May 13 2014
Waseco Resources Inc. is pleased to report that it intends to follow up on the excellent results of its 2012 drill program and the acquisition of the balance of the lease to the Battle Mountain Ridge gold project in Lander County, Nevada.
The Waseco Board has approved a drill program designed to expand several of the known gold zones previously identified on the property and evaluate new targets.
Subject to financing, the proposed drilling program is to consist of 6 to10 reverse circulation ("RC") holes, totaling up to 1,800m.
The initial focus will be on the North Zone where, in a core drilling program completed by Waseco, Hole 12#5 intersected 25.4 g/t Au (0.9oz/t) over 3.7m (12feet) in the interval 150-153.7m down hole (450-465feet) on a splay fault of the dominant stibnite fault. This interval included intersections of:
47.6 g/t Au (1.68 oz/t) over 0.9m (3 feet) and
61g/t Au (2.15 oz/t) over 0.6m (2 feet).
This hole is exceptional in that it has intersected the highest grade gold mineralization reported from any known exploration program completed on the property to date. This high grade zone remains open laterally and to depth. Three to four RC holes are planned for this area.
An upper zone, higher in the hole, between 128-147m (420-465 feet), returned gold values averaging of 1.82g/t Au (0.06oz) over 13.72m (45 feet). The intersections appear to be approximately 85% of true widths based on the core angles and information plotted on cross section.
A previous RC hole intersection, approximately 25m above Hole 12#5, returned 29m (95 feet) of 1g/t Au. Hole 12#6, drilled at 53 degrees to the east, returned intersections of 5.3 g/t Au over 1.5m from 65.8-67m, 0.49g/t Au over 3m from 178-181m and 1.15g/t Au over 0.9m from 194.5-193.4m.
The upper zone of core Hole 12#5, was not intersected in core Hole 12#6. It is believed that this higher grade zone may be off-set to the north and therefore was missed by Hole 12#6. This interpretation will be tested during the planned program.
The South Zone will also be tested by 1 or 2 holes to follow-up to several previous RC holes (7-5, 7-6, and 93-19) that intersected significant gold as well as core Hole 12#2 which intersected several mineralized zones. The upper zone returned 4.6m of 0.41 g/t Au from 6.1-10.7m. Two deeper zones, from 59.5-68.6 and 74.7-76.2 m, returned 8.4m of 0.52g/t Au and 1.5m of 0.53g/t Au, respectively. This mineralization appears to extend to surface as a 1m chip sample at the surface returned 0.63g/t Au but extensive surface sampling or trenching has not yet been done in this area. This zone is open to the north where no drilling has carried out to date to extend the zone. The intersection of two major fault zones about 150m to the north makes this area a priority target.
The gold mineralization at BMR is structurally controlled and the continuity may be disrupted by offsets which displace the gold zones laterally and vertically. The extension of the North zone to the southeast appears to be offset by a documented east west fault and a similar of extension of the soil and rock chip geochemical anomaly associated with the North Zone supports this interpretation. This extension has not been tested. At least two holes are proposed in this area.
Source: http://www.wasecoresources.com/