BC Geologic Survey Paper Reinforces WestKam Exploration Strategy at Bonaparte
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/27/13 -- WestKam Gold Corp. (TSX VENTURE: WKG) ("WestKam" or the "Company") announced today that the BC Ministry of Energy, Mines and Natural Gas has released a BC Geological Survey Paper on WestKam's Bonaparte Property located near Kamloops in southern British Columbia. The report resulted from an investigation of Bonaparte by BC government geologists Jim Logan and Mitch Mihalynuk in 2012. A summary of their findings was released in January 2013. A link to the full report is posted on the "Recent News" section of WestKam's website (www.westkamgold.com).
The report, titled "Bonaparte Gold: another 195 Ma porphyry Au-Cu deposit in southern British Columbia?" was highlighted by their statement, "We speculate that the Bonaparte deposit represents an upper level of a buried porphyry system."
"We are extremely encouraged by the positive data presented in this arm's length investigation," said WestKam President & CEO Matt Wayrynen. "We have long believed that the Bonaparte property holds significant potential for discovery of a large-scale, porphyry copper-gold system."
Following is a summary of Mr. Logan's and Mr. Mihalynuk's findings:
1. The Bonaparte property lies within the north-trending Wildhorse-
Takomkane magmatic belt midway between the former Brenda porphyry
copper-molybdenum mine and Woodjam porphyry copper-gold deposit.
2. The age of the Bonaparte intrusive complex has not been determined, but
is assumed to be Early Jurassic based on its position in the magmatic
belt. This important correlation will be confirmed when isotopic age
determinations are completed.
3. The Bonaparte intrusive complex consists of biotite-altered and
silicified quartz diorite porphyry; a younger, propylitic to potassic-
altered monzodiorite; and thin cross-cutting granite dykes.
4. High-grade gold mineralization that has been the focus of exploration on
the property occurs in a series of discrete quartz-sulphide veins that
cut the intrusive complex at the Discovery Zone.
5. Biotite, sericite and carbonate alteration of the rock that envelope the
veins is accompanied by disseminated and fracture-controlled pyrite,
chalcopyrite and arsenopyrite +/- molybdenite.
6. A grab sample of this style of mineralization returned values of 0.12%
Cu, 0.26 g/t Au and 2.2 g/t Ag.
7. The geologic setting, alteration assemblages and styles of
mineralization suggest that the Bonaparte deposit may represent the
upper level of a buried porphyry system.
The company is preparing for its next round of exploration in 2013. "This report by the BC government reinforces our confidence in WestKam's current exploration plans." Mr. Wayrynen added. "We're excited to test the potential for a hidden, well-mineralized bulk-tonnage copper-gold deposit in addition to the focused drilling campaign on the Discovery Zone gold veins."
WestKam Gold's plans for 2013 include a comprehensive surface mapping and sampling program and systematic drill campaign designed to 1) establish a NI 43-101 compliant resource for the property, 2) evaluate potential extensions to the known veins, and 3) explore the property's potential to host a deeper bulk tonnage, porphyry copper-gold (+/- molybdenum) deposit.
About WestKam Gold Corp.
WestKam Gold Corp. is a Canadian gold exploration company focused on developing the Bonaparte Gold Project near Kamloops, British Columbia. Additional information can be found on the company's website at www.westkamgold.com
ON BEHALF OF THE BOARD OF DIRECTORS
Matt Wayrynen, President
Forward looking statements: This release contains statements that are forward looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward looking statements.
Neither 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:
WestKam Gold Corp.
John Ulmer
Investor Relations
778.994.6453
www.westkamgold.com
