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SERVICES OR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, June 16, 2021 /CNW/ - Western Atlas Resources
Inc. ("Western Atlas" or the "Company") (TSXV: WA),
is pleased to provide an update on the Company's 2021
exploration program at its Meadowbank Project located in
Nunavut, Canada. The upcoming
exploration program is the continuation of the winter logging and
sampling conducted between January and April
2021 and will comprise of additional structural and
geological mapping (scale ranging from 1:5,000 to 1:2,000 over
selected targets) and sampling within Meadowbank Blocks A and
B.
Additional review and integrated interpretation of the
exploration data conducted during the first quarter of 2021
identified an additional target within Block B, namely Target B4
(see Figure 1 and 2), for follow up with additional mapping,
tighter sampling and potential drilling.
Mapping in the central portion of Block B will focus on volcanic
rocks in order to determine the potential stratigraphic
relationship with the intermediate volcanics of the Meadowbank
deposit area. Structural data obtained during the exploration
program will be also used to estimate the thickness of the Amarulik
formation sediments which cover volcanics in the larger part of the
Block B and that is potentially overlying the intermediate volcanic
host rocks of the Meadowbank deposit in this area.
The Western Atlas' Meadowbank Project covers over 58,000
hectares (580 square km) and lies adjacent to, and along trend of
Agnico Eagle's Meadowbank and Amaruq producing gold mines.
The Western Atlas team has received clearance from the Chief
Public Health Officer of Nunavut
("CPHO") and is currently completing a 14 days isolation following
which it will be allowed to enter Baker
Lake, Nunavut and start the summer exploration program. The
exploration program is expected to last until mid to end of
October 2021.
Target B4
Target B4 magnetic signatures highlight structures of interest
that warrant reconnaissance follow-up in the northern sector.
The northern sector is characterized by a long-wavelength
structure that, from the interpreted dips of its flanks (thin BIF)
has been interpreted as an antiform. The limbs are at an angle
lower than usual for this corridor and the fold vergence appears to
be to the NNW.
The intersections of the NE-trending magnetic discontinuities
(which coincide with zones of demagnetization) within the
interpreted BIF will be the focus of tighter sampling.
Figure 1: Block B - Interpretation Map over the Domain
Permissivity Map; the sub-blocks are identified by dashed
polygons
Figure 2: Sub-Block B04 - Interpretation Map over the
Domain Permissivity Map
Exploration Details
Systematic exploration conducted so far has defined numerous
drill targets and has outlined precious and base metals
mineralization. Several of these targets have yielded gold values
from surface sampling of up to 13.30 g/t Au and up to 44.7 g/t Ag.
The 2020 drill program intersected 4.30
m grading 1 g/t Gold and also broad near surface
polymetallic mineralization of up to 113.50
m averaging 0.12% Nickel, 0.009% Cobalt, 0.12% Chromium from
a depth of 62 m (see figure 3 and
press releases issued on April 19 and
May 5, 2021).
Western Atlas' Meadowbank past exploration included:
- Detailed field mapping and sampling program
- Over 3,800 km of airborne magnetic surveying
- Over 1,500 line-km of helicopter-borne VTEM followed by
electromagnetic (EM) anomaly picking and airborne inductively
induced polarization (AIIP) processing report
- Over 32 line-km of ground IP surveying over specific targets
located in Block B
- Over 3500 meters of diamond drilling within Block B Target B1
(2020)
The geological and structural framework as it relates to gold
mineralization in the area is well understood and is generally
associated with Banded Iron Formation (BIF) and Shear Zones.
Western Atlas exploration programs have identified these geological
features with a strike length in the order of kilometers within its
targets.
While geological settings like BIF and shear zones are favorable
for the development of orogenic gold deposits in the area, the
Company's 2020 drill program has also intersected broad, near
surface nickel, cobalt, chromium mineralization, in addition to
anomalous values for gold and silver, thus providing for new
potential for near surface broad polymetallic mineralization
on the property.
Similar geological settings can be found at Agnico Eagle's
neighboring Meadowbank and Amaruq producing gold mines and
Greyhound project.
Figure 3: Block B, Target B1, Drill Holes and Ultramafic
Corridor
Paul Chamois, P.Geo, is the Qualified Person as defined by
National Instrument 43-101 and is responsible for reviewing and
supervising the preparation of the scientific and technical
disclosure in this news release.
About Western Atlas
The Company's common shares are listed on the TSX Venture
Exchange under the symbol WA. Western Atlas is focused on the
acquisition and development of scalable precious metals projects in
premier mining jurisdictions. Western Atlas's wholly owned
subsidiary, 5530 Nunavut Inc., holds its interests in the
Meadowbank project located in Nunavut,
Canada.
Cautionary Statement Regarding Forward-Looking
Information
This news release includes certain "forward-looking statements"
under applicable Canadian securities legislation that are not
historical facts. Forward-looking statements involve risks,
uncertainties, and other factors that could cause actual results,
performance, prospects, and opportunities to differ materially from
those expressed or implied by such forward-looking statements.
Forward-looking statements in this news release include, but are
not limited to, statements with respect to the Company's
objectives, goals or future plans; the receipt of the requisite
approvals with respect to the business and operations of the
Company. Forward-looking statements are necessarily based on a
number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties
and other factors which may cause actual results and future events
to differ materially from those expressed or implied by such
forward-looking statements. Such factors include, but are not
limited to: general business, economic and social uncertainties;
litigation, legislative, environmental and other judicial,
regulatory, political and competitive developments; delay or
failure to receive board, shareholder or regulatory approvals;
those additional risks set out in Western Atlas's public documents
filed on SEDAR at www.sedar.com; and other matters discussed in
this news release. Although Western Atlas believes that the
assumptions and factors used in preparing the forward-looking
statements are reasonable, undue reliance should not be placed on
these statements, which only apply as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. Except where required by
law, Western Atlas disclaims any intention or obligation to update
or revise any forward-looking statement, whether as a result of new
information, future events, or otherwise.
Reader Advisory
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Western Atlas Resources