Walker Increases Land Positon at Lapon Canyon and New Project
Vancouver, British Columbia--(Newsfile Corp. - July 4, 2019) - Walker River Resources Corp. (TSXV: WRR) ("Walker" or the "Company") is pleased to announce that it has increased its land holdings at and adjacent to the Lapon Canyon gold project, located approximately 60 kilometres southeast of Yerington, Nevada.
Walker has increased its land holdings approximately 4 kilometres north of the Lapon Project by acquiring through staking, an additional 36 claims covering the new Pikes Peak Property. The Pikes Peak Property was discovered by Company geologists, during the current detailed geological and mapping survey of the Company's claim group and adjoining properties. The Pikes Peak property contains numerous historical workings consisting of underground workings with vertical shafts, milling facilities and a network of existing roads providing access to all the historical workings. The Pikes Peak property hosts the potential to provide a northern extension to the Lapon Canyon project's recently discovery range front zone.
Walker has also entered into a Purchase Agreement for the Rattlesnake Property, comprised of 15 unpatented lode claims on adjoining ground south of the Lapon project's recently discovery range front zone. (see news release 05-21-19) These additional claims cover possible extensions of the range front zones to the south and add several additional drill target areas to the project. The Rattlesnake property contains numerous historical workings consisting of, several adits at different levels, underground workings with vertical shafts, and a network of existing roads providing access to connect all the historical workings.
Walker can purchase an undivided one hundred percent (100%) undivided interest in the Rattlesnake Property as follows: (i) $10,000.00 USD (paid) upon signing of the purchase agreement. (ii) the issuance of 900,000 common shares of the Company within 5 business days upon receiving TSX Venture Exchange Approval. The transaction is subject to TSX Venture Exchange final approval.
Finally, the Company announces that phase I of the exploration program on the Garfield Flats Project with Smooth Rock Ventures Corp. (see news release 06-07-19) is underway. Phase I of the Garfield Flats exploration program will consist of reconnaissance prospecting, geological mapping, surface trenching, relocating historical workings and 282 kilometers (175 miles) of ground based geophysical surveys. This phase I program will provide accurate modern data to assist in the planning of the phase II drill program. Phase I is expected to last for six to eight weeks, with phase II expected to begin following the compilation of the phase I results, later in 2019.
About the Lapon Canyon Project
The Lapon Project now consists of 111 claims (2,220 acres) situated in the Wassuk Range, easily accessible by secondary state roads from the main highway (25 kilometres). A state grid power transmission line passes within three kilometres of the Lapon Project. The Lapon Project is located within the Walker Lane shear zone, a 100-kilometre-wide structural corridor extending in a southeast direction from Reno, Nevada. Within this trend, numerous gold, silver, and copper mines are located, notably the historic Comstock Lode mines in Virginia City. Also, the past producing Esmeralda/Aurora gold mine, with reported production of some one million ounces and the Anaconda open pit copper mine in Yerington, Nevada.
The Lapon Project is cut by a series of steeply dipping cross fault structures cutting across the Walker trend, analogous to other cross fault structures responsible for many gold and base metal deposits in the world. These faults are heavily sheared and altered (sericite, iron oxides) with abundant silica, varying in width from 60 to 300 meters. Four of these structures have been discovered at Lapon, and at least two can be traced for over four kilometers.
Small scale high grade mining began on the project in 1914. Approximately 600 meters of drifts and raises were developed from two adits and a two-stamp mill was built. Further underground work was carried out, returning numerous assay values in the range of one ounce per ton, with a sample at the end of an adit returning 20.6 ounces per ton. (National Instrument 43-101, Montgomery and Barr, 2004). Additional work on the Project in the following years, included the installation of a ball mill and milling facilities.
The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by E. Gauthier, geol., Eng (OIQ) a director of the Company, a Qualified Person as defined by NI 43-101, Standards of Disclosure for Mineral Projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer and Director
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