Western Alaska Minerals (TSXV:WAM) Reports Assay Results With Silver Grades Up To 39 oz/Ton at Waterpump Creek

Western Alaska Minerals (TSXV:WAM) has reported new drill assay results from drill hole WPC22-22 at the Waterpump Creek Carbonate Replacement Deposit from three multistage massive sulfide horizons. Mineralization is currently open and will continue to be the company’s focus as part of its expanded 2023 drill program.

Western Alaska Minerals CEO, Kit Marrs, commented in a press release: “The overall grades in this hole are outstanding with some exceptional intervals with silver grades up to 39 oz/ton in one of the internal zones. These three high-grade intercepts total over 86 meters in composite thickness and tie together with similar mineralization in ten other holes to give us 400 meters of continuous high-grade mineralization linked to the sulfide chimney cut in WPC22-18. All the signs indicate this is part of a major CRD system and we can’t wait to start the 2023 drill season and continue tracing this mineralization south where we think these zones coalesce and become thicker.”

Highlights from the assay results are as follows:

The best results are 54.6 Meters Grading 187 g/t Silver (6.0 oz/ton), 6.2% Lead and 5.1% Zinc (Including: 3.5 Meters Grading 1223 g/t Silver (39.3 oz/ton), 32.5% Lead and 8.1% Zinc)

  • WPC22-22 is located 50 meters south of WPC22-18, which cut 101m of massive and semi-massive sulfides interpreted as a feeder chimney
  • The WPC22-22 high-grade intercepts appear linkable to high-grade zones in the interpreted WPC22-18 chimney
  • The three intercepts show classic multi-phase CRD-style massive sulfide mineralization with silver-rich lead mineralization stages cutting earlier zinc-rich stages (See Table 1)
  • Similar mineralization has now been cut at similar elevations in 11 drill holes indicating a continuous elongate body 30 to 75 meters wide and 400 meters in length (See Figure 2)
  • Grades in the middle and lower sulfide intervals were high enough to allow for thicker intervals to be reported than in the prior news release of 9/22/2022.

The discussion below incorporates visual data from drillholes WPC22-21 and -22 and from previous drill holes (See news release of September 22, 2022). Assay results from WPC22-21 will be reported when received and vetted.

Mineralization Observations

Hole WPC22-22 cut three significant zones of massive to semi-massive sphalerite and argentiferous galena in a matrix of secondary dolomite like that seen in previous drilling press releases. The intercepts are separated by highly altered and weakly to unmineralized dolomitic host rock. All the intercepts clearly show multiple cross-cutting stages of mineralization. Distinctive zones of silver-rich galena cut separate lower-silver sphalerite stages. There are at least two separate stages of sphalerite.

Data from this release continue to show a strong correlation between silver and lead with each 1% lead associated with approximately 1 oz/ton silver. Zinc grades appear far more variable and reflect different stages of mineralization.

Table 1. Highlight assay results from drill hole WPC22-22. All Company Waterpump Creek results can be found on the website along with more technical details.

Figure 1. Updated longitudinal-section down the axis of the Waterpump Creek manto showing its position beneath the overlying schist and progressive thinning to the north from the WPC22-18 Chimney. Note how the manto maintains very significant thickness to the south into WPC22-22 and how the highest-grade upper part of the manto can be traced continuously for 400 meters. Note also the pyrite zone concentrated along the interpreted Illinois Creek Fault and how late movements along the fault have allowed surface waters to infiltrate and oxidize the pyrite and surrounding sulfides to a massive gossan. Source: Western Alaska Minerals
Figure 2. Pierce point plan map of drilling at Waterpump Creek showing the emerging shape of the Waterpump Creek Manto and the location of the WPC22-18 Chimney at the interpreted intersection of the WPC Graben and the projected trend of the Illinois Creek fault. Note the continuation of strong manto mineralization to the south into WPC22-20 and 22 and that the manto remains open to the south along this principal axis as well as laterally. Source: Western Alaska Minerals

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I cover the mining industry and the best mining stocks around the world. I write about industry news, individual companies, projects, management, and profiles on industry leaders.

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