Walcott Reports 504 g/t Silver, 0.22% Copper, 6.44% Lead and 9.57% Zinc, adjacent to the Historic Burra Silver Mine at Tyr Silver Zinc Project in New South Wales, Australia

Rhea-AI Summary

Walcott Resources Ltd. has completed surface sampling at its 60% owned Tyr Silver Zinc project in New South Wales, Australia. The findings revealed high-grade samples including 504g/t Silver and 9.57% Zn from mine dump grab samples. CEO David Thornley-Hall expressed satisfaction with the results, indicating promising silver mineralization at historic sites. The project spans over 300 square kilometers, featuring historic mines last operational from 1920 to 1935. Walcott is focused on further exploration and has engaged geological consultants for data verification.

Positive

• High-grade silver values reported: 504g/t Ag, 9.57% Zn.
• Encouraging mineralization at historic silver mines.
• Strategic location of the project, well-accessed by paved road.

Negative

• None.

VANCOUVER, BC, Feb. 3, 2021 /PRNewswire/ - Walcott Resources Ltd. (CSE: WAL) (FSE: WR2) (OTCPINK: WALRF) (the "Company" or "Walcott") announces that surface sampling field work and evaluation has been finalized at its 60% owned Tyr Silver Zinc project ("TSZP") in north-northeast New South Wales, Australia.

Highlights:

• 504g/t Silver, 0.22% Cu, 6.44% Pb and 9.57% Zn – mine dump grab sample
• 389g/t Silver, 0.63% Cu, 2.64% Pb and 10.95% Zn – mine dump grab sample
• 355g/t Silver, 0.04% Cu, 1.70% Pb and 0.14% Zn – mine dump grab sample
• 43g/t Silver, 0.04%Cu, 1.22% Pb and 12.45% Zn -Burra mine adit

David Thornley-Hall, Director and CEO, states, "Our December 2020 program confirms encouraging silver mineralization across historic silver occurrences at our Tyr Silver Zinc project. We are pleased to see compelling high-grade values from both the historic Burra and Torny mine sites."

Technical and Environmental Background

The TSZP consists of over 300 square kilometres including two historic silver mines that were last operational between 1920 and 1935. The tenement was granted on the 29th of March 2018, for a period of 6 years. The project is located approximately 20kms southwest of the town of Tenterfield and is accessible via paved road.

Walcott has engaged Xplore Resources, geological consultants, of North Lakes, Queensland Australia to conduct the field program including stakeholder communications, review and verification of previously reported geological data.

Qualified Person

Mr. Geoffrey Reed (MAusMM (CP)) (MAIG), Consultant for the Company, is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure or Mineral Projects and has prepared or reviewed the preparation of the scientific and technical information in this press release.

ON BEHALF OF THE BOARD OF DIRECTORS,
David Thornley-Hall, CEO and Director
604 306 7821

For further information on the Company, please visit: www.walcottresources.com  

Figure 1: Plan location of the TSZP showing historic silver occurrences and location of historic Torny and Burra silver mines.

Figure 2: Sample results in and around the Historic Torny and Burra Silver Mines

Number	Ag	Cu	Zn	Pb	Au
Sample	g/t	ppm	ppm	ppm	g/t
TRY001	0.2	19	65	29	0.01
TRY002	0.2	16	131	4	0.00
TRY003	0.2	9	16	16	0.00
TRY004	0.2	4	17	10	0.00
TRY005	0.2	34	11	13	0.00
TRY006	0.2	14	12	5	0.00
TRY007	0.7	314	15	8	0.00
TRY008	0.5	22	517	256	0.00
TRY009	0.8	26	134	477	0.00
TRY010	0.3	12	272	36	0.00
TRY011	2.4	35	17	242	0.00
TRY012	3.1	398	923	947	<0.001
TRY013	0.5	34	128	86	0.01
TRY014	16.6	305	3210	12600	0.00
TRY015	1.3	23	315	341	0.00
TRY016	0.8	17	86	357	0.00
TRY017	0.8	15	276	248	0.00
TRY018	0.8	19	75	274	0.01
TRY019	1.6	35	192	146	0.00
TRY020	0.2	26	119	17	0.00
TRY021	8.4	2320	991	1490	0.00
TRY022	1.8	1300	297	224	0.00
TRY023
TRY024	13.6	645	15400	89	0.00
TRY025	0.4	28	3250	69	0.00
TRY026	242.0	867	8410	1980	0.01
TRY027	389.0	6320	109500	26400	0.04
TRY028	35.6	1950	83500	296	0.03
TRY029	11.5	617	2080	834	0.00
TRY030	114.0	1380	5200	11500	0.01
TRY031	43.3	381	124500	12150	0.00
TRY032	33.1	467	7320	9270	0.00
TRY033	9.2	31	2680	2120	0.00
TRY034	8.7	18	36	61	0.24
TRY035	0.5	84	130	44	0.01
TRY036	0.2	13	18	14	0.00
TRY037	0.2	3	9	7	0.00
TRY038	0.2	9	10	14	0.00
TRY039	10.2	409	136	171	0.01
TRY040	7.3	190	188	34	0.00
TRY041	0.3	81	325	19	0.00
TRY042	1.7	101	422	54	0.00
TRY043	116.0	263	478	30400	0.10
TRY044	61.6	1230	23700	3370	0.09
TRY045	504.0	2240	95700	64400	0.03
TRY046	109.0	246	2330	8340	0.13
TRY047	95.5	428	77600	9890	0.07
TRY048	20.9	95	1050	11400	0.00
TRY049	23.4	391	2050	6800	0.01
TRY050	4.1	22	174	1120	0.00
TRY051	28.7	558	3500	3810	0.00
TRY052	355.0	352	1400	16950	0.03
TRY053	25.7	25	156	641	0.00
TRY054	22.5	2410	29	192	0.12
TRY055	3.6	23	82	144	0.03
TRY056	0.5	105	1210	1820	0.00

About Walcott Resources Ltd.

Walcott is a British Columbia based Company involved in the acquisition and exploration of mineral properties in Canada and Australia. The Company holds an option to acquire a 100% undivided interest, subject to a 1.5% NSR on all base, rare earth elements and precious metals, in the Cobalt Hill copper- gold-cobalt property (the "Property"), consisting of eight mineral claims covering an area of approximately 1,727.43 hectares located in the Trail Creek Mining Division in the Province of British Columbia, Canada.

In addition, the Company has acquired 60% of two silver assets in Australia - the Tyr Silver Project in northern New South Wales and Century South Silver-Zinc Project in north-west Queensland.

The CSE does not accept responsibility for the adequacy or accuracy of this release.
The Canadian Securities has neither approved nor disapproved the contents of this press release.

This press release includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements may include but are not limited to, statements relating to the trading of the Company's common shares on the Exchange and the Company's use of proceeds and are subject to all of the risks and uncertainties normally incident to such events.

Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management's best judgment based on information currently available.

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SOURCE Walcott Resources Ltd.

FAQ

What are the latest findings from Walcott Resources' Tyr Silver Zinc project (WALRF)?

Walcott Resources reported high-grade samples from the Tyr Silver Zinc project including 504g/t Silver and significant levels of Zn, Cu, and Pb.

What is the size and history of the Tyr Silver Zinc project (WALRF)?

The Tyr Silver Zinc project covers over 300 square kilometers, located in New South Wales, Australia, and includes historic mines that operated between 1920 and 1935.

Who conducted the field program for Walcott Resources' Tyr Silver Zinc project (WALRF)?

Walcott Resources engaged Xplore Resources as geological consultants to conduct the field program and verify geological data.

When were the surface sampling results at Tyr Silver Zinc project (WALRF) announced?

The surface sampling results were announced by Walcott Resources on February 3, 2021.

What mineral resources are present at Tyr Silver Zinc project (WALRF)?

The samples revealed significant amounts of silver, along with copper, lead, and zinc.