Vancouver, BC – September 15, 2021 – Wedgemount Resources Corp. (CSE: WDGY) (“Wedgemount” or the “Company”), is pleased to announce that it has commenced its 2021 field exploration program at the Company’s Friendly Lake copper-gold property (“Friendly” or the “Project”) in south-central British Columbia. Friendly becomes Wedgemount’s third copper focused exploration program of the 2021 exploration season.
Mark Vanry, President and CEO of Wedgemount commented, “We are excited to commence our first exploration program at the Friendly copper–gold project. The mobilization marks our third exploration program of what has been an extremely busy 2021 season for the Company. The program will be the first significant exploration on the project since 2004 and will include mapping, sampling and IP geophysics with the goal of defining priority drill targets. Friendly’s location in southern B.C. allows for a longer and lower cost exploration season. Access and logistics for the Project are excellent with a multitude of logging roads, ATV trails and lodges in the area.”
The year-round, road accessible, 13,000-hectare Friendly property is approximately 100 kilometers north of Kamloops, a community with a rich mining and development history. New Gold Inc.’s New Afton copper-gold mine is 100 kilometers to the south of Friendly and Imperial Metals Corporation’s Mount Polly copper-gold mine is 130 kilometers to the northwest. Previous exploration on the Project, dating back to the 1960’s, has included geological mapping, extensive soil and rock-chip sampling, trenching, geochemical surveys and ground-based geophysics, however, only limited shallow drilling.
The Project is underlain by arc-related volcanic and volcaniclastic rocks of the Quesnel Terrane (Nicola Group) cut by Triassic-Jurassic intrusions varying from syenite to diorite with associated porphyry and skarn-related copper and gold mineralization. The Project comprises two key target areas; Friendly Lake and Deer Lake.
The BOGG occurrence, central to the Friendly Lake target, comprises local zones of chalcopyrite-bornite cemented magmatic breccias associated with the margins of a northwest-elongated monzodiorite to syenite intrusive complex (Friendly Lake complex). A grab sample from the BOGG occurrence by the B.C. Geological Survey yielded 3.4% copper (Schiarizza and Israel, 2001). The BOGG occurrence forms the northwest extent of an approximately 7 kilometer northwest-trending corridor of widespread copper and multi-element soil geochemical anomalies locally coincident with complex IP (induced polarization) chargeability anomalies defined by previous surveys. Based on a preliminary compilation of historic drill data, only six drill holes with depths greater than 200 meters have tested for porphyry-related copper and gold mineralization along this prospective 7 kilometer corridor.
The Deer Lake target comprises numerous magnetite-chalcopyrite skarn occurrences (e.g., Lakeview) associated with the Deer Lake diorite. Historic work has defined multiple poorly tested, multi-element soil and rock geochemical and coincident geophysical anomalies (Gruenwald, 2010) considered high priority areas for detailed investigation.
The 2021 field program will consist of prospecting, geological mapping and geochemical sampling to be conducted over a 2-week period. It is anticipated there will be a number of rock samples, soil samples, and alteration chip samples taken with the primary purpose to gain an understanding of the mineralization on the property. Field work will include inspection of known areas of mineralization to further define their type, size, and potential; resample historic sample locations to validate historic assay data; locate, inspect, and ground truth previous IP anomalies, and inspect access roads, stream locations, and laydown areas for a planned IP survey and potential fall drill program. The main focus will be the northwest trending linear corridor between the RO and BOGG showings on the Friendly Lake target area where approximately 45 line kilometres of IP is planned subsequent to the completion of the field program. Approximately 20 line kilometres of IP is planned for the secondary target area at Deer Lake; centered on a large diorite intrusive with peripheral skarn-related copper showings.
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 Project. 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.
Gruenwald, W., 2010, Diamond drilling assessment report on the Deer Lake Property Little Fort, British Columbia, Assessment Report 31299, Assessment Report Indexing System, aris.empr.gov.bc.ca, 62 p.
Schiarizza, P., and Israel, S., 2001, Geology and mineral occurrences of the Nehalliston Plateau, south-central British Columbia (92P/7, 8, 9, 10), Ministry of Energy and Mines, Paper 2001-1, pp. 1-30.
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
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.
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