Vancouver, BC – December 9, 2021 – Wedgemount Resources Corp. (CSE: WDGY) (“Wedgemount” or the “Company”), is pleased to announce preliminary results from its first 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 IP survey included 20.5 line kilometres covering an area of approximately 8.75 km2; focused on the 3.5 kilometre long Nighthawk-Mid-Vector copper-gold mineralized trend.
- A new coincident high-chargeability and high-resistivity anomaly was discovered east of the historic Vector Zone, which is coincident with anomalous copper in soils – this area represents a new exploration target located nearly 500 metres east of historical drilling.
- A second zone of high-chargeability was identified between the Mid and Nighthawk zones with a coincident magnetic low, and could represent an untested porphyry target.
- A southeastern IP line, which tested the core of the Nighthawk Zone, shows an intense chargeability anomaly that increases in size with depth. From the IP survey it’s now apparent that historic drilling at Nighthawk (DDH EA-91-06 which returned up to 27.3 metres of 0.87 % copper and 0.32 grams per tonne (g/t) gold) tested only a narrow near-surface chargeability anomaly.
Mark Vanry, President & CEO of Wedgemount commented, “The survey results clearly correlate chargeability and resistivity features with known zones of mineralization and alteration in the area of historical drilling. The survey data displays a wider distribution of chargeability/resistivity features beyond the confines of historical work with considerable strike continuity. The presence of multiple new untested geophysical targets and potentially a deeper target at the Nighthawk zone is highly encouraging. Wedgemount will now work on integrating the IP results into its geological and geochemical surveys in order to best define drill targets for the near future.”
The geophysical field program was carried out in late October 2021 under snow free conditions. A total of 20.5 line km of pole-dipole survey was completed on 9 lines evenly spaced 400 metres apart. The survey covered an area that measures approximately 8.75 km2.
Figure 1: Completed IP survey coverage over priority areas.
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 5, 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.
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