VANCOUVER, British Columbia,
April 25, 2012 /PRNewswire/ --
Westridge Resources Inc. (TSX-V: WST) (the "Company")
announces that drilling at its Charay Project in Mexico has extended high grades in the El
Padre Vein to depths of approximately 150 meters down dip (2.4m at
10.15 gpt Au, including 1.4m at 15.25 gpt Au and 127 gpt Ag).
Drilling has also intersected additional high grade veins not
previously known (1.0m at 20.6 gpt Au). Surface sampling has
identified high grade gold values (up to 12.5 gpt Au) in new
additional epithermal veins and extensions of the El Padre
system.
(Photo: http://photos.prnewswire.com/prnh/20120425/SF94392)
"With each step of our exploration, this district simply
continues to get larger and respond with high grade results" states
Robert Barker, Phd Geologist and
Board Member. "We continue to intersect high grades in newly
discovered veins. Our surface sampling has identified values in
veins of up to 12.5 gpt Au, including 8.3 gpt Au in a vein
approximately 600 meters along strike and northeast of the Tiro
Barraza shaft. We are particularly pleased with the widths of some
of the vein structures, namely the 3.25m intersection of the El
Padre Vein in drill hole 12-32, including 1.0m at 7.68 gpt Au. This
is very encouraging, particularly when coupled with a previously
reported intersection in our due diligence drilling of 9.8m at
18.78 gpt Au. We are eager to initiate a larger, more aggressive
drill program to start to properly test the large number of targets
in this growing gold system. We have explored far less than 1%
of our 105 Sq Kilometer property package"
"Drill hole 12-28 intersected the El Padre vein and three
hanging wall veins, the highest of which returned 1.0m at 20.6 gpt
Au, followed by a second vein of 1.2m at 9.56 gpt Au and greater
than 100 gpt Ag. These veins were not known prior to this round of
drilling and clearly indicate high grade potential in numerous
veins sub parallel to the El Padre Vein," comments Dr. John Dreier, Chief Geologist for Westridge.
"Drill hole 12-31 intersected the El Padre Vein approximately 150
meters down dip, with an assay of 2.4m at 10.15 gpt Au, including
1.4m at 15.25 gpt Au and 127 gpt Ag, demonstrating high grades
intersected well below previous shallower drilling. These grade
intervals all represent grade-thickness, values well above cutoff
grades in many Mexican underground gold-silver mines. Our drilling
has shown high grades in the El Padre Vein to approximately 150
meters down dip, three times the depth previously known. Our
surface sampling has indicated a cumulative strike length of
mineralized veins to about 3,000 meters, more than ten times the
strike length known when we started exploring the property. We are
very excited about what we have seen."
Drill
Core From Hole 31 Drilling Summary, Charay
Project
|
Drill
Hole
|
Vein and
Wall Rock
|
From
(m)
|
To
(m)
|
Meters
|
Au
(g/t)
|
Ag
(g/t)
|
12-28
|
Vein
1
|
56.0
|
57.0
|
1.0
|
20.60
|
5.08
|
|
Wall
Rock
|
151.0
|
152.0
|
1.0
|
1.82
|
8.62
|
|
Vein
2
|
152.0
|
153.2
|
1.2
|
4.46
|
>100
|
|
Wall
Rock
|
178.0
|
179.0
|
1.0
|
3.44
|
7.41
|
|
Vein
3
|
179.0
|
180.0
|
1.0
|
4.46
|
14.45
|
|
Vein
4
|
190.0
|
191.0
|
1.0
|
0.51
|
8.63
|
|
Vein
4
|
191.0
|
192.0
|
1.0
|
4.60
|
5.49
|
|
Vein
4
|
192.0
|
193.0
|
1.0
|
3.63
|
9.58
|
12-31
|
Vein
2
|
111.6
|
112.0
|
0.4
|
0.96
|
26.0
|
|
Wall
Rock
|
118.0
|
119.0
|
1.0
|
3.02
|
39.9
|
|
El
Padre
|
120.0
|
121.4
|
1.4
|
15.25
|
127.0
|
12-32
|
Wall
Rock
|
180.0
|
181.0
|
1.0
|
0.78
|
10.65
|
|
Wall
Rock
|
181.0
|
182.0
|
1.0
|
0.30
|
1.35
|
|
El
Padre
|
182.0
|
183.0
|
1.0
|
7.68
|
7.0
|
|
El
Padre
|
183.0
|
184.0
|
1.0
|
0.12
|
2.46
|
|
El
Padre
|
184.0
|
185.25
|
1.25
|
0.35
|
1.54
|
12-33
|
Vein
|
189.45
|
189.85
|
0.4
|
6.24
|
12.8
|
|
Alt.
Rock
|
189.85
|
191.0
|
1.15
|
0.08
|
1.91
|
|
Vein
|
191.0
|
192.15
|
1.15
|
6.11
|
16.25
|
12-34
|
Wall
Rock
|
79.0
|
80.0
|
1.0
|
1.28
|
81.8
|
|
Vein
|
82.0
|
83.0
|
1.0
|
0.19
|
15.7
|
|
Vein
|
83.0
|
84.0
|
1.0
|
0.10
|
8.9
|
|
Vein
|
84.0
|
85.0
|
1.0
|
0.25
|
25.6
|
|
Vein
|
85.0
|
86.0
|
1.0
|
0.17
|
13.35
|
|
Vein
|
86.0
|
87.0
|
1.0
|
0.83
|
12.3
|
12-35
|
Vein
|
61.4
|
61.8
|
0.4
|
0.60
|
28.8
|
|
Vein
|
69.1
|
70.0
|
0.9
|
0.58
|
42.8
|
|
Vein
|
108.75
|
109.35
|
0.6
|
1.46
|
10.6
|
12-36
|
Working
|
37.3
|
38.8
|
No
core
|
|
|
|
Vein
|
118.0
|
119.25
|
1.25
|
0.08
|
1.68
|
Assays were completed by ALS Minerals utilizing a 50 gram charge
fire assay, AA finish with over limits being finalized by
gravimetric methods. At this early stage of exploration true
thicknesses of intersections are not precisely known. Drill holes
12-29and 12-30 were apparently collared too far to the south and
missed the vein target.
Surface sampling demonstrates the presence of high grade gold
values up to 12.5 gpt Au in eastward extensions of the El Padre
vein system, approximately 150 meters east-northeast of the Tiro
Barraza workings. Surface sampling also identifies gold values of
10.4 gpt Au and 12.6 gpt Au in vein structures sub-parallel to the
El Padre vein, 180-230 meters east of Tiro Barraza. In addition,
surface sampling has identified 8.3 gpt Au in a vein structure
approximately 600 meters northeast of Tiro Barraza. Anomalous gold
values were also identified in a vein structure approximately 400
meters southeast of the main El Padre vein. Due to poor outcrop and
exposure, the true width represented by these samples is not well
understood.
Subject to financing the Company plans a much larger and more
aggressive drilling program to properly test the many targets
already identified. This program will include, mapping and
trenching to continue to define the veins on the surface,
geochemical sampling to prioritize the many potential drill targets
and to identify additional mineralized structures on the property.
Management believes that there is excellent potential for the
discovery of new epithermal gold-silver veins elsewhere on this
property as evidenced by the discovery of additional quartz veins
that have not yet been mapped or sampled.
Management is very excited about the present and future
potential of our ever expanding vein structures. The Company
believes that with our experienced management team and proper
funding, shareholders value should greatly improve.
About Westridge Resources
Westridge Resources Inc. is a Canadian-based mineral exploration
company focused on the acquisition, evaluation and exploration of
mineral resource properties. Westridge has an option to acquire up
to a 100% interest in the Charay Gold/Silver Project, located in
Sinaloa State, Mexico.
For further information please contact:
Alan Huycke
Westridge Resources Investor Relations
647-258-3311
416-363-7977 (Fax)
info@westridgeresources.com
ON BEHALF OF THE BOARD
"Peter Schulhof"
Peter Schulhof
President
Neither TSX Venture Exchange nor its Regulations 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.
In compliance with National Instrument 43-101, John Dreier, P. Geo., is the Qualified
Person responsible for the accuracy of this news release.
Forward Looking Statements
Statements contained in this news release that are not
historical facts constitute "forward-looking statements" or
"forward-looking information" within the meaning of applicable
securities laws and are based on expectations, estimates and
projections as of the date of this release. Forward-looking
statements include, without limitation, possible events, statements
with respect to possible events, the future price of gold and other
commodities, the realization of mineral resource estimates and
success of exploration activities. The words "is expected" or
"estimates" or variations of such words and phrases or statements
that certain actions, events or results "may" or "could" occur and
similar expressions identify forward-looking statements.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by the
Company as of the date of such statements, are inherently subject
to significant business, economic and competitive uncertainties and
contingencies. Known and unknown factors could cause actual results
to differ materially from those projected in the forward-looking
statements. Such factors include, but are not limited to:
fluctuations in the spot and forward price of gold or certain other
commodities; changes in national and local government legislation,
taxation, controls, regulations and political or economic
developments in Canada ; business
opportunities that may be presented to, or pursued by, the Company;
operating or technical difficulties in connection with mining
activities; the speculative nature of gold exploration and
development, including the risks of obtaining necessary licenses
and permits; diminishing quantities or grades of reserves; and
contests over title to properties, particularly title to
undeveloped properties. In addition, there are risks and hazards
associated with the business of gold exploration, development and
mining, including environmental hazards, industrial accidents,
unusual or unexpected formations, pressures, cave-ins, flooding and
gold bullion losses (and the risk of inadequate insurance, or the
inability to obtain insurance, to cover these risks). Many of these
uncertainties and contingencies can affect the Company's actual
results and could cause actual results to differ materially from
those expressed or implied in any forward-looking statements made
by, or on behalf of, the Company. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Forward-looking statements are
provided for the purpose of providing information about
management's expectations and plans relating to the future. All of
the forward-looking statements made in this release are qualified
by these cautionary statements and those made in our other filings
with the securities regulators in Canada . These factors are not intended to
represent a complete list of the factors that could affect the
Company. Although the Company believes that the expectations in the
forward-looking statements are reasonable, actual results may vary,
and future results, levels of activity, performance or achievements
cannot be guaranteed.
SOURCE Westridge Resources Inc.