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Walker Announces Drill Results From the Lapon Gold Project

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/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, British Columbia, Aug. 18, 2021 (GLOBE NEWSWIRE) -- Walker River Resources Corp. (“Walker” or the “Company”) (TSX-V: “WRR”) is pleased to announce additional drill results from the 2021 reverse circulation (“RC”) drill programs at its 100% owned Lapon Gold Project located approximately 60 kilometres southeast of Yerington, Nevada.

RC drill hole LC 21-65 returned 3.45 g/t Au over 30.5 meters from a depth of 33.5 meters. This is a very significant hole as it was drilled approx. 150 meters from the nearest intercept. It also includes a higher-grade intercept of 9.65 g/t Au over 1.5 meters, which appears to be on strike with the high-grade corridor located approx. 500 meters to the west.

RC drillhole LC 21-61 returned 1.22 g/t Au over 7.6 meters from surface. This hole is significant as it demonstrates mineralization in granite.

Key Highlights:

  • The drilling results expand the gold mineralization at Lapon Canyon, further define the direction and dip of the higher-grade structures, and expanded gold mineralization both laterally and to depth as shown in drill hole LC 21-65.

  • LC 21-60 was designed to determine the possible extension of the higher-grade mineralization corridor discovered at Lapon. The corridor does deflect and warp along dip and strike (azimuth). It is believed that the higher-grade intercept in the hole at the target depth of 44 meters (1.5 meters of 9.32 g/t Au) represents the leading edge of the high-grade corridor. In addition, at a depth of 55 meters, we had no recovery of sample over 3.5 meters, which is often indicative of intense fracturing, prevalent in the high-grade structures at Lapon.

  • The drill program is designed to ascertain granite contacts and their relationships with the altered gold mineralized alteration zones. We continue to intercept gold assay results in what was previously believed to be barren granite, as evidenced in drill holes LC 21-56 to 61.

  • The 2021 drill program will continue to target the higher-grade trends and expand the new gold mineralization previously discovered at the 8800-foot elevation, at the Honeypot, Holes LC19-42 and 43, the lateral extension of LC 21-65, among other targets at Lapon Canyon.

  • The 2020-2021 drill programs at Lapon Canyon consist of systematic drilling on section for geological modelling purposes, as well as exploration drilling to discover new gold mineralization and extend known gold mineralization.

Assay Table: Summary of Drill Results:

Hole

From
(m)

To
(m)

Length**
(m)

Assay (Au g/t)

Notes:

LC 21-65

13.7

68.5

54.8

1.88

Incl

33.5

64

30.5

3.45

incl

33.4

35

1.5

9.65

LC 21-60

27.4

45.7

18.3

1.63

Incl

44.2

45.7

1.5

9.32

LC 21-59

38.1

51.8

13.7

1.54

LC 21-61

0

7.6

7.6

1.22

Granite

LC 21-56

44.2

57.9

13.7

.884

54.9

57.9

3

1.68

Granite

**True widths approx. 75-80%

The above drill assays are not necessarily in chronological drilling order, results are reported as received.

Drillholes LC 61–63 were granite at the footwall contact of the unaltered granite with the faulted/mineralized material, in the granitic transition zone between each. Significantly, LC 21- 61 returned
1.22 g/t Au over 7.6 meters from surface.

Assays are pending from drillholes LC 21-64, and 66 – 72. Further results will be released as they become available

To date the Company has received assay results from 64 drillholes at the Lapon Project. Of these, 19 returned significant higher grades, 19 returned significant lower grades, 13 were carried out in unaltered granite, and 9 were lost/abandoned.

Historical Drill Highlights (previously announced) from significant high grade drill holes include:

  • 7.84 g/t Au over 22.9 m in LC 15-02 incl 66.8 g/t over 1.5 m, and 43.7 g/t over 1.56 m

  • 48.02 g/t over 13.7 m in LC 16-10 incl 451 g/t over 1.5 m

  • 77.62 g/t over 12.2 m in LC 16-10 incl 227g/t over 1.5 m, 207 g/t over 1.5 m and 106 g/t over 1.5 m

  • 39.12 g/t over 9.2 m in LC 16-12 incl 201g/t over 1.5 m

  • 32.07 g/t over 6.1 m in LC 17-19 incl 53.4 g/t over 1.5 m

  • 31.1 g/t over 13.7 m in LC 18-29 incl 198 g/t over 1,5 m and 78.1 g/t over 1.5 m

  • 96.03 g/t over 13.7 m in LC19-42 incl 547 g/t over 1.5m, 115 g/t over 1.5 m, and 199 g/t over 1.5 m

  • 94.g/t over 6.1 m in LC 19-43 incl 305 g/t over 1.5 m and73.8 g/t over 1.5m

  • 1.04 g/t over 59.5 m in LC 20-53

The gold mineralization at Lapon Canyon is contained in a wide (300 meters), long (over 4km strike length), intensely altered (sericite, iron oxides) sheared and faulted NE trending zone. Gold mineralization is present pervasively throughout as an envelope of lower grade mineralization (0.5 to 2.0 g/t Au) enveloping distinct high-grade structures, that have been drilled over a strike length of over 800 meters and a vertical extent of 400 meters.

The high-grade gold mineralization is encountered in discrete, traceable zones located at the intersection of flat lying porphyry dikes and vertical stockwork fracture chimneys.

The present drill program at the Lapon Canyon portion of the Project, will continue to consist of systematic drilling on section for geological modelling purposes, as well as exploration drilling to discover new gold mineralization and extend known gold mineralization. A further 40 holes are scheduled and planned at Lapon Canyon. Drilling is scheduled to get underway in late September.

Finally, the Company has received approval from the U.S. Bureau of Land Management (the“BLM”) for its Notice of Intent (the“NOI”) exploration permit to conduct for drilling on the Pikes Peak portion of the Lapon Gold Project. The Company has bonded for 10 drill pads. Significant historical mining activities and numerous milling facilities are present on the property, in what appears to be a copper-gold setting. Previous sampling by the Company returned values of 9 g/t Au and 2.20% Cu in outcrops. Drilling is also scheduled to begin here in late September.

About the Lapon Gold Project

The Lapon Gold Project consists of 147 claims (2940 acres) situated in the Wassuk Range, within the Walker Lane shear zone, a 100 km wide structural corridor extending in a southeast direction from Reno, Nevada. The Project is easily accessible by secondary state roads from the main highway (25 kilometres), and is located approximately 60 kilometres southeast of Yerington, Nevada. A state power grid transmission line passes within three kilometres of the Project.

The Lapon Gold Project includes Lapon Canyon, the Pikes Peak claims located 4 kilometres to the north, and the Rattlesnake and Range Front claims 3 kilometres to the west and over 600 meters lower than the present drilling at Lapon Canyon. The Rattlesnake, Range Front, and Pikers Peak claims cover over 8 km of possible extensions of the range front zones to the west, north, and south of Lapon Canyon, adding several additional drill target areas to the project. Rattlesnake and Pikes Peak contain numerous historical mining and milling areas that consist of adits at different levels, shafts and underground workings, and a network of existing roads providing access throughout. Little or no exploration work has been carried out on these claims prior to Walker’s arrival. It is notable that the Rattlesnake area and adits are on strike with the Lapon Canyon discoveries located 3 km on strike and 600 meters above.

Lapon Canyon hosts historical high grade gold mining with approximately 2000 feet of undergoing workings in three adits. Historical underground work returned numerous assay values in the one ounce per ton range, with a sample at the end of the A adit returning 20.6 ounces per ton Au. (NI43-101, Montgomery and Barr, 2004).

Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance

All sampling was conducted under the supervision of the Company's project geologists and the chain of custody from the drill to the sample preparation facility was continuously monitored. A blank or certified reference material was inserted approximately every tenth sample. The Lapon Canyon samples were delivered to American Assays Laboratories’ certified laboratory facilities in Sparks, NV. The samples were crushed, pulverized and the sample pulps digested and analyzed for gold using fire assay fusion and a 50g gravimetric finish. Intensely altered samples used a 2 kg pulp screened to 100 microns. Duplicate assay on screen undersize. Assay of entire oversize fraction.

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by E. Gauthier, geol., Eng (OIQ) a director of the Company, and a Qualified Person as defined by NI 43-101, Standards of Disclosure for Mineral Projects.

ON BEHALF OF THE BOARD OF DIRECTORS

“Michel David”
________________________
Michel David,
Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT:

Walker River Resources Corp.
Tel: 819 874-0030
Fax: 819 825-1199
Email: info@wrrgold.com
Website: www.wrrgold.com

Neither TSX Venture Exchange Nor Its Regulation Service Provider (As That Term Is Defined In The Policies Of The TSX Venture Exchange) Accepts Responsibility For The Adequacy Or Accuracy Of This News Release.


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