SURFACE extension channel sampling at the Umuna Zone of WCB Resources’ Misima Island Gold-Silver Project has returned strong results. Outcropping surface mineralisation has been identified over significant widths.
|Gathering samples from WCB Resources’ Misima Island Gold Project in eastern Papua New Guinea.|
Preliminary sampling results include 68 metres @ 1.96 grams/tonne (g/t) gold and 6.08 g/t silver, and 18 metres @ 4.07 g/t gold and 5.56 g/t silver.
The channel sampling and associated mapping at Kulumalia is part of an ongoing systematic exploration program focused on identification and evaluation of surface extensions to the Umuna Zone, Misima’s main zone of mineralisation, in preparation for further drill testing.
Kulumalia is the south-eastern extension of the plus 3km strike Umuna Zone. Previous shallow mining at Kulumalia has extracted near-surface gold-bearing material over 500 metres to depths of up to 100 metres below surface. Recent ongoing systematic studies have identified this zone extends outside the historic pit confines.
Mapping to the southeast has identified the extensions of the Umuna Fault Zone along with up to three multiple zones of base metal vein stockwork and disseminations developed with gold and silver. Continuity will be further evaluated with subsequent trenching and channel sampling exploration activity.
WCB’s president and CEO Cameron Switzer said, “The recognition of the surface Kulumalia extensions could prove a critical factor in unlocking further gold potential as not only is this extension defined over a significant distance, but it also brings the opportunity for near-surface oxide mineralisation that can be accessed early in any future start up.
“These channel samples in combination with the mapping data will allow with confidence the accurate interpretation of the mineralised zones to surface for resource modelling. The delineation of surface oxide mineralisation with good grade over significant width is highly encouraging.”
Planning for future drill testing in this area will focus on zones that increase the resources as well as validate the continuity and increase the level of confidence for future mineral resources.
WCB recently announced the resignation of Jim Simpson as a director. It also completed the second stage of the farm in, as audited and approved by PPC and Gallipoli which will increase the company’s interest to 49% ownership in Gallipoli. The interest is held by WCB Pacific Pty Ltd, a wholly owned subsidiary of WCB. Total expenditures in the Misima Island project as at March 31, 2016 totalled approximately $6.761 million.