Vancouver, BC – August 4, 2021 – Wedgemount Resources Corp. (CSE: WDGY) (“Wedgemount” or the “Company”), is pleased to announce initial assay results from its 2021 exploration program at the Company’s road accessible Eagle copper-gold project, located in the highly prospective Quesnel trough copper-gold porphyry belt of central British Columbia.  

Mark Vanry, President & CEO of Wedgemount commented, “We are extremely excited to receive initial assay results from the recently completed Eagle exploration program. The results confirm historical sampling at the three main zones and extend the strike length of all three zones. We also have highly anomalous samples from east and southeast of the Nighthawk Zone which open up new areas for further investigation including a planned high resolution IP survey. We look forward to receipt of additional sample results as they become available”.

Highlights

  • Assay results from over 50 rocks samples collected over a 3.5 kilometre trend have been returned.
  • Sampled up to 9.86 % copper, 2.5 grams per tonne (g/t) gold and 77.7 g/t silver from the Nighthawk zone and up to 1.63 % copper and 1.24 g/t gold from the Vector zone.
  • Results demonstrate the porphyry-related, high-grade copper potential of the Nighthawk to Vector corridor which will be the focus of further exploration.

Assay Results

Results have now been received from 51 rock samples collected during the Company’s Phase 1 exploration program at the Eagle copper-gold project (see news release dated June 17th, 2021). Sampling was focussed at the three main zones (e.g., Nighthawk, Vector and Mid; Figure 1) to verify mineralization style and grade and to expand known mineralization footprints as well as other high priority targets that display coincident soil geochemical and ground and/or airborne geophysical anomalism. A total of 43 rock samples returned copper concentrations in excess of 1,000 ppm (0.1% copper) and 12 samples exceeded the level of detection for ICP analysis and were rerun using ore grade copper analysis. These 12 samples returned results ranging from 1.26% copper to the highest at 9.86% copper (Table 1)

Gold and silver results were anomalous for every anomalous copper result; averaging 0.292 g/t gold and 8.23 g/t silver for copper results in excess of 1,000 ppm and 0.725 g/t gold and 20.0 g/t silver for copper concentrations in excess of 1%. The best copper-gold-silver result was sample D702202 which returned 9.86% copper, 2.5 g/t gold and 77.7 g/t silver. The sample was taken from a 20 X 20 metre gossanous outcrop bearing strong deformation and structurally controlled copper mineralization with up to 10 % visible chalcopyrite in a weakly magnetic diorite to gabbroic intrusion. The sample is located at the Nighthawk showing and is one of many samples collected over a 800 m2 area, which returned highly anomalous copper-gold values including sample D702210 (7.95 % copper and 1.59 g/t gold) and D702206 (4.42 % copper and 1.30 g/t gold; Table 1). 

Table 1. Significant Results – 2021 Eagle Rock Sample

ZoneSampleIDSample TypeAu (g/t)Ag (g/t)Cu (%)Sample Comments
NighthawkD702202GRAB2.5077.709.86Gossanous 20x20m outcrop showing strong deformation and structurally controlled Cu mineralization
NighthawkD702010GRAB1.5932.307.95Mineralized pods of semi-massive chalcopyrite in chlorite-epidote altered diorite.
NighthawkD702206GRAB1.3017.754.42Sheared quartz-carbonate veins within chalcopyrite-bearing monzodiorite.
SE of NighthawkD702004GRAB0.4524.402.24Rusty, quartz-carbonate vein with chalcopyrite in potassic-altered diorite.
VectorD702212GRAB0.2515.852.17Strong magnetite-pyrite-chalcopyrite mineralization in pervasive potassic-altered monzodiorite.
SE of NighthawkD702216GRAB0.1819.052.15Sheared, gossanous diorite with chalcopyrite-malachite and potassic alteration. 
MidD702001GRAB0.038.061.91Gossanous semi-massive zone with 2-5% chalcopyrite in strongly magnetite-epidote altered diorite.
VectorD702009GRAB0.1612.851.9Main gossanous breccia structure hosts pods of semi-massive magnetite and chalcopyrite in potassic-chlorite altered diorite.
VectorD702114GRAB1.2410.501.63Monzodiorite with pervasive magnetite and patchy potassic alteration with chalcopyrite, pyrite and malachite.
NighthawkD702201GRAB0.488.541.53~20x20m outcrop showing strong deformation and structurally controlled Cu mineralization with sulphides up to 10% chalcopyrite hosted in gabbro.
East of NighthawkD702012GRAB0.195.901.39Mineralized, brecciated calcite-cemented shear with lenses of massive chalcopyrite.
SE of NighthawkD702218GRAB0.347.051.26Stockwork shear bearing chalcopyrite-malachite-pyrite in diorite.
Diagram

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Figure 1. Map showing location of 2021 grab samples and main porphyry-related copper + gold exploration targets on the Eagle project. 

2021 Exploration Program Update

The primary focus of the first phase of the 2021 exploration program was to first open old exploration trails for improved access followed by targeted geological mapping and geochemical sampling of the main zones of known porphyry-related copper and gold mineralization (e.g., Nighthawk, Vector and Mid). Based on a thorough review of all compiled recent and historical exploration data, other high-priority targets were defined and prioritised. The overall goal of the program is to improve the understanding of mineralization and alteration styles of the main zones and to define new vectors to aid in drill hole targeting.

Geochemical results from multiple, confirmation soil samples collected along lines over key target areas are pending. A deep penetrating induced polarization (IP) geophysical survey is also tentatively scheduled to commence in August followed by additional geological mapping and sampling. Based on these new data, drill targeting will be completed and a decision will be made to commence with drill testing. 

Eagle Project

The road accessible, 2,530 hectare project is situated in the heart of BC’s prolific Quesnel trough copper-gold porphyry belt mid-way between the Mt. Milligan copper-gold mine of Centerra Gold and the Kwanika copper-gold development project of Northwest Copper. The Property is underlain by the Late Triassic to Early Cretaceous Hogem Intrusive Suite, a large, regional batholith comprised of alkaline and calc-alkaline plutons that have been emplaced into the Middle Triassic to Lower Jurassic Takla Group volcanic rocks and sedimentary sequences. Historical work from the late-1960s to the early 2000’s, including geological mapping, geophysical and geochemical surveys and limited drilling have outlined three main porphyry-related copper-gold targets. The discrete zones identified on the Eagle property to-date are hosted within a broad, northwest-trending, 3.5 km long structural corridor of copper-gold mineralization and widespread anomalous copper in soils. The Eagle project is subject to an earn-in agreement with ArcWest Exploration Inc (see AWX news release dated October 5th, 2020).

QA/QC

Rigorous field procedures were followed to ensure QA/QC measures, including routinely inserting Certified Reference Materials including an appropriate copper-gold reference and a blank reference. All samples were shipped to the ALS preparatory lab in Kamloops, BC, after which the prepared samples were shipped to the ALS analytical lab in North Vancouver, BC for final processing. 

Preparation: The preparation of rock samples was completed whereby samples were fine crushed to 70% passing 2mm (CRU-31) followed by taking a split sample using a riffle splitter (SPL-21) followed by pulverizing of the 250g split to 85% passing 75 microns (PUL-31).

Analysis: geochemical analysis of all samples utilized the 4-acid digestion followed by ultra-trace 48-element ICP-MS package (ME-MS61). The quantified multi-element concentrations are then reported by their respective unit. The detection range for copper was 0.2-10,000 ppm. The detection range for silver was 0.01-100 ppm. Gold was analyzed using fire assay with AA finish (Au-AA23). The detection limit for gold was 0.005. Overlimit copper results (>10,000) were further analyzed by 4-acid ore grade detection using ICP-AES (Cu-OG62). 

ALS Labs also applied their own internal QA/QC procedures by systematically inserting standards, blanks and duplicates into sample batches. Lab results were evaluated to ensure they passed the internal requirements prior to release of the final test reports.

Data Verification and National Instrument 43-101 Disclosure 

Some data disclosed in this news release relating to sampling and drilling results are historical in nature. Neither the Company nor a Qualified Person, as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), have verified the data, and, therefore, investors should not place undue reliance on such data. In some cases, the data may be unverifiable due to lack of drill core. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company’s property. Grab samples are selective in nature and the resultant assays may not be representative of all mineralization on the property. The technical information disclosed in this news release has been reviewed and approved by Ken MacDonald, P.Geo., a Qualified Person as defined by NI 43-101.

About Wedgemount Resources Corp.

Wedgemount Resources is a junior mineral exploration company focused on maximizing shareholder value through the acquisition, discovery and advancement of high-quality copper – gold projects in North America.  

On behalf of the Board of Directors,

WEDGEMOUNT RESOURCES CORP.

Mark Vanry, President and CEO

For more information, please contact the Company at:

Telephone:  (604) 343-4743 

info@wedgemountresources.com

www.wedgemountresources.com 

Reader Advisory

This news release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Forward looking statements made in this news release include the Company’s plans for exploration of the property and anticipated exploration results. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, availability of funds, personnel and other resources necessary to conduct exploration programs,  successes of the Company’s exploration programs, availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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