Williams Creek Gold Limited

Williams Creek Gold Limited

August 08, 2011 09:17 ET

Williams Creek Gold Limited Reports Additional Results from Its Phase I Drilling Program on its Barkerville Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 8, 2011) - Williams Creek Gold Limited (TSX VENTURE:WCX) ("Williams Creek," or "the Company") is pleased to announce the results for Drill Hole 11-20, drilled as part of its 2011 exploration program on the Company's Barkerville property. The property consists of 28 Crown Granted mineral claims east of Barkerville Gold Mines' Bonanza Ledge pit, currently pending permitting, and adjacent to the Barkerville Historic Site.

Drill Hole 11-20 was drilled on the Morning Star Crown Granted mineral claim in the northwestern part of the Williams Creek claim block. Significant intercepts are summarized below.

The main gold zone extends from 792.0 feet through 854.5 feet for a total of 62.5 feet (19.1 meters) at a grade of 2.60 grams per metric tonne (0.08 ounce per ton) including an interval from 792.0 feet to 817.0 feet for a total of 25 feet (7.6 meters) grading 5.08 grams per metric tonne (0.15 ounce per ton). The hole was still in the strong pyritic vein zone when it had to be terminated at 877.0 feet because all available drill rods had been used.

Hole Number Angle Azimuth
WCX-11-20 -45 030

Intercept (ft) Interval Intercept (m) Interval Gold Grade
From To (ft) From To (m) (Grams/Metric Tonne)
599.5 603.0 3.5 182.7 183.8 1.1 23.5
640.0 646.8 6.8 195.1 197.1 2.0 4.89
748.0 751.0 3.0 227.9 228.9 1.0 13.5
751.0 753.0 2.0 228.9 229.5 0.6 13.2
753.0 754.7 1.7 229.5 230.0 0.5 2.29
792.0 794.0 2.0 241.4 242.0 0.6 11.8
794.0 795.5 1.5 242.0 242.5 0.5 0.44
795.5 797.0 1.5 242.5 242.9 0.4 1.84
797.0 807.0 10.0 242.9 246.0 3.0 4.73
807.0 812.0 5.0 246.0 247.5 1.5 1.64
812.0 817.0 5.0 247.5 249.0 1.5 8.91
817.0 821.0 4.0 249.0 250.2 1.2 0.22
821.0 822.0 1.0 250.2 251.5 0.3 3.38
822.0 824.0 2.0 250.5 251.2 0.7 1.06
824.0 827.0 3.0 251.2 252.1 0.9 3.27
827.0 830.0 3.0 252.1 253.0 0.9 0.19
830.0 833.0 3.0 253.0 253.9 0.9 1.88
833.0 837.0 4.0 253.9 255.1 1.2 0.38
837.0 847.0 10.0 255.1 258.2 3.o 0.48
847.0 852.0 5.0 258.2 259.7 1.5 1.22
852.0 854.5 2.5 259.7 260.5 0.8 0.122

This drill hole explores a gold trend that was suspected to be present based on the results of historic drilling to the northwest. This new zone occurs approximately 1,000 meters northwest of a second vein zone reported previously for Drill Holes 11-1 through 11-6 (See News Release dated July 7, 2011). The mineralization in Drill Hole 11-20 is hosted in dark grey quartzite and black argillite and includes numerous quartz veins with up to 80% pyrite. The main mineralized zone is structurally complex and includes numerous gouge and breccia zones. The veins appear to be part of a disrupted sheeted or stockwork system based on the variations in angles between the veins and the core axis.

Michael R. Sonnenreich, Chairman and CEO of Williams Creek, commented "We are pleased with the results from Hole 11-20. This hole has confirmed the presence of a vein system with significant width and grade in an area of limited historical drilling. We intend to follow up on this zone as well as the vein system reported earlier in the Stouts Gulch area in our Phase II drilling program planned for early fall 2011."

Williams Creek is also pleased to announce the completion of its soil sampling program on its Pine group of mineral claims in the Stanley area west of Barkerville. A total of 135 samples were collected (assays pending) during a six day program to follow up on previously identified anomalous areas.

The technical information in this news release has been reviewed and approved by consulting geologist John F. Childs, PhD., Childs Geoscience Inc. Consulting Economic Geologists of Bozeman Montana, a qualified person as defined in National Instrument 43-101.

On behalf of the Board of Directors,

Michael R. Sonnenreich, Chairman and CEO

About Williams Creek Gold Limited (WCX)

Visit http://www.WilliamsCreek.ca to learn more about Williams Creek Gold Limited.

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.

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
    Chairman and CEO
    (778) 370-1393
    (604) 688-1320 (FAX)