White Pine Resources Exploration Update
posted on
Sep 17, 2010 09:10AM
Aggressive program in a highly prospective portion of the "Ring of Fire" mineralized zone.
Press Release Source: White Pine Resources Inc. On Thursday September 16, 2010, 12:51 pm EDT
TORONTO, ONTARIO--(Marketwire - Sept. 16, 2010) - White Pine Resources Inc. (TSX VENTURE:WPR - News), is pleased to provide an exploration update on it's MZ Property located in the Boston Creek gold mining district, located south of Kirkland Lake. Nine diamond drill holes were recently completed totalling 1,394m covering various IP anomalies outlined during a winter geophysical survey. Results of the diamond drilling are tabled below:
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Drilled
Hole No. UTM N UTM E AZI DIP Au g/t Interval From To
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MZ10-1 5317820 586095 90 -45 2.00 0.6 142.8 143.4
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MZ10-2A 5317812 586264 270 -45 NSA
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MZ10-3 5318185 586804 300 -45 1.28 0.7 97.1 97.8
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MZ10-4 5318345 586844 300 -45 1.66 1.5 93.5 95.0
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0.34 8.1 220.9 229.0
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MZ10-5 5318405 586771 300 -45 0.98 7.5 156.0 163.5
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MZ10-6 5318384 586668 315 -45 0.89 4.5 34.5 39.0
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MZ10-7 5318347 586614 300 -45 0.55 3.0 27.0 30.0
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MZ10-8 5318521 586574 320 -45 NSA
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MZ10-9 5317727 586071 270 -65 1.75 1.4 43.6 45.0
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NSA (No significant assays)
The 'MZ Property' consisting of 608 hectares was acquired from two local prospectors for considerations of cash and shares. White Pine has the option to earn 100% of the property through exploration expenditures over a 4 year period. A 2% NSR has been retained by the prospectors with the option of 1% being purchased by White Pine for $1 million.
The Boston Creek gold mining district has had sporadic gold production from 5 gold mines dating back to 1918. The 'MZ Property' lies adjacent to and in between two former producers, the Cathroy-Larder Mine and the Gold Hill Mine. The Cathroy-Larder Mine, now owned by Mirado Nickel, has extensive underground workings to the 500 vertical foot level and has had open pit production in the past.
"The initial drilling program on the MZ Property intersected wide intervals of silification and carbonatization associated with disseminated pyrite. We are encouraged by the initial phase of drilling and results received to date," states Mike Kilbourne, P.Geo and President of White Pine Resources. Additional work is anticipated for 2011.
On-site Quality Assurance/Quality Control Measures
All samples have been shipped to ACTLABS preparation laboratory in Timmins, Ontario, with analyses performed in the ACTLABS laboratory in Thunder Bay, Ontario. All core samples were selected by Mike Kilbourne, P.Geo., site geologist, and were cut in half by diamond core saw. Individual samples were labelled, placed in plastic sample bags and sealed. Groups of samples were then placed into durable rice bags, sealed and placed in sealed plastic pails for shipping. The remaining coarse reject portions of the samples remain in storage at the ACTLABS preparation laboratory storage facility in Timmins as required in the event that further work is needed.
Independent Quality Assurance and Quality Control Protocol
A QA/QC program has been implemented to monitor all assays from the current drilling program. Samples are assembled in numbered batches of 35 samples. Included in each batch of 35 samples are two certified reference standards, two laboratory duplicates, one blank sample comprised of sterile core and one core duplicate sample. This QC program was set up for White Pine Resources by Tracy Armstrong, P. Geo, of T.J. Armstrong Geological Consulting Inc. Ms. Armstrong is a qualified geologist in the Provinces of Ontario, Quebec and British Columbia.
Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Westchester, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of resource and reserve estimates, currency fluctuations, dependence upon regulatory approvals and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Shares Outstanding: 23,342,659
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.
Contact:
John Tait
White Pine Resources Inc.
Chief Executive Officer
(416) 628-5905
(416) 628-5911 (FAX)
jtait@347bay.com
www.wprres.com