WestKam Provides Shareholder Update
07 November 2018 - 1:00AM
WestKam Gold Corp. (TSX-V: WKG) (the
“
Company” or
“WestKam”) has
provided the following shareholder update from President and CEO
Matt Wayrynen regarding the Company’s direction and vision for the
future—particularly regarding WestKam’s Bonaparte property near
Kamloops, BC.
WestKam’s Vision and Focus: Realizing the Exceptional
Potential at BonaparteThe Bonaparte gold property remains
an exceptional gold prospect, and we have renewed our focus on
realizing the property’s potential. Our vision is to explore and
develop the property to the point where we can either vend it to a
major mining company or put it into production ourselves. To
realize this vision, we are developing a long-term plan for
exploring not only the Discovery Zone, but other targets discovered
through the successful exploration programs in 2013, 2014 and
2015.
Recent Work on the Discovery ZoneOur work over
the past two years has centered on the high-grade Discovery Zone.
We attempted to reach the next target, primarily in the Grey Jay,
Crow, Owl and Nutcracker vein structures, through another bulk
sample program. This program was unsuccessful in reaching the zone
and was suspended in 2018. We followed up with a program of eight
drill holes in September, aimed at the same target zone. We expect
to have results from the 2018 drilling later this year.
Where We’re Going: Exploration Plans for 2019 and
BeyondThe Discovery Zone has produced significant high
grades in the past, especially in two bulk sampling programs. The
first program, conducted in 1994, averaged 25.4 g/t gold (0.74
oz/ton gold) while a smaller sample in 2010 averaged 16.3 g/t gold
(0.475 oz/ton gold). These are strong results, highlighting the
potential of the Discovery Zone and illustrating why we are
enthused about continuing our exploration.
Looking ahead to 2019, results of the 2018 drill program will
inform a planned NI 43-101 Technical Report on Bonaparte and
follow-up field program of exploration. We want to further
investigate the magnetic and IP surveys completed in 2013 and 2014,
initiating a drill program to test the various geophysical
signatures resulting from those surveys. We also want to follow up
on drill hole 2015-05 which intersected a new vein to the east of
the discovery zone returning 7.88g/t Au and 38.4g/t Ag over
1.0m.
Bonaparte’s AdvantagesBonaparte is a large
property (2,461.35 hectares/6,081.9 acres) with many targets and
much ground yet to be explored. Access is remarkably easy through
main highways to Kamloops and good two-wheel drive roads to the
property. Kamloops is a mining-friendly region with excellent
infrastructure, and we have the world’s best mining talent right
here in Vancouver, just a four-hour drive away.
Funding Our Proposed WorkOur plans require
funding, of course. In that regard we are now considering various
plans for raising fresh working capital and building a strong
company for the future.
I’m most grateful for the guidance shown by our Board and for
the patience and input of our shareholders. I believe we can look
forward to an exciting 2019 and beyond for WestKam.
About WestKam Gold Corp.WestKam is a Canadian
gold exploration company focused on developing the Bonaparte Gold
Project near Kamloops, British Columbia. Additional
information can be found on the Company’s website at
www.westkamgold.com.
Technical information in this document has been reviewed by R.
Kemp, P. Geo., a Qualified Person as that term has been defined in
NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
“Matt Wayrynen”
Matthew J.
Wayrynen, President & CEO
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WestKam Gold Corp.Suite 900, 570 Granville
StreetVancouver, BC V6C 3P1 |
Contact: |
Investor Relationsir@westkamgold.comwww.westkamgold.com |
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Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
Forward-looking informationAll
statements included in this press release that address activities,
events or developments that the Company expects, believes or
anticipates will or may occur in the future are forward-looking
statements. In particular, this news release contains
forward-looking information regarding the Offering and the use of
proceeds of the Offering. These forward-looking statements involve
numerous assumptions made by the Company based on its experience,
perception of historical trends, current conditions, expected
future developments and other factors it believes are appropriate
in the circumstances. These assumptions include, but are not
limited to: TSXV acceptance of the Offering; future costs and
expenses being based on historical costs and expenses, adjusted for
inflation; and market demand for, and market acceptance of, the
Offering. In addition, these statements involve substantial
known and unknown risks and uncertainties that contribute to the
possibility that the predictions, forecasts, projections and other
forward-looking statements will prove inaccurate, certain of which
are beyond the Company’s control. Readers should not place
undue reliance on forward-looking statements. Except as
required by law, the Company does not intend to revise or update
these forward-looking statements after the date hereof or revise
them to reflect the occurrence of future unanticipated events.
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