Western Pacific Acquires Nizi Property in Northwest B.C.
Suite 550– 800 West Pender | Vancouver, BC | V6C 2V6
TSX-V: WRP
Western Pacific Acquires Nizi Property in Northwest B.C.
Vancouver, British Columbia – January 28th 2019: Western Pacific Resources Corp. (“Western Pacific” or the “Company”) (TSXV: WRP) today announced the acquisition of an option to earn a 100% interest in the Nizi Property located 80 kilometres northeast of the community of Dease Lake in British Columbia.
Property Description
Six main zones of high-grade gold-silver vein-hosted mineralization have been outlined to date over a northwesterly elongated area 2 kilometers long by 1 kilometer wide. The Discovery Vein / Surprise Vein is the most advanced prospect on the property with previous chip samples yielding 27.1 g/t Au plus 1,221 g/t Ag over 2.0 m and 15 g/t Au plus 1,073 g/t Ag over 3.5 m.
Limited drilling on this zone in the mid-1990’s confirmed the surface assays and yielded: 5.19 g/t Au over 13.77 m; 3.54 g/t Au and 49.1 g/t Ag over 6.1 m; 37.3 g/t Au and 693 g/t Ag over 1.5; 65 g/t Au and 1,909 g/t Ag over 0.3 m.
The Cry Lake epithermal gold-silver occurrences are hosted in a suite of sub-aerially erupted Eocene volcanic rocks which have only recently been recognized in the region. As a result, the Cry Lake area has seen relatively minor exploration compared to other well-known epithermal districts in British Columbia.
The Agreement
The Company can earn a 100% interest from an arm's-length third party, by making cash payments of $310,000, issuing 200,000 shares of “WRP” and completing exploration work commitments totaling $ 2 million dollars by October 15th 2022.
The property is subject to a 2.5% NSR of which a 1% NSR may be re-purchased for a cash payment of $2,000,000.00. The property is also subject to an Annual Advance Royalty payment commencing June 15th, 2022.
On behalf of the Board,
‘Jeff Sundar’
Jeff Sundar President and Chief Executive Officer
For more information visit the Company’s website at www.westernpacificreasources.com or via email at [email protected] or telephone at 604 646-8356.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain “forward-looking statements” within the meaning of Canadian securities legislation
relating to the Share Consolidation. Although the Company believes that such statements are reasonable, it can give no
assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical
facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends,"
"estimates," "projects," "aims," and similar expressions, or that events or conditions "will," "would," "may," "can," "could"
or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-
looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements
are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements
will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Except to the extent required by applicable securities laws, the Company undertakes no obligation to update these forward-
looking statements if management's beliefs, estimates or opinions, or other factors, should change.