VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 6, 2011) - Williams Creek Gold Limited (TSX VENTURE:WCX) ("Williams Creek," "WCX," or "the Company") is pleased to announce that it has staked 32 unpatented lode mining claims in Pershing County, Nevada, approximately 40 miles south of Battle Mountain. The claims, referred to as the BOPS Project, are a new discovery resulting from a regional reconnaissance exploration program begun by Williams Creek in the spring of 2011. The property lies within the Northern Nevada Rift, a significant major crustal feature in northern and central Nevada that appears to be a critical component in the genesis of economic precious metals deposits in this part of the state.
The property lies close to the termination of a linear trend of historic mercury mines and prospects and is in an area that has previously been explored only in a limited fashion. The proposed model for the type of deposit that Williams Creek envisions at BOPS is an epithermal, hot springs gold-silver (Au-Ag) system similar to numerous other gold deposits in Nevada.
The alteration exposed at the surface is interpreted as representing the uppermost level of the hot springs model, with the potential for both disseminated low-grade mineralization and possible vein or stockwork type deposits at depth. The project requires an exploration program based on a multidisciplinary approach, including surface geochemical sampling, ground-based geophysical surveys and eventually moderate to deep exploration drilling. The nearest known gold deposit is at Goldbanks, roughly 15 miles to the northwest. The mineralization at Goldbanks starts at a depth of approximately 45 meters to 60 meters below the current ground surface. Prior to the 1960's, the upper level opalite deposits at Goldbanks were exploited for mercury. Geologic mapping at BOPS has identified a similar opalite with a strike length of nearly 1.5 km with a yet-to-be-determined overall thickness. The Goldbanks deposit occurs in a north-south linear basin where coarse Tertiary clastic basin-fill material, unexposed at the surface, is silicified, cut by quartz stockworking, and also includes high-angle narrow high grades enhancing the grade in the silicified units. The basin at BOPS also appears to be linear, with a similar north-south orientation. The Tertiary volcanic and sedimentary units at BOPS are similar in nature to comparable age volcanic and sedimentary units found at Goldbanks. Due to the zoned nature of hot springs Au–Ag deposits, the upper levels are commonly barren of precious metals, making the need for systematic evaluation particularly important. Similar occurrences are found in a number of districts in Nevada, including the Ivanhoe and Midas areas, as well as several examples from the Walker Lane area. Regional aeromagnetic data from the general area of the BOPS Project suggests the possible existence of a buried intrusive body nearby, a good sign that may indicate that the heat engine needed to generate hydrothermal fluid circulation and mobilization of metals, often provided by these unexposed igneous features, may be present at BOPS.
The claims are held by Williams Creek Nevada LLC, a Nevada corporation and wholly owned subsidiary of Williams Creek Gold Limited.
"The BOPS Project is at the earliest stages of exploration and will require diligence and perseverance to determine the nature of the alteration zone and the potential for an exploitable mineral deposit at depth," said Michael R. Sonnenreich, Chairman and CEO of Williams Creek. "The project is at the grass-roots end of a spectrum of properties that Williams Creek is currently engaged with, and, when combined with our assets in British Columbia, exemplifies our approach to the exploration component of WCX's three part strategy of exploration, joint ventures and investment, and financing."
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)
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. 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.
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