Welcome!

News Feed Item

Westcore Announces Initial Resource Evaluation at Black Diamond Coal Property

SASKATOON, SASKATCHEWAN -- (Marketwire) -- 11/26/12 -- WESTCORE ENERGY LTD. (TSX VENTURE:WTR) ("Westcore" or the "Company") is pleased to announce an initial coal resource evaluation from the first four drill programs at the Black Diamond Coal Property ("Black Diamond") located near The Pas, Manitoba. Black Diamond is jointly held by Westcore and Goldsource Mines Inc., 75:25 respectively.

The Black Diamond Coal Property resource evaluation (or the "Evaluation") was completed by Heartstone Consulting Ltd. and was prepared in accordance with Canadian Securities Administrators (CSA) National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The lead author of the Evaluation is Peter Graham, P.Geo., who is a "qualified person" within the meaning of NI 43-101 and is independent of the Company. Mrs. Ellen MacNeill, P. Geo., is a co-author of the Evaluation. The Evaluation has been filed on SEDAR and is also available for download on the Company's website.

The Evaluation contemplates coal resources at the Discovery, Cyclops, Ambit, Athena and Calypso deposits. These resources have been classified according to the "CIM Standards on Mineral Resources and Reserves: Definitions and Guidelines" (November 2010). Accordingly, the resources have been classified as "Measured", "Indicated" and "Inferred".

Highlights:


--  Measured Tonnes: 40,616,000 
--  Indicated Tonnes: 9,428,000 
--  Total Waste Quantities vs. Measured and Indicated Tonnes of Coal Strip
    Ratio of 1.2:1 
--  Inferred Tonnes: 10,607,000 
--  Total Waste Quantities vs. Inferred Strip Ratio of 1.6:1 
--  Coal is ranked as subbituminous C

The foregoing resources are further additions to resources recently reported on the Company's Panther Property (60% owned by Westcore), where the following resources were recently announced in respect of the Company's Quasar Deposit (for further details, please refer to the Company's news release dated October 29, 2012 and the corresponding filing of the NI 43-101 report on the Panther property, which is available under the Company's corporate profile on SEDAR):


--  Measured Tonnes: 14,239,000 
--  Indicated Tonnes: 4,255,000 
--  Total Waste Quantities vs. Measured and Indicated Tonnes of Coal Strip
    Ratio of 1.5:1 
--  Inferred Tonnes: 9,130,000 
--  Total Waste Quantities vs. Inferred Strip Ratio of 1.6:1 
--  Coal is ranked as subbituminous C

Paul Conroy, President and CEO of Westcore, states "We are very pleased with the initial evaluation of coal resources from Black Diamond. Estimates of approximately two thirds of the overall tonnage in the Measured category and strip ratios of these proportions provide further positive encouragement for the potential mining of Black Diamond. These resource calculations, together with the initial resources recently declared on our Panther Property, further firm up the prospects of development of our area play. We are encouraged by these results and excited at the prospect of further expanding on the coal resources at Black Diamond and Panther with drilling on Luna and other untested targets in future drilling programs."

The database used to generate the resources from Black Diamond consisted of 44 exploration holes, of which 32 were diamond drill holes and 12 were rotary drill holes. Exploration holes were supplemented by airborne geophysical survey data. Seam and overburden thickness isopach and seam structure contour maps were manually generated from drill hole data on each deposit. Generated coal and overburden contours were digitized and entered into a computer based polygonal modelling program for volume determinations Coal seam volumes were computer generated separately for Measured, Indicated and Inferred categories. Coal tonnages were calculated by multiplying the coal volumes by 1.4 g/cc. Overburden volumes were also computer generated separately for Measured, Indicated and Inferred categories. Measured resources correspond to coal within 150 m of a drill hole where the adjacent drill hole also intersected the same seam. The fringe area outside the ring of drill holes and to the implied subcrop has been assigned to the Measured, Indicated and Inferred categories on the following basis: coal is assigned to the Measured category for the area 50 m outside the ring of drill holes, Indicated Category for the ring from 50 to 100 m beyond the ring of drill holes, and Inferred category for the area outside the 100 m ring and the estimated subcrop line. Minimum coal thickness is 1.5 metres, coal subcrop delineations were determined through geological interpretation of airborne geophysical survey data supplemented by seam thickness and structure contour mapping.

Peter Graham, Professional Geologist, is the independent Qualified Person pursuant to NI 43-101 who was responsible for the Evaluation and review of the technical contents of this news release.

Reader Advisory

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, the use of the net proceeds of the offering. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

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.

Contacts:
Westcore Energy Ltd.
Paul Conroy
President and Chief Executive Officer
(306) 649-0600
www.westcoreenergy.ca

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Early adopters of IoT viewed it mainly as a different term for machine-to-machine connectivity or M2M. This is understandable since a prerequisite for any IoT solution is the ability to collect and aggregate device data, which is most often presented in a dashboard. The problem is that viewing data in a dashboard requires a human to interpret the results and take manual action, which doesn’t scale to the needs of IoT.
When building large, cloud-based applications that operate at a high scale, it’s important to maintain a high availability and resilience to failures. In order to do that, you must be tolerant of failures, even in light of failures in other areas of your application. “Fly two mistakes high” is an old adage in the radio control airplane hobby. It means, fly high enough so that if you make a mistake, you can continue flying with room to still make mistakes. In his session at 18th Cloud Expo, Lee...
Continuous testing helps bridge the gap between developing quickly and maintaining high quality products. But to implement continuous testing, CTOs must take a strategic approach to building a testing infrastructure and toolset that empowers their team to move fast. Download our guide to laying the groundwork for a scalable continuous testing strategy.
Much of IT terminology is often misused and misapplied. Modernization and transformation are two such terms. They are often used interchangeably even though they mean different things and have very different connotations. Indeed, it is somewhat safe to assume that in IT any transformative effort is likely to also have a modernizing effect, and thus, we can see these as levels of improvement efforts. However, many businesses are being led to believe if they don’t transform now they risk becoming ...
"We provide DevOps solutions. We also partner with some key players in the DevOps space and we use the technology that we partner with to engineer custom solutions for different organizations," stated Himanshu Chhetri, CTO of Addteq, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
SYS-CON Events announced today the Enterprise IoT Bootcamp, being held November 1-2, 2016, in conjunction with 19th Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA. Combined with real-world scenarios and use cases, the Enterprise IoT Bootcamp is not just based on presentations but with hands-on demos and detailed walkthroughs. We will introduce you to a variety of real world use cases prototyped using Arduino, Raspberry Pi, BeagleBone, Spark, and Intel Edison. Y...
What does it look like when you have access to cloud infrastructure and platform under the same roof? Let’s talk about the different layers of Technology as a Service: who cares, what runs where, and how does it all fit together. In his session at 18th Cloud Expo, Phil Jackson, Lead Technology Evangelist at SoftLayer, an IBM company, spoke about the picture being painted by IBM Cloud and how the tools being crafted can help fill the gaps in your IT infrastructure.
CenturyLink has announced that application server solutions from GENBAND are now available as part of CenturyLink’s Networx contracts. The General Services Administration (GSA)’s Networx program includes the largest telecommunications contract vehicles ever awarded by the federal government. CenturyLink recently secured an extension through spring 2020 of its offerings available to federal government agencies via GSA’s Networx Universal and Enterprise contracts. GENBAND’s EXPERiUS™ Application...
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
As companies gain momentum, the need to maintain high quality products can outstrip their development team’s bandwidth for QA. Building out a large QA team (whether in-house or outsourced) can slow down development and significantly increases costs. This eBook takes QA profiles from 5 companies who successfully scaled up production without building a large QA team and includes: What to consider when choosing CI/CD tools How culture and communication can make or break implementation
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...