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.

Contacts:
Walker River Resources Corp.
(819) 874-0030
(819) 825-1199 (FAX)
[email protected]
www.wrrgold.com

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
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, will discuss how by using...
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
SYS-CON Events announced today that Daiya Industry will exhibit at the Japanese Pavilion 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. Ruby Development Inc. builds new services in short period of time and provides a continuous support of those services based on Ruby on Rails. For more information, please visit https://github.com/RubyDevInc.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
As businesses evolve, they need technology that is simple to help them succeed today and flexible enough to help them build for tomorrow. Chrome is fit for the workplace of the future — providing a secure, consistent user experience across a range of devices that can be used anywhere. In her session at 21st Cloud Expo, Vidya Nagarajan, a Senior Product Manager at Google, will take a look at various options as to how ChromeOS can be leveraged to interact with people on the devices, and formats th...
First generation hyperconverged solutions have taken the data center by storm, rapidly proliferating in pockets everywhere to provide further consolidation of floor space and workloads. These first generation solutions are not without challenges, however. In his session at 21st Cloud Expo, Wes Talbert, a Principal Architect and results-driven enterprise sales leader at NetApp, will discuss how the HCI solution of tomorrow will integrate with the public cloud to deliver a quality hybrid cloud e...
Is advanced scheduling in Kubernetes achievable? Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, will answer these questions and demonstrate techniques for implementing advanced scheduling. For example, using spot instances ...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
SYS-CON Events announced today that Yuasa System will exhibit at the Japan External Trade Organization (JETRO) Pavilion 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. Yuasa System is introducing a multi-purpose endurance testing system for flexible displays, OLED devices, flexible substrates, flat cables, and films in smartphones, wearables, automobiles, and healthcare.
The session is centered around the tracing of systems on cloud using technologies like ebpf. The goal is to talk about what this technology is all about and what purpose it serves. In his session at 21st Cloud Expo, Shashank Jain, Development Architect at SAP, will touch upon concepts of observability in the cloud and also some of the challenges we have. Generally most cloud-based monitoring tools capture details at a very granular level. To troubleshoot problems this might not be good enough.
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
Organizations do not need a Big Data strategy; they need a business strategy that incorporates Big Data. Most organizations lack a road map for using Big Data to optimize key business processes, deliver a differentiated customer experience, or uncover new business opportunities. They do not understand what’s possible with respect to integrating Big Data into the business model.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities – ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups. As a result, many firms employ new business models that place enormous impor...