Drilling begins...
FOR: WESTERN PACIFIC GOLD INC.
ASE SYMBOL: WPI
OTC Bulletin Board SYMBOL: WPGIF
AUGUST 12, 1997
Western Pacific Gold Drilling Program to Commence on Ofi
Creek, Papua New Guinea
EDMONTON, ALBERTA--Mr.Nicholas Mather, President of Western
Pacific Gold Inc. ("WPI") is pleased to announce that, through
WPI's wholly owned subsidiary Magma Mines N.L., a 2000m diamond
core drilling program will commence immediately on EL1014 Ofi
Creek copper/gold project in Papua New Guinea. The drilling will
be comprised of eight to ten 300-400m holes designed to test
extensions of the copper-gold orebody delineated by earlier BHP
Minerals drilling. Ofi Creek is presently estimated to contain 85
mt of mineralization, grading 0.6 g/t gold and 0.4 percent copper.
WPI can earn through Magma, 51 percent in the project by
expending $2,000,000 by August 1999 and may increase its interest
to 80 percent pursuant to the Earn-in agreement with BHP Minerals.
Re-interpretation of previous BHP drill holes and ground magnetic
data has suggested that the main copper mineralized zone may
extend to the southwest and is flanked by a sub parallel gold
enriched zone immediately to the north. Drilling will concentrate
on evaluating the strike extent of the high-grade zone and
subsidiary gold enriched zones which if confirmed have the
potential to significantly increase the known resources.
Hole BND008 will be sited between BHP holes BND001 and BND004
which both returned wide copper-gold intercepts (BDN004: 401m @
0.56 g/t gold & 0.51 percent copper; BND001: 235m @ 0.474 g/t gold
& 0.306 percent copper). BND008 will be drilled to 400m depth at
70 degrees to the south-east to test this previously discovered
mineralisation at depth and to test for the northwestern limit of
the orebody. The second 400m hole BND009 will be drilled to the
south of BHP hole BND003 (198m@ 0.96 g/t gold & 0.306 percent
copper) to test possible extensions of the ore to the south-west.
Additional holes will be drilled between BND003 and BND004, and
subsequently to test surface gold copper mineralization
immediately to the north-west of BND003.
Further regional work will be undertaken following a
re-interpretation of previous BHP aeromagnetic and ground
geochemistry results which suggest that the entire periphery of
the Bavu Magnetic Complex measuring approximately 7.5 X 2.5 km may
be prospective for gold and copper mineralisation.
WPI has retained Mr. Mark Green, an experienced Southwest Pacific
field manager, to establish and oversee the drilling program at
Ofi Creek porphyry copper/gold prospect. Mr. Green, a native of
Canada, has extensive mining industry experience supervising field
programs and operations at mine sites in the Pacific Rim and is in
charge of logistics and landowner relations on the Ofi Creek
project. Currently the existing BHP camp has been upgraded and is
facilitating WPI's exploration and drilling team.
This announcement has been approved by the Board of WPI and
prepared by Mr. Nicholas Mather, a member of the Australian
Institute of Mining and Metallurgy, with 15 years experience in
exploration and management.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Western Pacific Gold Inc.
Mr. Don Caron
Vice President, Canadian Office
(403) 496-9171
or
Western Pacific Gold Inc.
Mr. Nicholas Mather
President, Australian Office
(617) 3229 4766 |
