Western Exploration Initiates 2024 Drill Program at Gravel Creek
Western Exploration Inc. (TSXV: WEX; OTCQX: WEXPF) has initiated its 2024 drill program at the Aura gold-silver project in Nevada. The 4,000 m program targets high-grade Au-Ag veins discovered in 2023 east of the Gravel Creek deposit. Key points:
1. Two core drills will be used for oriented core drilling.
2. 2023 drilling identified a North-South trending zone with multiple high-grade Au-Ag bearing veins.
3. Multiple +20 g/t AuEq intercepts traced along a dip length of over 200 meters.
4. 2024 drilling will bracket the 2023 discovery section with 80-meter step-outs.
5. The program aims to add this new area to future Gravel Creek resource updates.
The company also clarified details about its contract with Peak Investor Marketing Corp. for investor relations services.
Western Exploration Inc. (TSXV: WEX; OTCQX: WEXPF) ha iniziato il suo programma di perforazione per il 2024 presso il progetto aurifero-argentifero Aura in Nevada. Il programma di 4.000 m è indirizzato a vene Au-Ag ad alta legge scoperte nel 2023 a est del deposito Gravel Creek. Punti chiave:
1. Due perforatrici saranno utilizzate per la perforazione orientata.
2. La perforazione del 2023 ha identificato una zona a trend Nord-Sud con più vene ad alta legge contenenti Au-Ag.
3. Sono state rintracciate più intercettazioni superiori a 20 g/t AuEq lungo un estensione in pendenza di oltre 200 metri.
4. La perforazione del 2024 circonderà la sezione scoperta nel 2023 con scagliamenti di 80 metri.
5. Il programma mira ad aggiungere questa nuova area agli aggiornamenti delle risorse future di Gravel Creek.
L'azienda ha anche chiarito i dettagli riguardanti il suo contratto con Peak Investor Marketing Corp. per i servizi di relazioni con gli investitori.
Western Exploration Inc. (TSXV: WEX; OTCQX: WEXPF) ha iniciado su programa de perforación 2024 en el proyecto de oro-plata Aura en Nevada. El programa de 4,000 m tiene como objetivo vetas de Au-Ag de alta ley descubiertas en 2023 al este del depósito Gravel Creek. Puntos clave:
1. Se utilizarán dos perforadoras para la perforación orientada.
2. La perforación de 2023 identificó una zona con tendencia de Norte a Sur con múltiples vetas de Au-Ag de alta ley.
3. Se rastrearon múltiples interceptaciones de más de 20 g/t AuEq a lo largo de una longitud en pendiente de más de 200 metros.
4. La perforación de 2024 enmarcará la sección descubierta en 2023 con desplazamientos de 80 metros.
5. El programa tiene como objetivo añadir esta nueva área a las futuras actualizaciones de recursos de Gravel Creek.
La empresa también aclaró detalles sobre su contrato con Peak Investor Marketing Corp. para servicios de relaciones con inversores.
Western Exploration Inc. (TSXV: WEX; OTCQX: WEXPF)가 네바다의 아우라 금-은 프로젝트에서 2024년 시추 프로그램을 시작했습니다. 4,000m 프로그램은 2023년에 Gravel Creek 광상 동쪽에서 발견된 고품위 Au-Ag 광맥을 목표로 합니다. 핵심 내용:
1. 두 대의 코어 드릴이 방향성 코어 시추에 사용됩니다.
2. 2023년 시추에서 다수의 고품위 Au-Ag 함유 광맥이 있는 북남 방향의 구역이 확인되었습니다.
3. 20 g/t AuEq 이상의 다수의 시추 구간이 200미터 이상의 경사 길이를 따라 추적되었습니다.
4. 2024년 시추는 2023년 발견 구역을 80미터 간격으로 둘러싸는 방법으로 진행됩니다.
5. 이 프로그램은 향후 Gravel Creek 자원 업데이트에 이 새로운 영역을 추가하는 것을 목표로 합니다.
회사는 또한 투자자 관계 서비스에 대한 Peak Investor Marketing Corp.와의 계약 세부 사항을 명확히 했습니다.
Western Exploration Inc. (TSXV: WEX; OTCQX: WEXPF) a lancé son programme de forage 2024 au projet d'or-argent Aura dans le Nevada. Le programme de 4 000 m vise des veines Au-Ag à haute teneur découvertes en 2023 à l'est du gisement de Gravel Creek. Points clés :
1. Deux foreuses sous-marin seront utilisées pour le forage orienté.
2. Le forage en 2023 a identifié une zone de tendance nord-sud avec plusieurs veines porteuses d'Au-Ag de haute teneur.
3. Plusieurs intersections supérieures à 20 g/t AuEq ont été retracées sur une longueur de plus de 200 mètres.
4. Le forage de 2024 encadrera la section découverte en 2023 avec des pas de 80 mètres.
5. Le programme vise à ajouter cette nouvelle zone aux futures mises à jour des ressources de Gravel Creek.
L'entreprise a également clarifié les détails concernant son contrat avec Peak Investor Marketing Corp. pour les services de relations avec les investisseurs.
Western Exploration Inc. (TSXV: WEX; OTCQX: WEXPF) hat sein Bohrprogramm für 2024 gestartet im Aura Gold-Silber-Projekt in Nevada. Das 4.000 m umfassende Programm zielt auf hochgradige Au-Ag-Erzgänge, die 2023 östlich des Gravel Creek Deposits entdeckt wurden. Wichtige Punkte:
1. Zwei Kernbohrer werden für die orientierte Kernbohrung verwendet.
2. Die Bohrungen 2023 identifizierten eine Nord-Süd verlaufende Zone mit mehreren hochgradigen Au-Ag-haltigen Erzgängen.
3. Mehrere Überlagerungen von mehr als 20 g/t AuEq wurden entlang einer Neigungslänge von über 200 Metern verfolgt.
4. Die Bohrungen 2024 werden den Entdeckungsbereich 2023 mit 80-Meter-Abständen abstecken.
5. Das Programm zielt darauf ab, dieses neue Gebiet in zukünftige Ressourcenerneuerungen für Gravel Creek einzubeziehen.
Das Unternehmen hat auch Einzelheiten zu seinem Vertrag mit der Peak Investor Marketing Corp. für Dienstleistungen im Bereich Investor Relations klargestellt.
- Discovery of high-grade Au-Ag veins with multiple +20 g/t AuEq intercepts
- Potential to expand Gravel Creek resource with new high-grade mineralization
- 4,000 m drill program initiated to follow up on successful 2023 campaign
- Oriented core data collected in 2023 identified an array of intersecting veins, improving understanding of mineralization
- None.
4,000 m drill program will target and offset the area of high-grade Au-Ag veins discovered in 2023
![Figure 1. Cross section through drill holes WG456, WG457 and legacy holes showing continuity of +20 g/t AuEq grades on a dip length of potentially +200 meters (AuEq calculated at 85:1 Ag: Ag and assays are uncut). (Graphic: Business Wire)](https://mms.businesswire.com/media/20240723012664/en/2193281/4/Figure_1.jpg)
Figure 1. Cross section through drill holes WG456, WG457 and legacy holes showing continuity of +20 g/t AuEq grades on a dip length of potentially +200 meters (AuEq calculated at 85:1 Ag: Ag and assays are uncut). (Graphic: Business Wire)
Focus for 2024 Drill Program
- 2023 drilling identified a significant North-South trending/moderately west dipping zone with multiple high-grade Au-Ag bearing quartz-pyrite-marcasite vein, stockwork and hydrothermal breccias, located 140 meters to 250 meters east/north-east of the Gravel Creek resource area (see Figure 1).
- Multiple +20 g/t AuEq intercepts in two parallel vein zones and associated splay structures have been traced along a dip length of over 200 meters, with drill widths ranging from 0.3 to 4.6 meters and individual assay grades up to 257 g/t Au and 1,800 g/t Ag.
- Drilling will bracket the 2023 discovery section with an 80 meter step out drilling on strike to the north and south, as well as 80 meters up dip.
Significance of Results for Resource Expansion Potential
Western Exploration CEO, Darcy Marud, commented: "We are excited for the 2024 Drill program at Aura. In 2023, we identified a corridor of high-grade mineralization immediately adjacent to the Gravel Creek resource. Since the discovery of Gravel Creek in 2013, 19 drill holes have intersected significant grades and widths of this high-grade mineralization in the corridor. The 2024 drill program will focus on connecting these drill hole intercepts with sufficient drill density to add this new area to future Gravel Creek resource updates.”
2024 Oriented Core Drilling will Follow up on Successful 2023 Drill Campaign
Oriented core data collected in 2023 identified an array of intersecting veins, stockwork and hydrothermal breccias following steep to shallow north-west to north-east trends that mimic the known structural controls of mineralization. The strongest correlation between 2023 holes WG456 and WG457 linked mineralized structures to a north/north-west trending corridor, with moderate dips west/south-west towards the main GC Fault zone. Multiple legacy intercepts along two sub-parallel veins zones show grades of over 20 g/t AuEq along a dip length of over 200 meters (Figure 1). Initial drilling in 2024 will bracket Discovery section 500N, with holes drilled along strike and up dip on 80-meter step outs (Figure 2).
Peak Investor Marketing Update
The Company also wishes to clarify certain matters in the news release disseminated by the Company on June 28, 2024 (the "News Release") regarding its contracting of Peak Investor Marketing Corp. ("Peak Investor"). The News Release stated that Peak Investor had been contracted to provide certain market-making and investor relations services, whereas Peak Investor was only contracted to provided investor relations services (pursuant to the policies of the TSXV Venture Exchange).
In addition, the Company wishes to disclose that, as of the date of this news release, Scott Gibson and Nichola Vermiere, the co-owners of Peak Investor, own or control, directly or indirectly, 835,443 variable voting shares of the Company plus 657,143 variable voting share purchase warrants of the Company and 100,000 variable voting shares of the Company plus 100,000 variable voting share purchase warrants of the Company, respectively. Each variable voting share purchase warrant allows the holder to purchase a variable voting share for
The News Release also made reference to Peak Investors being compensated by way of a future grant of 150,000 stock options of the Company. These stock options of the Company will be granted on or about the end of July 2024, under terms and exercise prices to be determined by the board of directors of the Company in compliance with the rules and policies of the TSX Venture Exchange. The terms of these stock options will be disclosed in a subsequent news release, disseminated at the time of the grant.
About Western Exploration
Western Exploration is focused on advancing the
Western Exploration is comprised of an experienced team of precious metals experts that aim to lead the company to becoming
Additional information regarding Western Exploration and the Aura Project can be found on the Company's website and on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile.
Qualified Person Approval
The scientific and technical content in this news release has been reviewed and approved by Mark Hawksworth, General Manager of the Western Exploration's Aura Project, who is a "qualified person" within the meaning of NI 43-101.
Please see below under the heading "Cautionary Note Regarding Forward-Looking Information" for further details regarding the risks facing Western Exploration.
The mineral resource estimate for the Aura project is disclosed in the Company's technical report, prepared in accordance with the requirements of NI 43-101, entitled "2021 Updated Resource Estimates and Technical Report for the Aura Gold-Silver Project,
Cautionary Note Regarding Forward-Looking Information
This news release may contain "forward-looking information" and "forward-looking statements" within the meaning of the applicable Canadian and
For additional information with respect to these and other factors and assumptions underlying the forward‐looking statements and forward-looking information made in this news release concerning Western Exploration, see the management information circular dated November 12, 2021, available electronically under Western Exploration's issuer profile on SEDAR+ (www.sedarplus.ca). The forward-looking statements set forth herein concerning Western Exploration reflect management's expectations as at the date of this news release and are subject to change after such date. Western Exploration disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240723012664/en/
Darcy Marud
Chief Executive Officer
Telephone: (775) 329-8119
Email: dmarud@westernexploration.com
Nichole Cowles
Investor Relations
Telephone: 775-240-4172
Email: nicholecowles@westernexploration.com
Source: Western Exploration Inc.
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