Williams Creek Gold Limited Reports Initial Results from its Ongoing Phase I Exploration Program on it Barkerville Property
July 07 2011 - 7:30AM
Marketwired
Williams Creek Gold Limited (TSX VENTURE: WCX) ("Williams Creek" or
"the Company") is pleased to announce the results for the initial
holes drilled as part of its 2011 exploration program on its
Barkerville property. The Barkerville property consists of 28 Crown
Granted claims immediately east of Barkerville Gold Mines' Bonanza
Ledge pit, currently pending permitting, and south of the town of
Barkerville.
The diamond drill holes reported here are a six-hole section
drilled on azimuth 185 degrees which, following the intercept in
the first hole, was designed to intersect a newly recognized quartz
vein structure at roughly fifty foot intervals down dip. The drill
station is located on the Stout's Gulch Road immediately south of
Stout's Gulch Creek on the Wintrip (32F) Crown Granted mineral
claim.
A second section, consisting of 3 holes, was completed 100 feet
to the west, (assays pending). Step-out drilling to the east is
planned in fall 2011 once the Barkerville Historic Town's tourist
season has ended.
The significant assay results for the initial fan of six holes
are:
Intercept (ft) Interval Gold Grade
Hole Number Angle Azimuth From - To (ft) (Grams/Metric Tonne)
---------------------------------------------------------------------------
WCX-11-1 -45 185 263.7 - 266.4 2.7(i) 14.344
309.2 - 315.7 6.5 31.278
WCX-11-2 -56 185 324.5 - 334.1 9.6 39.305
Including 331.3 - 334.1 2.8 130
WCX-11-3 -65 185 306.5 - 309.0 2.5(i) 17.95
337.0 - 366.0 29.0 8.357
Including 337.0 - 341.7 4.7 17.95
345.8 - 349.0 3.2 12.7
351.6 - 355.7 4.1 9.4
364.2 - 366.0 1.8 42.5
WCX-11-4 -70 185 354.2 - 362.3 8.1(i) 2.590
376.0 - 400.7 24.7 1.440
WCX-11-5 -76 185 377.0 - 382.2 5.2 16.500
397.8 - 417.9 20.1 1.117
WCX-11-6 -83 185 335.9 - 345.4 9.5(i) 5.639
Including 339.5 - 341.6 2.1 22.3
409.0 - 414.4 5.4 27.576
435.8 - 437.4 1.6 21.5
(i) hanging wall structure
The pyrite bearing-quartz vein system encountered in these holes
dips to the north and appears to have the typical symoidal pattern
progressing to depth, although this remains to be confirmed. The
vein recognized in the drilling reported here is in Stouts Gulch,
an area which was historically the site of several major placer and
lode mining operations on the Barkerville property.
The vein described here is hosted in clastic sedimentary rocks
of Paleozoic and possible Proterozoic age. The rocks are
metamorphosed to Greenschist facies and are part of the
poly-deformed Barkerville sub-terrane of the Kootenay terrane. The
host rocks are similar to the rock sequence that hosts the major
historical gold producers along strike to the west (Cariboo Gold
Quartz and Island Mountain mines). The lithologies include impure
quartzite, siltite, and argillite, including black carbonaceous
argillite. However, lithologic similarities of the stratigraphic
units in the area make detailed correlation difficult at this early
stage of our program. Veins in the historical mines and new
discoveries in the district are typically spatially associated with
faults including carbonaceous gouge zones.
Historical drilling in the area was directed approximately
east-west. The new holes were drilled to the south, to test north
dipping stratigraphy and possible strike veins, in the area of the
historical Wintrip, Westport and Blackjack adits. These preliminary
results will be followed up in a Phase II drilling and trenching
program in the fall of 2011 that is currently in the planning
stage.
Williams Creek Gold concluded its Phase I drilling program as of
July 4, 2011. The program began on May 5th and consisted of 16,164
feet (4926.8 meters) of diamond drilling on 10 set-up sites with a
total of 23 drill holes (assays pending). The Phase I trenching
component on Crown Granted claims 32F Wintrip and District Lot
10504 Morningstar is expected to commence in July once a review of
the historic core samples has been completed.
Michael R. Sonnenreich, Chairman and CEO of Williams Creek Gold,
commented, "We are very pleased with these results since they both
confirm the presence of veins with significant grades of gold in
the Stouts Gulch area, and conform to our exploration strategy. We
are especially gratified that the first holes that we have drilled
on the property in the 2011 program produced such positive
results."
The technical information in this news release has been reviewed
and approved by consulting geologist John F. Childs, PhD., Childs
Geoscience Inc. Consulting Economic Geologists of Bozeman Montana,
a qualified person as defined in National Instrument 43-101.
About Williams Creek Gold Limited (WCX)
Visit http://www.WilliamsCreek.ca to learn more about Williams
Creek Gold Limited.
Williams Creek Gold Limited owns twenty-eight Crown Granted
mineral claims known as the Westport Project in the immediate
vicinity of Barkerville, BC in the Cariboo mining division. The
Cariboo gold belt and the Barkerville Camp have a long history of
gold production dating back to the 1800s. Historically the
Barkerville Camp has reported gold production of 3.8 million
ounces, including 2.6 million ounces from surface placer and 1.2
million ounces from lode mining. When placer gold production peaked
in the late 1890s, Williams Creek Gold's Black Jack (District Lot
1B), Home Stake (District Lot 4B), Cornish (District Lot 1F) and
Wintrip (District Lot 32F) Crown Granted mineral claims were among
the first acquired in the early search for lode gold.
Williams Creek Gold Limited also owns a block of four mineral
claims 17km west of Barkerville known as the Pine Properties. The
Company has three Crown Granted mineral claims in the Kamloops
Mining Division, two of which are adjacent to New Gold's New Afton
project. Additionally, Williams Creek Gold Limited has a net 30%
interest in the ATW diamond property in the MacKenzie Mining
District of the Northwest Territories.
Williams Creek Gold Limited is a Canadian company with the
primary purpose of participating broadly in the natural resource
sector, with an emphasis on the gold subsector, through
exploration, joint ventures or other equity investments, royalty
and finance agreements.
On behalf of the Board of Directors,
Michael R. Sonnenreich, Chairman and CEO
This News Release contains forward-looking statements.
Forward-looking statements are statements which relate to future
events and conditions and therefore involve inherent risks and
uncertainties. These statements are only predictions and involve
known and unknown risks, uncertainties and other factors that may
cause our or our industry's actual results, levels of activity,
performance or achievements to be materially different from any
future results, levels of activity, performance or achievements
expressed or implied by these forward-looking statements. While
these forward-looking statements, and any assumptions upon which
they are based, are made in good faith and reflect our current
judgment regarding the direction of our industry, actual results
will almost always vary, sometimes materially, from any estimates,
predictions, projections, assumptions or other future performance
suggested herein. Except as required by applicable law, the Company
does not intend to update any of the forward-looking statements to
conform these statements to actual results. All phases of the
Company's operations are subject to environmental regulation and
governmental approval and permits and there can be no assurance
that the Company will obtain all the requisite permits for future
development. Mining is an inherently risky business with large
capital expenditures and cyclical metals markets.
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 release.
Contacts: Williams Creek Gold Limited Michael R. Sonnenreich
Chairman and CEO (778) 370-1393 (604) 688-1320 (FAX)
www.WilliamsCreek.ca