Walcott
Recognizes
Exploration
Potential
at
Newly
Acquired
Century South Silver-Zinc
Project in the Prospective
Mt.
Isa Basin,
Australia
Vancouver, British
Columbia--(November 12,
2020) - Walcott
Resources Ltd. (CSE: WAL,
FWB: WR2, OTC:
WALRF)
(the "Company"
or "Walcott")
is pleased to announce preliminary work by
its
Australian
technical
team
has identified key elements
at
the Century South
Silver-Zinc Project ("CSSZP") in north-west Queensland
that the
Company believes enhance exploration potential.
Highlights
Walcott's
CSSZP
consists of
approximately 277 square kms and is located in
a highly
prospective region - the Mt Isa Basin
which
hosts several
world-class silver-zinc-lead and copper deposits, yet much of the
region remains under-explored.
The
CSSZP is
approximately
8km
along strike from New Century Resources' (ASX: NCZ)
world-class
Century
Mine1
that
recommenced mining
operations in 2018:
-
The two projects
are on the
same regional fault line which is
known to control and constrain silver-zinc mineralization
in the
district;
-
Both CSSZP and
Century Mine are hosted in the same Lawn Hill Platform which is
within the Western Fold Belt; and
-
There
are similarities
between the magnetic / density geophysical
characteristics apparent at CSSZP and Century
Mine2,
indicating
that the
underlying geology might be comparable.
CSSZP is
located in a
well-established mining district with reliable infrastructure and
access to nearby ports. In terms of power
infrastructure; 90% the tenement lies within the 10km transmission
network corridor as powerlines run through the centre of the
EPM26713. The remaining 10% on the easternmost perimeter lies
within the 30km transmission network corridor.
Walcott's technical
team plans to undertake a site visit and commence a wide-spread
surface sampling campaign, focused along the prospective regional
fault.
CEO
David
Thornley-Hall remarked:
"We
are excited by the strong fundamentals linked to our
Century South
Silver-Zinc
Project,
and we anticipate
committing to a significant work program on this property.
Accordingly, our
Australian technical team have set an ambitious
agenda to swiftly and effectively advance towards
drillable targets
within the tenure."
CENTURY SOUTH
SILVER-ZINC PROJECT, MT ISA BASIN, QUEENSLAND
The Century South
Silver-Zinc Project (CSSZP) is located in the Mt Isa Basin
in north-west Queensland, a world-renowned region of large-scale silver-zinc deposits.
Some
six major
silver-zinc-lead operations and
several world class copper deposits with established mining
infrastructure are found in the region
(Figure
1).
Exploration
efforts
over the past
century led to the discovery of the
deposits and numerous other
silver-zinc occurrences within the Mt Isa
region. Walcott and its consultants
believe there is excellent exploration potential in the region and
at the CSSZP.
FIGURE
1:
CENTURY SOUTH SILVER- ZINC PROJECT
LOCATION IN MT ISA BASIN 
Source:
Walcott technical team
High profile
neighbour
About
8km
north-west from CSSZP, along the same regional
structure, is New Century Resources' Century Mine (Figure
2).
The
Century Mine
re-opened in late
20181.
FIGURE 2:
REGIONAL FAULT LINE WHICH CONSTRAINS
MINERALIZATION
Source:
Walcott technical team
For the 12-months
ended 30 June 20203,
the Century Mine produced 8.4Mt of ore with average grades at
13.5 g/t Ag
and 2.96% Zn, containing
1.14Moz silver and
117kt zinc metal.
Next
Steps
Planning for a more
detailed exploration program is underway. A combination of field mapping,
rock chip, soil and stream sediment sampling will be completed in
the first stage. A field visit and orientation exercise are planned to get underway
shortly in
order to facilitate assessment of
the overall size
and areas of
interest in the target areas.
Concurrently,
the technical team is formulating plans to visit the
Tyr Silver Project in northern New South Wales, which is home to
two historic silver mines and a 20km by 4km potentially mineralized system. A key
focus of the
program envisaged is surface sampling near the old
silver mines and other targets to reconcile historic data and
exploration reports. To date, all the relevant landholders
have been notified by registered mail of the forthcoming field
visit by the geology team, which should be able to
commence within a few weeks.
Marketing
Programs
The Company further
announces that it has engaged Electrik Dojo LLC ("Electrik") and World Wide Media Group LLC
("World
Wide") for
native advertising and digital marketing services to increase brand
awareness for the Company. The compensation to
Electrik
and World Wide
are US$120,000 and
US$175,000,
respectively, for four-month terms.
The Company has
also engaged Aktiencheck.de AG for a European marketing awareness
program on a one-month term for EUR100,000.
Certain services to
be provided by these engagements
are anticipated to
include investor relations activities under the policies of the CSE
and applicable securities laws. The company will continue to look
at strategic consultants to expand awareness of the Company and its
activities.
ON BEHALF OF
THE BOARD OF
DIRECTORS,
David
Thornley-Hall
CEO and
Director
For further
information on the Company, please email requests to:
David@walcottresources.com
About Walcott
Resources Ltd.
Walcott is a
British Columbia based Company involved in the acquisition and
exploration of mineral properties in Canada and Australia. The
Company holds an option to acquire a 100% undivided interest,
subject to a 1.5% NSR on all base, rare earth elements and precious
metals, in the Cobalt Hill copper-gold-cobalt property (the
"Property"), consisting of eight mineral claims covering an area of
approximately 1,727.43 hectares located in the Trail Creek Mining
Division in the Province of British Columbia, Canada.
In addition, the
Company has acquired 60% of two silver assets in Australia
– the Tyr Silver Project in northern New South Wales and Century
South Silver-Zinc Project in north-west Queensland.
Qualified
Person
The preparation of
this presentation was supervised and personally edited by
Mr.
Matthew Stephens,
Fellow of the Australian Institute of Geoscientists and
an
independent Qualified Person under NI
43-101. Mr. Stephens has reviewed and
approved the content of this
news
release.
The CSE does not
accept responsibility for the adequacy or accuracy of this
release.
The Canadian
Securities has neither approved nor disapproved the contents of
this press release.
This press release
includes "forward-looking information" that is subject to a number
of assumptions, risks and uncertainties, many of which are beyond
the control of the Company. Forward-looking statements may include
but are not limited to, statements relating to the trading of the
Company's common shares on the Exchange
and the Company's use of proceeds and are subject to all of the
risks and uncertainties normally incident to such
events.
Investors
are cautioned that any such statements are not guarantees of future
events and that actual events or developments may differ materially
from those projected in the forward-looking statements. Such
forward-looking statements represent management's best judgment
based on information currently available.
References
1) New Century
Resources 2019 Annual Report. Available from: https://www.newcenturyresources.com/wp-content/uploads/2019/10/2019-Annual-Report.pdf
2) Geological
Survey of Queensland. Available from: https://www.business.qld.gov.au/industries/mining-energy-water/resources/geoscience-information/gsq
3) New Century
Resources Quarterly Activities Report for the three months ending
30 June 2020. Available from: https://wcsecure.weblink.com.au/pdf/NCZ/02260299.pdf
