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Western Alaska Minerals Files NI 43-101 Technical Report for the High-Grade Waterpump Creek Silver-Lead-Zinc Initial Resource, Illinois Creek Project
TUCSON, AZ / ACCESSWIRE / April 2, 2024 / Western Alaska Minerals (the " Company " or " WAM ...
About this update from Alaska Silver Corp
[{"type":"text","content":"Western Alaska Minerals Files NI 43-101 Technical Report for the High-Grade Waterpump Creek Silver-Lead-Zinc Initial Resource, Illinois Creek ProjectTUCSON, AZ / ACCESSWIRE / April 2, 2024 / Western Alaska Minerals (the \" Company \" or \" WAM \") (TSXV:WAM) is pleased to announce the publication and filing of its updated NI 43-101 report (the \"Technical Report\") in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (\"NI 43-101\") on the Illinois Creek (\"IC\") Project, Alaska, USA. The Technical Report, titled \"Illinois Creek Project Update, Illinois Creek Mining District, Western Alaska, USA\" dated April 2, 2024 (effective date of February 20, 2024) has been prepared by Bruce Davis, PhD, FAusIMM, Jack DiMarchi, CPG, Principal Geologist, and Deepak Malhotra, PhD, SME-RM, and is available on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile.\"The updated NI 43-101 report confirms the outstanding high-grade silver-lead-zinc initial resource at Waterpump Creek, a distal zone of the Illinois Creek carbonate replacement deposit (\"CRD\"). Our attention now turns to validating the substantial scale potential of the CRD through advanced modeling on the LH and Warm Springs targets ,\" stated Kit Marrs, President and CEO of WAM.Revised Initial Inferred Mineral Resource Estimate at the WPC ZoneThe Technical Report provides an updated and revised mineral resource estimate for the Waterpump Creek (\"WPC\") zone from the initially reported estimate in the February 22, 2024 News Release , which was tabulated using the incorrect silver equivalent formula used to determine cut-off. Table 1 below shows the revised mineral resource for the WPC zone. Changes to the mineral resource statement are not considered material at the mineral resource estimate cut-off grade of 200 g/t, equaling < 0.5% change to tonnes and grade. Table 2 below shows the sensitivity of the mineral resource to the cut-off grade, which is only materially different from the estimate in the February 22, 2024 news release at cut off grades of 800 g/t and higher.Table 1. Waterpump mineral resource estimate grades at an AgEqR grade of 200 g/t.TonnesAg (g/t)Pb (%)Zn (%)AgEq (g/t)ZnEq (%)Ag (Moz)AgEq (Moz)Pb (Mlb)Zn (Mlb)ZnEq (Mlb)2,380,0002799.8711.2898026.421.474.95175911,383Table 2. Waterpump mineral resources grade sensit...