Owner
Post by Franko10 ™ on May 6, 2008 6:32:53 GMT -5
Wescan Goldfields Inc. - Jojay Project: High grade gold intersected 22.95 grams per tonne over 1.70 metres
17:32 EST Friday, February 29, 2008
Stock Symbol: WGF: TSX-V
SASKATOON, SK, Feb. 29 /CNW/ - Wescan Goldfield Inc. (WGF: TSX-V) (Wescan) is pleased to announce the first set of results from the 2007-2008 winter drill program on the 100 percent owned Jojay Project in Northern Saskatchewan's Greenstone Belt, located 135 kilometers by road north of La Ronge. Significant gold intercepts include:
<<
- 22.95 grams per tonne (g/t) over 1.70 metres (m), including
52.47 g/t over 0.70 m in drill hole JJ07-02
- 49.07 g/t over 0.50 m in drill hole JJ08-09
- 41.36 g/t over 0.80 m in drill hole JJ08-04
- 6.48 g/t over 5.50 m, including
36.18 g/t over 0.60 m in drill hole JJ08-06
- 9.37 g/t over 2.60 m, including
37.52 g/t over 0.40 m in drill hole JJ08-09
>>
Drilling down plunge of the known mineralized zone resulted in a significant overall deepening of the deposit supported by gold assays and visual inspection. In the north, the mineralized zones were extended from 200 metres to 300 metres from surface and the southern mineralization was extended from 150 metres to 250 metres from surface. These drill results clearly demonstrate the significant increase of potential at Jojay.
The 2007-2008 Jojay drill program included a total of 6,336 metres of diamond drilling over 22 holes and was completed in late February, 2008. This drill program focused on infill drilling required for a resources estimate. In addition, step out drilling tested deeper areas of mineralization.
A scoping study is presently underway by a Saskatoon based engineering firm in preparation for a planned underground bulk sample. A National Instrument 43-101 compliant technical report and resource estimate will be prepared with the scoping study. The scoping study is scheduled for completion in mid-2008 and will include the current drilling results and a baseline study.
Significant uncut gold intercepts for the first 10 holes (JJ07-01 to JJ08-10) are reported in the table below. Results for the remaining 12 holes are in progress.
<<
-------------------------------------------------------------------------
Drill
Hole Objective From(m) To(m) Width(m) Au (g/t)
-------------------------------------------------------------------------
JJ07-02 Step-out 130.00 130.80 0.80 13.31
-------------------------------------------------------------------------
JJ07-02 Step-out 173.60 175.30 1.70 22.95 *
-------------------------------------------------------------------------
incl. Step-out 173.60 174.30 0.70 52.47
-------------------------------------------------------------------------
JJ07-02 Step-out 216.50 216.80 0.30 6.69
-------------------------------------------------------------------------
JJ07-02 Step-out 231.60 234.40 2.80 4.14 *
-------------------------------------------------------------------------
incl. Step-out 233.00 233.30 0.30 15.12
-------------------------------------------------------------------------
-------------------------------------------------------------------------
JJ07-03 Infill 179.60 180.10 0.50 4.9
-------------------------------------------------------------------------
-------------------------------------------------------------------------
JJ08-04 Step-out 226.10 226.60 0.50 4.12
-------------------------------------------------------------------------
JJ08-04 Step-out 252.50 253.50 1.00 4.08
-------------------------------------------------------------------------
JJ08-04 Step-out 271.40 272.40 1.00 2.22
-------------------------------------------------------------------------
JJ08-04 Step-out 280.60 281.40 0.80 41.36
-------------------------------------------------------------------------
JJ08-04 Step-out 284.30 286.40 2.10 5.73 *
-------------------------------------------------------------------------
incl. Step-out 285.80 286.40 0.60 10.25
-------------------------------------------------------------------------
JJ08-04 Step-out 288.30 289.30 1.00 10.69 *
-------------------------------------------------------------------------
incl. Step-out 288.80 289.30 0.50 18.35
-------------------------------------------------------------------------
-------------------------------------------------------------------------
JJ08-05 Infill 232.90 235.30 2.40 3.17 *
-------------------------------------------------------------------------
-------------------------------------------------------------------------
JJ08-06 Step-out 176.00 176.70 0.70 11.01
-------------------------------------------------------------------------
JJ08-06 Step-out 216.90 217.50 0.60 6.55
-------------------------------------------------------------------------
JJ08-06 Step-out 223.20 223.70 0.50 3.02
-------------------------------------------------------------------------
JJ08-06 Step-out 225.60 231.10 5.50 6.48 *
-------------------------------------------------------------------------
incl. Step-out 227.50 228.10 0.60 36.18
-------------------------------------------------------------------------
-------------------------------------------------------------------------
JJ08-07 Step-out 224.50 227.10 2.60 2.46 *
-------------------------------------------------------------------------
incl. Step-out 226.10 227.10 1.00 4.39
-------------------------------------------------------------------------
JJ08-07 Step-out 238.40 239.40 1.00 2.08
-------------------------------------------------------------------------
JJ08-07 Step-out 242.90 243.40 0.50 4.01
-------------------------------------------------------------------------
JJ08-07 Step-out 244.40 245.10 0.70 2.77
-------------------------------------------------------------------------
JJ08-07 Step-out 246.60 248.00 1.40 3.73 *
-------------------------------------------------------------------------
incl. Step-out 247.40 248.00 0.60 7.1
-------------------------------------------------------------------------
-------------------------------------------------------------------------
JJ08-09 Infill 235.20 235.70 0.50 49.07
-------------------------------------------------------------------------
JJ08-09 Infill 251.30 251.80 0.50 4.36
-------------------------------------------------------------------------
JJ08-09 Infill 268.90 269.90 1.00 2.09
-------------------------------------------------------------------------
JJ08-09 Infill 273.70 276.30 2.60 9.37 *
-------------------------------------------------------------------------
incl. Infill 273.70 274.10 0.40 37.52
-------------------------------------------------------------------------
incl. Infill 274.10 274.60 0.50 9.02
-------------------------------------------------------------------------
-------------------------------------------------------------------------
JJ08-10 Infill 142.5 143 0.50 14.51
-------------------------------------------------------------------------
>>
* Indicates a composite interval calculated as a weighted average
Drill core was halved and samples averaging 0.5 to 1.0 metres were submitted to TSL Laboratory in Saskatoon, Saskatchewan. Rigorous quality assurance and quality control procedures have been implemented including the use of blanks, standards and duplicates. Core samples were analyzed by a 30 gram gold fire assay with an atomic absorption and gravimetric finish. Intercepts are reported as drilled widths, and range 40 to 70 percent of true widths.
Vice President of Exploration, Kirsten Marcia, a Professional Geoscientist in the Province of Saskatchewan, is the Qualified Person who has reviewed and approved this news release.
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".
"The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release."
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 theUnited States Private Securities Litigation Reform Act of 1995. Wescan may make such statements in this press release, in other filings with Canadian regulators or theUnited 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.
%SEDAR: 00021049E
For further information: Maurice (Moe) F. Lindsay, President, or Kirsten?Marcia - Vice President of Exploration, at (306) 664-2422
17:32 EST Friday, February 29, 2008
Stock Symbol: WGF: TSX-V
SASKATOON, SK, Feb. 29 /CNW/ - Wescan Goldfield Inc. (WGF: TSX-V) (Wescan) is pleased to announce the first set of results from the 2007-2008 winter drill program on the 100 percent owned Jojay Project in Northern Saskatchewan's Greenstone Belt, located 135 kilometers by road north of La Ronge. Significant gold intercepts include:
<<
- 22.95 grams per tonne (g/t) over 1.70 metres (m), including
52.47 g/t over 0.70 m in drill hole JJ07-02
- 49.07 g/t over 0.50 m in drill hole JJ08-09
- 41.36 g/t over 0.80 m in drill hole JJ08-04
- 6.48 g/t over 5.50 m, including
36.18 g/t over 0.60 m in drill hole JJ08-06
- 9.37 g/t over 2.60 m, including
37.52 g/t over 0.40 m in drill hole JJ08-09
>>
Drilling down plunge of the known mineralized zone resulted in a significant overall deepening of the deposit supported by gold assays and visual inspection. In the north, the mineralized zones were extended from 200 metres to 300 metres from surface and the southern mineralization was extended from 150 metres to 250 metres from surface. These drill results clearly demonstrate the significant increase of potential at Jojay.
The 2007-2008 Jojay drill program included a total of 6,336 metres of diamond drilling over 22 holes and was completed in late February, 2008. This drill program focused on infill drilling required for a resources estimate. In addition, step out drilling tested deeper areas of mineralization.
A scoping study is presently underway by a Saskatoon based engineering firm in preparation for a planned underground bulk sample. A National Instrument 43-101 compliant technical report and resource estimate will be prepared with the scoping study. The scoping study is scheduled for completion in mid-2008 and will include the current drilling results and a baseline study.
Significant uncut gold intercepts for the first 10 holes (JJ07-01 to JJ08-10) are reported in the table below. Results for the remaining 12 holes are in progress.
<<
-------------------------------------------------------------------------
Drill
Hole Objective From(m) To(m) Width(m) Au (g/t)
-------------------------------------------------------------------------
JJ07-02 Step-out 130.00 130.80 0.80 13.31
-------------------------------------------------------------------------
JJ07-02 Step-out 173.60 175.30 1.70 22.95 *
-------------------------------------------------------------------------
incl. Step-out 173.60 174.30 0.70 52.47
-------------------------------------------------------------------------
JJ07-02 Step-out 216.50 216.80 0.30 6.69
-------------------------------------------------------------------------
JJ07-02 Step-out 231.60 234.40 2.80 4.14 *
-------------------------------------------------------------------------
incl. Step-out 233.00 233.30 0.30 15.12
-------------------------------------------------------------------------
-------------------------------------------------------------------------
JJ07-03 Infill 179.60 180.10 0.50 4.9
-------------------------------------------------------------------------
-------------------------------------------------------------------------
JJ08-04 Step-out 226.10 226.60 0.50 4.12
-------------------------------------------------------------------------
JJ08-04 Step-out 252.50 253.50 1.00 4.08
-------------------------------------------------------------------------
JJ08-04 Step-out 271.40 272.40 1.00 2.22
-------------------------------------------------------------------------
JJ08-04 Step-out 280.60 281.40 0.80 41.36
-------------------------------------------------------------------------
JJ08-04 Step-out 284.30 286.40 2.10 5.73 *
-------------------------------------------------------------------------
incl. Step-out 285.80 286.40 0.60 10.25
-------------------------------------------------------------------------
JJ08-04 Step-out 288.30 289.30 1.00 10.69 *
-------------------------------------------------------------------------
incl. Step-out 288.80 289.30 0.50 18.35
-------------------------------------------------------------------------
-------------------------------------------------------------------------
JJ08-05 Infill 232.90 235.30 2.40 3.17 *
-------------------------------------------------------------------------
-------------------------------------------------------------------------
JJ08-06 Step-out 176.00 176.70 0.70 11.01
-------------------------------------------------------------------------
JJ08-06 Step-out 216.90 217.50 0.60 6.55
-------------------------------------------------------------------------
JJ08-06 Step-out 223.20 223.70 0.50 3.02
-------------------------------------------------------------------------
JJ08-06 Step-out 225.60 231.10 5.50 6.48 *
-------------------------------------------------------------------------
incl. Step-out 227.50 228.10 0.60 36.18
-------------------------------------------------------------------------
-------------------------------------------------------------------------
JJ08-07 Step-out 224.50 227.10 2.60 2.46 *
-------------------------------------------------------------------------
incl. Step-out 226.10 227.10 1.00 4.39
-------------------------------------------------------------------------
JJ08-07 Step-out 238.40 239.40 1.00 2.08
-------------------------------------------------------------------------
JJ08-07 Step-out 242.90 243.40 0.50 4.01
-------------------------------------------------------------------------
JJ08-07 Step-out 244.40 245.10 0.70 2.77
-------------------------------------------------------------------------
JJ08-07 Step-out 246.60 248.00 1.40 3.73 *
-------------------------------------------------------------------------
incl. Step-out 247.40 248.00 0.60 7.1
-------------------------------------------------------------------------
-------------------------------------------------------------------------
JJ08-09 Infill 235.20 235.70 0.50 49.07
-------------------------------------------------------------------------
JJ08-09 Infill 251.30 251.80 0.50 4.36
-------------------------------------------------------------------------
JJ08-09 Infill 268.90 269.90 1.00 2.09
-------------------------------------------------------------------------
JJ08-09 Infill 273.70 276.30 2.60 9.37 *
-------------------------------------------------------------------------
incl. Infill 273.70 274.10 0.40 37.52
-------------------------------------------------------------------------
incl. Infill 274.10 274.60 0.50 9.02
-------------------------------------------------------------------------
-------------------------------------------------------------------------
JJ08-10 Infill 142.5 143 0.50 14.51
-------------------------------------------------------------------------
>>
* Indicates a composite interval calculated as a weighted average
Drill core was halved and samples averaging 0.5 to 1.0 metres were submitted to TSL Laboratory in Saskatoon, Saskatchewan. Rigorous quality assurance and quality control procedures have been implemented including the use of blanks, standards and duplicates. Core samples were analyzed by a 30 gram gold fire assay with an atomic absorption and gravimetric finish. Intercepts are reported as drilled widths, and range 40 to 70 percent of true widths.
Vice President of Exploration, Kirsten Marcia, a Professional Geoscientist in the Province of Saskatchewan, is the Qualified Person who has reviewed and approved this news release.
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".
"The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release."
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 theUnited States Private Securities Litigation Reform Act of 1995. Wescan may make such statements in this press release, in other filings with Canadian regulators or theUnited 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.
%SEDAR: 00021049E
For further information: Maurice (Moe) F. Lindsay, President, or Kirsten?Marcia - Vice President of Exploration, at (306) 664-2422
