info@westerngoldexploration.com
www.westerngoldexploration.com
TSX Venture: WGLD
NORTH BERWICK, Scotland, Aug.
19, 2021 /CNW/ - WESTERN GOLD EXPLORATION LTD. (TSXV:
WGLD) (the "Company") is pleased to announce that it
has filed its interim consolidated financial statements and
Management's Discussion and Analysis ("MD&A") for the three and
six months ended June 30, 2021, which
can be found under the Company's profile on SEDAR
(www.sedar.com).
The company, in April 2021,
initiated its exploration drilling program for the Stronchulin
prospect within the Knapdale property in Scotland. Priority Drilling were engaged to
drill eight diamond drill holes of 150 to 200 metres depth each,
for aggregate drilling of approximately 1,355 metres. Most of the
onsite activities were completed by the end of June, 2021. Core
samples have been shipped to ALS Global in Ireland for analysis. In the six months ended
June 30, 2021, the Company invested
approximately $938,000 in its
exploration and evaluation activities primarily on its Knapdale
property.
The drilling programme assay results are expected to be received
and analyzed in August and September
2021, which enable the Company to further to evaluate the
economic potential of the Stronchullin quartz-gold-silver-base
metal veins in the vicinity of the historic gold mine.
Ross McLellan, Chief Executive
Officer commented: "The diamond drilling programme at
Stronchullin progressed safely and as expected in Q2. We look
forward to analysing the assay results and planning the next phases
of the Company's drilling and exploration activities on its
Scottish properties."
About Western Gold Exploration
The
Company is a Mineral Exploration company that is listed on the TSX
Venture Exchange under the symbol "WGLD". The Company is focused on
the exploration of mineral properties in Western Scotland and discovering new
opportunities in the Dalradian Belt, targeting historic gold-silver
and copper-lead mines in the belt with the potential to develop a
mineral resource. Prospects include the Stronchullin mine, Gossan
Burn and Allt Dearg which are all located in the Knapdale Project
area.
Additional information about the Company is available on SEDAR
at www.sedar.com under the Company's profile.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS
This news release includes certain
"forward-looking statements" under applicable Canadian securities
legislation. Forward looking statements include, but are not
limited to, statements with respect to those that address potential
quantity and/or grade of minerals, potential for minerals and/or
mineral resources, timing and plans for any exploratory drilling
and statements regarding the plans, intentions, beliefs, and
current expectations of the Company with respect to the future
business activities and operating performance of the Company that
may be described herein. Forward-looking statements consist of
statements that are not purely historical, including any statements
regarding beliefs, plans, expectations, or intentions regarding the
future. Such information can generally be identified by the use of
forwarding-looking wording such as "may", "expect", "estimate",
"anticipate", "intend", "believe" and "continue" or the negative
thereof or similar variations. Readers are cautioned not to place
undue reliance on forward-looking statements, as there can be no
assurance that the plans, intentions or expectations upon which
they are based will occur.
By their nature,
forward-looking statements involve numerous assumptions, known and
unknown risks and uncertainties, both general and specific, that
contribute to the possibility that the predictions, estimates,
forecasts, projections and other forward-looking statements will
not occur. These assumptions, risks and - 5 - uncertainties
include, among other things, the state of the economy in general
and capital markets in particular, as well as those risk factors
discussed or referred to in the Company's Management's Discussion
and Analysis for the year ended December 31,
2020 available at www.sedar.com, many of which are beyond
the control of the Company. Forward-looking statements contained in
this press release are expressly qualified by this cautionary
statement.
The forward-looking statements contained in this press
release are made as of the date of this press release. Except as
required by law, the Company disclaims any intention and assumes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Additionally, the Company undertakes no obligation to comment on
the expectations of, or statements made by, third parties in
respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation
Service Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Western Gold Exploration Ltd
