LAC LA HACHE, BRITISH COLUMBIA - GWR Resources Inc. (the “Company” or “GWR”) (TSX Venture: GWQ) is pleased to report additional drill core assays from the winter 2011 Program within the Spout Copper-Magnetite-Gold-Silver Zones located on the Lac La Hache Project in central British Columbia. These zones continue to produce many 2-meter assays exceeding 1% Cu and Fe exceeding 20%. Previously, grades up to 8% Cu and 66% Fe have been reported, and GWR is pleased to report new high grade results in DDH SL11-177.
The Spout Zones were discovered several decades ago during follow-up to airborne magnetic anomalies on regional government surveys. Drilling was conducted in the 1970s, 1990s and as recently as 2005, but failed to define continuity between relatively sparse holes. In 2010 GWR recognized the potential of the historical results and conducted detailed ground magnetic surveys to improve interpretation and support an aggressive drill program using 20 and 25 meter collar spacings. Magnetic survey values are some of the highest in BC (ground values in excess of 81,000 nanoTeslas in a background of 53,000 nanoTeslas).
Direct vectoring of the magnetic mineralization has allowed unusually high success rates, with relatively few holes - those drilled near the edges of anomalies - not intersecting economic grades of copper-magnetite (See assay tabulation, maps, sections and photos at www.gwrresources.com). Independent Davis Tube Recovery tests conducted by GNT Metallurgical, Kamloops, show a high correlation of Fe% assays reported by ALS Minerals with recoverable magnetite content: the Fe assays are good proxies for magnetite content. Additional metallurgical tests completed by Imperial Metals at their Mount Polley site showed positive results, as previously reported.
Preliminary grade/tonnage estimates and wireframe zone models produced by SRK, based on drilling to April 2011, provided guidance for additional infill or perimeter drilling to define limits of the near-surface possibly open-pitable mineralization within the horizontal South Zone and upper parts of the vertical North Zone. (see several images within the new Jan 23 Presentation at www.gwrresources.com/s/Presentations.asp). Assays for 9 holes from this second phase of drilling were reported Oct 18 2011 (see News Release at www.gwrresources.com/s/NewsReleases.asp).
Assay results for the remaining perimeter and in-fill holes were delayed but have now been received and are tabulated below. Note that a series of perimeter holes (SL11-151 to SL11-158) drilled far outside the main magnetic trends tested weak magnetic anomalies and encountered, predictably, low metal values and are not shown below. However, the 3-dimensional distribution of non-economic, but detectable metal values and other elements within these holes supports interpretation of a genetic model for the Spout Zones, providing exploration vectors useful within Spout and in planned (summer 2012) testing the continuation, as larger magnetic anomalies, located on GWR’s new Murphy Block, to the north (see January 23, 2012 News Release).
Hole SL11-177 was designed to test continuity of high-grade trends established within the vertical North Zone structure, as predicted from previous drilling, at moderate depths of less than 250 m vertically. Results clearly prove this to be the case. Other high grade trends exist, all remain open to depth. GWR believes these intersections offer significant additional tonnage, in-filling gaps in the current resource model.
Update: SRK is currently working to update the preliminary Spout Zones resource model, adding information from approximately 36 new holes. This will support revised grade/tonnage estimates, now scheduled for delivery to GWR mid-February 2012.
|Sl11-160||S + N||495.0||0.30||0.07||1.11||9.9||38.0||59.0||97.0|
This news release may contain “forward-looking statements”. Readers are cautioned that any such statements are not guarantees of future performance and that actual development or results may vary materially from those in these “forward looking statements”.
GWR is an active mineral exploration company currently exploring for gold and base metals on two properties within Canada. The Lac La Hache copper-gold porphyry project hosts multiple zones containing commercial grades of gold, copper, silver and magnetite. The project is located in British Columbia’s prolific Quesnel Trough between producing mines at Imperial Metals’ Mt. Polley Copper-Gold Mine and New Gold Inc.’s New Afton Copper-Gold project (Teck-Cominco’s legendary Afton mine). The Lac La Hache project is well-served by rail, road and power infrastructure. The Sainte Sabine gold (+Ag, Zn, Cu) property is located within the Bellechasse Mineral Belt in southeastern Quebec, adjacent to known zones on Golden Hope Mines’ Bellechasse Project.
For further information, please contact:
John van Driesum, President/CEO
Telephone Number: 778-440-4472
Rob Shives, VP Exploration
Telephone Number: office 250-396-4978 / cell 613-882-1755
GWR maintains a quality assurance/quality control program that conforms to the requirements of National Instrument 43-101. Rob Shives, P. Geo., is the Qualified Person (as defined by NI43-101) who accepts responsibility for the technical content of this news release.
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