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
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, will provide a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to ...
SYS-CON Events announced today that Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
SYS-CON Events announced today that CAST Software will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CAST was founded more than 25 years ago to make the invisible visible. Built around the idea that even the best analytics on the market still leave blind spots for technical teams looking to deliver better software and prevent outages, CAST provides the software intelligence that matter ...
Docker containers have brought great opportunities to shorten the deployment process through continuous integration and the delivery of applications and microservices. This applies equally to enterprise data centers as well as the cloud. In his session at 20th Cloud Expo, Jari Kolehmainen, founder and CTO of Kontena, discussed solutions and benefits of a deeply integrated deployment pipeline using technologies such as container management platforms, Docker containers, and the drone.io Cl tool. H...
Given the popularity of the containers, further investment in the telco/cable industry is needed to transition existing VM-based solutions to containerized cloud native deployments. The networking architecture of the solution isolates the network traffic into different network planes (e.g., management, control, and media). This naturally makes support for multiple interfaces in container orchestration engines an indispensable requirement.
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution and join Akvelon expert and IoT industry leader, Sergey Grebnov, in his session at @ThingsExpo, for an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
Because IoT devices are deployed in mission-critical environments more than ever before, it’s increasingly imperative they be truly smart. IoT sensors simply stockpiling data isn’t useful. IoT must be artificially and naturally intelligent in order to provide more value In his session at @ThingsExpo, John Crupi, Vice President and Engineering System Architect at Greenwave Systems, will discuss how IoT artificial intelligence (AI) can be carried out via edge analytics and machine learning techn...
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, presented an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He then expounded on the industry issues he frequently came up against as an analyst, and ...
In his session at @ThingsExpo, Arvind Radhakrishnen discussed how IoT offers new business models in banking and financial services organizations with the capability to revolutionize products, payments, channels, business processes and asset management built on strong architectural foundation. The following topics were covered: How IoT stands to impact various business parameters including customer experience, cost and risk management within BFS organizations.
FinTechs use the cloud to operate at the speed and scale of digital financial activity, but are often hindered by the complexity of managing security and compliance in the cloud. In his session at 20th Cloud Expo, Sesh Murthy, co-founder and CTO of Cloud Raxak, showed how proactive and automated cloud security enables FinTechs to leverage the cloud to achieve their business goals. Through business-driven cloud security, FinTechs can speed time-to-market, diminish risk and costs, maintain continu...
As more and more companies are making the shift from on-premises to public cloud, the standard approach to DevOps is evolving. From encryption, compliance and regulations like GDPR, security in the cloud has become a hot topic. Many DevOps-focused companies have hired dedicated staff to fulfill these requirements, often creating further siloes, complexity and cost. This session aims to highlight existing DevOps cultural approaches, tooling and how security can be wrapped in every facet of the bu...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business - from apparel to energy - is being rewritten by software. From planning to development to management to security, CA creates software that fuels transformation for companies in the applic...