The Quantec Report, as well as the Summary thereof, will be filed by the Company on its profile on SEDAR.
The Quantec Report will enable investors to assess the findings of that magnetotelluric survey and the targets for future mineral exploration identified by that report,' commented
The survey was conducted over project areas including (i) one line over a target 1 kilometer ('km') to the northeast of the Black Horse chromite deposit and (ii) four lines over a target 2 to 4 km to the northeast of the Black Horse chromite deposit. Both targets are defined by coincidental gravity and magnetic anomalies supported by multiple drilling intercepts of secondary chromite within the shear zone known as Frank's Fault. The survey results over the area which has an abundance of drilling surrounding the Black Horse Chromite deposit clearly distinguished the ultramafic host rock, known as the Ring of Fire intrusion, from the enclosing country rock, permitting the results from the two target areas to be interpreted with confidence. The premise for the survey was the discovery during the 2013 and 2014 drilling campaigns that the Black Horse chromitite did not come to surface, possibly as a result of being truncated by Frank's Fault, and that it is likely that this pattern repeats itself elsewhere on the property. As a magnetotelluric survey is capable of mapping different rock types to relatively unlimited depths and, as such, could detect altered ultramafic rock that contains chromitite, the purpose of the magnetotelluric survey was to confirm the existence at depth of the Ring of Fire intrusion and identify targets for further exploration seeking mineralized areas containing chromitite, possibly the fault offset counterpart to the Black Thor deposit.
The magnetotelluric survey was conducted on a grid consisting of four northwest trending, 5km long lines covering the area postulated to contain the fault offset twin of the Black Thor chromite deposit. Those grid lines cover a northeast strike distance of 1.5 km at the confluence of the
The ranges for the potential quantity and mineralization of these target areas are conceptual in nature. The potential mineralization and quantities described above have been determined on the basis of the analysis referred to and outlined in this news release. There has not been sufficient exploration to define a mineral resource and it is uncertain whether further exploration will result in any of the target areas being delineated as a mineral resource.
About KWG
KWG is the owner of 100% of the Black Horse chromite project (formerly part of Fancamp's 'Koper Lake-McFaulds' properties) in which
Contact:
Tel: 416-642-3575
Email: info@kwgresources.com
Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and KWG 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 expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.
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