Wescan completes airborne geophysical survey on Hudson Bay coal permits
* Press Release
* Source: Wescan Goldfields Inc.
* On Monday July 13, 2009, 9:00 am EDT
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Stock Symbol: WGF: TSX-V
SASKATOON, July 13 /CNW/ - Wescan Goldfields Inc. ("Wescan" or the "Company") is pleased to announce the Company has completed a 2,000 line-kilometre GEOTEM Electromagnetic Magnetic airborne geophysical survey over its highly prospective Hudson Bay, Saskatchewan coal permits. The survey was flown over the Company's extensive northern block located north and east of the Pasquia Hills as well as over the Company's southern blocks, located south of the Goldsource Mines Inc. and Westcore Energy Ltd.'s coal permits. Wescan's northern block and southern blocks are contained within the northwest and southeast extensions of the "Durango Coal Trend", a zone of similar geology containing geophysical signatures indicative of settings conducive to coal deposition with coal intersections that range up to 100 metres in vertical thickness.
Fugro Airborne Surveys is currently completing their specialized geophysical processing and interpretation on the GEOTEM Electromagnetic Magnetic data to identify all potential coal bearing basins on Wescan's coal permits. Once the interpretation is complete, drilling locations will be targeted and a summer drill program will commence.
Vice President of Exploration, Kirsten Marcia, Professional Geoscientist in the Province of Saskatchewan, is Wescan's Qualified Person responsible for the design and execution of the program.
Wescan is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of Wescan trade on the TSX Venture Exchange under the trading symbol "WGF".
"Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release."
Caution Regarding Forward-looking Information
From time to time, Wescan makes written or oral forward-looking statements within the meaning of certain securities laws, including the "safe harbour" provisions of the Ontario Securities Act. Wescan may make such statements in this MD&A, in other filings with Canadian regulators, in reports to shareholders or in other communications. These forward-looking statements include, among others, statements with respect to Wescan's objectives for the ensuing year, our medium and long-term goals, and strategies to achieve those objectives and goals, as well as statements with respect to our beliefs, plans, objectives, expectations, anticipations, estimates and intentions. The words "may," "could," "should," "would," "suspect," "outlook," "believe," "plan," "anticipate," "estimate," "expect," "intend," and words and expressions of similar import are intended to identify forward-looking statements. In particular, statements regarding Wescan's future operations, future exploration and development activities or other development plans contain forward-looking statements.
All forward-looking statements and information are based on Wescan's current beliefs as well as assumptions made by and information currently available to Wescan concerning anticipated financial performance, business prospects, strategies, regulatory developments, development plans, exploration, development and mining activities and commitments. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, developments in world gold markets, risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar, changes in exploration, development or mining plans due to exploration results and changing budget priorities of Wescan or its joint venture partners; the effects of competition in the markets in which Wescan operates; the impact of changes in the laws and regulations regulating mining exploration and development; judicial or regulatory judgments and legal proceedings; operational and infrastructure risks and the additional risks described in Wescan's most recently filed annual and interim MD&A and Wescan's anticipation of and success in managing the foregoing risks.
Wescan cautions that the foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to Wescan, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Unless otherwise required by applicable securities laws, Wescan does not undertake to update any written forward-looking statement that may be made from time to time by Wescan or on our behalf.
For further information
Darren Anderson, President or Kirsten Marcia, Vice President of Exploration at (306) 664-2422 |
