VANCOUVER, BC, June 4, 2020 /CNW/ - Western Copper and Gold
Corporation ("Western" or the "Company") (TSX: WRN) (NYSE: WRN)
announces its 2020 exploration program at its wholly owned Casino
Copper-Gold Project ("Casino").
CASINO DRILL CAMPAIGN
The 2020 drill program will test the High Gold Zone, Northern
Porphyry and Canadian Creek Targets identified by last year's
program. Drilling will be performed by three diamond drill
rigs, and will initially consist of 43 holes between 150 metres
("m") and 500 m in depth. It is
expected that drilling will commence mid-June and be completed by
the end of the third quarter.
High Gold Zone
The High Gold Zone was recognized last year during the infill
drill program when a number of greater than 2 grams per tonne
("g/t") gold intercepts were found including hole DH19-21 that
returned 55.1 g/t gold over 2.97 m at
a depth of 147.98 m (see news release
dated September 24, 2019). Additional
intercepts include hole DH19-10 that returned 4.78 g/t gold over
1.0 m at a depth of 174.0 m and hole DH19-13 that returned 3.55 g/t
gold over 2.0 m at a depth of
129.0 m.
The high-grade gold mineralization occurs in narrow near
vertical structures estimated to be 2 to 5
m wide that cut the older copper porphyry mineralization.
The structures are associated with minor amounts of a
lead-copper-bismuth sulphide, galena, silver telluride and
pyrite. These structures trend east – westerly and generally
occur on the south side of the deposit over a distance of more than
2 km. The drilling is designed to confirm the controls, general
continuity and variability of grade in the gold bearing structures.
A total of 19 holes will test a 2.0 km length of the gold
structures at 10 locations with two "scissor" holes in most
cases.
Northern Porphyry
The Northern Porphyry is associated with a satellite intrusive
and breccia complex located near the main Casino intrusion and
represents a new deposit on the north side of the main Casino
deposit. At surface, the Northern Porphyry appears to be at a
higher erosional level in porphyry system than the main Casino
deposit and suggests potential for improving copper and gold grades
at depth. The proposed drill program will test the dimensions of
the Northern Porphyry at 200 m
centres with 12 holes to establish its dimensions and to drill a
single deep hole to assess the potential for improving copper and
gold grades at depth.
Canadian Creek Targets
The Canadian Creek drilling will test two primary targets on
ground acquired in 2019 referred to as the Casino West extension
and the Ana Target.
The Casino West target is an 800 by 500
m area immediately west of the Casino deposit. The four
closest historical holes east of the target have leach capping or
incipient leaching, weak enrichment and hypogene
copper-gold-molybdenum mineralization typical of what is expected
at the outer edges of a porphyry copper-gold-molybdenum
deposit. A total of 8 holes are proposed to test the area
between the Casino deposit and the closest historical holes to the
west.
At the Ana Target, three holes will test for porphyry
copper-gold mineralization near surface and at depth. Past
exploration shows an untested IP chargeability and copper-in-soil
anomaly surrounded by historical holes with moderate to strong
propylitic to potassic alteration associated with low levels of
copper, gold and molybdenum. Associated with this peripheral
alteration are small bodies of intrusion breccia and Patton
Porphyry, both closely associated with mineralization at the Casino
deposit. Many of the logs of the historical drill holes mention
late pyrite veining in fault and shear zones.
COVID-19 Policy
The health and safety of our employees, contractors, visitors
and the communities in which we operate are paramount. To that end,
we have implemented a COVID-19 policy to reduce the spread of
COVID-19 at our exploration camp, and in the Yukon. We will continue to follow the guidance
issued by the Federal and Territorial governments for the operation
of remote camps and mining operations. All of our policies can be
found on our website, at
https://casinomining.com/about-us/casino-site-policies/.
Paul West-Sells, President and
CEO, stated, "Following the success of our 2019 exploration
program, and the acquisition of the Canadian Creek property
adjacent to Casino, we are excited to begin drilling
again. Further delineation of the High Gold Zone, the key
component of the drilling campaign, has the potential to
significantly change the project, and further delineation of the
Northern Porphyry and Canadian Creek should further establish the
district potential of this land package."
Technical information in this news release has been reviewed and
approved by Jack McClintock, P.Geo,
and a 'Qualified Person' as defined under Canadian National
Instrument 43-101.
ABOUT WESTERN COPPER AND GOLD CORPORATION
Western Copper and Gold Corporation is developing the Casino
Project, Canada's premier
copper-gold mine in the Yukon
Territory and one of the most economic greenfield
copper-gold mining projects in the world. For more information,
visit www.westerncopperandgold.com.
On behalf of the board,
"Paul West-Sells"
Dr. Paul
West-Sells
President and CEO
Western Copper and Gold Corporation
Cautionary Disclaimer Regarding Forward-Looking Statements
and Information
This news release contains certain forward-looking statements
concerning anticipated developments in Western's operations in
future periods. Statements that are not historical fact are
"forward-looking statements" as that term is defined in
the United States Private
Securities Litigation Reform Act of 1995 and "forward looking
information" as that term is defined in National Instrument 51-102
("NI 51-102") of the Canadian Securities Administrators
(collectively, "forward-looking statements"). Forward-looking
statements are frequently, but not always, identified by words such
as "expects", "anticipates", "believes", "intends", "estimates",
"potential", "possible" and similar expressions, or statements that
events, conditions or results "will", "may", "could" or "should"
occur or be achieved. These forward-looking statements may include,
but are not limited to, statements regarding perceived merit of
properties; mineral reserve and resource estimates; capital
expenditures; feasibility study results (including projected
economic returns, operating costs, and capital costs in connection
with the Casino Project); exploration results at the Company's
property; budgets; permitting or other timelines; economic benefits
from the mine and/or the access road; strategic plans; market price
of precious and base metals; or other statements that are not
statement of fact. In making the forward-looking statements herein,
the Company has applied certain material assumptions including, but
not limited to, the assumptions that the circumstances surrounding
the COVID-19 pandemic, although evolving, will stabilize or at
least not worsen; that the extent to which COVID-19 may impact the
Company, including without limitation disruptions to the mobility
of Company personnel, increased labour and transportation costs,
and other related impacts, will not change in a materially adverse
manner; that all regulatory approvals required to complete the
Company's planned exploration and development activities will be
received in a timely manner and on acceptable terms; that the
Company is able to procure personnel, equipment and supplies
required for its exploration and development activities in
sufficient quantities and on a timely basis; and that general
business conditions will not change in a materially adverse
manner.
Forward-looking statements are statements about the future
and are inherently uncertain, and actual results, performance or
achievements of Western and its subsidiaries may differ materially
from any future results, performance or achievements expressed or
implied by the forward-looking statements due to a variety of
risks, uncertainties and other factors. Such risks and other
factors include, among others, risks involved in fluctuations in
gold, copper and other commodity prices and currency exchange
rates; COVID-19 risks to employee health and safety and a slowdown
or temporary suspension of operations in geographic locations
impacted by an outbreak; uncertainties related to raising
sufficient financing in a timely manner and on acceptable terms;
and other risks and uncertainties disclosed in Western's AIF and
Form 40-F, and other information released by Western and filed with
the applicable regulatory agencies.
Western's
forward-looking statements are based on the beliefs, expectations
and opinions of management on the date the statements are made, and
Western does not assume, and expressly disclaims, any intention or
obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise,
except as otherwise required by applicable securities legislation.
For the reasons set forth above, investors should not place undue
reliance on forward-looking statements.
SOURCE Western Copper and Gold Corporation