WCB's PNG confidence grows

EXPLORER WCB Resources has announced an initial inferred resource of 1.57 million ounces of gold and 8.5Moz silver at its Misima Island project in Papua New Guinea.
WCB's PNG confidence grows 
WCB's PNG confidence grows 
WCB's PNG confidence grows 
WCB's PNG confidence grows 
WCB's PNG confidence grows

The Toronto-listed explorer said it had reached an important milestone as it released results for Umuna Zone 1.

It follows the acquisition of Barrick Gold's exploration database for the island in late 2012, which included soil, rock and exploration drill assays.

WCB said the Umuna mineral resource estimate was based on historical data including 1945 drillholes and geological input from 144 trenches.

President and chief executive officer Cameron Switzer said: "This resource is an important milestone for our company as firstly it demonstrates the upside and potential of this project and secondly transforms WCB from a pure exploration group to a company with a potential development and commercialisation scenario.

"Importantly, as our team continue to dissect and further understand the data, our confidence level grows to support the idea that the Misima project is one of those rare tier 1 exploration plays.

"Clearly we have significant extension potential both at depth and along strike.

"Amazingly, this is just the gold project and does not include the porphyry [copper-gold-silver] project nor the Quartz mountain project, both of which continue to impress with early stage exploration results."

The company will carry out further drill testing to improve confidence of the resource.

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