Winston Gold to commence next drill program in Montana
WINNIPEG, MANITOBA – August 23, 2017 – Winston Gold Mining Corp. (“Winston Gold” or the “Corporation”) (CSE: WGC) (OTCQB: WGMCF) is pleased to announce it plans to drill nine holes into three vein systems from two drill pads on the Company’s wholly-owned Winston Gold Property, near Helena Montana.
“The primary goal of this new program will be to determine the best place to position an exploration decline,” commented Murray Nye, CEO and Director of Winston Gold Mining. “Three separate vein systems outlined in earlier drill programs appear to trend parallel to one another and all seem to be dipping towards the north. Our goal is to position an exploration decline so we can easily and economically access all three of these structures for additional underground exploration and bulk sampling.”
According to historic records, the past producing Upper Hyantha workings were mined along a 270 ft. (82.3 metre) strike length and ended abruptly. Winston intends to drill one hole (towards the south) from the hanging wall side of the vein to test if the Upper Hyantha Vein extends further to the west, beyond the old workings. Please refer to attached drill plan map.
The second target is the Block 93 Vein. A total of two holes will be drilled towards the north through the foot wall side of this vein to determine if mineralization extends towards the east. So far, the Block 93 Vein has been drilled over a strike length of 246 ft. (75 metres) and has a drill tested vertical extent of 192 ft (58.5 metres). If successful, these holes could extend the Block 93 vein and additional 100 ft. (44.2 metres to the east). Refer to attached Drill Plan Map.
Another two holes will be drilled from a second drill pad, located further to the east and at a higher elevation than the first. These two holes will be drilled towards the South into the hanging wall of the Block 93 vein system. If successful, these holes could add another 120 ft. (16.7 metres) of strike length to the Block 93 vein.
As a bonus, these four holes would also test the continuity of a newly discovered vein that was identified in the previous drilling campaign. This currently unnamed vein was intersected in hole W66 in the hanging wall of the Block 93 vein at a down-hole depth of 311 ft. (94.8 metres), (previously announced in a March 28th 2017 news release). This hole intersected a 4 ft. (1.22 metres) interval averaging 0.223 opt (7.65 g/t) gold. This included a 1 ft. (0.3 metre) section that averaged 0.773 opt (26.5 g/t) gold and 2.85 opt (97.71 g/t) silver. This interval is located only about 32 ft. (9.7 metres) further down-hole from where the Block 93 vein was intersected.
Two holes will be drilled from this same pad with the goal of testing the eastern extent of the Parallel Vein which is located north of the Block 93 vein (refer to drill plan map). These holes represent a 145 ft. (39.6 metre) step-out east of the last drill intercept of the Parallel Vein. If successful it would increase the strike length of this vein to 315 ft. (91.4 metres) and to a vertical extent of about 240 ft. (30.5 metres).
Lastly, one hole will be drilled from a third pad west of the previous two. This hole will test the western extents of both the Parallel and Block 93 veins, and their projected intersection at depth. This hole, if successful, would extend Block 93 45 feet, and Parallel 145 feet to the west.
The Winston Gold Project is central to a historic precious and base metal mining district in which most of the ore was mined from tightly structurally controlled high angle fissure veins and lode/replacement zones. Reports indicate that more than 100,000 ounces of gold was recovered from these underground mines in the late 19th to early 20th century from about 150,000 tons of ore. (Earle, 1964; Schell, 1963).
The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by Dr. Criss Capps PhD. P.Geol., an independent consultant to Winston Gold Corp. Dr. Capps is a Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Winston Gold
Winston Gold is a junior mining company focused on advancing high-grade, low cost mining opportunities into production. Towards that end, the Corporation has acquired two under-explored and under-exploited gold/silver mining opportunities, being the Winston Gold project near Helena, Montana, and the Gold Ridge project, near Willcox, Arizona.
On behalf of the Board of Directors of the Company and for further information, please contact:
Murray Nye, Chief Executive Officer and a director of Winston Gold, at:
Suite 201-919 Notre Dame Avenue
Winnipeg, Manitoba, R3E 0M8
Telephone: (204) 989-2434
The CSE has neither approved nor disapproved the information contained herein.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Winston Gold Mining Corp. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.