Westcore Energy Ltd a capital pool company, is pleased to announce preliminary drilling results in respect of the Manitoba portion of the properties that it has agreed to acquire as its Qualifying Transaction. Accompanying this news release is a map which shows the properties upon which the coal permits that Westcore has agreed to acquire apply. The Total acreage of the land that is the subject of these permits is approximately 200,835 acres with approximately 48,036 acres being in Manitoba and approximately 152,799.22 acres being in Saskatchewan. On behalf of the Vendors of such properties, Mr. William MacNeill has advised Mr Paul Conroy President of Westcore, that a preliminary drilling campaign has been commenced on the Black Diamond property in Manitoba, immediately east of the Goldsource Mines Inc. Border Property and has resulted in a new coal zone discovery.
Mr MacNeill advises that hole number one was the discovery hole and intersected a 33.0 meter coal zone at a depth of 29.6 meter from surface. A Total of 5 NQ size holes were drilled for a Total of 377.3 meters until spring breakup regulations halted drilling activity.
The second hole was drilled approximately 250 meters north-northwest of the discovery hole and intersected a coal zone immediately below the overburden from 22.4 to 31.4 meters for a true thickness of 9.0 meters.
The third hole was drilled approximately 250 meters due south of the discovery hole and hit the same coal zone, from 25.8 to 51.5 meters depth for a true thickness of 25.8 meters including minor sandy partings.
The fourth and fifth holes were drilled approximately 300 meter east and 250 meters north of the discovery hole respectively. No coal was intersected in these holes.
Mr. Conroy stated that "we are very pleased and appreciative of the work conducted to date by the Vendors and we are thrilled to hear of these preliminary results from the Manitoba property. In anticipation of completing the acquisition of these permits in early May, we will be planning additional summer exploration programs on the Saskatchewan properties located immediately north and south of the Goldsource Mines Inc. Border project. Several high priority coal targets on the Saskatchewan properties have been identified from a Fugro airborne geophysical survey and we are excited to examine those and further develop our understanding of the overall area geology. We will also plan on going back into the Manitoba Black Diamond property to continue the exploration program there that the Vendors have commenced as soon as conditions permit."
The coal is black, shiny to dull, and appears to be consistent with the descriptions of the subbituminous/bituminous coal descriptions reported by Goldsource Mines Inc. Initial identification of the coal zones and Total coal thickness described in this news release is based on visual characteristics. The Corporation cautions against placing undue reliance on the visual observations of the coal until the results of the analytical work have been completed and announced. The Vendors have advised that they expect to submit forty core samples to Loring Labs in Calgary for initial proximate analyses. The results of that analysis will be reported when received.