Williams Creek Gold Limited Stakes New Claims in Nevada
September 06 2011 - 9:44AM
Marketwired
Williams Creek Gold Limited (TSX VENTURE: WCX) ("Williams Creek,"
"WCX," or "the Company") is pleased to announce that it has staked
32 unpatented lode mining claims in Pershing County, Nevada,
approximately 40 miles south of Battle Mountain. The claims,
referred to as the BOPS Project, are a new discovery resulting from
a regional reconnaissance exploration program begun by Williams
Creek in the spring of 2011. The property lies within the Northern
Nevada Rift, a significant major crustal feature in northern and
central Nevada that appears to be a critical component in the
genesis of economic precious metals deposits in this part of the
state.
The property lies close to the termination of a linear trend of
historic mercury mines and prospects and is in an area that has
previously been explored only in a limited fashion. The proposed
model for the type of deposit that Williams Creek envisions at BOPS
is an epithermal, hot springs gold-silver (Au-Ag) system similar to
numerous other gold deposits in Nevada.
Geology:
The alteration exposed at the surface is interpreted as
representing the uppermost level of the hot springs model, with the
potential for both disseminated low-grade mineralization and
possible vein or stockwork type deposits at depth. The project
requires an exploration program based on a multidisciplinary
approach, including surface geochemical sampling, ground-based
geophysical surveys and eventually moderate to deep exploration
drilling. The nearest known gold deposit is at Goldbanks, roughly
15 miles to the northwest. The mineralization at Goldbanks starts
at a depth of approximately 45 meters to 60 meters below the
current ground surface. Prior to the 1960's, the upper level
opalite deposits at Goldbanks were exploited for mercury. Geologic
mapping at BOPS has identified a similar opalite with a strike
length of nearly 1.5 km with a yet-to-be-determined overall
thickness. The Goldbanks deposit occurs in a north-south linear
basin where coarse Tertiary clastic basin-fill material, unexposed
at the surface, is silicified, cut by quartz stockworking, and also
includes high-angle narrow high grades enhancing the grade in the
silicified units. The basin at BOPS also appears to be linear, with
a similar north-south orientation. The Tertiary volcanic and
sedimentary units at BOPS are similar in nature to comparable age
volcanic and sedimentary units found at Goldbanks. Due to the zoned
nature of hot springs Au-Ag deposits, the upper levels are commonly
barren of precious metals, making the need for systematic
evaluation particularly important. Similar occurrences are found in
a number of districts in Nevada, including the Ivanhoe and Midas
areas, as well as several examples from the Walker Lane area.
Regional aeromagnetic data from the general area of the BOPS
Project suggests the possible existence of a buried intrusive body
nearby, a good sign that may indicate that the heat engine needed
to generate hydrothermal fluid circulation and mobilization of
metals, often provided by these unexposed igneous features, may be
present at BOPS.
Corporate:
The claims are held by Williams Creek Nevada LLC, a Nevada
corporation and wholly owned subsidiary of Williams Creek Gold
Limited.
"The BOPS Project is at the earliest stages of exploration and
will require diligence and perseverance to determine the nature of
the alteration zone and the potential for an exploitable mineral
deposit at depth," said Michael R. Sonnenreich, Chairman and CEO of
Williams Creek. "The project is at the grass-roots end of a
spectrum of properties that Williams Creek is currently engaged
with, and, when combined with our assets in British Columbia,
exemplifies our approach to the exploration component of WCX's
three part strategy of exploration, joint ventures and investment,
and financing."
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.
On behalf of the Board of Directors,
Michael R. Sonnenreich, Chairman and CEO
About Williams Creek Gold Limited (WCX)
Visit http://www.WilliamsCreek.ca to learn more about Williams
Creek Gold Limited.
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.
Williams Creek Gold Limited owns twenty-eight Crown Granted
mineral claims known as the Barkerville 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 also holds
the BOPS Project consisting of 32 unpatented lode mining claims in
Pershing County, Nevada.
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
(778) 370-1393 (604) 688-1320 www.WilliamsCreek.ca