Owner
Post by Franko10 ™ on May 8, 2006 13:25:53 GMT -5
Wescan Goldfields Inc. - Drilling resumes at Jasper
Stock Symbol: WGF: TSX-VEN
SASKATOON, May 4 /CNW/ - Wescan Goldfields Inc. ("Wescan") is pleased to
report that diamond drilling and surface exploration activities have resumed
on the Fork Lake property. Wescan has received regulatory approval to drill
9,500 meters of NQ diamond drill core; to clear a trail along the south strike
continuation of the Transect Zone and to rehabilitate the former Decade mine
road.
The 9,500 meter drill program is designed to:
1. Drill-test the continuation of the Deep Jasper (DJ) and Roxy zones to
the north-east.
2. Drill-test the continuation of the JN-Footwall and JN-East zones along
strike and at depth, where previous drill intersections produced up to
15.75 g/t over 0.90 meters (core length). These are newly discovered
near surface gold zones are situated close to the former mine workings
and represent excellent targets.
3. Drill-test the continuation of the zones intersected in DL-06-03 and
DL-06-09 along the Transect Zone, where previous drill intersections
of up to 12.07 g/t over 1.0 meter (core length) have been realized.
Clearing of a trail along the south strike extension of the Transect Zone
will allow access to this prospective target area after which a soil sampling,
prospecting and geological mapping campaign will be initiated. Also, clearing
of the former Decade mine road to the northeast part of the property will
allow a more detailed evaluation of additional existing targets.
A computer-generated Geological Model of the gold zones around the former
mine workings (DJ, Roxy, JN-Footwall, JN-East and lower grade mineralization
left in place adjacent to previously mined stopes) is in process. This model
will help with planning of future drilling and will also be used to generate a
National Instrument 43-101 compliant Mineral Resource estimate.
The final drill holes of the previous drill campaign (holes JS-06-29,
JS-06-30, DL-06-12 and DL-06-13) did not indicate any significant assay
results.
Frank Hrdy, Wescan's Exploration Manager, states: "The exploration
permits for the 2006/07 season were finalized on Friday, April 7th and
drilling resumed immediately. The focus at Jasper this year is to continue to
outline the DJ Zone to the north-east until it is determined that a sufficient
resource is inferred to warrant an underground initiative. The north-east
extension of the Roxy Zone and the JN-Footwall and JN-East Zones will also be
evaluated.
The regional exploration program is designed to develop access to many of
the previously and recently discovered drill, geochemical and geophysical
anomalies so exploration crews can continue to evaluate these targets."
The diamond drill program and exploration program was designed,
supervised and reported on by Frank Hrdy, MSc., MBA, P.Geo., Wescan's
Exploration Manager. Mr. Hrdy is a member of the Association of Professional
Engineers and Geoscientists in the Provinces of Saskatchewan and Manitoba and
pending in Ontario. He has reviewed this News Release and is a Qualified
Person in accordance with National Instrument 43-101.
Wescan is a Canadian based corporation engaged in the acquisition,
exploration and development of mineral properties. Shares of the Company trade
on the TSX Venture Exchange under the trading symbol "WGF"
Caution Regarding Forward-Looking Statements
From time to time, Wescan makes written or oral forward-looking
statements within the meaning of certain securities laws, including the "safe
harbor" provisions of the Ontario Securities Act and the United States Private
Securities Litigation Reform Act of 1995. Wescan may make such statements in
this press release, in other filings with Canadian regulators or the United
States Securities and Exchange Commission, in reports to shareholders or in
other communications. These forward-looking statements include, among others,
statements with respect to Wescan's objectives for the ensuing year, our
medium and long-term goals, and strategies to achieve those objectives and
goals, as well as statements with respect to our beliefs, plans, objectives,
expectations, anticipations, estimates and intentions. The words "may,"
"could," "should," "would," "suspect," "outlook," "believe," "plan,"
"anticipate," "estimate," "expect," "intend," and words and expressions of
similar import are intended to identify forward-looking statements. In
particular, statements regarding Wescan's future operations, future
exploration and development activities or other development plans contain
forward-looking statements.
All forward-looking statements and information are based on Wescan's
current beliefs as well as assumptions made by and information currently
available to Wescan concerning anticipated financial performance, business
prospects, strategies, regulatory developments, development plans,
exploration, development and mining activities and commitments. Although
management considers these assumptions to be reasonable based on information
currently available to it, they may prove to be incorrect.
By their very nature, forward-looking statements involve inherent risks
and uncertainties, both general and specific, and risks exist that
predictions, forecasts, projections and other forward-looking statements will
not be achieved. We caution readers not to place undue reliance on these
statements as a number of important factors could cause the actual results to
differ materially from the beliefs, plans, objectives, expectations,
anticipations, estimates and intentions expressed in such forward-looking
statements. These factors include, but are not limited to, developments in
world gold markets, risks relating to fluctuations in the Canadian dollar and
other currencies relative to the US dollar, changes in exploration,
development or mining plans due to exploration results and changing budget
priorities of Wescan or its joint venture partners; the effects of competition
in the markets in which Wescan operates; the impact of changes in the laws and
regulations regulating mining exploration and development; judicial or
regulatory judgments and legal proceedings; operational and infrastructure
risks and the additional risks described in Wescan's most recently filed
annual and interim MD&A and Wescan's anticipation of and success in managing
the foregoing risks.
Wescan cautions that the foregoing list of factors that may affect future
results is not exhaustive. When relying on our forward-looking statements to
make decisions with respect to Wescan, investors and others should carefully
consider the foregoing factors and other uncertainties and potential events.
Wescan does not undertake to update any forward-looking statement, whether
written or oral, that may be made from time to time by Wescan or on our
behalf.
"The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy of this release"
For further information: Frank Hrdy, Exploration Manager or Wade
MacBain, Corporate Development at (306) 664-2422
Stock Symbol: WGF: TSX-VEN
SASKATOON, May 4 /CNW/ - Wescan Goldfields Inc. ("Wescan") is pleased to
report that diamond drilling and surface exploration activities have resumed
on the Fork Lake property. Wescan has received regulatory approval to drill
9,500 meters of NQ diamond drill core; to clear a trail along the south strike
continuation of the Transect Zone and to rehabilitate the former Decade mine
road.
The 9,500 meter drill program is designed to:
1. Drill-test the continuation of the Deep Jasper (DJ) and Roxy zones to
the north-east.
2. Drill-test the continuation of the JN-Footwall and JN-East zones along
strike and at depth, where previous drill intersections produced up to
15.75 g/t over 0.90 meters (core length). These are newly discovered
near surface gold zones are situated close to the former mine workings
and represent excellent targets.
3. Drill-test the continuation of the zones intersected in DL-06-03 and
DL-06-09 along the Transect Zone, where previous drill intersections
of up to 12.07 g/t over 1.0 meter (core length) have been realized.
Clearing of a trail along the south strike extension of the Transect Zone
will allow access to this prospective target area after which a soil sampling,
prospecting and geological mapping campaign will be initiated. Also, clearing
of the former Decade mine road to the northeast part of the property will
allow a more detailed evaluation of additional existing targets.
A computer-generated Geological Model of the gold zones around the former
mine workings (DJ, Roxy, JN-Footwall, JN-East and lower grade mineralization
left in place adjacent to previously mined stopes) is in process. This model
will help with planning of future drilling and will also be used to generate a
National Instrument 43-101 compliant Mineral Resource estimate.
The final drill holes of the previous drill campaign (holes JS-06-29,
JS-06-30, DL-06-12 and DL-06-13) did not indicate any significant assay
results.
Frank Hrdy, Wescan's Exploration Manager, states: "The exploration
permits for the 2006/07 season were finalized on Friday, April 7th and
drilling resumed immediately. The focus at Jasper this year is to continue to
outline the DJ Zone to the north-east until it is determined that a sufficient
resource is inferred to warrant an underground initiative. The north-east
extension of the Roxy Zone and the JN-Footwall and JN-East Zones will also be
evaluated.
The regional exploration program is designed to develop access to many of
the previously and recently discovered drill, geochemical and geophysical
anomalies so exploration crews can continue to evaluate these targets."
The diamond drill program and exploration program was designed,
supervised and reported on by Frank Hrdy, MSc., MBA, P.Geo., Wescan's
Exploration Manager. Mr. Hrdy is a member of the Association of Professional
Engineers and Geoscientists in the Provinces of Saskatchewan and Manitoba and
pending in Ontario. He has reviewed this News Release and is a Qualified
Person in accordance with National Instrument 43-101.
Wescan is a Canadian based corporation engaged in the acquisition,
exploration and development of mineral properties. Shares of the Company trade
on the TSX Venture Exchange under the trading symbol "WGF"
Caution Regarding Forward-Looking Statements
From time to time, Wescan makes written or oral forward-looking
statements within the meaning of certain securities laws, including the "safe
harbor" provisions of the Ontario Securities Act and the United States Private
Securities Litigation Reform Act of 1995. Wescan may make such statements in
this press release, in other filings with Canadian regulators or the United
States Securities and Exchange Commission, in reports to shareholders or in
other communications. These forward-looking statements include, among others,
statements with respect to Wescan's objectives for the ensuing year, our
medium and long-term goals, and strategies to achieve those objectives and
goals, as well as statements with respect to our beliefs, plans, objectives,
expectations, anticipations, estimates and intentions. The words "may,"
"could," "should," "would," "suspect," "outlook," "believe," "plan,"
"anticipate," "estimate," "expect," "intend," and words and expressions of
similar import are intended to identify forward-looking statements. In
particular, statements regarding Wescan's future operations, future
exploration and development activities or other development plans contain
forward-looking statements.
All forward-looking statements and information are based on Wescan's
current beliefs as well as assumptions made by and information currently
available to Wescan concerning anticipated financial performance, business
prospects, strategies, regulatory developments, development plans,
exploration, development and mining activities and commitments. Although
management considers these assumptions to be reasonable based on information
currently available to it, they may prove to be incorrect.
By their very nature, forward-looking statements involve inherent risks
and uncertainties, both general and specific, and risks exist that
predictions, forecasts, projections and other forward-looking statements will
not be achieved. We caution readers not to place undue reliance on these
statements as a number of important factors could cause the actual results to
differ materially from the beliefs, plans, objectives, expectations,
anticipations, estimates and intentions expressed in such forward-looking
statements. These factors include, but are not limited to, developments in
world gold markets, risks relating to fluctuations in the Canadian dollar and
other currencies relative to the US dollar, changes in exploration,
development or mining plans due to exploration results and changing budget
priorities of Wescan or its joint venture partners; the effects of competition
in the markets in which Wescan operates; the impact of changes in the laws and
regulations regulating mining exploration and development; judicial or
regulatory judgments and legal proceedings; operational and infrastructure
risks and the additional risks described in Wescan's most recently filed
annual and interim MD&A and Wescan's anticipation of and success in managing
the foregoing risks.
Wescan cautions that the foregoing list of factors that may affect future
results is not exhaustive. When relying on our forward-looking statements to
make decisions with respect to Wescan, investors and others should carefully
consider the foregoing factors and other uncertainties and potential events.
Wescan does not undertake to update any forward-looking statement, whether
written or oral, that may be made from time to time by Wescan or on our
behalf.
"The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy of this release"
For further information: Frank Hrdy, Exploration Manager or Wade
MacBain, Corporate Development at (306) 664-2422
