project geologists and the chain of custody from the drill to the on-site sample preparation facility was continuously monitored. The samples are crushed, pulverized and the sample pulps digested and analyzed for gold using fire assay fusion and a 50 gram gravimetric finish. Blank or certified reference materials are inserted randomly. Check Assays are sent to Bureau Veritas Minerals, in Reno Nevada.

Qualified Person

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by Dr. Criss Capps PhD. P.Geol., an independent consultant to Winston Gold Corp. Dr. Capps is a Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Winston Gold

Winston Gold is a junior mining company focused on advancing high-grade, low cost mining opportunities into production. Towards that end, the Corporation has acquired two under-explored and under-exploited gold/silver mining opportunities, being the Winston Gold project near Helena, Montana, and the Gold Ridge project, near Willcox, Arizona.

On behalf of the Board of Directors of the Company,

Murray Nye, Chief Executive Officer and a director of Winston Gold

The CSE has neither approved nor disapproved the information contained herein.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward-Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Winston Gold Mining Corp. (the "Company") expects to occur, are forward- looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

A map is available at the following address: http://media3.marketwire.com/docs/1089958_plan_view_of_recent_drilling.pdf

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