Wescan drilling in Beardmore-Geraldton gold beltadmin
Wescan Goldfields Inc. announce that diamond drilling has commenced on the Wescan – Alto Ventures Ltd. Mud Lake Joint Venture. Ten to twelve core holes will be drilled to test gold mineralization along the six kilometre Mud Lake Shear Zone, a region where gold occurs on surface and in drill intercepts that assay up to 13.9 grams per tonne (“g/t”) gold across 1.0 metres (“m”). The high grade gold occurs within a wider zone of mineralization averaging 3.39 g/t gold across 6.1 m. This program is part of a longer term strategy to evaluate each of the gold targets with diamond drilling. Significant gold intercepts are highlighted on the Alto’s website at www.altoventures.com.
The Mud Lake Project is operated under the terms of the Mud Lake Option Agreement which grants Wescan the right to earn 50% interest in the property by funding $600,000 in exploration and issuing a total of 150,000 Wescan shares to Alto over two years. Upon completion of this program, Wescan will have satisfied the expenditure commitments to earn its interest in the project.
The Mud Lake Property lies 25 km northeast of Beardmore and shares a common boundary with the Hercules Property located to the north of Mud Lake and where Kodiak Exploration Limited reported the discovery of significant gold mineralization.
Wescan is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of Wescan trade on the TSX Venture Exchange under the trading symbol “WGF”.