Welcome!

News Feed Item

Western Pacific sells Meridian Ridge Project to Midway Gold

VANCOUVER, Jan. 16, 2013 /PRNewswire/ - Western Pacific Resources Corp. (WRP - TSXV) is pleased to announce that it has sold its Meridian Ridge claims to Midway Gold Corp. (MDW - TSXV) for US$500,000. The Meridian Ridge claims are located 30 miles southeast of Eureka, Nevada along the southern extension of the Battle Mountain/Eureka Trend in the northern end of Railroad Valley (White Pine County). Midway's Pan Project is located 9.8 miles to the northwest of the claim block.

Warwick Smith, CEO of Western Pacific, comments: "We are very pleased to sell this non-core asset to Midway Gold. Any increase to the Treasury without diluting your shareholders is positive; our cash position is now approximately CAD$2.2 million.

Our efforts over the next 12 months will be heavily concentrated on sampling, metallurgical testing, and drilling the tailings at our flagship property, Mineral Gulch."

Western Pacific has engaged Tetra Tech, a leading engineering firm, to evaluate the historic heap leach process at Mineral Gulch, with the aim of possibly restarting commercial production (please see press release dated November 8, 2012).

About Mineral Gulch

Mineral Gulch is located in Cassia County, Idaho, along the southeast edge of the Black Pine Mountains, approximately 128 km southeast of Burley, Idaho.  Western Pacific Resources Corp. controls 100% of the Project.

The Project encompasses the historic Black Pine Mining District and surrounding exploration ground. Western Pacific has acquired the historical proprietary data for the property from Newmont Mining Corporation and Pegasus Mining.

Sporadic small-scale gold and base-metal mining occurred in the area as early as 1915.  Noranda conducted exploration programs at Black Pine between 1984 and 1990.  Pegasus Mining entered into a joint venture with Noranda in 1990 and became the majority owner and operator of the Project between 1992 and 1998.  The Black Pine Property produced over 500,000 ounces of gold at an average head grade of 1.5 grams from several small open pits.  Historic exploration and mining efforts were generally focused on near-surface, oxidized ore bodies.

Readers are cautioned that more work needs to be completed by Western Pacific to verify the tonnage and grade potential in the heap - estimates of tonnage and grade were based on historic production records provided by Pegasus's 1997 annual report and are not NI 43-101 compliant.

About Western Pacific

Western Pacific is a gold explorer focused on acquiring advanced-stage projects in the Western United States, and has the right combination of exploration and financial professionals to succeed in making a world class gold discovery. Western Pacific will continue to seek Joint Venture partners for its Rock Springs and Bombardier projects in Nevada. For more information, please visit our website at www.westernpacificresources.com.

Qualified Person

Clancy Wendt, M.Sc., a registered geologist in Arizona and British Columbia and a member of SME, SEG FAusIMM(CP) and PDAC, is Western Pacific's Qualified Person for the purposes of National Instrument 43-101.  Mr. Wendt has prepared or supervised the preparation of the disclosure of the scientific and technical information contained in this news release.

ON BEHALF OF THE BOARD

Warwick Smith, Chief Executive Officer

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation.  Important factors - including the availability of funds, the results of financing and exploration activities, the interpretation of drilling results and other geological data, risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits, project cost overruns or unanticipated costs and expenses -- that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com).  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.  The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Western Pacific Resources Corp.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discuss how businesses can gain an edge over competitors by empowering consumers to take control through IoT. We'll cite examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He'll also highlight how IoT can revitalize and restore outdated business models, making them profitable...
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
Many banks and financial institutions are experimenting with containers in development environments, but when will they move into production? Containers are seen as the key to achieving the ultimate in information technology flexibility and agility. Containers work on both public and private clouds, and make it easy to build and deploy applications. The challenge for regulated industries is the cost and complexity of container security compliance. VM security compliance is already challenging, ...
The pace of innovation, vendor lock-in, production sustainability, cost-effectiveness, and managing risk… In his session at 18th Cloud Expo, Dan Choquette, Founder of RackN, will discuss how CIOs are challenged finding the balance of finding the right tools, technology and operational model that serves the business the best. He will discuss how clouds, open source software and infrastructure solutions have benefits but also drawbacks and how workload and operational portability between vendors...
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
As machines are increasingly connected to the internet, it’s becoming easier to discover the numerous ways Industrial IoT (IIoT) is helping to shape the business world. This is exactly why we have decided to take a closer look at this pervasive movement and to examine the desire to connect more things! Now if you need a refresher on IIoT and how it is changing the world, take a moment and listen to Greg Gorbach with ARC Advisory Group. Gorbach believes, "IIoT will significantly change the worl...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit y...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...
Customer experience has become a competitive differentiator for companies, and it’s imperative that brands seamlessly connect the customer journey across all platforms. With the continued explosion of IoT, join us for a look at how to build a winning digital foundation in the connected era – today and in the future. In his session at @ThingsExpo, Chris Nguyen, Group Product Marketing Manager at Adobe, will discuss how to successfully leverage mobile, rapidly deploy content, capture real-time d...