Walker Announces Drilling to Resume on the Lapon Gold Project
Vancouver, British Columbia--(Newsfile Corp. - September 16, 2019) - Walker River Resources Corp. (TSXV: WRR) ("Walker" or the "Company") is pleased to announce that it will resume the 2019 reverse circulation ("RC") drilling on the Lapon Gold Project, located approximately 60 kilometres southeast of Yerington, Nevada.
Drilling will focus on the Lapon Rose and the new Rattlesnake Range Front areas of the Lapon Gold Project. The Company has been granted an additional 2-year Notice of Intent ("NOI") exploration permit by the U.S. Bureau of Land Management ("BLM") for drilling on the new Rattlesnake Range Front area, where a new discovery was previously announced (see news release 09-04-19). The Company can amend the NOI exploration permit over the next 2-years to increase the permitted disturbance areas for additional drill sites and access roads at Rattlesnake.
To date, mineralization has been discovered in a broad, altered, fractured and brecciated NE trending structural zone termed the Lapon Rose Zone. Anomalous gold values are denoted in many areas within this zone, and significant higher-grade mineralization over significant widths is located within sub vertical en echelon zones of intense alteration and gold enrichment.
In April 2019, the Company received a 2-year extension from the BLM for its NOI exploration permit to conduct further drilling on Lapon Canyon.
Walker's initial geological mapping and prospecting on the Project followed by its drill programs has demonstrated the potential for the emplacement of significant gold mineralization.
The 2019 exploration program is focused on the expansion and delineation of the gold mineralized zones discovered by the Company as well as Regional Exploration of other areas of the Project in the search for new mineralization and potential new discoveries.
Drilling will begin over the next few weeks, and the Company is planning for some 20 drill holes.
At the Lapon Rose zone, drilling discovered a new, previously unknown gold bearing alteration located some 400 feet from the south of the presently known gold bearing zone. Notably this mineralization was discovered below the granite.
Regional exploration on the company's new Rattlesnake range front portion of the Lapon project (four kilometres and west and 650 metres lower than Lapon Rose) has returned values of 17.36 g/t Au and 13.9 g/t Ag, from the interior of an historical adit.
Regional exploration, (geological mapping, prospecting and sampling) on the Company's new Pikes Peak portion ("Pikes Peak") of the Lapon Gold Project has returned values of 9 g/t Au, 39.4 g/t Ag, including 2.22% Cu (see news release 09-04-19).
The Lapon Rose Zone has now been drilled over a strike length of some 365 meters. The width of the zone exceeds 150 meters, and the zone has been drilled over a vertical extent of 400 meters. The zone remains open along strike and depth.
The 2019 drilling programs are designed to expand gold mineralized zones discovered by the Company and to discover and delineate new gold mineralized zones. Further results from the 2019 drill program are expected to be released shortly.
In addition, high grade gold and associated metals exist on Pikes Peak and Rattlesnake (see news release 09-04-19). Sampling has not yet been completed at Rattlesnake. An initial helicopter assisted reconnaissance program resulted in the discovery of an intensely altered and silicified zone, with sulphide mineralization at Rattlesnake. Historical workings were discovered at Pikes Peak and Rattlesnake, consisting of milling facilities, adits, shafts, drifts, open cuts and prospect pits.
Michel David, President states: "We continue to be excited and encouraged by results from our drilling and regional geological sampling programs. Not only have we discovered new gold, copper, and silver mineralization, our exploration programs have expanded our understanding of the Project and dramatically increased its potential. We continue our ongoing exploration program and anticipate further encouraging results."
Finally, the Company announces it is granting 2,000,000 incentive stock options to certain officers, directors, consultants, and employees of the Company to purchase up to a total of 2,000,000 common shares of the Company at a price of $0.105 per common share for a period of five years.
The stock options are subject to the terms of the Company's stock option plan and approval of the TSX Venture Exchange.
About the Lapon Gold Project
The Lapon Gold Project consists of 147 claims (2940 acres) that includes Lapon Canyon, the newly acquired Pikes Peaks claims 4 kilometers to the north and the Rattlesnake Range Front claims 3 kilometers to the west and over 600 meters lower than the present drilling at Lapon Canyon. The Lapon Gold Project is 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 company owns 100% of the property with 2% net smelter royalty payable on 36 of the claims.
The Lapon Gold 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 Gold 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 Canyon, and at least two can be traced for over four kilometers.
The Rattlesnake and Pikes Peak claims cover over 8 kilometers of possible extensions of the range front zones to the west, north and south of Lapon Canyon, adding several additional drill target areas to the Lapon Gold Project. Rattlesnake and Pikes Peak contain numerous historical workings that consist of, milling facilities several adits at different levels, underground workings with vertical shafts, and a network of existing roads providing access to connect all the historical workings.
Small-scale high-grade mining began at Lapon Canyon 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 at Lapon Canyon in the following years, included the installation of a ball mill and milling facilities.
Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance
All sampling was conducted under the supervision of the Company's project geologists and the chain of custody from the drill to the sample preparation facility was continuously monitored. A blank or certified reference material was inserted approximately every tenth sample. The Lapon samples were delivered to ALS Minerals certified laboratory facility in Reno, NV. The samples were crushed, pulverized and the sample pulps digested and analyzed for gold using fire assay fusion and a 50g gravimetric finish. Higher grade samples used a 1kg screen fire assay with screen to 100 microns and 50g gravimetric finish
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, and 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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