InvestmentPitch Media Video Discusses Western Exploration’s Assays from Doby George Deposit at Aura Project in Nevada, with Intersections of 23.63m of 3.27 g/t gold and 54.56m of 2.08 g/t gold

Rhea-AI Summary

Western Exploration (TSXV: WEX) (OTCQX: WEXPF) has reported initial assay results from its Doby George Phase 1 drill program, part of the Aura gold-silver project in Nevada. The drilling, conducted between July and September 2022, revealed significant gold intersections, including 23.63 meters of 3.27 g/t gold and 54.56 meters of 2.08 g/t gold. Doby George is identified as one of Nevada's highest-grade undeveloped resources, with extensive infrastructure and favorable geology for mining. The project contains approximately 1.3 million gold equivalent ounces across multiple deposits.

Positive

• Initial assay results show strong gold intersections: 23.63 meters at 3.27 g/t and 54.56 meters at 2.08 g/t.
• Doby George is identified as one of the highest-grade undeveloped open-pit heap leach resources in Nevada.
• Well-established infrastructure supports project development.
• Joint venture with Agnico Eagle Mines has provided over USD 14 million in funding.
• Significant gold equivalent resources identified: 652,271 ounces indicated, 665,357 ounces inferred.

Negative

• None.

VANCOUVER, British Columbia, Oct. 27, 2022 (GLOBE NEWSWIRE) -- Western Exploration (TSXV:WEX) (OTCQX:WEXPF), a Nevada-focused gold and silver exploration company, has released initial assay results from its Phase 1 drill program at Doby George, Nevada. Doby George, one of three main mineral deposits at the company’s 100% owned, 6,000-hectare Aura gold-silver project, located approximately 120 kilometers or 75 miles north of the city of Elko, Nevada, is one of the highest-grade, undeveloped open pit heap leach resources in Nevada.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video which provides additional information about the company and today’s news, along with comments from Darcy Marud, Western Explorations, CEO. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Western Exploration” in the search box.

The project has a well-established infrastructure including year-round accessibility by highway and county-maintained road and nearby access to water and electricity. The Aura Project is located 32 kilometers north of the Jerritt Canyon mine, which has been in continual operation since 1981.

The deposit is an outcropping, high-grade sediment-hosted mineral deposit, with multiple zones of mineralization identified by drilling in a 1.7 x 0.8 km area. The zone of oxidation extends approximately 150 to 200 meters below surface, while limited deep drilling has encountered unoxidized gold mineralization at depths of over 600 meters below surface.

The Phase 1 drill program, completed between July 26 and September 12, 2022, and designed to evaluate areas within, and adjacent to, the current resource boundary, was comprised of nine large diameter (PQ) core holes. The drill holes were located at eight different drill sites for a total of 1,138 metres at the Doby George deposit.

Holes DGC789 and DGC790, approximately 440 meters apart, were completed in the West Ridge resource area of Doby George, which accounts for approximately 82% of the current mineral resource estimate at Doby George, showed very positive grade distribution when compared to the resource block model. Highlights of Hole DGC789 include an intersection of 20.88 meters of 1.41 grams per tonne and 23.63 meters of 3.27 grams per tonne gold, including 7.32 meters of 5.27 grams per tonne gold. Highlights of Hole DGC790 include an intersection of 54.56 meters of 2.08 grams per tonne gold, including 6.4 meters of 4.70 grams per tonne gold.

Homestake Mining Company initially discovered the Doby George deposit in the mid-1980s. Metallurgical test work completed on oxidized material by Homestake Mining and others, has indicated favorable metallurgy for standard cyanide heap leach processing.

Since that time, 827 drill holes have been completed, totaling 115,197 meters of drilling. This includes 74 drill holes, totaling 22,622 meters that were drilled between 1998 and 2017 by Western Exploration LLC, which has a 25-year history of advancing exploration projects in Nevada as a private company.

In 2017, Agnico Eagle Mines became a partner and has invested more than US$14 million and currently owns approximately 18% and provides technical expertise through a joint technical committee with Western Exploration's management team.

The Aura Project is unique in the junior mining space insofar as resources have been identified in three different deposits, Doby George, Gravel Creek and Wood Gulch. The project is supported by Mineral Resource Technical Report dated October 2021 showing 652,271 gold equivalent ounces in the Indicated category and 665,357 gold equivalent ounces in the Inferred category.

The shares, which began trading on the TSX Venture Exchange on January 19th, are currently trading at $1.49. For more information, please visit the company’s website, www.WesternExploration.com, contact Nichole Cowles, Investor Relations, at 775-240-4172 or by email at NicholeCowles@WesternExploration.com.

Disclaimer

The information in this Investmentpitch Media Ltd video is for the viewers information only. Western Exploration has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by Investmentpitch Media Ltd, through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. Investmentpitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

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FAQ

What are the latest assay results from Western Exploration's Doby George project?

The latest assay results include 23.63 meters of 3.27 g/t gold and 54.56 meters of 2.08 g/t gold.

When was the Phase 1 drill program for Doby George conducted?

The Phase 1 drill program was conducted from July 26 to September 12, 2022.

How many gold equivalent ounces does the Aura Project have?

The Aura Project has approximately 1.3 million gold equivalent ounces across its deposits.

What is the significance of Doby George in Nevada's mining landscape?

Doby George is recognized as one of the highest-grade undeveloped open-pit heap leach resources in Nevada.

Who is funding Western Exploration's projects?

Agnico Eagle Mines has invested over USD 14 million into Western Exploration's projects.