Western Alaska Minerals Announces Assay Results For Three Thick, High-Grade Mineralized Intervals from Waterpump Creek Drill Hole WPC22-22 The best is 54.6 Meters Grading 187 g/t Silver (6.0 oz/ton), 6.2% Lead and 5.1% Zinc
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NEWS RELEASE
Western Alaska Minerals Announces Assay Results For Three Thick, High-Grade Mineralized
Intervals from Waterpump Creek Drill Hole WPC22-22
The best is 54.6 Meters Grading 187 g/t Silver (6.0 oz/ton), 6.2% Lead and 5.1% Zinc
(Including: 3.5 Meters Grading 1223 g/t Silver (39.3 oz/ton), 32.5% Lead and 8.1% Zinc)
TUCSON, ARIZONA, US – December 7, 2022 - Western Alaska Minerals (the "Company" or
"WAM") (TSX-V:WAM) is pleased to announce drill assay results for three thick multistage
massive sulfide horizons in drill hole WPC22-22 at its 100% owned Waterpump Creek Carbonate
Replacement Deposit (Table 1). Visuals for the intercepts were announced previously (See news
releases of August 2 and September 22, 2022). Mineralization remains open and will be the focus
of an expanded 2023 drill program.
Table 1. Highlight assay results from drill hole WPC22-22. All Company Waterpump Creek results
can be found on the website along with more technical details.
DH From (m) To (m) Width m* Ag g/t Ag opt Pb % Zn %
WPC22-22 161.6 184.3 22.7 293 9.4 9.0 20.3
including 161.6 168.6 7.0 557 17.9 16.7 21.8
WPC22-22 207.0 216.5 9.5** 118 3.8 3.5 8.7
WPC22-22 245.7 300.3 54.6** 187 6.0 6.2 5.1
including 271.1 274.6 3.5 1223 39.3 32.5 8.1
including 292.6 300.3 7.7 311 10.0 10.1 1.8
* Width reported as core length
** Previously visual release of 9/22/2022 reported 3.9 meters for middle zone and 40.7 meters for the lower zone
“The overall grades in this hole are outstanding with some exceptional intervals with silver
grades up to 39 oz/ton in one of the internal zones,” said Kit Marrs, WAM CEO. “These three
high-grade intercepts total over 86 meters in composite thickness and tie together with similar
mineralization in ten other holes to give us 400 meters of continuous high-grade mineralization
linked to the sulfide chimney cut in WPC22-18. All the signs indicate this is part of a major CRD
system and we can’t wait to start the 2023 drill season and continue tracing this mineralization
south where we think these zones coalesce and become thicker.”
Highlights of Hole WPC22-22
• WPC22-22 is located 50 meters south of WPC22-18, which cut 101m of massive and semi-
massive sulfides interpreted as a feeder chimney
• The WPC22-22 high-grade intercepts appear link able to high -grade zones in the
interpreted WPC22-18 chimney
• The three intercepts show classic multi -phase CRD -style massive sulfide mineralization
with silver-rich lead mineralization stages cutting earlier zinc-rich stages (See Table 1)
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• Similar mineralization has now been cut at similar elevation s in 11 drill holes indicating a
continuous elongate body 30 to 75 meters wide and 400 meters in length (See Figure 2)
• Grades in the middle and lower sulfide intervals were high enough to allow for thicker
intervals to be reported than in the prior news release of 9/22/2022.
The dis cussion below incorporates visual data from drillholes WPC22 -21 and -22 and from
previous drill holes (See news release of September 22, 2022). Assay results from WPC22 -21
will be reported when received and vetted.
Mineralization Observations
Hole WPC22-22 cut three significant zones of massive to semi -massive sphalerite and
argentiferous galena in a matrix of secondary dolomite like that seen in previous drilling press
releases. The intercepts are separated by highly altered and weakly to unmineralized dolomitic
host rock. All the intercepts clearly show multiple cross -cutting stages of mineralization .
Distinctive zones of silver -rich galena cut separate lower-silver sphalerite stages. There are at
least two separate stages of sphalerite.
Data from this release continue to show a strong correlation between silver and lead with each
1% lead associated with approximately 1 oz/ton silver. Zinc grades appear far more variable and
reflect different stages of mineralization.
Waterpump Creek Drilling: Discussion
Combining the results from the first 23 holes drilled in the Waterpump Creek structural zone
allows recognition of a continuous elongate ribbon (“manto”) of massive sulfides 30 to 75
meters wide and 400 meters in length plunging gently to the south (Figures 1 and 2) .
Mineralization remains open in several directions. The mineralization affects reactive dolomite
lying beneath an impermeable schist along the WPC Creek structure. Hole WPC22-18 tested the
intersection of the WPC and Illinois Creek structures and cut 103 meters of massive and semi-
massive sulfides interpreted to reflect a “feeder chimney” and a possible mineralizing fluid
upwelling zone . The three emerging mantos of high -grade silver -lead-zinc mineralization in
WPC22-22 extend the lower mineralized zone 75 meters south of WPC22-18 and suggest it
continues to thicken in that direction. This could indicate another source or mineralizing fluid
upwelling zone down dip to the south.
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Figure 1. Updated longitudinal-section down the axis of the Waterpump Creek manto showing
its position beneath the overlying schist and progressive thinning to the north from the WPC22-
18 Chimney. Note how the manto maintains very significant thickness to the south into WPC22-
22 and how the highest-grade upper part of the manto can be traced continuously for 400
meters. Note also the pyrite zone concentrated along the interpreted Illinois Creek Fault and
how late movements along the fault have allowed surface waters to infiltrate and oxidize the
pyrite and surrounding sulfides to a massive gossan.
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Figure 2. Pierce point plan map of drilling at Waterpump Creek showing the emerging shape of
the Waterpump Creek Manto and the location of the WPC22 -18 Chimney at the interpreted
intersection of the WPC Graben and the projected trend of the Illinois Creek fault. Note the
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continuation of strong manto mineralization to the south into WPC22-20 and 22 and that the
manto remains open to the south along this principal axis as well as laterally.
Plans Going Forward:
Planning for 2023 is ongoing as this year’s results are analyzed in detail . The current plan is to
drill 15,000 to 25,000 meters next season with three to five company -owned drill rigs . 2023
drilling will focus on following the Waterpump Creek high -grade manto to extend the manto
along strike with drill spacings ultimately suitable for resource modeling. Concurrently, we will
explore via drilling and geophysics the multiple similar geologic settings which have been
identified elsewhere on the property.
Greg Anderson, Executive Vice President Announces Retirement
Greg Anderson, Executive Vice President of WAM and a founding director of its predecessor
company, Western Alaska Copper & Gold Co. (“WAC&G”), has announced his intention to retire
from an active management role with the Company effective December 31, 2022. He will
continue as a Company Director and an advisor to the Company in areas of corporate strategy
and finance.
“Greg has been actively involved since the inception of WAC&G in 2010 and was particularly
valuable in the going public efforts which resulted in the successful listing of WAM on the TSX
Venture Exchange in November 2021. I want to thank Greg for all he’s contribu ted to WAC&G
and WAM”, said Kit Marrs, CEO, “and I am pleased that Greg will continue to play an important
role with the Company as an advisor and member of the Board of Directors.”
CRD Discussion
To better understand more details and the implications of WAM’s ongoing CRD exploration at
Waterpump Creek and the greater Illinois Creek District, more technical details on the project
and a brief discussion on CRD geometries, zoning, and scale is available on our website.
Qualified Person
Stuart Morris, P. Geo., is the qualified person as defined under National Instrument 43-101 that
reviewed and approved the technical disclosures in this release. Mr. Morris is an independent
consultant, Registered Geologist with the British Columbia Association of Professional Engineers
and Geoscientists (BC -APEG) No. 135066 and with the Arizona State Board of Technical
Registration No. 16289. Mr. Morris has a MS in Economic Geology and 40 plus years of
experience in mineral resources, mine, and exploration.
His review verified the data disclosed, including geology , sampling, analytical and QA/QC data
underlying the technical information in this news release, including reviewing the reports of ALS,
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methodologies, results, and all procedures undertaken for quality assurance and quality control
in a manner consistent with industry practice.
Quality Assurance/Quality Control
Quality Assurance/Quality Control of drill sample assay results are independently monitored
through a quality assurance/quality control (“QA/QC”) protocol which includes the insertion of
blind standard reference materials, blanks, and duplicates samples at regular intervals.
Core logging and sampling is completed at the Illinois Creek mine camp in Alaska. Drill core is
logged under an est ablished procedure using Geospark commercial logging software. Core
interval selected for assay are sawn lengthwise in half. One half of the core interval is bagged
and labeled for assay. The remainder is stored on site for reference. The bagged core samples
are transported to ALS facilities in Fairbanks, Alaska from Illinois Creek under a strict chain of
custody security protocol. At ALS each half-core sample is crushed and pulverized to pulps. The
pulps are then split to the appropriate measured weights for the designated analytical analysis.
The pulps are then sent to the ALS laboratory in Vancouver, Canada, for analysis. The gold
content is determined by fire assay of a 30-gram charge with an AA finish. Silver, lead, copper,
and zinc along with other elements are analyzed by ICP utilizing a four-acid digestion. Over-limit
samples for silver, lead, copper, and zinc are determined by ore -grade titration analyses. ALS
Inc. is independent of Western Alaska Minerals and its affiliates.
ALS Laboratory’s also performs its own internal QA/QC procedures to assure the accuracy and
integrity of results. Parameters for ALS’ internal and WAM’ external blind quality control
samples are acceptable for the elements analyzed. WAM is unaware of any drilling, sam pling,
recovery, or other factors that could materially affect the accuracy or reliability of the data
referred to herein.
About WAM
WAM is an Alaska and Arizona based company, listed on the TSX -V and focused on discovery of
high-grade, district -scale ore systems in the historic Illinois Creek Mining District located in
western Alaska. WAM’s 100% owned claims cover 73,120 acres (114.25 square miles or 29,591
hectares), roughly 45 km from the Yukon River. The District encompasses at least five evolving
targets containing gold, silver, copper, lead, and zinc and was originally discovered by Anaconda
Minerals Co. in the early 1980's. Since 2010, WAM , along with precursor WAC&G, has
reassembled the Anaconda property package and been engaged in exploring the District.
The Company currently has approximately 22,414,104 common shares issued and outstanding
and 238,643 proportional shares issued and outstanding. Each proportional share is convertible
to 100 common shares at the request of the shareholder and in the discretion of the Company.
Because of these conversion rights, for market capitalization and financial analysis purposes, it is
appropriate to convert the proportional shares to common shares and add the product of the
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conversion to the current number of common shares outstanding. When doi ng so, the sum of
the approximate number of common shares (22,414,104) and converted proportional shares
(23,864,300) equals 46,278,404 shares. Further information regarding the Company’s share
structure is available upon request.
On behalf of WAM
“Kit Marrs”
Kit Marrs
President & CEO
Phone: (520) 200-1667
For further information please contact:
Vanessa Bogaert, Director of Corporate Communications/IR at
Or visit our website at: www.westernalaskaminerals.com
Forward Looking Information
Certain statements made, and information contained herein may constitute "forward looking
information" and "forward looking statements" within the meaning of applicable Canadian
and United States securities legislation. These statements and information are based on facts
currently available to the Company and there is no assurance that actual results will meet
management's expectations. Forward-looking statements and information may be identified by
such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will",
"could" or "would". Forward-looking statements and information contained herein are based on
certain factors and assumptions regarding, among other things, the estimation of mineral
resources and reserves, the realization of resource and reserve estimates, metal prices, taxation,
the estimation, timing and amount of future exploration and development, capital and operating
costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title
disputes and other matters. While the Company considers its assumptions to be reasonable as
of the date hereof, forward-looking statements and information are not guaranteeing of fu ture
performance and readers should not place undue importance on such statements as actual
events and results may differ materially from those described herein. The Company does not
undertake to update any forward-looking statements or information except as may be required
by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.