2012-10-04 15:04:54 -
Vancouver, British Columbia CANADA, October 04, 2012 /FSC/ - Winrock Resources Inc.(WR - CNSX),is pleased to announce the completion of the acquisition of 100% of four non NI-43-101 mineral occurrences near its 100%-owned polymetallic property located 50km southwest of Kitimat, British Columbia, Canada. Consideration for the acquisition of the Property consists of the issuance of a total of 150,000 common shares of the Company. The claims cover four known massive sulphide mineral occurrences:
The Thirteen Creek occurrence
The Thirteen Creek occurrence, located about 4 kilometres southwest of the Ecstall deposit (103H 011), occurs in a zone of strong hydrothermal alteration, including chloritization, sericitization, and silicification. A 30 centimetre wide, 100-metre long chert bed with pods of massive pyrite-chalcopyrite mineralization occurs
in quartz-biotite- chlorite schist. A grab sample taken at 640 metres elevation assayed 8.06 per cent copper, 0.53 per cent zinc, 350 grams per tonne silver, and 2.4 grams per tonne gold (Assessment Report 15488). Several boulders found within the cirque contain pyrrhotite-pyrite- chalcopyrite-galena mineralization. A drill hole, 350 metres to the north intersected a 10 centi- metre section of argillite with sphalerite and pyrite containing 0.98 per cent zinc.
A 200-metre wide succession, containing disseminated and stringer copper mineralization and local banded zinc mineralization is reported (GCNL #26, February 8, 1994). A belt of vertically dipping sericitic quartzofeldspathic gneiss 150 metres wide and 2.5 kilometres long contains widespread disseminated chalcopyrite, minor pyrite and traces of bornite. The longest chip sample assayed 0.20 per cent copper over 119 metres; the highest grade sample returned 0.65 per cent copper over 7.5 metres (Exploration 1994).
The Phoebe Creek zone
Mineralization in the Phoebe Creek area consists of stringer and disseminated chalcopyrite within quartz-sericite-kyanite schist and mixed gneiss. The stringers are 1 to 3 centimetres wide and a few metres long. A grab sample (AD01939) contained 6.56 per cent copper, 0.0296 per cent zinc, 19.1 grams per tonne silver and 0.15 grams per tonne gold (Assessment Report 16711). The disseminated chalcopyrite occurs in a zone 6.5 metres wide. Seven composite chip samples, taken across 1 metre intervals, indicate that the mineralization is fairly consistent and averages 0.69 per cent copper, 2.22 grams per tonne silver and 0.25 grams per tonne gold (Assessment Report 16711).
Disseminated and stringer chalcopyrite and malachite occur in a 120 metre wide belt of quartz-sericite-kyanite schist for about 900 metres. Twelve samples taken along the belt averaged 0.27 per cent copper, with one assaying 1.5 per cent copper (Assessment Report 15488). Seven grab samples of stringer material averaged 3.04 per cent copper, 0.0695 per cent zinc, 11.7 grams per tonne silver, and 1.525 grams per tonne gold (Assessment Report 16711). The area also contains mineralized quartz veins in small shear zones within amphibolite. Mineralization consists of pyrite, chalcopyrite, and pyrrhotite.
Mineralization at the Sphalerite occurrence consists of a 4 centimetre wide by 2.2 metre long band of sphalerite within a green, medium-grained, calc-silicate horizon at the contact between quartz-chlorite-biotite schist and marble. A grab sample (AD01700) contained 6.00 per cent zinc, 0.06 per cent copper, 1.5 grams per tonne silver and 0.0746 per cent cadmium (Assessment Report 16711).
"The acquisition of these mineral claims near our Kitimat project represents a step forward in developing a new VMS mining camp in northwest British Columbia.", commented Paul Dickson, President and Chief Executive Officer of Winrock.
About Winrock Resources Inc.
Winrock is a natural resource company engaged in the acquisition and exploration of mining properties. The Company's main emphasis is on the exploration for copper, zinc, silver and gold in the Province of British Columbia where the Company has a 100% interest in the Horsefly Property which consists of 21 mineral claims. Winrock has a total of 9,354,000 common shares issued and outstanding (exclusive of the announced financing). For additional information, please visit www.winrockresources.com
Company Contact Information
Paul Dickson, President, CEO & Director
501 - 325 Howe Street
Vancouver, British Columbia
V6C 1Z7 CANADA
Cautionary note: This report may contain forward-looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. Unless otherwise stated, any and all resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward-looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
501 - 325 Howe Street Vancouver, British Columbia, V6C 1Z7, CANADA, T. 604.722.5116 F. 604.685.3833
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Source: Winrock Resources Inc. (CNSX: WR) www.winrockresources.com
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