|By Marketwired .||
|January 12, 2017 08:30 AM EST|
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/12/17 -- West Kirkland Mining Inc. (TSX VENTURE: WKM) ("West Kirkland" or the "Company") announces that it has given notice to Eastfield Resources (USA) Inc. ("Eastfield") of West Kirkland's election to purchase 7 patented mining claims comprising approximately 140 acres over a portion of the Hasbrouck and Three Hills Project. On September 11, 2014, the Company entered a mining lease and purchase agreement with Eastfield for the patented mining claims, including surface rights. Total consideration to be paid is CDN$285,000, of which CDN$155,000 has already been paid, leaving a balance due of CDN$130,000. The legal process to close the purchase has been initiated by the Company. Closing and registration of title are expected to be completed by the end of January.
The purchase of the Eastfield patented claims and surface rights is consistent with the fully permitted Plan of Operations for the Three Hills gold mine. Federal permits for the construction and operation of Three Hills as an open pit, run-of-mine, heap leach gold extraction operation were obtained in November, 2015.
The Company also announces that at Three Hills a 1,300 meter reverse circulation ("RC") drill program has now commenced. Drilling will initially explore targets east of the permitted open pit by stepping out from hole MW14-01 (40 meters @ 1.36 g/t, 55 meters below collar), and TH12R-15 (66 meters @ 3.3 g/t, 76 meters below collar). Drill targets at Three Hills are adjacent to some of the best intercepts on the property. The earlier holes referenced above are located within the permitted open pit boundary, but are not located within the current reserve boundary.
After the planned RC drilling at Three Hills is complete, the Company also intends to perform step-out and infill RC drilling at the newly acquired Hill of Gold property, which lies three kilometers south of Three Hills and between the Three Hills and Hasbrouck Mines. Earlier drilling at the Hill of Gold by past operators totals 29,926 feet from 83 reverse circulation holes and 6 core holes. A small historical resource was estimated at Hill of Gold. Core crushed to 1-1/2 inch was tested by McClelland Laboratories Inc. in columns with gold recovery from cyanide leaching projected at 81.0% and 86.7% after 62 to 79 days.
Drilling performed at Hill of Gold in 1993 in the area currently targeted by WKM includes hole 93-63 (32 meters of 0.5 g/t gold, 58 meters below collar), and hole 93-61 (41 meters of 1 g/t gold, 70 meters below collar). Drilling in this same area in 1996 included hole HG96-5 (29 meters of 1.2 g/t gold, 55 meters below collar) and hole HGC96-6 (17 meters of 2.9 g/t gold, 59 meters below collar). Modelling by West Kirkland suggests these intercepts are open for further expansion near-surface at potential open-pit depths. The Hill of Gold host rocks and geological setting of gold mineralization are similar to the Three Hills deposit.
To view the map accompanying this press release, click on the following link: http://media3.marketwire.com/docs/WKM112.jpg
About West Kirkland Mining Inc.
West Kirkland owns a 75% interest in the Hasbrouck Gold Project in Tonopah, Nevada. A Pre-Feasibility Study and Environmental Assessment with construction-level drawings and all federal and state permits for the phase-one Three Hills Mine provides an advanced project with the potential for expansion from current drilling. West Kirkland also holds a 60% interest in the open pit heap-leach TUG Gold Project in Utah in Joint Venture with Newmont.
On behalf of West Kirkland Mining Inc.
"R. Michael Jones"
Chief Executive Officer
Quality Assurance and Quality Control, Authors and Qualified Persons Statement
The historical drill hole information reported here is from well-known professional operators. These assays are prior to the establishment of NI 43-101. The author is aware of the companies involved in the work and has reviewed the historical reports.
R. Michael Jones, P. Eng., Chief Executive 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.
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 statements regarding the use of proceeds and the holdings of the Company's major shareholders and other statements that are not historical facts. Information concerning mineral resource/reserve estimates and the economic analysis thereof contained in the prefeasibility study are also forward-looking statements in that they reflect a prediction of the mineralization that would be encountered, and the results of mining it, if a mineral deposit were developed and mined. 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, significant increases in any of the machinery, equipment or supplies required to develop and operate a mine, a significant change in the availability or cost of the labor force required to operate a mine, a significant increases in the cost of transportation for the Company's products, 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.
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.
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