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- Detailed logging and additional sampling of the coreholes from
Block B, Target B1 drill program, including intervals totalling
approximately 700 meters in holes WA20-004, WA20-005, WA20-006,
WA20-013 (see Figures 1 and 2), for potential expansion of
precious and base metals intercepts
- Recent drill program targeted banded iron formation (BIF) and
shear zones, confirmed geological settings and conditions
favourable for the development of orogenic gold deposits in the
area and highlighted anomalous values for nickel and chromium
- Target B1 is one of numerous targets for follow up and drilling
so far identified within Blocks A and B (for more details
regarding the additional drill targets please refer to the
corporate presentation available at www.westernar.com)
- Logistics for 2021 drill program underway. Drilling of Block A,
North of Block B and located between Agnico Eagle's Meadowbank and
Amaruq mines, is planned for this year.
VANCOUVER, BC, Jan. 25, 2021
/CNW/ - Western Atlas Resources Inc. ("Western Atlas"
or the "Company") (TSXV: WA), announces that after receiving
clearance from the Chief Public Health Officer of Nunavut ("CPHO") and after having completed
the initial logging and selective sampling program, the
Company will perform additional detailled logging and full sampling
(the "Program") of the coreholes from the drill program conducted
this past summer on Block B, Target B1 at its 100% owned Meadowbank
Gold Project (Nunavut, Canada).
After completing the current 14 days quarantine the team will be
based in Baker Lake, Nunavut.
Target B1 is one of numerous targets for follow up and drilling
so far identified within Blocks A and B. Drilling of Block A, North
of Block B, located between Agnico Eagle's Meadowbank and Amaruq
mines, is being planned for next drill program.
The 2020 drill program targeted banded iron formation (BIF) and
shear zones, confirmed geological settings and conditions
favourable for the development of orogenic gold deposits in the
area and highlighted anomalous values for nickel and chromium.
The proposed Logging and Sampling includes (see Figures 1 and
2):
- WA20-004: Intervals totalling approximately 200 meters
- WA20-005: Intervals totalling approximately 265 meters
- WA20-006: Intervals totalling approximately130 meters
- WA20-013: Intervals totalling approximately 100 meters
Fabio Capponi, CEO stated: "We
are very pleased to be able to advance with additional geological
and logistical work while committing to the safety and well-being
of all our employees and that of the Nunavut community in which the Company
operates. The 2020 drill program was the first of several
drill programs the Company intends to undertake in order to test
our Meadowbank Project's prospective targets. Moreover, the
Company continues advancing with future and potential corporate
development initiatives in order to unlock long term value for our
shareholders".
2020 Diamond Drill Program Summary:
- WA20-003 intercepted 0.30 m at
1.27 g/t Au and 12.30 g/t Ag from 253.23
m, and 0.77 m at 0.15% Zn from
245.08 m (Zone 1);
- WA20-013 intercepted 0.45 m at
1.39 g/t Au from 5.20 m, 7.38 m at 0.12% Ni and 0.21% Cr from 142.42 m and 9.33 m
at 0.14% Ni and 0.21% Cr from 177.70
m (Zone 2);
- WA20-004 intercepted 7.75 m at
0.12% Ni and 0.21% Cr from 102.15 m
(Zone 2);
- WA20-005 intercepted 8.45 m at
0.15% Ni and 0.25% Cr from 85.40 m
(Zone 2);
- WA20-006 intercepted 11.60 m at
0.10% Ni and 0.25% Cr from 205.23 m
and 2.23 m at 0.12% Ni and 0.27% Cr
from 239.66 m and 2.75 m at 0.10% Ni and 0.22% Cr from 249.15 m (Zone 2);
- WA20-011 intercepted 2.98 m at
0.15% Ni and 0.22% Cr from 119.75 m
(Zone 5);
The 2020 drill program was the first drill program ever on these
properties and consisted of 13 drill holes for a total of 3,545
meters drilled in Target B1, Block B, south of Agnico Eagle's
Meadowbank mine and contiguous to Agnico Eagle's Greyhound
project.
Paul Chamois, P.Geo, is the Qualified Person as defined by
National Instrument 43-101 and is responsible for reviewing and
supervising the preparation of the scientific and technical
disclosure in this news release.
About Western Atlas
The Company's common shares are listed on the TSX Venture
Exchange under the symbol WA. Western Atlas is focused on the
acquisition and development of scalable precious metals projects in
premier mining jurisdictions. Western Atlas's wholly owned
subsidiary, 5530 Nunavut Inc., holds its interests in the
Meadowbank project located in Nunavut,
Canada.
Cautionary Statement Regarding Forward-Looking
Information
This news release includes certain "forward-looking statements"
under applicable Canadian securities legislation that are not
historical facts. Forward-looking statements involve risks,
uncertainties, and other factors that could cause actual results,
performance, prospects, and opportunities to differ materially from
those expressed or implied by such forward-looking statements.
Forward-looking statements in this news release include, but are
not limited to, statements with respect to the Company's
objectives, goals or future plans; the receipt of the requisite
approvals with respect to the business and operations of the
Company. Forward-looking statements are necessarily based on a
number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties
and other factors which may cause actual results and future events
to differ materially from those expressed or implied by such
forward-looking statements. Such factors include, but are not
limited to: general business, economic and social uncertainties;
litigation, legislative, environmental and other judicial,
regulatory, political and competitive developments; delay or
failure to receive board, shareholder or regulatory approvals;
those additional risks set out in Western Atlas's public documents
filed on SEDAR at www.sedar.com; and other matters discussed in
this news release. Although Western Atlas believes that the
assumptions and factors used in preparing the forward-looking
statements are reasonable, undue reliance should not be placed on
these statements, which only apply as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. Except where required by
law, Western Atlas disclaims any intention or obligation to update
or revise any forward-looking statement, whether as a result of new
information, future events, or otherwise.
Reader Advisory 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.
SOURCE Western Atlas Resources
