Business
Wescan drilling in Beardmore-Geraldton gold belt
Stock Symbol: WGF: TSX-V SASKATOON, Oct. 16 /CNW/ - Wescan Goldfields Inc. (WGF: TSX-V) ("Wescan"...
About this update from Wescan Goldfields Inc.
[{"type":"text","content":"\n\n\n\nStock Symbol: WGF: TSX-V\n\n\nSASKATOON, Oct. 16 /CNW/ - Wescan Goldfields Inc. (WGF: TSX-V) ("Wescan")\nis pleased to announce that diamond drilling has commenced on the Wescan -\nAlto Ventures Ltd. (ATV: TSX-V) ("Alto") Mud Lake Joint Venture. Ten to twelve\ncore holes will be drilled to test gold mineralization along the six kilometre\nMud Lake Shear Zone, a region where gold occurs on surface and in drill\nintercepts that assay up to 13.9 grams per tonne ("g/t") gold across 1.0\nmetres ("m"). The high grade gold occurs within a wider zone of mineralization\naveraging 3.39 g/t gold across 6.1 m. This program is part of a longer term\nstrategy to evaluate each of the gold targets with diamond drilling.\nSignificant gold intercepts are highlighted on the Alto's website at\nwww.altoventures.com.\n\n\nThe Mud Lake Project is operated under the terms of the Mud Lake Option\nAgreement which grants Wescan the right to earn 50% interest in the property\nby funding $600,000 in exploration and issuing a total of 150,000 Wescan\nshares to Alto over two years. Upon completion of this program, Wescan will\nhave satisfied the expenditure commitments to earn its interest in the\nproject.\n\n\nThe Mud Lake Property lies 25 km northeast of Beardmore and shares a\ncommon boundary with the Hercules Property located to the north of Mud Lake\nand where Kodiak Exploration Limited reported the discovery of significant\ngold mineralization.\n\n\nMike Koziol, P. Geo., P.Eng. and Alto's President and Director is the\nQualified Person who has reviewed and approved this news release.\n\n\nWescan is a Canadian based corporation engaged in the acquisition,\nexploration and development of mineral properties. Shares of Wescan trade on\nthe TSX Venture Exchange under the trading symbol "WGF".\n\n\n"The TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this release."\n\n\nCaution Regarding Forward-Looking Statements\n\n\nFrom time to time, Wescan makes written or oral forward-looking\nstatements within the meaning of certain securities laws, including the "safe\nharbor" provisions of Canadian securities legislation. Wescan may make such\nstatements in this press release, in other filings with Canadian securities\nregulators in ...