EXPLORATION & DEVELOPMENT

West Kirkland reveals high-grade surface samples

Samples within 2km of Hasbrouck gold reserves

Staff reporter

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Assay highlights from the Sealey Ridge, Gold Zone and Adit samples on Gold Mountain included 18m at 6.52g/t gold, 30m at 3.21g/t and 67m at 1.35g/t.

The company said Gold Mountain was less than 1.6km from the Hasbrouck reserves, which comprised 45.27 tonnes at 0.58g/t gold and 7.99g/t silver, or 784,000 ounces gold-equivalent.

West Kirkland owns 75% of the Hasbrouck gold project and has acquired a 100% interest over leases between the Hasbrouck project's original two deposits 8km apart, Hasbrouck and Three Hills.

It has a 100% option on Gold Mountain.

A 2016 feasibility study for the "shovel-ready" Hasbrouck project outlined an openpit, heap leach project with a US$47 million capex, an after-tax NPV (5% discount) of $120 million and a 43% IRR.

The company raised C$1.37 million (US$1.05 million) in a private placement at 6c per share in March, for resource expansion, exploration and phase two permitting at Hasbrouck, plus general working capital. 

Hasbrouck's 25% owner, Waterton Precious Metals Fund II Cayman, is funding its share of expenditures at the project.

Shares in the company have traded between C5.5-8.5c over the past year and closed unchanged on Friday at 6c.

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