Williams Creek Gold Limited
TSX VENTURE : WCX

Williams Creek Gold Limited

September 09, 2011 09:00 ET

Williams Creek Gold Limited Commences Phase II Exploration Program on its Barkerville Properties

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 9, 2011) - Williams Creek Gold Limited ("Williams Creek", "WCX", or "the Company") (TSX VENTURE:WCX) is pleased to announce the start of its Phase II exploration program on its 100% owned Barkerville Crown Granted mineral claims. The drill and crew have been mobilized and drilling began on September 8, 2011.

The Phase II program is anticipated to include between 4,572 and 7,620 metres (15,000 to 25,000 feet) of diamond drilling, dependent on results. The drilling program will test portions of a two square kilometre area of interest west and south of Barkerville Historic Town. Drilling locations were selected based on a thorough review of results from Williams Creek's Phase I drill program. Results from the Phase I 4,926 metre (16,164 foot) drill program identified two potential exploration targets. Drill holes WCX-11-01 through WCX-11-06, due south of Barkerville Historic Town, returned very encouraging results that require follow up drilling (see Williams Creek News Release, July 7, 2011) as did drill hole WCX-11-20 in the northwestern section of the claims (see Williams Creek News Release, August 8, 2011). Follow up drilling is planned in both areas as part of the Phase II program.

A geological mapping and sampling program is underway on both the Barkerville and Pine Properties. This geological investigation will better define existing targets and may result in the identification of additional targets.

"Williams Creek is very committed to exploring its holdings in the Barkerville area," said Michael R. Sonnenreich, Chairman and CEO of Williams Creek. "A systematic program of exploration is a good example of the exploration component of Williams Creek three-part strategy of exploration, investment and joint venture, and financing."

The 2011 field program is being conducted under the supervision of John F. Childs, PhD., Childs Geoscience Inc. Consulting Economic Geologists of Bozeman Montana, who is the project's qualified person as defined by National Instrument 43-101.

The WCX properties lie less than a kilometre east of Barkerville Gold Mines' Bonanza Ledge gold sulphide zone, which is currently in the late stages of the mine permitting process.

The Cariboo gold belt and the Barkerville Camp have a long history of gold production dating back to the 1800s. Historically the Barkerville Camp, which includes later lode production in Wells, BC, 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.

On behalf of the Board of Directors

Michael R. Sonnenreich, Chairman and C.E.O.

About Williams Creek Gold Limited (WCX)

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. 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.

This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events and conditions and therefore involve inherent risks and uncertainties. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. All phases of the Company's operations are subject to environmental regulation and governmental approval and permits and there can be no assurance that the Company will obtain all the requisite permits for future development. Mining is an inherently risky business with large capital expenditures and cyclical metals markets.

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.

Contact Information

  • Williams Creek Gold Limited
    Michael R. Sonnenreich
    (778) 370-1393
    (604) 688-1320 (FAX)
    www.WilliamsCreek.ca