Wescan Goldfields Provides Update On Munro Lake Project; Shares Near Yr Lows


Wescan Goldfields Inc. (WGF.V), near a year low 2 cents, announced the results of the winter drill program on its Munro Lake Gold Property, located approximately 7 kilometers north of Claude Resources' (CRJ.TO, CGR) Seabee gold mine/mill complex and 4.5 kilometers north of Claude's Santoy 8 mine. The Munro Lake Project is an early stage gold exploration play which encompasses the northeast projection of the E-W Laonil Shear Zone which is the main deposit control structure for the Seabee Mine gold mineralization and contains a prominent 6.5 kilometre long NW-SE trending structure which is a continuation of the structure that hosts Claude's Santoy 2, 3 & CRJ 100 gold showings.

Wescan said: "Historical drilling on the CRJ100 gold showing by Claude have reported grades of up to 38.4 g/t over 0.9m. This lies less than 0.5 km to the SE of the Munro Lake property boundary. The NW-SE trending structure contains numerous gold showings along its entire length and extends from the Santoy 2, 3 and CRJ 100 gold showings all the way through Wescan's property. This same structure also extends to Claude's most northerly disposition and their Trident exploration target."

It added: "The winter drill program included a total of 1,052.34 metres of diamond drilling over 4 holes. The program was designed to test areas of anomalous gold in the long NW-SE trending structure identified from historic ground prospecting. Three (3) holes (EXML-001, 002 & 004) were drilled in the southeastern (metavolcanics), and one (EXML-003) in the northwest (granodiorite), extent of the structure. In the southeast all holes intersected anomalous gold in shear hosted quartz/pyrite veins highlighted by an interval of 67.1 g/t Au over 1.00 in EXML-002 in a vein with associated visible gold and 7.1 g/t Au over 1.00 m in hole EXML-001. In the northeast hole (EXML-003) intercepts were also well above background in two pyritised shears within the granodiorite."

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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