Gold World Resources 2012 exploration program sets path to early cash-flow
TORONTO, July 11, 2012 /CNW/ – Gold World Resources Inc. (“GWR”) (TSXV:GDW) or (the “Company”) is pleased that it has contracted Norseman Exploration, Whitehorse to execute part of its intended 2012 exploration program by extracting a series of bulk samples beginning with a 50t sample from the Mount Anderson Yukon gold/silver, polymetallic (“Mt. A.”) Project which is to confirm grade and availability for prospective purchasers and to work towards fulfilling the terms of the Option Agreement signed 2011 to excavate and process 1,000 t of material; (please see press release February 28, 2012 regarding drilling).
Management has designed the program to suit current market conditions by taking advantage of the current strength in gold and silver prices as well as Management’s assessment of how best to explore and develop the significant high grade vein system of the Mt. A. Project which has historically been described as containing the largest gold/silver vein in the district.
Historic exploration and the results of the Company’s 2011 exploration program which identified an 8 thousand meter mineralized zone have confirmed the discovery potential of this site. Within the zone there is strong evidence of an exploitable vein system with several access points on surface which may facilitate the recovery of this resource at a reasonable cost. The budget for the program is estimated at $250,000 (not including cost of assaying. Final cost will be determined as end buyer and trucking bids are finalized).
- 2.2 t of the 2011 bagged ore from the 47-Zone have been removed. 60 samples of this ore were delivered to ACME labs in Whitehorse for analyses.
- Prospecting and backhoe excavation of the “Adanac East” soil anomaly which Dallas W. Davis, Consultant Interim V.P. Exploration (“Dallas Davis”) has targeted based on the fact that it is the highest gold anomaly found last year. The Company believes that this could be a major extension of the Adanac zone or the discovery of significant new mineralization of potential bulk minable widths.
- Follow up prospecting and hand trenching on line 35 where it crosses the Ridge Zone at which area in the 1980’s significant values of gold and silver (+6 oz/t gold and +15 oz/t silver) were found in bedrock.
- Hand trenching and portal reclamation of the upper adit where Noranda historically and in 2011 Dr. Howard Lhatisampled. Both took approximately 2900 g/t silver samples from the veins.
To be carried out immediately to set the path to early cash-flow:
- Removal of a 50 ton high-grade bulk sample (one of a series) from the 47-Zone. Material will be sacked, removed from site and crushed to minus 1/4 inch. Depending on the results from the gravity separation tests the next step would be to either produce a concentrate or sell the material as is.
Financing Options for Continued Bulk Sampling:
Larger-scale bulk sampling of the 47-Zone and other gold shoots provides an excellent opportunity for the Company to generate significant, near-term revenue for continued exploration and development. Chinese smelters expressed their interest in purchasing the material. There is the possibility that buyers would also be interested in financing.
About the Company:
The Company is a precious- and base-metals exploration company focusing on the Mount Anderson Yukon gold/silver, polymetallic Project.
ON BEHALF OF THE BOARD
Chairman & CEO
Gold World Resources Inc.
This Press Release may contain forward-looking statements (including “forward looking information” within the meaning of applicable Canadian securities legislation) related to the Company’s activities which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The Company has not undertaken any preliminary feasibility study or preliminary economic assessment with respect to the Property. Information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws. The forward-looking statements contained herein are expressly qualified by this disclaimer.
Neither the 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 press release.
For further information:
Hermann Derbuch, P.Eng.
Tel.: 416.594.9888 Fax: 416.594.1967