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Walker River Resources Corp
Symbol WRR
Shares Issued 136,129,866
Close 2019-05-21 C$ 0.20
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Walker River Resources begins drilling at Lapon Canyon

2019-05-21 09:50 ET - News Release

Mr. Michel David reports

WALKER ANNOUNCES START OF DRILL PROGRAM

Walker River Resources Corp. has begun its 2019 initial reverse circulation (RC) exploration drill program at the Lapon Canyon gold project, located approximately 60 kilometres southeast of Yerington, Nev.

The Lapon project consists of 96 claims (1,940 acres) situated in the Wassuk Range, easily accessible by secondary state roads. A state grid power transmission line passes within three kilometres of the project. The company owns 100 per cent of the property, with a 2-per-cent net smelter return royalty payable on 36 of the claims.

Drilling will focus on infill and expansion of the Lapon Rose zone and other exploration targets on the property.

Key highlights:

  • To date, mineralization has been discovered in a broad, altered, fractured and brecciated northeast-trending structural corridor, termed the Lapon Rose zone. Anomalous gold values are denoted in many areas within this zone, and significant, higher-grade mineralization over significant widths is located within subvertical en echelon zones of intense alteration and gold enrichment.
  • In April, 2019, the company received a two-year extension from the U.S. Bureau of Land Management for its notice of intent exploration permit to conduct further drilling on the Lapon Canyon gold project.
  • The discovery of new gold mineralization (RC 17-19 -- 18.6 grams per tonne gold (uncut) over 6.1 metres) located 325 metres away and 200 metres higher than the last known gold mineralization. It is not known at this time if this is an extension of Lapon Rose or an entirely new zone. With the discovery at this location, the vertical extent of gold mineralization now exceeds 400 metres.
  • Previous drilling highlights include (all previously announced) 22.9 metres at 7.84 grams per tonne, 13.7 metres at 48.02 grams per tonne, 12.2 metres at 77.62 grams per tonne and 9.2 metres at 39.17 grams per tonne.

Drilling targets

The 2019 drill program will build off the success of the 2018 drill program, which was successful in expanding known gold-mineralized zones previously discovered by the company, including the discovery and delineation of new gold-mineralized zones. The 2019 drill program will also utilize the technical and geological information on the structural trends acquired in 2018. The construction of new drill pad emplacement and drill access routes is now complete.

Drilling will focus on infill and expansion drilling at the Lapon Rose zone, follow-up drilling and delineation of new gold-mineralized zones, as well as drilling other targets. This includes other fault alteration zones, which, in some instances, show evidence of previous workings.

Michel David, president, states: "We are very excited and encouraged by these and past drill results, which now confirm the potential of the project. The planed drilling will continue to develop our understanding of the gold mineralization zones, which appear to be open in all directions."

The company is also carrying out a detailed geological and mapping survey of the claim group. An initial helicopter-assisted geological mapping reconnaissance has resulted in the discovery of an intensely altered silicified zone, with sulphide mineralization on the front range of the Lapon project. The zone consists of sedimentary rocks and shows evidence of historical workings as well as one adit, located about three kilometres west and 500 metres lower of the present drilling. This zone will be the focus of upcoming work.

Walker's initial geological mapping and prospecting on the project demonstrated the potential for the emplacement of significant gold mineralization. Previous drilling over the last four years (from 2015 to 2018) has confirmed this potential.

About the Lapon project

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, varying 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.

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 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. Additional work on the project in the following years included the installation of a ball mill and milling facilities.

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 National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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