Welcome!

News Feed Item

West Kirkland Commences Exploration and Prefeasibility Study for Hasbrouck Project, Nevada

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/03/14 -- West Kirkland Mining Inc. (TSX VENTURE: WKM) ("West Kirkland, WKM" or the "Company") announces today that it has completed a thorough project plan on its recently acquired Hasbrouck and Three Hills properties (the "Hasbrouck Project") and will immediately start exploration and initiate a prefeasibility study (the "Prefeasibility Study").

West Kirkland recently raised $33.1 million in related financings and acquired a 75% interest in the Hasbrouck Project for a purchase price of US$20 million. Following the announcement of the Hasbrouck Project acquisition agreement in January, 2014, West Kirkland announced a mineral resource estimate increase of approximately 10%, which incorporated the results of subsequent drilling completed since the most recent mineral resource estimate disclosed in 2012 by the property vendor (see news release dated February 24, 2014) and the completion of a technical report dated February 21, 2014 titled "Technical Report for the Hasbrouck Project Esmeralda County, Nevada, USA, West Kirkland Mining Inc." (the "Technical Report") authored by Scott E. Wilson, C.P.G., which has been filed under the Company profile on SEDAR at www.sedar.com.

The Company has previously stated that in keeping with the recommendations of the Technical Report, it would complete a preliminary economic assessment of the Hasbrouck Project. However, the Company has recently completed a detailed review of the three dimensional deposit models, incorporating the recent mineral resource estimate increase referred to above, and conducted internal engineering, planning and interaction with the community and permit regulatory bodies, and now has sufficient confidence to proceed directly to the prefeasibility stage on the Three Hills and Hasbrouck surface oxide gold deposits.

The Hasbrouck Project includes two all-oxide deposits with at-surface and near-surface mineralization having minimal pre-strip and a low overall stripping ratio. Both deposits are well-drilled with over 600 bore holes. In addition, extensive metallurgical test work has been done indicating approximately 60% recovery at Hasbrouck and 80% recovery at Three Hills by heap leaching with moderate cyanide and lime consumption.

Both deposits have easy access from the state highway system and grid power is available nearby. The deposits are above the water table which simplifies operations, permitting and closure. The expected project approach to the Prefeasibility Study will be to look at two open pits with low-strip ratios and no pre-strips with heap leach extraction. The initial design concepts will focus on an initial operation at Three-Hills with a lower scale and environmental profile. The second phase of the design concept will then focus on Hasbrouck which has a longer potential permit time line. Initial feedback on this two-staged approach from local interests and state and federal regulators has been positive.

The new deposit model completed and announced by WKM has provided obvious exploration targets, including targets immediately adjacent to the Three Hills deposit and the Hasbrouck deposit. A 2,000 meter drilling program is expected to commence in July, 2014. The drilling program will involve resource infill, and step-outs, groundwater characterization, metallurgical samples, condemnation holes for infrastructure areas, water source and geotechnical studies.

Prefeasibility Study Detail

West Kirkland intends to complete the Prefeasibility Study by Q1 of 2015 using a team of leading, Nevada-based consultants, including:

--  Mine Development Associates - resources, mine design and report
    production
--  HC Osborne & Associates - metallurgy and process consultant
--  Kappes Cassiday & Associates - metallurgy and process design
--  NewFields - heap leach design and engineering
--  McClelland Labs - laboratory analyses and assays
--  N.A. Degerstrom - mine planning reviewer

Resource

The combined Hasbrouck and Three Hills deposits includes 1,279,900 gold equivalent (AuEq) ounces in the Measured and Indicated category (78.2 million tons at 0.012 opt Au and 0.232 opt Ag for 0.016 opt AuEq) and 761,000 ounces AuEq in the Inferred Category (69.9 million tons at 0.008 opt Au and 0.159 Ag for 0.011 opt AuEq) using a 0.005 opt AuEq cut-off. (See Technical Report filed on SEDAR. Gold equivalent ounces are calculated as follows: AuEq =Au+Ag/57.14).(i)

Exploration

Exploration drilling will be completed by reverse circulation methods and be focused primarily on areas immediately adjacent to the Three Hills and Hasbrouck deposits on specific mapped and modelled structures associated with the control of mineralization.

Permitting

Pre-application meetings with the Bureau of Land Management (BLM) and the Nevada Division of Environmental Protection (NDEP) have commenced the formal permitting process. Surveys required by the BLM include sensitive species and cultural resources and are currently being conducted. Rock characterization studies are required by NDEP for a Water Pollution Control Permit. Permitting work will initially focus on the Three Hills deposit which has a small footprint and short life of mine (approximately two years). These factors may result in a simpler and shorter permitting process.

Budget

The Prefeasibility Study, engineering drilling, permitting work and the immediate exploration program is budgeted to cost $5 million, in line with previous plans and milestones.

Qualified Persons

(i) Mr. Scott E. Wilson, AIPG Certified Professional Geologist, is WKM's Independent Qualified Person as defined under NI 43-101. Mr. Wilson has reviewed and verified the data disclosed in this news release to be in conformity with generally accepted CIM "Estimation of Mineral Resource and Mineral Reserves Best Practices" guidelines and in accordance with NI 43-101.

Sandy McVey, Chief Operating Officer for West Kirkland, and a non-independent Qualified Person as defined by NI 43-101, has reviewed the information contained in this news release and has verified the data.

About West Kirkland Mining Inc.

West Kirkland was formed in 2010 to focus on gold exploration along major geological trends in North America. The Company has consolidated significant mineral rights positions within the known gold trends of Nevada and Utah, including the recently acquired the Hasbrouck and Three Hills properties in southwestern Nevada. The founders and Board members of West Kirkland have successful experience in gold discovery, mine development and mine operations in Nevada and other gold producing jurisdictions in North America.

Disclaimer for Forward-Looking Information

This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. Forward-looking information in this news release includes, without limitation, the completion of the Prefeasibility Study, the project approach of the Prefeasibility Study and exploration and all information under the heading "Prefeasibility Study Detail", including the Prefeasibility Study budget. Although West Kirkland believes that such timing and expenses as set out in this press release are reasonable, it can give no assurance that such expectations and estimates will prove to be correct. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the market for gold or other minerals that may be produced generally, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's ability to obtain any necessary permits, consents or authorizations required for its activities, to raise the necessary capital or to be fully able to implement its business strategies and other risks associated with the exploration and development of mineral properties. The reader is referred to the Company's public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company's profile on SEDAR at www.sedar.com.

Cautionary Note to U.S. Investors Regarding the Use of Mining Terms

This press release has been prepared in accordance with the securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all resource and reserve estimates included in this press release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian standards, including NI 43-101, differ significantly from the requirements of the U.S. Securities and Exchange Commission (the "SEC"), and resource and reserve information contained therein may not be comparable to similar information disclosed by U.S. companies. In particular, and without limiting the generality of the foregoing, the term "resource" does not equate to the term "reserves". Under U.S. standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. The SEC's disclosure standards normally do not permit the inclusion of information concerning "measured mineral resources", "indicated mineral resources" or "inferred mineral resources" or other descriptions of the amount of mineralization in mineral deposits that do not constitute "reserves" by U.S. standards in documents filed with the SEC. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves.

U.S. investors should also understand that "inferred mineral resources" have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an "inferred mineral resource" will ever be upgraded to a higher category. Under Canadian rules, estimated "inferred mineral resources" may not form the basis of feasibility or pre-feasibility studies except in rare cases. Investors are cautioned not to assume that all or any part of an "inferred mineral resource" exists or is economically or legally mineable. Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in-place tonnage and grade without reference to unit measures. The requirements of NI 43-101 for identification of "reserves" are also not the same as those of the SEC, and reserves reported by the Company in compliance with NI 43-101 may not qualify as "reserves" under SEC standards. In addition, under SEC standards, a company may only be identified as "development" stage if it has established "reserves" by SEC standards and is engaged in the preparation of such reserves for extraction. Accordingly, information concerning mineral deposits set forth in this press release may not be comparable with information made public by companies that report in accordance with U.S. standards.

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.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:
West Kirkland Mining Inc.
R. Michael Jones
(604) 685-8311

West Kirkland Mining Inc.
Knox Henderson
(604) 685-8311
(604) 484-4710 (FAX)

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
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abilit...
For far too long technology teams have lived in siloes. Not only physical siloes, but cultural siloes pushed by competing objectives. This includes informational siloes where business users require one set of data and tech teams require different data. DevOps intends to bridge these gaps to make tech driven operations more aligned and efficient.
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service.
HyperConvergence came to market with the objective of being simple, flexible and to help drive down operating expenses. It reduced the footprint by bundling the compute/storage/network into one box. This brought a new set of challenges as the HyperConverged vendors are very focused on their own proprietary building blocks. If you want to scale in a certain way, let's say you identified a need for more storage and want to add a device that is not sold by the HyperConverged vendor, forget about it...
Digital Transformation is much more than a buzzword. The radical shift to digital mechanisms for almost every process is evident across all industries and verticals. This is often especially true in financial services, where the legacy environment is many times unable to keep up with the rapidly shifting demands of the consumer. The constant pressure to provide complete, omnichannel delivery of customer-facing solutions to meet both regulatory and customer demands is putting enormous pressure on...
The best way to leverage your CloudEXPO | DXWorldEXPO presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering CloudEXPO | DXWorldEXPO will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at CloudEXPO. Product announcements during our show provide your company with the most reach through our targeted audienc...
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
JETRO showcased Japan Digital Transformation Pavilion at SYS-CON's 21st International Cloud Expo® at the Santa Clara Convention Center in Santa Clara, CA. The Japan External Trade Organization (JETRO) is a non-profit organization that provides business support services to companies expanding to Japan. With the support of JETRO's dedicated staff, clients can incorporate their business; receive visa, immigration, and HR support; find dedicated office space; identify local government subsidies; get...
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world.
DXWorldEXPO LLC announced today that ICC-USA, a computer systems integrator and server manufacturing company focused on developing products and product appliances, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City. ICC is a computer systems integrator and server manufacturing company focused on developing products and product appliances to meet a wide range of ...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors!
DXWorldEXPO LLC announced today that the upcoming DXWorldEXPO | CloudEXPO New York event will feature 10 companies from Poland to participate at the "Poland Digital Transformation Pavilion" on November 12-13, 2018.
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
22nd International Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, and co-located with the 1st DXWorld Expo will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud ...