Gold World Resources 2012 exploration program sets path to early cash-flow
July 10 2012 - 7:23AM
PR Newswire (Canada)
TORONTO, July 11, 2012 /CNW/ - Gold World Resources Inc. ("GWR") or
(the "Company") is pleased that it has contracted Norseman
Exploration, Whitehorse to execute part of its intended 2012
exploration program by extracting a series of bulk samples
beginning with a 50t sample from the Mount Anderson Yukon
gold/silver, polymetallic ("Mt. A.") Project which is to confirm
grade and availability for prospective purchasers and to work
towards fulfilling the terms of the Option Agreement signed 2011 to
excavate and process 1,000 t of material; (please see press release
February 28, 2012 regarding drilling). Management has designed the
program to suit current market conditions by taking advantage of
the current strength in gold and silver prices as well as
Management's assessment of how best to explore and develop the
significant high grade vein system of the Mt. A. Project which has
historically been described as containing the largest gold/silver
vein in the district. Historic exploration and the results of the
Company's 2011 exploration program which identified an 8 thousand
meter mineralized zone have confirmed the discovery potential of
this site. Within the zone there is strong evidence of an
exploitable vein system with several access points on surface which
may facilitate the recovery of this resource at a reasonable
cost. The budget for the program is estimated at $250,000
(not including cost of assaying. Final cost will be determined as
end buyer and trucking bids are finalized). In progress: -- 2.2 t
of the 2011 bagged ore from the 47-Zone have been removed. 60
samples of this ore were delivered to ACME labs in Whitehorse for
analyses. -- Prospecting and backhoe excavation of the "Adanac
East" soil anomaly which Dallas W. Davis, Consultant Interim V.P.
Exploration ("Dallas Davis") has targeted based on the fact that it
is the highest gold anomaly found last year. The Company believes
that this could be a major extension of the Adanac zone or the
discovery of significant new mineralization of potential bulk
minable widths. -- Follow up prospecting and hand trenching on line
35 where it crosses the Ridge Zone at which area in the 1980's
significant values of gold and silver (+6 oz/t gold and +15 oz/t
silver) were found in bedrock. -- Hand trenching and portal
reclamation of the upper adit where Noranda historically and in
2011 Dr. Howard Lhati sampled. Both took approximately 2900 g/t
silver samples from the veins. To be carried out immediately to set
the path to early cash-flow: -- Removal of a 50 ton high-grade bulk
sample (one of a series) from the 47-Zone. Material will be sacked,
removed from site and crushed to minus 1/4 inch. Depending on the
results from the gravity separation tests the next step would be to
either produce a concentrate or sell the material as is. Financing
Options for Continued Bulk Sampling: Larger-scale bulk sampling of
the 47-Zone and other gold shoots provides an excellent opportunity
for the Company to generate significant, near-term revenue for
continued exploration and development. Chinese smelters expressed
their interest in purchasing the material. There is the possibility
that buyers would also be interested in financing. About the
Company: The Company is a precious- and base-metals exploration
company focusing on the Mount Anderson Yukon gold/silver,
polymetallic Project. ON BEHALF OF THE BOARD "Hermann Derbuch",
Chairman & CEO Gold World Resources Inc. This Press Release may
contain forward-looking statements (including "forward looking
information" within the meaning of applicable Canadian securities
legislation) related to the Company's activities which involve
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the
Company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking information. The Company has not undertaken any
preliminary feasibility study or preliminary economic assessment
with respect to the Property. Information contained herein
represents management's best judgment as of the date hereof based
on information currently available. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, save and except as may be required by applicable
securities laws. The forward-looking statements contained
herein are expressly qualified by this disclaimer. Neither the TSX
Venture Exchange nor its Regulation Service Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this press release.
Gold World Resources Inc. CONTACT: Hermann Derbuch, P.Eng.Tel.:
416.594.9888 Fax: 416.594.1967
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