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waseco resources inc (WRI) Snapshot

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waseco resources inc (WRI) Details

Waseco Resources Inc., an exploration stage company, is engaged in the exploration of mineral properties in Canada and the United States. It explores for gold, uranium, copper, and diamond projects. The company principally has an option to earn a 75% interest in the Battle Mountain Ridge project that consists of 29 claims located in the Battle Mountain area of Nevada. Waseco Resources Inc. is based in Toronto, Canada.

waseco resources inc (WRI) Top Compensated Officers

President and Director
Total Annual Compensation: C$32.0K
Chief Financial Officer, Secretary, Treasurer...
Total Annual Compensation: C$12.0K
Compensation as of Fiscal Year 2013.

waseco resources inc (WRI) Key Developments

Waseco Resources Inc. Plans New Drill Program at Battle Mountain, Nevada

Waseco Resources Inc. announced that it intends to follow up on the excellent results of its 2012 drill program and the acquisition of the balance of the lease to the Battle Mountain Ridge gold project in Lander County, Nevada. The Waseco Board has approved a drill program designed to expand several of the known gold zones previously identified on the property and evaluate new targets. The initial focus will be on the North Zone where, in a core drilling program completed by Waseco, Hole 12#5 intersected 25.4 g/t Au (0.9oz/t) over 3.7m (12feet) in the interval 150-153.7m down hole (450-465feet) on a splay fault of the dominant stibnite fault. This interval included intersections of: 47.6 g/t Au (1.68 oz/t) over 0.9m (3 feet) and 61g/t Au (2.15 oz/t) over 0.6m (2 feet). This hole is exceptional in that it has intersected the higher grade gold mineralization reported from any known exploration program completed on the property to date. This high grade zone remains open laterally and to depth. Three to four RC holes are planned for this area. An upper zone, higher in the hole, between 128-147m (420-465 feet), returned gold values averaging of 1.82g/t Au (0.06oz) over 13.72m (45 feet). The intersections appear to be approximately 85% of true widths based on the core angles and information plotted on cross section. A previous RC hole intersection, approximately 25m above Hole 12#5, returned 29m (95 feet) of 1g/t Au. Hole 12#6, drilled at 53 degrees to the east, returned intersections of 5.3 g/t Au over 1.5m from 65.8-67m, 0.49g/t Au over 3m from 178-181m and 1.15g/t Au over 0.9m from 194.5-193.4m. The upper zone of core Hole 12#5, was not intersected in core Hole 12#6. It is believed that this higher grade zone may be off-set to the north and therefore was missed by Hole 12#6. This interpretation will be tested during the planned program. The South Zone will also be tested by 1 or 2 holes to follow-up to several previous RC holes (7-5, 7-6, and 93-19) that intersected significant gold as well as core Hole 12#2 which intersected several mineralized zones. The upper zone returned 4.6m of 0.41 g/t Au from 6.1-10.7m. Two deeper zones, from 59.5-68.6 and 74.7-76.2 m, returned 8.4m of 0.52g/t Au and 1.5m of 0.53g/t Au, respectively. This mineralization appears to extend to surface as a 1m chip sample at the surface returned 0.63g/t Au but extensive surface sampling or trenching has not yet been done in this area. This zone is open to the north where no drilling has carried out to date to extend the zone. The intersection of two major fault zones about 150m to the north makes this area a priority target.

Waseco Resources Inc., Annual General Meeting, Aug 27, 2013

Waseco Resources Inc., Annual General Meeting, Aug 27, 2013.

Waseco Resources Inc. Reports Completion of Battle Mountain Ridge Nevada 2012 Gold Exploration Program

Waseco Resources Inc. reported results from drill Hole 12-6, and the completion of its 2012 gold exploration program at the Battle Mountain Ridge Property in Nevada. BMR is strategically located immediately adjacent to Newmont's Trenton Canyon Gold Mine and within 10km of Barrick and Goldcorp's Marigold Mine operations to the north and Newmont's Phoenix Mine to the south. More than 18 Million ounces of gold have been found in the area surrounding BMR on the prolific Battle Mountain Gold Trend. The drilling program delivered valuable information with regards to the geologic and structural controls of gold mineralization at BMR. Multiple complex faults/structures and local lithologies have been shown to contain significant gold mineralization. Management is encouraged by the results of the 2012 diamond drill program and with the overall potential of the property. During this program, two of the three known gold zones on the property were core drill tested for the first time. The highlight of the program was Hole 12-5, drilled in the North Zone, which returned the highest grade gold results on the property to date. Hole 12-5 assay results included 25.39g/t Au over 3.7m, including 47.6g/t Au over 0.9m and 61g/t Au over 0.6m at a depth of 150 meters. The high grade gold zone reported in Hole 12-5 is associated with stibnite, an antimony bearing mineral that can be a significant pathfinder in Nevada gold deposits. Both Holes 12-5 and 12-6 were drilled on the North Zone. Hole 12-6 returned multiple gold intercepts including 5.3g/t Au over 1.5m starting at a depth of 65.5m, 0.39g/t Au over 4.6m starting at a depth of 178.4m, including an intersection of 0.63g/t Au over 1.5m, 0.37g/t Au over 1.5m at a depth of 186m, and 0.60 g/t Au over 2.1m, including 1.1g/t Au over 0.9m at a depth of 194.5m. Previous reverse circulation hole (RC) intersection, approximately 25m above Hole 12-5, returned 29m of 1g/t Au, which correlates well with the intersections in Hole 12-5. It is very significant that the northern projection of the high grade gold zone associated with the stibnite carrying intrusive in Hole 12-5 lies east of the bottom of Hole 12-6 and was thus not intersected in the latter hole. The high grade gold zone remains open in all directions. The North Zone is characterized by numerous intersections of heavily altered and mineralized intrusive rocks associated with variable amounts of stibnite mineralization and these appear to have a significant control on localization of gold. Most mineralization appears to be associated with structures cutting the contact zone between the Battle and Valmy Formations. A deep seated intrusive has been interpreted to exist at a depth of approximately 600 meters and the numerous intrusive intersections in the current and past drilling are likely related to this body. Holes 12-1 to 12-4, inclusive, were all drilled on the South Zone to provide structural and geologic data on the wide intersections of gold mineralization found in previous RC drilling. Hole 12-1 encountered a wide fault zone and was abandoned before intersecting the projected South Zone location. Anomalous values up to 0.1g/t Au were intersected at the bottom of this hole (abandoned at 60m depth), near the contact between the Battle and Valmy Formations. Holes 12-2, and 12-3 intersected significant anomalous gold values. The South Zone is also open about 200 meters to the north, where no drilling has been carried out to date.

 

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