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Walker River Resources Corp
Symbol C : WRR
Shares Issued 53,102,914
Close 2016-02-02 C$ 0.05
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Walker River drills 1.5 m of 292 g/t Au at Lapon Canyon

2016-02-02 10:38 ET - News Release

Mr. Michel David reports

WALKER ANNOUNCES INITIAL DRILL RESULTS FROM LAPON CANYON

Walker River Resources Corp. has released initial results from the first two reverse circulation drill holes on the Lapon Canyon gold project, located approximately 60 kilometres southeast of Yerington, Nev.

The Lapon project consists of 36 claims (720 acres) situated in the Wassuk range, easily accessible by secondary state roads from the main highway (25 kilometres). A state grid power transmission line passes within three kilometres of the property.

The Lapon project is located within the Walker Lane shear zone, a 100-kilometre-wide structural corridor extending in a southeast direction from Reno, Nev. Within this trend, numerous gold, silver and copper mines are located, notably the historic Comstock lode mines in Virginia City, the past-producing Esmeralda/Aurora gold mine, with reported production of about one million ounces, as well as the Anaconda open-pit copper mine in Yerington. Nevada Copper's new mine, Pumpkin Hollow, is also located within the Wasuk range about 25 kilometres north of Lapon.

The Lapon project is cut by a series of steeply dipping cross-fault structures cutting across the Walker trend, analogous to other cross-fault structures responsible for many gold and base metal deposits in the world. These faults are heavily sheared and altered (sericite, iron oxides) with abundant silica. They vary in width from 60 to 300 metres. Four of these structures have been discovered at Lapon, and at least two can be traced for over four kilometres. Gold mineralization is located within en echelon structures within these faults. At least one of these shear zones, the Lapon Rose zone, was the site of underground development, and shows a minimum strike length of four kilometres, has a width of over 60 metres and has a vertical extent of at least 650 metres.

The first two RC drill holes were designed to test the upper portion of the Lapon Rose zone. Key highlights of these initial results include:

  • RC drill hole LC 15-01 intersected 1.5 m of 292 grams per tonne gold at a depth of 18.3 m to 19.3 m;
  • RC hole LC 15-02 intersected 1.5 m of 66.8 g/t Au at a depth of 30.5 m to 32 m, including 1.5 m of 43.7 g/t Au at a depth of 50.3 m to 51.8 m.


Drill hole         From        To        Length**      Assay*
                    (m)       (m)           (m)     (g/t Au)

LC 15-01            7.6      19.8          12.2         8.41
Including          18.3      19.3           1.5        292.0*
LC 15-02           30.5      53.4          22.9         7.84
Including          30.5        32           1.5         66.8*
Including          50.3      51.8           1.5         43.7*

*Grades cut to 34.28 g/t Au (one ounce/ton).
**True widths approximately 65 per cent in LC 15-01 and 70 
per cent in LC 15-02.

Drill-hole LC 15-01 was directed to the west to test the western fault contact of the shear zone some 175 metres west of the old workings. Drill hole LC 15-02 was directed to the east to test the eastern contact of the shear zone and was located some 150 metres from drill hole LC15 01.

The 2015 exploration program began in April and since that date significant exploration progress has been made. Within the upper Lapon Rose zone, gold mineralization in the form of visible gold has been noted in two different locations within the upper adit.

The initial drill results confirm the potential for the emplacement of significant gold mineralization on the project. Additional results from the initial 2015 drill program will be released as they become available.

Walker along with its partner Nevada Canyon Gold Corp. (see news release dated Sept. 16, 2015) intend to pursue an aggressive drill program on this well-located, highly prospective gold project. About 6,000 metres of planned drilling has been outlined, with the initial drilling (760 metres) completed in December, 2015.

Small-scale high-grade mining began on the project in 1914. Approximately 600 metres of drifts and raises were developed from two adits and a two-stamp mill was built. Further limited underground work was carried out, returning numerous assay values in the range of one ounce per ton, with a sample at the end of an adit returning 20.6 ounces per ton (National Instrument 43-101, Montgomery and Barr, 2004).

Sampling methodology, chain of custody, quality control and quality assurance

All sampling was conducted under the supervision of the company's project geologists and the chain of custody from the drill to the sample preparation facility was continuously monitored. A blank or certified reference material was inserted approximately every 10th sample. The Lapon samples were delivered to ALS Minerals certified laboratory facility in Reno, Nev. The samples were crushed, pulverized and the sample pulps digested and analyzed for gold using fire assay fusion and a 50-gram gravimetric finish. Higher-grade samples used a one-kilogram screen fire assay with screen to 100 microns and 50 g gravimetric finish

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by E. Gauthier, Geol, Eng (OIQ), a qualified person as defined by NI 43-101, standards of disclosure for mineral projects.

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