- Wescan Goldfields (TSXV:WGF) identified visible gold in a quartz vein at its Munro Lake Project in Saskatchewan.
- The junior mining company is advancing four gold projects in Saskatchewan highlighted by a past-producing mine and a compliant resource estimate.
- Wescan Goldfields stock last traded at C$0.075 and has added 150% year-over-year.
Wescan Goldfields (TSXV:WGF) identified visible gold in a quartz vein at its Munro Lake Project in Saskatchewan, which resides only 7 kilometres northeast of SSR Mining’s Seabee mine and mill complex, the province’s only producing gold operation.
This article is a journalistic opinion piece which has been written based on independent research. It is intended to inform investors and should not be taken as a recommendation or financial advice.
The vein, located in the North Vein Target, in the project’s Southeast Zone, features a 25-metre strike length and is about 3 metres wide at surface, supported by historical grab samples taken in 2012 and 2019 yielding between 0.77 and 6.79 grams per ton (g/t) gold. Drill test results, part of a phase-1 drilling program announced earlier this month, have been sent for assay.
While a compelling find, investors current and prospective should remember that laboratory results are the most reliable indicator of a vein’s gold content.
Wescan previously drilled a parallel vein in 2013 located 50 m to the southwest, yielding 67.1 g/t gold over 1 m from 167.70 to 168.70 m downhole (EXML-002). Another intercept, 420 m southeast of the visible gold, returned 7.1 g/t gold over 1.02 metres from 59.58 to 60.60 m downhole (EXML-001).
Concurrently, the company is sharing that new drone survey data taken in September unveiled a narrow 1-km magnetic high along the interpreted mineralized trend, correlating with historical grab samples, passing through both the North Vein Target and the South Vein Target.
According to Monday’s news release, leadership is interpreting how this new data can best guide drilling and geological mapping moving forward.
Leadership commentary
“The Southeast Zone is a top priority for Wescan,” W. Connor MacNeill, Chief Executive Officer of Wescan Goldfields, said in a statement. “Identifying visible gold at surface on the North Vein Target that EXML-002 was originally drilled to test is an encouraging observation, and the drill is now testing that vein along the plunge mapped at the showing. We look forward to reporting assay results as they are received.”
About Wescan Goldfields
Wescan Goldfields is a junior mining company advancing four gold projects in Saskatchewan. The company’s Jojay deposit features a historic 2010 NI 43-101-compliant resource estimate of 420,000 tons grading 3.7 g/t gold indicated and 630,000 tons grading 4.3 g/t gold inferred. Its Jasper mine, operated by Cameco in the early 1990s, produced 82,700 ounces of gold from 140,000 tons grading 18.9 g/t gold.
Wescan Goldfields stock (TSXV:WGF) last traded at C$0.075 and has added 150% year-over-year.
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