Westcore Energy Ltd.
TSX VENTURE : WTR.P

April 09, 2009 13:19 ET

Westcore Announces Drilling of 33 Metre Coal Zone at Black Diamond Project, Manitoba, Near Hudson Bay, Saskatchewan

CALGARY, ALBERTA--(Marketwire - April 9, 2009) - WESTCORE ENERGY LTD. (TSX VENTURE:WTR.P) (the "Corporation" or "Westcore"), a capital pool company, is pleased to announce preliminary drilling results in respect of the Manitoba portion of the properties that it has agreed to acquire as its Qualifying Transaction (as previously referenced in press releases dated August 21, 2008, December 12, 2008 , January 15, 2009 and March 31, 2009). Accompanying this news release is a map which shows the properties upon which the coal permits that Westcore has agreed to acquire apply. The total acreage of the land that is the subject of these permits is approximately 200,835 acres (81,277 hectares), with approximately 48,036 acres (19,440 HA) being in Manitoba and approximately 152,799.22 acres (61,837 HA) being in Saskatchewan. On behalf of the Vendors of such properties, Mr. William MacNeill has advised Mr. Paul Conroy, President of Westcore, that a preliminary drilling campaign has been commenced on the Black Diamond property in Manitoba, immediately east of the Goldsource Mines Inc. Border Property and has resulted in a new coal zone discovery.

Mr. MacNeill advises that hole number one (WTR09-01) was the discovery hole and intersected a 33.0 metre coal zone at a depth of 29.6 metres from surface. A total of 5 NQ size holes were drilled for a total of 377.3 metres until spring breakup regulations halted drilling activity.

The second hole (WTR09-02) was drilled approximately 250 metres north-northwest of the discovery hole and intersected a coal zone immediately below the overburden from 22.4 to 31.4 metres for a true thickness of 9.0 metres.

The third hole (WTR09-03) was drilled approximately 250 metres due south of the discovery hole and hit the same coal zone, from 25.8 to 51.5 metres depth for a true thickness of 25.8 metres, including minor sandy partings.

The fourth and fifth holes (WTR09-04 and WTR09-05) were drilled approximately 300 metres east and 250 metres north of the discovery hole, respectively. No coal was intersected in these holes.

Mr. Conroy stated that "we are very pleased and appreciative of the work conducted to date by the Vendors and we are thrilled to hear of these preliminary results from the Manitoba property. In anticipation of completing the acquisition of these permits in early May, we will be planning additional summer exploration programs on the Saskatchewan properties located immediately north and south of the Goldsource Mines Inc. Border project. Several high priority coal targets on the Saskatchewan properties have been identified from a Fugro airborne geophysical survey and we are excited to examine those and further develop our understanding of the overall area geology. We will also plan on going back into the Manitoba Black Diamond property to continue the exploration program there that the Vendors have commenced as soon as conditions permit."

The coal is black, shiny to dull, and appears to be consistent with the descriptions of the subbituminous/bituminous coal descriptions reported by Goldsource Mines Inc. Initial identification of the coal zones and total coal thickness described in this news release is based on visual characteristics. The Corporation cautions against placing undue reliance on the visual observations of the coal until the results of the analytical work have been completed and announced. The Vendors have advised that they expect to submit forty core samples to Loring Labs in Calgary for initial proximate analyses (ash, fixed carbon, moisture, thermal energy, etc.). The results of that analysis will be reported when received.

Tabetha A. Stirrett, P. Geo and Qualified Person for this news release has reviewed and approved its contents.

Other Information

Except for statements of historical fact relating to the Corporation, certain information contained herein may constitute forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Except as required by applicable securities requirements, the Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

To view an image of Westcore Target Property Location Map, please click the link below:

http://media3.marketwire.com/docs/Westcore.pdf

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 the release.

Contact Information

  • Westcore Energy Ltd.
    Paul Conroy
    President and Chief Executive Officer
    (403) 697-4005
    (403) 263-0271 (FAX)