Western Copper and GOLD Commences Exploration and Drilling Program at Casino
WESTERN COPPER AND GOLD COMMENCES EXPLORATION
AND DRILLING PROGRAM AT CASINO
VANCOUVER, BC
,
June 6, 2022
/CNW/ - Western Copper and Gold Corporation ("Western" or the "Company") (TSX: WRN) (NYSE
American: WRN) announces its 2022 exploration and drilling program (the "Program") at its wholly owned Casino Copper-Gold Project
("Casino").
The Program was developed in collaboration with Rio Tinto as outlined in the Investor Rights Agreement and Subscription Agreement entered
as part of an investment by Rio Tinto Canada in Western (see
news release dated
May 17, 2021
). The Program consists of several
components outlined below:
Exploration Drilling
The key exploration target for the Program will be a deep magnetotelluric ("MT") low-resistivity anomaly initially identified in 2009 by a Titan
IP-MT survey, and better defined by data reprocessing in 2018 as depicted in Figure 1 below. The anomaly trends NE-SW, is approximately
1,300 m
long and 500 m wide, and is expected to be encountered at approximately
800 m
depth in the location shown in Figure 1. An equally
extensive induced polarization ("IP") anomaly lies above and northwest of this MT anomaly. Historical drill holes that penetrated that anomaly
contained low-grade copper and gold values. A second deep drill hole, located approximately
175 m
southwest, is contingent on the results
of the first drill hole.
Enersoft Logging
The Program also involves scanning of drill core utilizing the innovative GeologicalAI robotic scanning device built by Enersoft Inc., of
Calgary
,
Alberta. The scanning includes Light Detection and Ranging ("LIDAR") scanning, X-ray fluorescence ("XRF") analysis, hyperspectral analysis,
high-resolution photography and some geotechnical analyses. The primary focus will be to continue standardization of rock types drilled
throughout all programs completed to date. Scanning will be done on approximately 50,000 m of historical drill core and the 2022 exploration
drilling targeting the MT anomaly, which will be given priority for scanning throughout the Program.
Geotechnical Drilling
The Program will also include roughly
1,500 m
of geotechnical and hydrological drilling designed by Knight-Piesold Consulting. This will target
the ground conditions of the proposed tailings management facility, proposed heap leaching and milling facilities and the new airstrip. In
addition, several test pits are planned for the proposed heap-leach area.
"We are excited to launch our 2022 exploration and drilling program.", said
Paul West-Sells
, President and CEO, "The deep MT anomaly is a
target that we've wanted to drill for a number of years, and the geotechnical program will be key to the development of our ESE statement,
on track for submission next year."
Figure 1: Pseudo 3-D views, looking southwest, of the MT and IP anomalies based on the 2018 reprocessing of data collected by a 2009
Titan IP-MT survey (CNW Group/Western Copper and Gold Corporation)
COVID-19 Policy
The health and safety of our employees, contractors, visitors, and the communities in which we operate are paramount. To that end, we have
implemented a COVID-19 policy to reduce the spread of COVID-19 at our exploration camp, and in the Yukon. We will continue to follow the
guidance issued by the Federal and Territorial governments for the operation of remote camps and mining operations. All of our policies can
be found on our website, at
https://casinomining.com/about-us/casino-site-policies/
.
Technical information in this news release has been reviewed and approved by
Carl Schulze
, P.Geo, and a 'Qualified Person' as defined
under Canadian National Instrument 43-101.
ABOUT WESTERN COPPER AND GOLD CORPORATION
Western Copper and Gold Corporation is developing the Casino Project,
Canada's
premier copper-gold mine in the
Yukon Territory
and one
of the most economic greenfield copper-gold mining projects in the world. For more information, visit
www.westerncopperandgold.com
.
On behalf of the board,
"Paul West-Sells"
Dr.
Paul West-Sells
President and CEO
Western Copper and Gold Corporation
Cautionary Disclaimer Regarding Forward-Looking Statements and Information
This news release contains certain forward-looking statements concerning anticipated developments in Western's operations in future
periods. Statements that are not historical fact are "forward-looking statements" as that term is defined in
the United States
Private
Securities Litigation Reform Act of 1995 and "forward looking information" as that term is defined in National Instrument 51-102 ("NI 51-
102") of the Canadian Securities Administrators (collectively, "forward-looking statements"). Forward-looking statements are frequently, but
not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar
expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. These forward-looking
statements may include, but are not limited to, statements regarding perceived merit of properties; mineral reserve and resource estimates;
capital expenditures; feasibility study results (including projected economic returns, operating costs, and capital costs in connection with the
Casino Project); exploration results at the Company's property; budgets; permitting or other timelines; economic benefits from the mine
and/or the access road; strategic plans; market price of precious and base metals; or other statements that are not statement of fact. In
making the forward-looking statements herein, the Company has applied certain material assumptions including, but not limited to, the
assumptions that the circumstances surrounding the COVID-19 pandemic, although evolving, will stabilize or at least not worsen; that the
extent to which COVID-19 may impact the Company, including without limitation disruptions to the mobility of Company personnel,
increased labour and transportation costs, and other related impacts, will not change in a materially adverse manner; that all regulatory
approvals required to complete the Company's planned exploration and development activities will be received in a timely manner and on
acceptable terms; that the Company is able to procure personnel, equipment and supplies required for its exploration and development
activities in sufficient quantities and on a timely basis; and that general business conditions will not change in a materially adverse manner.
Forward-looking statements are statements about the future and are inherently uncertain, and actual results, performance or achievements
of Western and its subsidiaries may differ materially from any future results, performance or achievements expressed or implied by the
forward-looking statements due to a variety of risks, uncertainties and other factors. Such risks and other factors include, among others,
risks involved in fluctuations in gold, copper and other commodity prices and currency exchange rates; COVID-19 risks to employee health
and safety and a slowdown or temporary suspension of operations in geographic locations impacted by an outbreak; uncertainties related
to raising sufficient financing in a timely manner and on acceptable terms; and other risks and uncertainties disclosed in Western's AIF and
Form 40-F, and other information released by Western and filed with the applicable regulatory agencies.
Western's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are
made, and Western does not assume, and expressly disclaims, any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities
legislation. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.
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For further information:
Sandy Noyes, Director, Investor Relations, 604.638.2520 or [email protected]
CO: Western Copper and Gold Corporation
CNW 06:05e 06-JUN-22