Westcore Energy Ltd.
TSX VENTURE : WTR

Westcore Energy Ltd.

January 23, 2012 12:56 ET

Westcore to Launch Major Winter Drill Program

SASKATOON, SASKATCHEWAN--(Marketwire - Jan. 23, 2012) - WESTCORE ENERGY LTD. - (TSX VENTURE:WTR) ("Westcore" or the "Company") is pleased to announce the upcoming launch of its winter drill program on the Black Diamond and FNR JV projects located near The Pas, Manitoba.

All contractors have been engaged and governmental work permits have been granted authorizing Westcore to drill a maximum of 58 boreholes for up to 8,700 metres on its properties in Manitoba. Winter ice road construction to all targets is underway with drilling anticipated to start in early February.

The winter program has two primary objectives. The first is to delineate previously identified deposits with an aim of incorporating the results into a resource report in compliance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The second is to explore to test several new geophysical anomalies identified from interpretations of both the 2010 and 2011 airborne surveys.

Black Diamond Property MB

Extensive delineation drilling is planned for incorporation into a NI 43-101 report on the Calypso, Athena, Ambit, Cyclops and Discovery deposits at Black Diamond. The Company also plans to conduct exploratory drilling on two new targets with significant geophysical anomalies. In total; it is anticipated that the Company will drill between 30 and 38 holes on this property for a total of approximately 3,600 metres.

FNR JV Property MB

The drill program for the FNR JV program is to complete delineation drilling on the Quasar deposit for incorporation into a NI 43-101 report. Drilling is also planned to explore a large new target with similar geophysical characteristics to deposits on Westcore's Black Diamond properties. The Company anticipates completing between 15 and 20 holes for a total of approximately 2,200 metres of drilling.

Hudson Bay North SK

The Company continues to analyze potential drill targets on the Hudson Bay North property. Targets will be modified based on the success of drilling similar targets on its properties in Manitoba. Westcore has received approval from the Government of Saskatchewan to carry out a 20 hole drill program within the next fifteen months.

Paul Conroy, President and CEO of Westcore states "We are very excited to announce our 2012 winter drilling program. This program was carefully planned to be both cost effective and to give the best possible chance of success at achieving our stated objectives with existing capital. We look forward to providing further updates at regular intervals in the coming weeks detailing our progress."

Reader Advisory

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Contact Information

  • Westcore Energy Ltd.
    Paul Conroy
    President and Chief Executive Officer
    (306) 649-0600
    www.westcoreenergy.ca