Western Pacific Resources Corp.
TSX VENTURE : WRP

Western Pacific Resources Corp.

October 02, 2014 11:18 ET

Western Pacific Drilling Encounters High Grade Mineralization

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 2, 2014) - Western Pacific Resources Corp. ("Western Pacific" or the "Company") (TSX VENTURE:WRP) is pleased to announce positive results from its ongoing diamond drill program at the Deer Trail Mine, located in Piute County, Utah. On August 20, 2014, a total of 14 holes of a 50 hole program had been completed. These 14 holes consist of 4,052 feet of drilling from two underground drill stations and include grades up to 88.8 g/t gold, 5,180 g/t silver, 15% zinc and 10.6% lead.

Highlights from these first 14 holes are listed in the table below:

Interval Interval Gold Silver
Drill Hole Manto From - To (Feet) Grams/tonne Grams/tonne Lead % Zinc %
DT14-07 S4 30-35 4 20.56 1,192 2.12% 3.38%
Includes 30-31 1 88.8 5,180 10.60% 15.00%
DT14-11 S4 62-70.5 8.5 1.9 332.53 2.83% 4.52%
Includes 62-65.5 3.5 3.99 639 2.37% 4.20%
DT14-13 S4 101-104 3 9.03 734.6 3.35% 6.90%
Includes 101-102 1 26.7 2,170 9.58% 18.45%
DT14-01 S6 136.5-141 4.5 0.812 494 3.90% 17.95%
DT14-12 S4 89.5-92.8 3.3 8.92 717 0.10% 0.48%
DT14-06 S4 26-31.1 5.1 1.18 498 1.04% 3.31%
Includes 28.4-31.1 2.7 2.05 659 0.91% 3.58%
DT14-05 S4 118-119 1 1.87 338 1.30% 8.27%
DT14-04 S6 209.7-213 3.3 3.82 500 3.49% 0.30%

A complete list of assays from drill holes DT14-01 to DT14-14 is located in Appendix 1. Full details of all drill results including assays, hole location, dip and azimuth is available on the company's website at http://westernpacificresources.com/i/pdf/WRP_News-Release_October-2-2014_Drill-Results.pdf. The project contains several structural blocks and there is insufficient data from the existing drilling pierce points to accurately calculate true thickness at this time.

The current drill program is focused in the 3400 area of the mine, and drilling is being performed from the main PTH haulage tunnel. The long section diagram below shows the PTH tunnel and the interpreted orientation of the mineralization.

To view a map associated with this release, please visit the following link: http://media3.marketwire.com/docs/971008_image1.jpg

This area was in production intermittently from 1945 to 1962 and again in 1981. Average reported grades from available historical production were 0.171 ounce per ton gold, 11.61 ounce per ton silver, 2.96% lead and 7.45% zinc. (Source: Unico, INC. Annual Report February 28, 2010). The Company has not completed the work necessary to have the historical data verified by a Qualified Person as defined by NI43-101 and as such these historical estimates should not be relied upon.

"We are very excited that we are seeing a high percentage of high grade intercepts from our drill program, and that the structures are open both up and down dip as well as laterally," stated Michael Callahan, Western Pacific's President and CEO. "The fact that drilling has intersected mineralization in multiple layers, and not just those mined historically, indicates the 3400 area has more potential than previously anticipated. We are also encouraged that the mineralization intercepted in Manto S4 correlates very closely to the high grades reported when the mine was in production."

The drill program has identified seven stacked manto layers while historic mining focused on only one, Manto S4. Drilling to date into Manto S4 confirms the existence of high grade mineralization and the structure is open in all directions. While past mining on S4 was primarily below the main haulage tunnel, Western Pacific's drilling into this structure from Station 2 targeted the structure above the main tunnel and shows it to be open in that direction. Manto S6, which was not explored or mined historically, has also intersected significant mineralization. The Company's first hole (DT14-01) into S6 returned high grade values of 0.812 g/t gold, 494 g/t silver, 17.95% zinc and 3.9% lead over an interval of 4.5 feet.

To view an image associated with this release, please visit the following link: http://media3.marketwire.com/docs/971008_image2.jpg

The entire program when completed will consist of approximately 50 holes and over 18,000 feet from five underground stations. To date, 21 holes and over 7,500 feet from three underground stations have been completed and the Company continues to be pleased with progress.

Plan showing drill station locations

To view an image associated with this release, please visit the following link: http://media3.marketwire.com/docs/971008_image3.jpg

The objective of the drilling is to define a Mineral Resource that will allow the Company to better evaluate the strategy for putting the mine back into production.

Appendix 1: Drill Results from Deer Trail Mine

Hole DT 14-01
Interval Manto Au gram/tonne Ag gram/tonne Pb% Zn%
69.5-74 S5 0.22 59.2 0.19% 0.24%
74-79 S5 0.081 25.6 0.30% 0.74%
79-84 S5 0.375 64.1 0.46% 1.08%
84-88 S5 0.243 62.2 0.33% 1.84%
88-93 S5 0.211 40.6 0.43% 0.77%
123-124 Vein 0.571 223 1.48% 0.21%
136.5-141 S6 0.812 494 3.90% 17.95%
250-254 S7 0.82 156 0.82% 0.29%
321-324 ? 0.055 7.87 low 3.03%
324-329.5 ? 0.131 8.23 low 2.52%
Hole DT 14-02
Interval Manto Au gram/tonne Ag gram/tonne Pb% Zn%
51.6-53.0 Vein 0.598 120 0.74% low
103-104.1 S6 0.132 37.2 2.12% 0.46%
343.8-344.8 Vein 0.735 99 3.70% 9.04%
Hole DT 14-03
Interval Manto Au gram/tonne Ag gram/tonne Pb% Zn%
74-76 S6 0.167 43.6 0.83% 0.87%
76-80.5 S6 0.162 92.1 0.39% 0.44%
80.5-83.5 S6 0.145 108 low 0.17%
228.5-229.5 S7 2.02 313 1.06% 2.78%
Hole DT 14-04
Interval Manto Au gram/tonne Ag gram/tonne Pb% Zn%
153-157 Vein 0.485 535 0.64% 0.07%
188-189 S5? 0.032 48.8 0.09% 1.26%
189-193 S5? 0.099 54.3 0.29% 6.66%
193-195 S5? 0.127 54.6 2.20% 2.23%
195-200 S5? 0.05 2.56 0.01% 0.00%
209.7-213 S6 3.82 500 3.49% 0.30%
Hole DT 14-05
Interval Manto Au gram/tonne Ag gram/tonne Pb% Zn%
5.5-8.7 Vein 0.492 100 0.07% 0.05%
26.8-32 S5 0.235 147 0.28% 0.94%
118-119 S4 1.865 338 1.30% 8.27%
Hole DT 14-06
Interval Manto Au gram/tonne Ag gram/tonne Pb% Zn%
25-26 S4 0.027 10.7 0.18% 2.79%
26-28.4 S4 0.205 316 1.18% 3.01%
28.4-31.1 S4 2.05 659 0.91% 3.58%
31.1-35.5 S4 0.959 132 0.45% 0.69%
Hole DT 14-07
Interval Manto Au gram/tonne Ag gram/tonne Pb% Zn%
30-31 S4 88.8 5180 10.60% 15.00%
31-35 S4 3.5 195 Low 0.47%
Hole DT 14-08 Drilled into old workings
Hole DT 14-09 Drilled into overburden
Hole DT 14-10 No significant assays
Hole DT 14-11
Interval Manto Au gram/tonne Ag gram/tonne Pb% Zn%
62-65.5 S4 3.99 639 2.37% 4.20%
65.5-70.5 S4 0.443 118 3.15% 4.74%
Hole DT 14-12
Interval Manto Au gram/tonne Ag gram/tonne Pb% Zn%
89.5-92.8 S4 8.92 717 0.10% 0.48%
Hole DT 14-13
Interval Manto Au gram/tonne Ag gram/tonne Pb% Zn%
63.3-64.7 S5 0.579 60.5 0.41% 0.72%
91.5-96.4 Vein 0.461 34.8 0.05% 0.20%
96.4-101 S4 0.217 27.5 0.08% 0.22%
101-102 S4 26.7 2170 9.58% 18.45%
102-104 S4 0.191 16.85 0.23% 1.13%
195-198 Vein 0.427 53.3 0.28% 0.28%
198-202.5 Vein 1.03 84 0.07% 0.09%
202.5-204 Vein 1.56 117 0.17% 0.10%
204-209 Vein 3.54 262 0.40% 0.35%
Hole DT 14-14
Interval Manto Au gram/tonne Ag gram/tonne Pb% Zn%
150.7-155.7 S6 0.201 146 2.03% 3.28%
155.7-158 S6 0.304 157 0.24% 1.08%
195.5-200.8 S7 0.083 42.2 0.49% 0.71%
200.8-205.4 S7 0.344 94.1 0.64% 1.45%

Core recovery for the holes reported in this release was high, averaging greater than 99%. Industry standard QA/QC programs are carried out and maintained on the DTM 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.

Qualified Person

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

Michael Callahan, President & CEO

For more information visit the Company's website at www.westernpacificresources.com.

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.

Contact Information

  • Western Pacific Resources Corp.
    Fiona Grant Leydier
    Investor Relations
    (604) 692-2891
    info@wrpv.ca