Western Copper Holdings Limited-Diamond Drilling Expands Silver Potential at Penasquito
VANCOUVER, BRITISH COLUMBIA--Western Copper Holdings Limited ("Western") today announced assay results from the last eight of fifteen core holes (6906 meters total) drilled at its 100%-owned Penasquito silver-gold-lead-zinc property in the Concepcion del Oro district of Zacatecas State, Mexico. Drilling has confirmed that Chile Colorado is a continuously mineralized zone covering 500 meters in an east-west direction by 350 meters in a north -south direction and remains open to the west, southwest, east and northeast. Significant mineralized intervals in holes WC-23 and WC-24 have substantially expanded the tonnage potential to the east and northeast along the southern and eastern margins of the Azul breccia and within the Azul breccia as well.
Kilborn/SNC Lavalin has been commissioned to produce a geologic resource calculation with a report to be delivered in August. Diamond drilling will resume in August consisting of a 7,000 -meter program designed to delineate the extent of mineralization to the southwest and northeast.
Drilling highlights and principal conclusions are:
* Holes WC-23 and 24 have substantially expanded the tonnage potential of the Chile Colorado/Azul breccia zone. The potential target within and along the margin of the Azul breccia extends for over 1,000 meters northward from the Chile Colorado deposit.
* Chile Colorado is a continuously mineralized zone covering 500 meters in an east-west direction and 350 meters in a north-south direction; the zone remains open to the west, southwest, east and northeast.
* Higher- grade mineralization is associated with three principal sets of vertical to steeply north-dipping sulphide veins/breccia dikes. Diamond drilling has demonstrated that these veins/dikes have good lateral and vertical continuity.
* The Azul breccia is a diatreme with surface dimensions of 600 meters in a northeast- southwest direction and 500 meters in a northwest- southeast direction. Strong mineralization in hole WC-24 extends to a vertical depth of at least 600 meters in a zone in excess of 125 meters thick along the breccia margin. The interior of the pipe is also mineralized; additional drilling will be required to determine grades and continuity.
* The Azul breccia and its outer margin are deeply oxidized, in places to depths of more than 100 meters. Potential exists to develop a significant tonnage of oxide gold and silver mineralization that may be amenable to recovery by low cost heap leaching.
Assay results for holes WC-17 through WC-24 are summarized in the Table below with all hole locations in the Chile Colorado zone shown on the attached map. Assays for all holes, as well as a map of the entire area around the Azul breccia, including hole WC-24, can be viewed on Western's website at (www.westerncopper.com).
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