Western Exploration Reports Exceptional Drill Results at Aura Project in Nevada, Including 26.06m of 6.93 g/t gold – Video on InvestmentPitch Media

Rhea-AI Summary

Western Exploration (TSXV:WEX) (OTCQX:WEXPF) announced assay results from its Phase I drill program at Doby George, Nevada, revealing high-grade gold and silver deposits. Notably, Hole DGC794 reported 26.06 meters of 6.93 g/t gold, highlighting the project's significant potential. The Aura Project contains extensive resources, including 652,271 gold equivalent ounces in the Indicated category and 665,357 ounces in the Inferred category. The company has successfully completed 836 drill holes with favorable metallurgy for cyanide heap leach processing. Recently, it raised approximately $1,140,000, with shares trading at $1.90.

Positive

• High-grade gold findings with Hole DGC794 reporting 26.06 meters of 6.93 g/t gold.
• Strong resource potential with 652,271 gold equivalent ounces indicated and 665,357 inferred.
• Recent funding of approximately $1,140,000 supports ongoing exploration efforts.

Negative

• None.

VANCOUVER, British Columbia, Jan. 18, 2023 (GLOBE NEWSWIRE) -- Western Exploration (TSXV:WEX) (OTCQX:WEXPF), a Nevada-focused gold and silver exploration company, has released additional assay results from the final four holes from its 2022 Phase I 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 video comments from CEO Darcy Marud. 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.

It 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, comprised of nine large diameter (PQ) core holes, was completed between July 26 and September 12, 2022. The drill holes, located at eight different drill sites, totaled 1,138 meters.

Highlights include Hole DGC794 with intersections of 26.06 meters of 6.93 g/t gold and 12.34 meters of 4.57 g/t gold, Hole DGC795 with an intersection of 30.94 meters of 2.07 g/t AuFA, and Hole DGC796 with an intersection of 16.76 meters of 2.12 g/t gold.

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 a 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.

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, 836 drill holes have been completed, totaling 116,355 meters of drilling. This includes 83 drill holes, totaling 23,760 meters that were drilled between 1998 and 2022 by Western Exploration LLC, which has a 25-year history of advancing exploration projects in Nevada as a private company.

The company is well financed having recent raised gross proceeds of approximately $1,140,000. The shares are trading at $1.90.

For more information, please visit the company’s website, www.WesternExploration.com, contact Darcy Marud, CEO, at 775-329-8119 or by email at DMarud@WesternExploration.com, or for Investor Relations, contact Nichole Cowles, at 775-240-4172 or by email at NicholeCowles@WesternExploration.com.

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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 Phase I drill program?

The latest assay results show high-grade intersections, including 26.06 meters of 6.93 g/t gold from Hole DGC794.

How much gold equivalent resource is identified at the Aura Project?

The Aura Project has 652,271 gold equivalent ounces in the Indicated category and 665,357 ounces in the Inferred category.

What is the stock symbol for Western Exploration?

The stock symbol for Western Exploration is WEXPF.

What is the current trading price of Western Exploration shares?

Western Exploration shares are currently trading at $1.90.

How much funding has Western Exploration raised recently?

Western Exploration has raised approximately $1,140,000 in recent funding.