Western Alaska Minerals (CVE: WAM) just received assays results on its first gold intercepts pulled from a large target area in the company’s state of operations.
The new results released Thursday come from the Warm Springs target area within Alaska’s Illinois Creek gold-silver project.
This new drill hole intercepted approximately 1.3 grams per tonne gold (Au) over 4.7 metres in one of two zones it passed through. A short 0.2 metre interval in this zone contained 12.5 g/t Au. The second zone contained 2.1 g/t Au over about 3 metres, including 5.57 g/t Au in 1 metre of the core length.
This is the first significant gold mineralization intercepted in the Warm Springs target area since exploration was initiated in 2021. Only nine holes have been drilled since that time.
“Finding gold at Warm Springs opens up a whole new gold target zone within the eight-kilometre-long trend between the Illinois Creek and Waterpump Creek resources,” chief executive and founder, Kit Marrs, said. Marrs has been involved with the site since the 1980s. He was the first geologist to examine the property.
Warm Springs is a vast target area situated adjacent to the Illinois Creek resource in the southeast. Illinois Creek is estimated to hold 75 million ounces of silver equivalent. The LH target to the east is the other priority area with drilling currently underway.
“The possibility that this is a separate structure parallel to the Illinois Creek Fault is especially intriguing as it may indicate a whole new ‘spoke’ to the system,” technical advisor Peter Megaw said.
4,000 metres of drilling is underway in the two target areas. Map: Western Alaska
Read more: Calibre intercepts long intervals of gold mineralization above resource grade
Read more: Calibre Mining’s latest results may extend life of mine at Eastern Borosi
Megaw is an expert metals hunter
He has discovered over US$1 billion dollars worth of silver resources during his career.
Megaw was significantly responsible for locating the major Juanicipio deposit in Mexico — currently being exploited by MAG Silver Corp (TSE: MAG) and Fresnillo Plc (OTCMKTS: FNLPF). Multiple other resources too.
He obtained a Ph.D. in geology from the University of Arizona in his younger days. Now, he has over 40 years of experience, primarily south of the American border.
“Peter brings a lot of value,” Marrs told BNN Bloomberg this month. “He is highly involved in developing our exploration strategy, planning, and then later analysis of results.”
Marrs brings over three decades of experience in Alaska and elsewhere to the table himself.
rowan@mugglehead.com
