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ANNOUNCES ADDITIONAL DRILL RESULTS FROM THE LAPON CANYON GOLD PROJECT

 

Gold drill core

Walker River Resources Corp. (WRR.V) has released drill results from the late 2018 reverse circulation drill program on the Lapon Canyon gold project, located approximately 60 kilometres southeast of Yerington, Nev.

RC drill hole LC18-28 returned 10.23 g/t Au (uncut) over 19.9 metres including 78.1 g/t over 1.5 metres at a depth of 50.3 metres and 221 g/t over 1.5 metres at a depth of 57.9 metres. RC drill hole LC18-30 returned 93.5 g/t Au over 1.5 metres at a depth of 42.7 metres.

Key Highlights:

  • To date, mineralization has been discovered in a broad, altered, fractured and brecciated NE trending structural zone termed the Lapon Rose Zone. Anomalous gold values are denoted in many areas within this zone, and significant higher-grade mineralization over significant widths is located within sub vertical en echelon zones of intense alteration and gold enrichment.
  • Walker's initial geological mapping and prospecting on the Project followed by its drill programs has demonstrated the potential for the emplacement of significant gold mineralization.
  • The 2018 drilling focused on infill and expansion drilling at the Lapon Rose zone, as well as exploration and drilling new targets including other fault alteration zones, which in some instances show evidence of previous workings.
  • Significantly in Hole LC18-30, drilling intersected 93.5 g/t Au immediately prior to encountering old mine workings. These workings were intersected over 9.1 metres at a depth of 44.2 metres. This continues to verify historical data of the positioning of previously reported workings, in presently inaccessible mined out areas.
  • Consistently, since the start up of drilling on the project, all holes drilled within the Lapon Rose zone returned gold values with the majority (80%) returning significant grades and widths in en echelon zones of gold enrichment.
Assay Table: Summary of Drill Results:

Hole    Alt.(m)From(m)To(m)Length**(m)Assay   (Au g/t)uncut        cut*Notes:           
LC 18-282630   0      33.5 33.5       1.05                             Lapon Rose       
               33.5   53.4 19.9       10.23         7.61               Lapon Rose       
incl           36.6   38.1 1.5        18.3                             Lapon Rose       
incl           50.3   51.8 1.5        78.1          34.28              Lapon Rose       
               57.9   60.9 3          111.27        17.9               Lapon Rose       
incl           57.9   59.4 1.5        221           34.28              Lapon Rose       
                                                                                        
LC 18-302630   15.2   30.4 15.2       1.02                             Lapon Rose       
               42.7   44.2 1.5        93.5         34.28               Lapon Rose       
               44.2   53.3 9.1        No Samples                       Old mine workings

*Grade cut to 34 g/t

**True widths approx. 80%

The Lapon Rose Zone has now been drilled over a strike length of some 365 metres. The width of the zone exceeds 150 metres, and the zone has been drilled over a vertical extent of 400 metres. The zone remains open along strike and depth.

The 2018 drill program was designed to expand gold mineralized zones discovered by the Company, to discover and delineate new gold mineralized zones. Further results from the 2018 drill program are expected to be released shortly.

Michel David, President states: "We are very excited and encouraged by the continuation of the results from the Lapon Canyon Project. Most of the holes drilled in the Lapon Rose zone have returned significant gold grades and widths. We have also extended the strike length and width of the gold mineralization in Lapon Rose and have also shown that the gold mineralization is present over 400 vertical metres. The zone is also open at depth and strike." Mr. David continues: "We are very encouraged by higher grade gold values in the zones but are also very encouraged by the presence of lower grade mineralization and anomalous gold present pervasively throughout the alteration fault zone and enveloping the higher grades."

About the Lapon Project

The Lapon Project consists of 96 claims (1,940 acres) situated in the Wassuk Range, easily accessible by secondary state roads from the main highway (25 kilometres). A state grid power transmission line passes within three kilometres of the Lapon Project. The Lapon Project is located within the Walker Lane shear zone, a 100-kilometre-wide structural corridor extending in a southeast direction from Reno, Nevada. Within this trend, numerous gold, silver, and copper mines are located, notably the historic Comstock Lode mines in Virginia City. Also, the past producing Esmeralda/Aurora gold mine, with reported production of some one million ounces and the Anaconda open pit copper mine in Yerington, Nevada.

The Lapon Project is cut by a series of steeply dipping cross fault structures cutting across the Walker trend, analogous to other cross fault structures responsible for many gold and base metal deposits in the world. These faults are heavily sheared and altered (sericite, iron oxides) with abundant silica, varying in width from 60 to 300 metres. Four of these structures have been discovered at Lapon, and at least two can be traced for over four kilometres.

Small-scale high-grade mining began on the project in 1914. Approximately 600 metres of drifts and raises were developed from two adits and a two-stamp mill was built. Further underground work was carried out, returning numerous assay values in the range of one ounce per ton, with a sample at the end of an adit returning 20.6 ounces per ton. (National Instrument 43-101, Montgomery and Barr, 2004). Additional work on the Project in the following years, included the installation of a ball mill and milling facilities.