Vancouver, BC – October 19, 2021 – Wedgemount Resources Corp. (CSE: WDGY) (“Wedgemount” or the “Company”), is pleased to announce that it has commenced an Induced Polarization (IP) survey 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.
The program will include up to 22.0 line kilometres of ground IP survey focused on the 3.5 kilometre Nighthawk-Mid-Vector copper-gold mineralized trend.
Mark Vanry, President and CEO of Wedgemount commented, “We are aggressively following up on the initial assay results from the Eagle Phase One exploration program (see August 4, 2021 news release). Grab rock sample results such 9.86 % copper, 2.5 grams per tonne (g/t) gold and 77.7 g/t silver from the Nighthawk zone clearly demonstrate the porphyry-related, copper–gold potential of the Nighthawk to Vector corridor which will be the focus of the Phase Two IP Program.”
A total of 11 survey lines averaging 2.0 line kilometres in length, at a line spacing of 400 metres, are planned for a total survey length of 22.0 line kilometres. The program is scheduled to be completed by the end of October.
Figure 1: Planned Induced Polarization (IP) survey coverage over priority areas.
2021 Exploration Program Update
The overall goal of the 2021 exploration 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. A thorough review of all compiled recent and historical exploration data resulted in the identification of other high-priority targets which were ranked and prioritised.
The first phase of the 2021 exploration program was initiated to brush out 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).
The geochemical results from Phase One (see August 4, 2021 news release) will be integrated with the IP results to assist with development of priority drill targets. Based on a thorough assessment of all exploration data, a decision will be made whether to commence with drill testing.
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).
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. 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
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.