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
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, will show how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningfu...
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
Redis is not only the fastest database, but it has become the most popular among the new wave of applications running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 18th Cloud Expo, Dave Nielsen, Developer Relations at Redis Labs, will shares the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, will discuss how leveraging the Industrial Interne...
In his session at 18th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., will focus on real world deployments of DDoS mitigation strategies in every layer of the network. He will give an overview of methods to prevent these attacks and best practices on how to provide protection in complex cloud platforms. He will also outline what we have found in our experience managing and running thousands of Linux and Unix managed service platforms and what specifically c...
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
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.
Many private cloud projects were built to deliver self-service access to development and test resources. While those clouds delivered faster access to resources, they lacked visibility, control and security needed for production deployments. In their session at 18th Cloud Expo, Steve Anderson, Product Manager at BMC Software, and Rick Lefort, Principal Technical Marketing Consultant at BMC Software, will discuss how a cloud designed for production operations not only helps accelerate developer...
A critical component of any IoT project is the back-end systems that capture data from remote IoT devices and structure it in a way to answer useful questions. Traditional data warehouse and analytical systems are mature technologies that can be used to handle large data sets, but they are not well suited to many IoT-scale products and the need for real-time insights. At Fuze, we have developed a backend platform as part of our mobility-oriented cloud service that uses Big Data-based approache...
Peak 10, Inc., has announced the implementation of IT service management, a business process alignment initiative based on the widely adopted Information Technology Infrastructure Library (ITIL) framework. The implementation of IT service management enhances Peak 10’s current service-minded approach to IT delivery by propelling the company to deliver higher levels of personalized and prompt service. The majority of Peak 10’s operations employees have been trained and certified in the ITIL frame...