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Feature article August 26, 2016:
WestKam Gold Corp. initiates
10,000t bulk sample, last two bulk samples averaged 26.5 g/T and
16.28 g/T Gold
WestKam Gold Corp.
WKG) (US: ERRCF) (FSE: OUH2)
WKG.V is due for
near-term upside share price revaluation to reflect the large
inherent value of gold at the Company's 100%-owned Bonaparte Gold
Project, 50 km NW of Kamloops BC;
Permitted for 10,000 tonne bulk sample using
existing decline, through the same vein system that yielded 26.5
g/T Gold from bulk sample in 1994 (on 3,700t), and 16.5
g/T from bulk sample in 2010 (on 364.6 dry short tons).
The Bonapart Gold Project hosts a series of
well-developed shear/fracture zones hosting near-surface quartz
veins. Drilling has encountered exceptionally high-grade gold
intersections in the 'Discovery Zone'.
Additional info from drilling indicates a
minimum 200 meter extension in width to the regional structure,
with more high-grade veins expected to lie within.
Highly prospective for new discovery on new
'Cooler Creek' high-grade gold zone along trend.
Underexplored 2,216 hectares land package: Government report indicates
the property has potential for large copper-gold porphyry
(similar to what was demonstrated at nearby Highland Valley of
Teck and New Afton Mine of
Stable mining-friendly jurisdiction, experienced management team, and skilled
WestKam Gold Corp. (TSX-V:
WKG) (US Listing: ERRCF) (Frankfurt: OUH2) is at the initial
stages of a
10,000 tonne bulk sample on its 100%-owned Bonaparte Gold Project, located 50 km northwest of
Kamloops in British Columbia, Canada. This bulk sample is proximal
the last two bulk samples which averaged 26.5 g/T and 16.28 g/T
Gold, testimony to the exceptionally high-grades contained within a
series of well-developed shear/fracture zones hosting near-surface
quartz veins. WKG.V is in talks with Kinross Gold Corporation
regarding a milling facility for the bulk sample; Kinross' nearby
Kettle River mill facility is the same facility that processed a
total of 364.6 dry short tons from the same deposit of mineralized
quartz vein material averaging 16.28 g/T Gold back in 2010; we
anticipate we'll be seeing high-grade material, comparable to what
was yielded in past bulk samples, again being processed at Kinross'
Kettle River mill facility before the end of Q3-2016, and we expect
WKG.V to have some spectacular new releases over the coming months. More importantly, we see the
big-picture unfolding quickly as the development cuts a 10 by 12
foot drift through a series of high-grade veins and stockwork
(running in between), affirming in the process the findings of a
BCGS report that indicates the property has potential for large
copper-gold porphyry, similar in nature as to what has been demonstrated at nearby Highland Valley Mine
(Teck) and New Afton Mine (New Gold).
WestKam Gold Corp. has
~183.9 million shares
outstanding. The Company is fully financed
(over subscribed in its last financing) to
accomplish all near-term objectives, and
shares of WKG.V are poised for upside
revaluation as the inherent value and accomplishments are
appreciated by the market.
Figure 1. (below) Key veins discovered
to date, inset of underground workings and drill core sample
Work on the property first commenced in 1985
following the discovery of high-grade gold in quartz at surface. 127
diamond drill holes in the 'Discovery Zone' alone, totaling 7,436.6
m, have encountered multiple high-grade drill intersections for gold
(e.g. 113.70 g/t over 0.87 m, 142.97 g/T over 1.2 m, 321.22 g/T over
0.56 m, 115.51 g/t over 1.07 m), revealing a series of gold-laden near-surface quartz veins. The
high-grade vein zones average two-to-three
meters in thickness and appear to be located 12 to 15 meters apart
within a larger regional structure. Exploration to date indicates
the zones are open to expansion in all directions, and a much larger
target zone, located east of the original Discovery Zone, was
identified in the 2015 drill program.
#1) Averaged 26.5 g/T Gold -- In 1994
the Discovery Zone was open pit mined on the Grey Jay/Crow Vein
system. A total of 3,700 metric tons of mineralized quartz vein
material was shipped to the Cominco Smelter in Trail BC, yielding
~98kg (3,160 oz Au) of gold. The bulk sample was halted as they were
deep in the pit and needed to go underground. The shipped ore to the
smelter graded 26.5 g/T Au.
Mining MarketWatch Journal notes very encouraging
observation from past operator at the time of the first bulk
sampling in 1994; the material which
appeared waste at first, as visibly not part of the main vein, when
tested was running ~7 g/T gold (historic, predates NI43-101) for the
~100 m section they needed to chew through to get to the high-grade
vein. That material was left behind and only the higher-grading
hot-spot vein material was transported (thus the 26.5 g/T Gold
average yield), however this observation makes the next bulk sample,
setting-up for this 2016, extremely exciting as it is these large
swaths of stockwork material running full of stringers found in
between the main quartz veins that will determine what may become
the next big mine in B.C.
#2) Averaged 16.28 g/T Gold -- In 2010 a
second bulk sample shipment from the Grey Jay / Crow vein system was
trucked to the Kinross Mill located in Washington State for
processing. A total of 364.6 dry short tons of mineralized quartz
vein material averaging 0.475 oz/ton Au were processed yielding
161.95 troy ounces of gold at a recovery rate of 93.51%.
Entrance to portal box cut and ramp road ready to go for
The current 10,000t Bulk Sampling
WKG.V has a green light to go and
unfold the story without diluting the share structure.
This Q2-2016, WestKam received an underground Bulk Sample Permit
from the BC Ministry of Energy and Mines, allowing for the
extraction of 10,000 tonnes of ore from the Bonaparte Project. The
permitted design of the Bulk Sample program includes extension of
the existing decline approximately 245m through to the Grey Jay /
Crow vein system.
WKG.V already has the portal collared and is
underground ~100 m, running at ~15% decline, and from that 100 m
point WKG.V will be drifting another ~245 m of development,
cross-sectioning all the veins on the property, going through the
ore body and seeing how the whole picture looks, and transporting
high-grade vein material to the mill. As these are the same veins,
there is no reason not to expect grades similar in nature to what
was encountered on the first two bulk samples, and we expect WKG.V
to come out well ahead financially once completed (the 1994 bulk
sample yielded over 3,000 oz gold and was only 3,700 tonnes, this
bulk sample should be 10,000 tonnes). There is at least one known
blow-out/jewelry box section in the Crow/Grey Jay vein that WKG.V
will exploit along the way, and all the other veins have never been
mined. By placing vent raises (ventilation shafts to surface)
through high-grade vein structures and areas full of stringers, like
the Nutcracker vein, the Company will maximize yield.
As exciting are the riches of this bulk sample,
the more important and lucrative prospect for shareholders will be
the development the bulk sample provides and story that unfolds that
can shed light on the bigger picture and prove up the prospect of
this becoming the next big mine in BC, attracting major area
stakeholders/potential suitors and popping the share price. The bulk
sample should pay for the development and leave several millions of extra
dollars in the Company's treasury to take
the project to another level.
The Company is aggressively moving forward;
Figure 3. (above) - Two
boom jumbo procured to make quick work of
Figure 4. (above) -
Figure 5. (above) -
The property is ready, and
the Company has received clearance from the
British Columbia Ministry of Energy and Mines to
proceed. Road and ramps are built, containment for
fuel is up to code, upgraded bunkhouse is in
place, entrance to portal cleaned up, dewatering
is complete, security is upgraded, equipment is
in place, and the engineer report has been done. WKG.V should be
advancing the decline underground for the
beginning of this August, and is currently in
talks with Kinross Gold Corporation regarding a
milling facility for processing material.
Discovery Zone Cu-Au
Porphyry Target Extended
- The known 'Discovery Zone' area appears to be
only the tip of the iceberg. IP, magnetic, and geochemical surveys
have revealed a cornucopia of attractive drill targets and affirm
the findings of a BCGS report that indicates the property has
potential for large copper-gold porphyry.
Figure 6. (above) - Annotated map showing
select IP and magnetic geophysical survey anomalies.
Volterra 3D IP and ground magnetic surveys have substantially
extended the strike length of the high-grade Discovery gold zone
trend. The extent of the zone's chargeability and resistivity
anomalies has now been traced 1.2 kms from the Discovery Zone to the
south-southeast, and the zone remains open. Several parallel
features of similar chargeability and resistivity signatures have
also been identified. Additionally, southwest of the Discovery Zone
is a large magnetic anomaly comprised of extreme highs and lows with
coincident IP chargeability responses under a younger basalt cap.
These results suggested potential for a multi-phase intrusive.
The New 'Cooler Creek' Zone
Figure 7. (above) - Annotated map showing
select magnetic geophysical survey anomalies superimposed on an
outline of the geochemical trend. The Cooler Creek Canyon has an
area of resistivity and chargeability anomalies and also contains
part of the 2km long Cu-Au-Mo geochemical trend
A seven-hole, 583.22 metre, drill program
carried out in the fall of 2015, discovered a new vein ~450 metres
east of the Crow/Grey Jay/Owl veins of the Discovery Zone. This new
vein discovery at 'Cooler Creek' from DDH-15-05 (see November 16, 2015 News Release "Assaying
0.253 oz/t Gold, 38.4 g/t Silver, 0.33% Copper and 28.6 g/t
Tellurium, over 1.0 meter") lies
within an anomalous IP resistivity, chargeability and Au/Cu
geochemical trend which extends 1.2 kms to the south-southeast and
is open both northward and southward. WKG.V has plans to drill and
expand upon this new discovery vein.
WKG.V shareholders are in for an exciting
second half of 2016 as the development from the 10,000t bulk
sampling of the Discovery Zone is likely to bring insight and
discovery that has the potential to catapult the Company's share
price. Below is expanded
insight on WestKam Gold Corp.'s Bonaparte Gold-Copper Property.
Content found herein is not investment advice
salient Company news releases
2, 2016 "WestKam
Submits Bulk Sample Material to Kinross"
June 28, 2016 "WestKam
to Begin Bulk Sample Program at Bonaparte"
June 13, 2016 "WestKam
Prepares for Bulk Sampling Program at Bonaparte Gold
May 16, 2016 "WestKam
Announces Final Tranche ($232,870) Closing of
29, 2016 "WestKam
Announces 1st Tranche ($1,741,425) Closing of
27, 2016 "WestKam
Announces Private Placement to Existing Shareholders
and Other Investors"
20, 2016 "WestKam
Receives Bulk Sample Permit for Bonaparte Project"
Location, Region, and Infrastructure
WestKam's Bonaparte Gold Project is located in a stable mining-friendly
jurisdiction, and has good infrastructure.
Figure 8. (above) Location
Mining-friendly province of British Columbia, Canada:
British Columbia, Canada is
a stable, mining friendly region and is ranked
as a top-tier jurisdiction by the Fraser
The Bonaparte Gold-Copper
Project is less than an hours drive (~50 km)
northwest of Kamloops in south central British
Columbia. Kamloops is only ~3 hours (310 km)
from Greater Vancouver. Kamloops, with a
mining-friendly population nearing 90,000
people, has a thriving industrial base.
The property itself has
excellent road access (paved roads from Kamloops
for most of the way, then well-maintained gravel
roads to the property), ample water. Power lines
Bonaparte Gold Property
- 2,216 Hectares (5,507 Acres), 100% owned by WKG.V
Figure 9 (above) Bonaparte claims -
The property is largely unexplored. What has been discovered to date is
starting out similar to how all mines of significance in BC had once
click to access April 2009 NI 43-101 Technical Report
on WKG.V's Bonaparte Gold Project [PDF].
Bonaparte Property History
1990s 3,425-ton bulk
sample from one of over 13 identified vein systems
averaged 26g Au/ton (0.75 oz/ton).
2009 WestKam Gold
Corp. (WKG) acquires option to earn 60% interest.
2010 Small bulk sample
collected from underground workings on Crow vein.
Ore shipped to Kinross Mill in Republic, Washington.
Recovered gold sold for $145,783 (364.61 tons @
0.475 oz/ton, 93% recovery
2010 #20 Vein plus
three new veins encountered in decline; WKG
exercises option to earn 75%.
2013 BCGS report on
porphyry potential, successful IP geophysics.
2013 WKG acquires
additional 17% , brings Bonaparte ownership to 92%.
advances 2013 discoveries; WKG purchases 100%.
2015 Fall diamond
drilling follows up on 2014 results. New vein
discovered, opening up large target area called
Cooler Creek Zone.
2016 Permits received
for next bulk sample; dewatering completed in June.
Diamond drilling beneath the
bulk sample pits produced several historic high-grade intersections
*Calculated as: 1 gram/tonne
= 34.28 troy ounces/short ton
Additional information from
drilling indicates a minimum 200 meter extension in
width to the regional structure. More veins expected
to lie within the extension.
bulk-tonnage, porphyry copper-gold potential
Geological services firm Coast Mountain Geological
Ltd. have completed aggregation and assessment of information
accumulated to date the Bonaparte Gold Project. Based on their work,
development strategy examined both high-grade gold in quartz vein
networks and porphyry copper-gold potential (as has been inferred by
recent study from the British Columbia Geological Survey)...
The British Columbia Geological Survey also
independently parallels the interpretation
regarding big porphyry copper-gold potential
based off their own research:
The Bonaparte Copper-Gold
Project was investigated by BC government
geologists Jim Logan and Mitch Mihalynuk in
'Bonaparte Gold: another
195 Ma porphyry Au-Cu deposit in southern
It is likely that the
portion (of the Bonaparte Gold Project) explored
to date is only a small part of a much larger,
more extensive mineralizing system that requires
detailed exploration to define. In addition to
the shear/fracture hosted mineralization,
potential exists for large bulk tonnage,
porphyry copper-gold mineralization.
Shaun M. Dykes M.Sc (Eng), P. Geo
(Previous researcher on Bonaparte Property)
Technical Report on the Bonaparte Gold Property
April 30, 2009
Results Summary Diagram
Note: This area being
focused on now by WKG.V represents only a fraction of the property --
this area alone has big gold-copper porphyry mine potential written all
over it with potential to rival nearby Highland Valley Mine (Teck) and
New Afton Mine (New Gold).
Figure 10 (above) Summary of survey
------ ------ ------
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Corp.'s Technical Leadership, Management,
The current management team and board of directors has a
well rounded combination of people that each contribute
expertise in disciplines necessary for a successful
Matt Wayrynen, P.Eng, President & CEO
Former director of Quinto Mining Corporation, which was
acquired by Consolidated Thompson Iron Mines in 2008 for
a share value equal to $175M. Original co-founder and
former President and CEO of TrichoScience Innovations
Inc., which was acquired by Replicel Life Sciences Inc.
Helped advance RepliCel to its current market
capitalization of over $100M. Currently a director and
senior officer of several other reporting issuers in the
resource and energy sectors. Also the former President
and CEO of Bralorne Gold Mines Ltd.
Pam Saulnier, B.Sc., CFO
Ms. Saulnier is a Certified Management Accountant and a
member of Chartered Secretaries Canada, a Canadian
Division of The Institute of Chartered Secretaries and
Administrators (ICSA). She has more than 12 years
experience in the mining and resource and oil and gas
sectors. Ms. Saulnier has served with public companies
in financial reporting, regulatory compliance,
governance and administration of corporate affairs.
Akash Patel, Ph.D., Director
Presently CEO of MX Gold Corp. (MXL).
Significant public accounting experience and over 15
years of investing experience. Bachelor of accounting
from the British Columbia Institute of Technology with a
major in accounting and minor in finance. Also provides
over 12 years of corporate tax experience and has been a
director and officer of several other reporting issuers
in the resource sector.
Lincoln Fuqua, Director
35 years experience in Business & Higher Education
Administration; Research Director; Corporation &
Foundation board of directors service; Natural Resources
exploration & development projects partner & manager
Major financial grants from National Science Foundation,
U.S. Department of Education, Utah Education Network, &
American Independent TV Network. Recognized in Whos Who
in Bus. & Computer Technology; Whos Who in Distance
Learning; & Global Business Leaders.
------ ------ ------
------ ------ ------
Lindsey Gorrill, CFO, Advisor
Chartered Accountant, graduate of Simon Fraser
University with a BBA in Finance and Marketing. Admitted
to the Institute of Chartered Accountants of British
Columbia in August 1989. Following senior positions with
Ernst & Whinney, Peat Marwick Thorne and KPMG, Mr.
Gorrill filled executive roles resource companies in
Canada and the U.S. Currently CEO, CFO, Principal
Accounting Officer and Treasurer of Star Gold Corp. and
has been its President since 2008. Also CEO and
President of Jayhawk Energy, Inc. Also served as CEO,
CFO and President of Canada Fluorspar Inc. Former CFO of
Quinto Mining Corp., where he helped raise millions of
dollars and advanced a Quebec iron ore property to a
viable project. Quinto then sold to Consolidated
Thompson Iron Mines in June 2008 for a share value equal
to $175 million. (Consolidated Thompson was eventually
sold to Cliffs Resources for $4.9B.) .
Chief Executive Officer and President of Deer Horn
Metals Inc. since 2008. Former President and CEO of
Quinto Mining, where with limited resources in a
difficult market he raised more than $30M and advanced a
Quebec iron ore property into a viable project. Quinto
was subsequently sold to Consolidated Thompson Iron
Mines in 2008 for a share value equal to $175M (starting
from $4M). Consolidated Thompson was eventually sold to
Cliffs Resources for $4.9B. Mr. Docherty also serves on
the Boards of several resource companies including
JayHawk Energy Inc. as well as Quinto Mining Corp.
(prior to its sale). Involved in the financial markets
for over 20 years and attributes his success to
relationship-building, trust and honesty.
Tony Fogarassy, M.Sc, LL.Mc
Natural resources lawyer and principal for Dunbar Law
Corporation. Graduated as the gold medalist in
geological sciences and obtained his masters degree at
the University of British Columbia. Obtained law degrees
from UBC and the London School of Economics. Tony's
legal experience includes mining, environmental and
aboriginal law. He has worked as a geologist or lawyer
on projects in Canada, USA, Kazakhstan, Angola and the
Bob Lane, M.Sc., P. Geo, Consultant/Advisor &
Registered professional geologist with a Master's degree
in geology and more than 20 years of practical field
geology as a research geologist with the BC Geological
Survey, as the Regional Geologist with the Ministry of
Energy & Mines (Northeast-Central Region of BC), and as
a consulting geologist. Currently the principal of
Plateau Minerals Corp, a geological consulting company
based in Prince George, and a Qualified Person under NI
Note: This list is not intended to be a complete overview of
WestKam Gold Corp. or a complete listing of WestKam's
projects. Mining MarketWatch urges the reader to contact the subject
company and has identified the following sources for information:
For more information
contact WestKam Gold Corp.'s head office at:
Company's web site:
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