Drilling Resumes at Jasper
May 4, 2006
Wescan Goldfields Inc. (“Wescan”) is pleased to report that diamond drilling and surface exploration activities have resumed on the Fork Lake property. Wescan has received regulatory approval to drill 9,500 meters of NQ diamond drill core; to clear a trail along the south strike continuation of the Transect Zone and to rehabilitate the former Decade mine road.
The 9,500 meter drill program is designed to:
1. Drill-test the continuation of the Deep Jasper (DJ) and Roxy zones to the north-east.
2. Drill-test the continuation of the JN-Footwall and JN-East zones along strike and at depth, where previous drill intersections produced up to 15.75 g/t over 0.90 meters (core length). These are newly discovered near surface gold zones are situated close to the former mine workings and represent excellent targets.
3. Drill-test the continuation of the zones intersected in DL-06-03 and DL-06-09 along the Transect Zone, where previous drill intersections of up to 12.07 g/t over 1.0 meter (core length) have been realized.
Clearing of a trail along the south strike extension of the Transect Zone will allow access to this prospective target area after which a soil sampling, prospecting and geological mapping campaign will be initiated. Also, clearing of the former Decade mine road to the northeast part of the property will allow a more detailed evaluation of additional existing targets.
A computer-generated Geological Model of the gold zones around the former mine workings (DJ, Roxy, JN-Footwall, JN-East and lower grade mineralization left in place adjacent to previously mined stopes) is in process. This model will help with planning of future drilling and will also be used to generate a National Instrument 43-101 compliant Mineral Resource estimate.
The final drill holes of the previous drill campaign (holes JS-06-29, JS-06-30, DL-06-12 and DL-06-13) did not indicate any significant assay results.
Frank Hrdy, Wescan’s Exploration Manager, states: “The exploration permits for the 2006/07 season were finalized on Friday, April 7th and drilling resumed immediately. The focus at Jasper this year is to continue to outline the DJ Zone to the north-east until it is determined that a sufficient resource is inferred to warrant an underground initiative. The north-east extension of the Roxy Zone and the JN-Footwall and JN-East Zones will also be evaluated.
The regional exploration program is designed to develop access to many of the previously and recently discovered drill, geochemical and geophysical anomalies so exploration crews can continue to evaluate these targets. ”
The diamond drill program and exploration program was designed, supervised and reported on by Frank Hrdy, MSc., MBA, P.Geo., Wescan’s Exploration Manager. Mr. Hrdy is a member of the Association of Professional Engineers and Geoscientists in the Provinces of Saskatchewan and Manitoba and pending in Ontario. He has reviewed this News Release and is a Qualified Person in accordance with National Instrument 43-101.
Wescan is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Venture Exchange under the trading symbol “WGF”
Caution Regarding Forward-Looking Statements
From time to time, Wescan makes written or oral forward-looking statements within the meaning of certain securities laws, including the "safe harbor" provisions of the Ontario Securities Act and the United States Private Securities Litigation Reform Act of 1995. Wescan may make such statements in this press release, in other filings with Canadian regulators or the United States Securities and Exchange Commission, in reports to shareholders or in other communications. These forward-looking statements include, among others, statements with respect to Wescan's objectives for the ensuing year, our medium and long-term goals, and strategies to achieve those objectives and goals, as well as statements with respect to our beliefs, plans, objectives, expectations, anticipations, estimates and intentions. The words "may," "could," "should," "would," "suspect," "outlook," "believe," "plan," "anticipate," "estimate," "expect," "intend," and words and expressions of similar import are intended to identify forward-looking statements. In particular, statements regarding Wescan's future operations, future exploration and development activities or other development plans contain forward-looking statements.
All forward-looking statements and information are based on Wescan's current beliefs as well as assumptions made by and information currently available to Wescan concerning anticipated financial performance, business prospects, strategies, regulatory developments, development plans, exploration, development and mining activities and commitments. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, developments in world gold markets, risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar, changes in exploration, development or mining plans due to exploration results and changing budget priorities of Wescan or its joint venture partners; the effects of competition in the markets in which Wescan operates; the impact of changes in the laws and regulations regulating mining exploration and development; judicial or regulatory judgments and legal proceedings; operational and infrastructure risks and the additional risks described in Wescan's most recently filed annual and interim MD&A and Wescan's anticipation of and success in managing the foregoing risks.
Wescan cautions that the foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to Wescan, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Wescan does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by Wescan or on our behalf.
For further information:
Frank Hrdy, Exploration Manager or Wade MacBain, Corporate Development at (306) 664-2422.
“The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this release”