I have been around mining finance for almost forty years and have experienced many mine discovery markets.
A major discovery market is developing around the recent West Timmins deep gold intersection published during the summer. There will be plenty more information to come but the thick intersection and solid grade makes the tenor of the mine. Truly major mine discoveries come along every few years or so. This is in that category. The thicknesses been encountered is a magnitude higher that typical for gold ores and the scope of the structure is also measured in kilometers and goes to major depth.
A major gold camp will produce fifteen million ounces and this one looks to be running away with it. The exceptional grade occurs as we go to depth so it is even plausible that this camp and not just this deposit may shape up someday to even match the productivity of some of the great mining camps. In the event, the ride has begun and if you must participate, the best advice that I can give anyone is to buy the leader and ride it. Most others will be dust in a couple of years and only pros can succeed there.
You are unlikely to ever see gold intersections quite like the best reported here so far. So enjoy them and remember that intersections of a few feet at a fraction of the grade also make gold mines. They will still be drilling for some time to build tonnages. That means we will be seeing more interpretive reports and the like as results flow.
This is a recent report and is a follow up to an earlier report that showed deep intersections with much higher grades.
Those intersections provided grade that has the benefit of turning a lot of gold bearing mineralization into valuable ore.
Assay reports are in the original news release, but were not transferred on copying. the text notes highlights.
PLEASE NOTE I have no interest in the stock of this company or any related company at the time of writing.
West Timmins gold Project VANCOUVER, BRITISH COLUMBIA, Aug 24 (MARKET WIRE) – West Timmins Mining Inc. (TSX: WTM) ("WTM" or the "Company") today provided the following update of exploration activities on its 100% owned West Timmins Gold Project in Timmins Ontario.
Highlights include the continued expansion of the Golden River West Zone and the potential extension of the Golden River West Zone by over 1,200 metres beyond the currently defined western end of the zone.
West Zone Continues to Return Broad Zones of Gold Mineralization
On-going expansion and in-fill drilling on the Golden River West Zone continues to intersect broad zones of gold mineralization ranging in width from 22.20 to 56.21 metres. Within the broad mineralized envelops are two higher-grade sub-zones which continue to demonstrate continuity to depth, including an intercept grading 10.73 g/t gold over 0.70 metres in hole GW-09-52. The West Zone remains open along strike to the West(see below) and to depth in all directions.
Drill Intercepts are interpreted to represent 105-115% of true thickness Drill hole GW-09-47 tested below previously reported high-grade intercepts (see NR 09-11 April 16, 2009: http://media3.marketwire.com/r/April162009release ) along section 2450 E and is the deepest hole to date along this section.
This hole appears to have intersected a new, broad zone of strongly anomalous gold mineralization beneath the West Zone - 53.50 metres grading 0.43 g/t gold. Hole GW-09-47 was continued to depth and successfully intersected both the Sandhill and Pond Zones, returning a high-grade intercept of 6.46 g/t gold over 1.50 metres from the Pond Zone.
West Zone Potentially Extended by 1,200 Metres Drilling along the Golden River Trend, over 1,200 metres west of the current western margin of the West Zone inferred gold resource, has intersected anomalous gold mineralization over widths of 2.00 to 16.00 metres, including individual intercepts grading up to 6.81 g/t (0.20 oz/t) gold over 1.50 metres (see table below).
These intercepts occur along an extensive geophysical anomaly which can be traced from the West Zone, through the area of the intercepts reported today and for an additional 200 to 400 metres West.
Due to uncertainties in zone orientations, true widths are not known at this time.
Highway 144 Drilling Continues to Return Anomalous Gold Mineralization Additional shallow drilling in proximity to the Highway 144 gold discovery has returned a number of anomalous gold mineralized intercepts.
The results appear to indicate that the Highway 144 Zone plunges to the north-east along the projected dip of the host syenite porphyry body. Holes Hwy-09-13 and Hwy-09-17 both intersected broad zones of anomalous gold mineralization similar in nature to that associated with discovery holes Hwy-09-05 and -12 and appear to be located in the footwall to the main gold mineralized zone.
Hole Hwy-09-19, drilled over 200 metres to the east of holes 5 and 12-17 collared into anomalous gold mineralization hosted within the same syenite porphyry body.
Additional drilling will target down-plunge extensions of the Highway 144 Zone, further test the anomalous zones of gold mineralization intersected in hole Hwy-09-19 and continue to further test the sediment-ultramafic contact zone which hosts the Rusk and Porphyry Gold Zones on the adjacent Thunder Creek Property. Due to uncertainties in zone orientations, true widths are not known at this time.
Quality Control and Assurance Geochemical results reported are from halved drill core samples collected from WTM's 100% owned Thorne and Highway 144 Properties, part of the Company's West Timmins Gold Project. Core samples were collected by employees and consultants in the employ of the Company and are subject to the Company's quality control program.
Sampling was conducted on site at the Company's exploration office in Timmins, Ontario and sealed samples were transported to ALS Chemex preparation facilities in Timmins, Ontario in the case hole GW-09-35 to GW-09-40 and Hwy-09-14 to Hwy-09-20 and to the lab facilities of Swastika Assay Labs in the case of drill holes GW-09-47 to GW-09-52.
Samples were assayed for gold by standard fire assay - ICP finish with a 30 gram charge. Gold values in excess of 3.0 g/t were re-analyzed by fire assay with gravimetric finish. A number of analytical discrepancies were observed for samples returned from ALS-Chemex. These discrepancies have now been resolved to the satisfaction of the qualified person.
The remaining half of the drill core is stored on-site at the Company's Timmins exploration office. For quality control purposes blank, duplicate and analytical control standards were inserted into the sample sequence at irregular intervals.
Mr. Darin Wagner (M.Sc., P.Geo), the Company's President, has acted as non-independent qualified person for this news release.
The qualified person has visited the project site, examined the intervals reported and, has verified that any significant analytical discrepancies have been resolved and that the reported results now meet the Company's quality control standards.
About West Timmins Mining Inc. (www.westtimminsmining.com):
WTM is focussed on the exploration and development of district-scale gold projects in the major gold camps of North America.
Recent drill results have continued to expand the high-grade Rusk and Porphyry Gold discoveries on the Company's Thunder Creek joint venture in Timmins, Ontario.
Drilling also continues to expand a number of zones of gold mineralization along the Golden River Trend on WTM's adjacent wholly owned Thorne Property.
WTM also has active gold exploration projects in Mexico, highlighted by the high-grade Lluvia de Oro gold-silver Project in Chihuahua State. West Timmins Mining is based in Vancouver, British Columbia, Canada and trades on the Toronto Stock Exchange under the symbol WTM.
On behalf of the Board of West Timmins Mining Inc. Darin W. Wagner, President and Chief Executive Officer For further details on West Timmins Mining Inc. please refer to prior disclosure at http://www.sedar.com/.
The securities described in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended, or under any U.S. state securities laws, and such securities may not be offered or sold in the United States absent an exemption from such registration requirements.
This press release contains forward looking statements within the meaning of applicable Canadian and U.S. securities regulation, including statements regarding the future activities of the Company.
Forward looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will","expected to", "plans", "planned" and other similar words. Actual results may differ significantly.
The achievement of the results expressed in forward looking statements is subject to a number of risks, including those described in the Company's annual information form as filed with the Canadian securities regulators which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward looking statements.
The TSX has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.
Contacts: West Timmins Mining Inc., VancouverJohn ToporowskiManager, Investor Relations(604) 685-8311 / Toll Free: (866) 685-8311
Copyright 2009, Market Wire, All rights reserved.
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