VANCOUVER, March 1, 2012 /PRNewswire/ - Wesgold Minerals
Inc. (TSX-V: WSG) ("Wesgold") and Minatura International LLC
("Minatura") are pleased to report assay results from recent
sampling at the Cordoba copper-gold porphyry project located in the
Municipality of Puerto Libertador in the Department of Cordoba,
200km north of Medellin,
Colombia. Wesgold has the option to acquire a 51%
interest in the property from Minatura subject to meeting certain
expenditure and cash payment requirements. The Cordoba
property consists of four granted mining concession contracts, one
pending contract and five applications for a total of 25,790
hectares covering under-explored marine volcano-sedimentary rocks
and felsic to intermediate intrusives with multiple artisanal gold
mines.
Wesgold's check sampling returned:
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| Samples / trench |
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Interval |
Au g/t |
Cu % |
| JM8-JM10 |
Wesgold sampling |
21.1 |
1.33 |
0.32 |
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Wesgold repeat |
21.1 |
1.76 |
0.32 |
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| JM13-JM14 |
Wesgold sampling |
18.1 |
1.35 |
0.54 |
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Wesgold repeat |
18.1 |
1.17 |
0.54 |
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Minatura sampling |
18.0 |
0.99 |
0.47 |
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| JM21-JM22 |
Wesgold sampling |
17.0 |
0.82 |
0.69 |
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Wesgold repeat |
17.0 |
0.94 |
0.69 |
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Minatura sampling |
16.0 |
0.82 |
0.52 |
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| JM25-JM26 |
Wesgold sampling |
14.2 |
0.52 |
0.18 |
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Wesgold repeat |
14.2 |
0.31 |
0.18 |
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Minatura sampling |
14.0 |
0.27 |
0.17 |
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| JM44-JM45 |
Wesgold sampling |
18.0 |
0.41 |
0.11 |
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Wesgold repeat |
18.0 |
0.61 |
0.11 |
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Minatura sampling |
18.0 |
0.60 |
0.10 |
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| JM23-JM24 |
Wesgold sampling |
13.0 |
0.50 |
0.90 |
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Wesgold repeat |
13.0 |
0.62 |
0.90 |
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Minatura sampling |
12.0 |
0.78 |
0.81 |
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| J6-J7 |
Wesgold sampling |
8.0 |
0.75 |
0.73 |
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Wesgold repeat |
8.0 |
1.17 |
0.73 |
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Minatura sampling |
9.0 |
0.85 |
0.79 |
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Porphyry-style gold-copper mineralization at
Cordoba is hosted within intensively fractured and altered mafic
volcanic rocks intruded by dioritic intrusives. Local artisanal
miners have been recovering gold from gold-bearing saprolitic soils
and weathered bedrock using pans, monitors and sluices. The current
sampling focused on the artisanal workings at the Montiel mine,
which covers an area of approximately 1 square kilometer.
Weathering is intense, and outcrop is rare, hampering geological
mapping.
Wesgold sampled a series of trenches, exposing
gold-copper mineralization in altered basaltic rocks at the Montiel
zone. The trenches were originally excavated and sampled by
Minatura. Wesgold resampled approximately 40% of Minatura's samples
at the Montiel trenches. In addition to gold, results
highlight a substantial amount of copper in the trench assays (e.g.
13m @ 0.9% Cu). However, visible copper oxides are rare.
Additional assays are expected, and will be reported once they are
received and confirmed. The exploration target at Cordoba is
porphyry-style copper-gold mineralization hosted in basalts and
potentially underlying intrusives.
Wesgold has concluded that Minatura's work was
completed to a high technical standard, and is reliable and
compliant with the technical disclosure standards of NI 43-101.
Sample / Assay Protocol
All samples were collected by Wesgold personnel
and remained with Wesgold's geologists until they were received by
Acme Labs in Vancouver and
Medellín, with analyses by Acme in their lab in Vancouver. Samples were crushed and sieved to
85% passing -200 mesh, and then analyzed by fire assay for gold and
also by an ICP-MS multi-element suite, which includes gold and
copper.
Qualified Person
Harmen Keyser, P.Geol. (NWT), the
President of Wesgold and a Qualified Person in accordance with NI
43-101, supervised Wesgold's work program at the Cordoba property
and is responsible for the accuracy of this news release.
About Minatura
Minatura International LLC is a private company
engaged in the business of exploration, development and,
ultimately, extraction of precious and base metals in Colombia, South
America. Minatura holds various projects in
Colombia totaling over 352,000
hectares of mining titles and applications for mining titles, all
except one of which are owned 100% by Minatura. The company
is dedicated to achieving a high return for its investors while
adhering to the highest environmental and safety standards in its
projects and creating legacy micro-economies for the communities in
which it operates.
About Wesgold Minerals
Wesgold Minerals Inc. is a Vancouver-based mineral exploration company
focused on the acquisition and exploration gold and copper projects
in Colombia. Wesgold
recently optioned from Minatura the Cordoba property, covering
25,790 hectares in the Department of Cordoba, Colombia, 200km north of the city of
Medellin.
WESGOLD MINERALS INC.
Per: "Simon Ridgway"
Chairman of the Board
Neither the TSX Venture Exchange nor the
Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy
or accuracy of this news release.
Forward-looking Statements
This press release contains "forward-looking
statements". Forward-looking statements involve known and
unknown risks, uncertainties, assumptions and other factors which
may cause actual results, performance or achievements of the
Company to be materially different from any expectations expressed
or implied by the forward-looking statements.
SOURCE Wesgold Minerals Inc.