WSR-Metalex-Arctic Star Joint Venture Intersects Massive Sulphides on Ring of Fire Geophysical Target, James Bay Lowlands, Ontar
22 Maggio 2008 - 8:54PM
Marketwired
TORONTO, ONTARIO , Project Geologist, Brian Polk, has advised
that the first hole, inclined at 60 degrees towards a sympathetic
electromagnetic - magnetic Noront-style geophysical anomaly, has
intersected massive sulphides between 78.1 and 90.1 metres depth.
The hole is targeted to intersect the most conductive anomaly
between approximately 100 and 150 metres in depth. The true width
of the sulfide intersection is not known at this time.
Significant amounts of pyrrohotite, pyrite and chalcopyrite have
been visually identified by Brian Polk within the massive
sulphides. The anomaly is believed to be within the projected
strike of the "Ring of Fire" zone that hosts the Noront
discoveries. Mineralized parts of the drill hole are being cut in
half, so that one half of the mineralized zones can be couriered to
a laboratory for
nickel-copper-cobalt-platinum-paladium-rhodium-gold-silver assay
analysis.
Dr. Charles Fipke is the Qualified Person responsible for the
technical contents of this press release.
About WSR
WSR is a Canadian based mineral exploration company with
extensive property holdings strategically located on and around the
nickel/copper "Ring of Fire" in northern Ontario near James
Bay.
WSR can earn a 50% interest in the McFauld's Lake Property
pursuant to an option agreement with Noront Resources Ltd. (TSX
VENTURE: NOT) (see press release dated November 1, 2007). The area
will include 15 Claim Blocks, approximately 4,400 hectares (9,600
acres) in the Ring of Fire, McFauld's Lake, Ontario near Noront's
prolific nickel copper and platinum group metals discovery.
WSR has agreed to acquire a 75% interest in the Big Mac Property
from MacDonald Mines Exploration Ltd. (TSX VENTURE: BMK) consisting
of 51 Claim Blocks, approximately 27,660 acres (see press release
dated February 15, 2008).
WSR has entered into an agreement with Metalex Ventures Ltd.
(TSX VENTURE: MTX) and Arctic Star Diamond Corp. whereby WSR the
right to fund a maximum of $20.0 million in expenditures on the
James Bay Properties Property over a 4 year period to earn a
maximum 50% interest. The James Bay Properties comprise
approximately 214.4 square kilometers (52,980 acres) (see press
release dated March 26, 2008).
Forward looking statements: Certain information set forth in
this news release may contain forward-looking statements that
involve substantial known and unknown risks and uncertainties.
These forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond the control of WSR,
including but not limited to the impact of general economic
conditions, industry conditions, volatility of commodity prices,
risks associated with the uncertainty of resource and reserve
estimates, currency fluctuations, dependence upon regulatory
approvals, the unavailability of future financing and exploration
risk. Readers are cautioned that the assumptions used in the
preparation of such information, although considered reasonable at
the time of preparation, may prove to be imprecise and as such,
undue reliance should not be placed on forward-looking
statements.
Shares Outstanding: 111,515,983
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: WSR Gold Inc. John Tait President and Chief Executive
Officer (416) 628-5905 (416) 628-5911 (FAX) Email:
jtait@wsrgold.ca
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