Welcome!

News Feed Item

Walker Increases Interest in Sleeper Lapon Canyon

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/27/14 -- Walker River Resources Corp. ("Walker" or the "Company") (TSX VENTURE:WRR) is pleased to announce that it has increased its interest in the Sleeper Lapon Canyon lease and property to 100%, effectively removing District Gold Inc. and World Ventures Inc. as parties to the agreement.

The Sleeper-Lapon Canyon gold project consists of 36 claims (720 acres-292 hectares), situated about 60 kilometres south of Yerington, Nev., in the Wasuk Range easily accessible by secondary roads from the main highway (25 kilometres). A power transmission line passes within three kilometres of the property. The Sleeper-Lapon Canyon project is located within the Walker Lane shear zone, a 100-kilometre-wide structural corridor extending in a southeast direction from Reno. The past-producing historic Comstock Lode silver/gold mine is located within this trend, as is the past-producing Esmeralda/Aurora gold mine, with reported production of about 1.0 million ounces, located 30 kilometres southwest of the project.

The new Nevada Copper gold-copper mine, is located some 30 kilometres north of the project also within the Wasuk Range. (Pumpkin Hollow, 981, 000 ounces gold, 34 million ounces silver, 5.4 billion pounds copper).

An original agreement was signed with District Gold Inc. and World Ventures Inc. for the acquisition of 75% of the Lapon Canyon project, under lease to D.R. Potts (Deceased).

As it has been determined that both District and World Ventures could not deliver the lease as stipulated, they have entered into a Release Agreement, whereby District and World Ventures, fully release and discharge Walker from the original agreement.

In consideration of the Release, Walker has agreed to issue to District 100,000 common shares, and to World Ventures 100,000 shares. On or about February 28, 2015 an additional 50,000 shares each will be issued to both parties.

In addition District and World Ventures retain a 0.5% N.S.R. respectively.

100% of the Sleeper Lapon Canyon lease has been transferred to and registered in the name of Walker River Resources Corp.

Concurrent with increasing our interest, the company has also entered into an agreement with the leaseholder removing all work commitments during the term of the lease in lieu of issuing 200 000 shares of the Company each year for the term of the lease (4 years). Lease payments are $13500.00 quarterly and the lease may be cancelled and 100% of the property purchased at any time for $400 000.00. Lease payments made prior to the buyout are credited to the final payment. The lease is valid till March 1 2017. The leaseholder retains a 0.5% NSR.

Previous work began in 1907 with the discovery of vein-type gold mineralization on the Sleeper claims. Approximately 600 metres of underground drifts and adits were used to explore and access a series of high grade vein-type structures. From 1914 to 1924, a two-stamp mill was erected, and limited production was reported. Further limited underground exploration 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 gold (Gruenwald, 1994, National Instrument 43-101 report dated Feb. 15, 2004, by Dr. J.H. Montgomery, PE eng, and N. Barr, BSc).

Initial geology and exploration work by Walker began in September under the supervision of Mr. Tom Evans MSc geology, a registered geologist with over 40 years of experience in the Western United States and Mexico.

Results show that the gold mineralization is located within steeply, dipping, sheared and altered cross fault structures crossing the Walker Lane Trend.

A grab sample taken near the entrance to the old mine adit returned a value of 0.398 ounces per ton gold (12.8 grams) (treated at ALS/Chemex Labs), and consisted of altered and sheared rock containing quartz and sulphides. (see news release January 9, 2014)

E. Gauthier,geol., Eng (OIQ), acts as the qualified person to the Company and has reviewed and approved the contents of this release.

ON BEHALF OF THE BOARD OF DIRECTORS

Michel David, Chief Executive Officer and Director

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

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
Pentaho has announced orchestration capabilities that streamline the entire machine learning workflow and enable teams of data scientists, engineers and analysts to train, tune, test and deploy predictive models. Pentaho’s Data Integration and analytics platform ends the ‘gridlock’ associated with machine learning by enabling smooth team collaboration, maximizing limited data science resources and putting predictive models to work on big data faster – regardless of use case, industry, or languag...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
SYS-CON Events announced today that Addteq will exhibit at SYS-CON's DevOps Summit at Cloud Expo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Addteq specializes in creating innovative solutions to solve business processes through the use of DevOps automation. Addteq was founded on the firm belief that automation is essential for successful software releases. Addteq's products and services are centered around the fundamental approach of understanding the pr...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Peak 10 has announced that it has completed a 20,000 square foot expansion of its Cincinnati-area data center, a 6,000 square foot expansion of its data center campus in Charlotte’s University Research Park, and added a pair of seasoned executives to its leadership team. This further propels the company on its aggressive growth trajectory to meet the rising demand for flexible hybrid IT strategies and solutions across its enterprise customer base. Cincinnati is home to companies like Kroger, Pr...
VeriStor Systems has announced that CRN has named VeriStor to its 2017 Managed Service Provider (MSP) 500 list in the Elite 150 category. This annual list recognizes North American solution providers with cutting-edge approaches to delivering managed services. Their offerings help companies navigate the complex and ever-changing landscape of IT, improve operational efficiencies, and maximize their return on IT investments. In today’s fast-paced business environments, MSPs play an important role...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
SYS-CON Events announced today that Infranics will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...
Virtualization over the past years has become a key strategy for IT to acquire multi-tenancy, increase utilization, develop elasticity and improve security. And virtual machines (VMs) are quickly becoming a main vehicle for developing and deploying applications. The introduction of containers seems to be bringing another and perhaps overlapped solution for achieving the same above-mentioned benefits. Are a container and a virtual machine fundamentally the same or different? And how? Is one techn...
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
"I think that everyone recognizes that for IoT to really realize its full potential and value that it is about creating ecosystems and marketplaces and that no single vendor is able to support what is required," explained Esmeralda Swartz, VP, Marketing Enterprise and Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...