Walker River Announces Additional Drill Results From the Lapon Gold Project

Vancouver, B.C. February 1, 2023 – Walker River Resources Corp. (“Walker” or the “Company”) (TSX-V: “WRR”) is pleased to announce drill results from the late 2022 reverse circulation (“RC”) drill program at the 100% owned Lapon Gold Project located approximately 60 kilometres southeast of Yerington, Nevada.

Drilling continues to confirm mineralization at Lapon Canyon and extend the Hotspot zone. At total of ten (10) holes were drilled here, including seven (7) at the new Hotspot zone, discovered during 2022.

RC Drill hole LC 22-92 returned 1.65 g/t Au over 97.6 meters at a depth of 24.4 meters including 26.95 g/t Au over 3 meters from a depth of 57.9 meters.

RC Drill hole LC 22-94 returned 1.10 g/t Au over 73.2 meters at a depth of 32 meters.

RC Drill hole LC 22-93 returned 1.25 g/t Au over 24.4 meters at a depth of 39.6 meters.

RC Drill hole LC 22-91 returned 1.05 g/t Au over 35.5 meters at a depth of 27.4 meters.

Key Highlights

  • Drilling has extended the Hotspot zone along strike (laterally), depth and width.
  • The robust nature and continuity of the gold mineralized alteration zone is evidenced by the length of the drill intercepts at the Hotspot zone.
  • The sub to horizontal nature of the Hotspot zone is confirmed by these recent drill results.
  • Previously drilled holes LC 20-35 (1.35 g/t over 22.9 meters) and LC 21-67 located some 100 meters NW of the new Hotspot zone confirmed its discovery.
  • Drill holes showing lower anomalous gold mineralization (300-800ppb) are significant in indicating the presence of potential higher-grade mineralization nearby.
  • The 2023 drill programs at Lapon Canyon will now consist of systematic drilling on section for geological modelling purposes, exploration drilling to discover new gold mineralization, extension of known gold mineralization, in several directions, including now at depth.
  • This recent drill program demonstrated the feasibility of drilling multiple holes from the same drill pad set up, saving time and costs.

Assay Table: Summary of Drill Results:

Hole  From

(m)

To

(m)

Length*

(m)

Assay (Au g/t)
LC 22-92 24.4 122 97.6 1.65
incl 57.9 60.9 3.0 26.95
LC 22-94 32 105.2 73.2 1.05
LC 21-91 27.4 60.9 33.5 1.05
LC 22-93 39.6 64 24.4 1.25
LC 22-95 62.5 67 4.5 1.28

* The above drill results are presented with lengths representing sampled lengths. True width is estimated to be between 65 and 90 percent of sampled widths.

This present drilling has extended the strike length and width of the Hotspot zone. The intercepts reported are a minimum of 60 meters apart. Drill holes LC 22- 90 to LC 22-96 were completed from two drill pads, located some 40 meters above and 50 meters away from the Hotspot discovery drill pad (LC 21-80 to LC21-82). Results have also shown that the zone has migrated slightly to the SE.

Three drill holes LC 22-87 to LC 22-89, were drilled at the far northern contact with the mineralized alteration zone, approximately 400 meters away from the Hotspot zone, located at the southern region of the mineralized zone. These holes were designed for geological reconnaissance purposes. Notwithstanding, significant anomalous gold values were encountered in granite here.

It is notable that historical workings are present approximately 100 meters above these holes. Hole LC 22-88 was lost at 30 meters. Hole LC 22-90 was lost 35 meters down but did return 0.89 g/t over 7 meters.

Drilling in 2023 will focus on extending strike, width and depth of the Hotspot zone. Drilling across the alteration zone between the area of Holes LC 22-87-89, the Hotspot zone, including, previous discoveries at Holes LC 19-42 and LC 19-43.

The gold mineralization at Lapon Canyon is contained in a wide (over 300 meters), long (over 4 km strike length) intensely altered (sericite, iron oxides) sheared and faulted NE trending fault zone. Gold mineralization is present pervasively throughout as an envelope of lower grade mineralization (0.5 to 2.0 g/t Au) enveloping distinct high-grade structures that have been drilled over a strike length of over 850 meters and a vertical extent of 400 meters. The high-grade gold mineralization is encountered in discrete, traceable zones located at the intersection of flat lying porphyry dikes and vertical stockwork chimneys.

Pikes Peak Exploration

The Company completed its initial RC drill program at the Pikes Peak portion of the Lapon Gold Project (located approximately 4 km north of Lapon Canyon). There are no previously reported drill holes, or any modern data available from the extensive historical mine working at Pikes Peaks.

The initial RC drill program was designed for geological reconnaissance, to determine geological parameters and develop mineralization targets for the next drill program here in 2023. However, unexpected significant gold mineralization was encountered at the bottom of PP 22-01. This hole was planned to be drilled to the 300-meter level but was abandoned due to extensive fracturing and ground water at 107 meters.  PP 22-01 returned 0.946 g/t Au over 10.6 meters from 96 to 107 meters.

Most notably, the final 4.5 meters returned 1.5 g/t with the final assay at the bottom returning 1.93 g/t over 1.5 meters at 107 meters down. Finally, this interval was contained within unaltered granite, and may represent a major fault zone.

This initial 2022 RC drill program was hampered by drill rig breakdowns, extensive technical drilling issues with ground water, loose broken ground, and the inability of the drill crew to successfully mud any of the holes in order to reach the drill holes targeted depths. A total of seven holes were drilled, with four (4) of the seven (7) holes unable to reach their targeted depths.

The Company has analyzed this recent drilling and sourced a more appropriate type of drill rig to use at the Pikes Peak Project successfully and efficiently. The drilling methods will be modified to surmount these difficulties, which are common in Nevada.

Access to the underground workings is currently unavailable due to minor cave-ins and loose material at the entrances (Portals). The Company plans to open and rehabilitate certain of these Portals in 2023, enabling access to the underground workings for geological purposes of determining rock types, structure, dip and delineation of such. This geological data compiled with the results from the initial 2022 RC drill program will greatly assist in determining geological parameters and developing mineralization targets for the next drill program here in 2023.

Significant historical mining activities are present (shafts, adits, mill) in a copper gold environment at Pikes Peak. Sampling by Walker returned values of 9 g/t Au, and 2.2% Cu from outcrop. It is significant that until Walker’s arrival, there are no reported modern-day drilling or exploration activities from Pikes Peak.

About the Lapon Gold Project

The Lapon Gold Project consists of 147 claims (2940 acres) situated in the Wassuk Range, within the Walker Lane shear zone, a 100 km wide structural corridor extending in a southeast direction from Reno, Nevada. The Project is easily accessible by secondary state roads from the main highway (25 kilometres), and is located approximately 60 kilometres southeast of Yerington, Nevada. A state power grid transmission line passes within three kilometres of the Project.

The Lapon Gold Project includes Lapon Canyon, the Pikes Peak claims located 4 kilometres to the north, and the Rattlesnake and Range Front claims 3 kilometres to the west and over 600 meters lower than the present drilling at Lapon Canyon. The Rattlesnake, Range Front, and Pikers Peak claims cover over 8 km of possible extensions of the range front zones to the west, north, and south of Lapon Canyon, adding several additional drill target areas to the project. Rattlesnake and Pikes Peak contain numerous historical mining and milling areas that consist of adits at different levels, shafts and underground workings, and a network of existing roads providing access throughout.  Little or no exploration work has been carried out on these claims prior to Walkers arrival. It is notable that the Rattlesnake area and adits are on strike with the Lapon Canyon discoveries located 3 km on strike and 600 meters above.

Lapon Canyon hosts historical high grade gold mining with approximately 2000 feet of undergoing workings in three adits. Historical underground work returned numerous assay values in the one ounce per ton range, with a sample at the end of the A adit returning 20.6 ounces per ton Au. (NI 43-101, Montgomery and Barr, 2004).

Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance

All sampling was conducted under the supervision of the Company’s project geologists and the chain of custody from the drill to the sample preparation facility was continuously monitored. A blank or certified reference material was inserted approximately every tenth sample. The Lapon Canyon samples were delivered to American Assays Laboratories’ certified laboratory facilities in Sparks, NV. The samples were crushed, pulverized and the sample pulps digested and analyzed for gold using fire assay fusion and a 50g gravimetric finish. Intensely altered samples used a 1 kg pulp screened to 100 microns. Duplicate assay on screen undersize. Assay of entire oversize fraction.

Samples are taken and bagged directly at the drill rig at every 1.5-meter interval, standard in the exploration industry. A small sample is also taken at the drill rig and put into a chip tray for examination purposes and to determine those sample bags that should be sent to the lab for assay purposes. Often this work is carried out using a microscope for the examination of the rock chips. The full sample bag from the interval chosen for assay purposes is then sent directly from the drill site to the lab, located in Sparks, NV.

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by E. Gauthier, geol., Eng (OIQ) a Qualified Person as defined by NI 43-101, Standards of Disclosure for Mineral Projects.

ON BEHALF OF THE BOARD OF DIRECTORS

 

Michel David,

Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT:

Walker River Resources Corp.
Tel: 819 874-0030
Fax: 819 825-1199
Email: info@wrrgold.com
Website: www.wrrgold.com

Neither 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 News Release. We seek Safe Harbor.

Cautionary Statements Regarding Forward Looking Information: Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding Walker’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Walker will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including Walker’s results from exploration or review of properties that Walker does acquire. These forward-looking statements are made as of the date of this news release and Walker assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.

Walker Updates Drilling Program at the Lapon Gold Project

Vancouver, B.C.  November 3, 2022 – Walker River Resources Corp. (“Walker” or the “Company”) (TSX-V: “WRR”) is pleased to provide an update on its reverse circulation (“RC”) drill program at the 100% owned Lapon Gold Project located approximately 60 kilometres southeast of Yerington, Nevada.

 A total of seventeen (17) drill holes were completed at the Lapon Gold Project. Sample preparation of the drill holes has been finalized, with over 1300 samples submitted to certified laboratory facilities in Sparks, NV.

Seven (7) RC drill holes were drilled at the Pikes Peak portion of the Lapon Gold Project. Of these, two were abandoned in poor rock conditions consisting of intense shearing, fracturing and the abundance of water encountered within the holes.

These RC drill holes represent the first recorded modern drilling at Pikes Peak. This initial drill program was designed for geological purposes to determine rock types, geometry, structure, and the potential for gold and copper mineralization.

Significant historical mining activities are present at Pikes Peak (shafts, adits, mill) in a copper – gold environment. Previous sampling (see news release 9/04/2019) by Walker returned values of 9 g/t Gold and 2.2% Copper from bedrock. Geological mapping and surveying also revealed the presence of quartz monozonite porphyry, very significant for the emplacement of copper gold mineralization in Nevada and elsewhere. The historical underground workings at the Pikes Peak Project are currently inaccessible, due to cave-ins and unstable ground.

Ten (10) holes were carried out at the Lapon Canyon portion of the Lapon Gold Project. Primarily on  continued drill exploration at the Hotspot area, located 200 meters above and 250 meters on strike SE of the historic mine workings, and high – grade drilling intercepts from Walker’s previous drilling (see Walker’s previous news release from 2016 to 2022).

Significant drill results were encountered at the Hotspot zone, including 7.62 g/t Au over 48.8 m in LC 21-80, 5.68 g/t Au over 60.9 m in LC 21-81 and 1.84 g/t Au over 122 m in LC 21-84, (see news release 03/31/2022) among other significant drill results from this specific area of the Project.

The Hotspot Zone appears to be flat lying (sub horizontal to horizontal), analogous to Basin and Range thrust faulting. For these reasons, drilling appears it can be carried out in different directions (azimuth) from the same drill pad, with multiple holes drilled from one drill set up, often in a fan shaped pattern.

The current drill program was designed to test the feasibility of drilling multiple holes from the same drill set up, for systematic drilling on section. Drilling was successful in this regard, with the completion of        10 holes from three drill pads. This, combined with the geometry of the mineralized zone, will allow Walker to carry out systematic drilling on section with pads placed at every 30 meters or so, and up to five (5) drill holes per drill pad.

The Hot Spot area’s topography and steepness of the mountain is less severe, allowing for simpler, faster drill access construction, set up and drilling. The mineralization is not visible at surface, as it is overlain by approximately 3 meters of loose colluvium, making drill road access and pad construction quicker at less cost. Additional drill access road and pad construction has been completed for future drill programs.

Assays are pending from the above Lapon Gold Project RC drill program’s recently submitted samples, results will be released as they become available.

About the Lapon Gold Project

The Lapon Gold Project consists of 147 claims (2940 acres) situated in the Wassuk Range, within the Walker Lane shear zone, a 100 km wide structural corridor extending in a southeast direction from Reno, Nevada. The Project is easily accessible by secondary state roads from the main highway (25 kilometres), and is located approximately 60 kilometres southeast of Yerington, Nevada. A state power grid transmission line passes within three kilometres of the Project.

The Lapon Gold Project includes Lapon Canyon, the Pikes Peak claims located 4 kilometres to the north, and the Rattlesnake and Range Front claims 3 kilometres to the west and over 600 meters lower than the present drilling at Lapon Canyon. The Rattlesnake, Range Front, and Pikers Peak claims cover over 8 km of possible extensions of the range front zones to the west, north, and south of Lapon Canyon, adding several additional drill target areas to the project. Rattlesnake and Pikes Peak contain numerous historical mining and milling areas that consist of adits at different levels, shafts and underground workings, and a network of existing roads providing access throughout.  Little or no exploration work has been carried out on these claims prior to Walker’s arrival. It is notable that the Rattlesnake area and adits are on strike with the Lapon Canyon discoveries located 3 km on strike and 600 meters above.

Lapon Canyon hosts historical high grade gold mining with approximately 2000 feet of undergoing workings in three adits. Historical underground work returned numerous assay values in the one ounce per ton range, with a sample at the end of the A adit returning 20.6 ounces per ton Au. (NI43-101, Montgomery and Barr, 2004).

Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance

All sampling was conducted under the supervision of the Company’s project geologists and the chain of custody from the drill to the sample preparation facility was continuously monitored. A blank or certified reference material was inserted approximately every tenth sample. The Lapon Canyon samples were delivered to American Assays Laboratories’ certified laboratory facilities in Sparks, NV. The samples were crushed, pulverized and the sample pulps digested and analyzed for gold using fire assay fusion and a 50g gravimetric finish. Intensely altered samples used a 1 kg pulp screened to 100 microns. Duplicate assay on screen undersize. Assay of entire oversize fraction.

Samples are taken and bagged directly at the drill rig at every 1.5-meter interval, standard in the exploration industry. A small sample is also taken at the drill rig and put into a chip tray for examination purposes and to determine those sample bags that should be sent to the lab for assay purposes. Often this work is carried out using a microscope for the examination of the rock chips. The full sample bag from the interval chosen for assay purposes is then sent directly from the drill site to the lab, located in Sparks, NV.

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by E. Gauthier, geol., Eng (OIQ) a Qualified Person as defined by NI 43-101, Standards of Disclosure for Mineral Projects.

ON BEHALF OF THE BOARD OF DIRECTORS

 

“Michel David”

________________________
Michel David,

Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT:

 

Walker River Resources Corp.

Tel: 819 874-0030

Fax: 819 825-1199

Email: info@wrrgold.com

Website: www.wrrgold.com

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 release.

Cautionary Statements Regarding Forward Looking Information

This news release contains certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements in this news release relate to, among other things, closing of the Private Placement, receipt of all necessary approvals in connection therewith, and use of proceeds of the Private Placement. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, social and regulatory uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, an inability on the part of the Company to obtain TSX Venture Exchange acceptance of the Private Placement and management’s discretion to reallocate the use of proceeds. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

Walker Announces Closing of Private Placement

Vancouver, B.C. September 28, 2022 – Walker River Resources Corp. (“Walker” or the “Company”) (TSX-V: WRR) is pleased to announce that, further to its news release of September 26, 2022, it has closed its non-brokered private placement offering today with the issuance of a total of 2,500,000 units (the “Units”) of the Company at a price of $0.25 per Unit for proceeds of $625,000.00 (the “Private Placement”).

Each Unit consists of one common share (“Share”) in the capital of the Company and one Share purchase warrant (“Warrant”), whereby each Warrant is exercisable into an additional Share for a period of 24 months from the date of issuance at an exercise price of $0.30.

All securities issued in connection with the Private Placement are subject to a statutory four-month hold period, expiring January 29, 2023, in accordance with applicable securities legislation. Completion of the Private Placement remains subject to receipt of applicable regulatory approvals, including final acceptance by the TSX Venture Exchange.

Proceeds of the Private Placement will be used for work on the Company’s mineral properties and general working capital.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

ON BEHALF OF THE BOARD OF DIRECTORS

 

“Michel David”

________________________
Michel David,

Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT:

 

Walker River Resources Corp.

Tel: 819 874-0030

Fax: 819 825-1199

Email: info@wrrgold.com

Website: www.wrrgold.com

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 release.

Cautionary Statements Regarding Forward Looking Information

This news release contains certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements in this news release relate to, among other things, closing of the Private Placement, receipt of all necessary approvals in connection therewith, and use of proceeds of the Private Placement. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, social and regulatory uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, an inability on the part of the Company to obtain TSX Venture Exchange acceptance of the Private Placement and management’s discretion to reallocate the use of proceeds. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

Walker Begins Drilling at the Lapon Gold Project

Vancouver, B.C. September 27, 2022 – Walker River Resources Corp. (“Walker” or the “Company”) (TSX-V: “WRR”) is pleased to announce that reverse circulation (“RC”) drilling has re-started at the Lapon Gold Project, located some 60 km SE of Yerington, Nevada.

Drilling started at the Pikes Peak portion of the Lapon Project, a seven-to-ten-hole program is planned here. Significant historical mining activities are present at Pikes (shafts, adits, mill) in a copper and gold environment. A previous regional sampling and prospecting program by Walker returned values of 9 g/t Au and 2.2% Cu from bedrock. (see news release 9/04/2019)

Geological mapping and surveying also revealed the presence of a quartz monozonite porphyry, very significant for the emplacement of copper and gold mineralization in Nevada. It is notable that no reported modern drilling or geological exploration activities exist on the Pikes Peak claims area.

Following the Pikes Peak program, drilling will move to the Lapon Canyon portion of the Lapon Gold Project. Drilling will be centered on the Hotspot area, located 200 meters above and 250 meters on strike SE of the historic mine workings, and high-grade drilling intercepts from Walker’s previous drilling from 2016 to 2021. (see Walker’s previous news releases from 2016 to 2022).

Significant drill results were encountered at the Hotspot Zone, including 7.62 g/t Au over 48.8 m in LC 21-80, 5.68 g/t Au over 60.9 m in LC 21-81 and 1.84 g/t Au over 122 m in LC 21-84, (see news release 03/31/2022) among other significant drill results from this area.

The Hotspot Zone appears to be flat lying (sub horizontal to horizontal), analogous to Basin and Range thrust faulting. Therefore, drilling can be carried out if different directions (azimuth) from the same drill pad, up to five holes can be drilled from a single drill pad, often in a fan shaped pattern.

The topography and steepness of the mountain is less severe here, allowing for simpler and faster drill access construction, set up and drilling. The mineralization is not visible at surface, as it is overlain by approximately 3 meters of loose colluvium, making drill road access and pad construction quicker at less cost. This combined with the geometry of the mineralized zone, will allow Walker to carry out systematic drilling on section with pads placed at every 30 meters or so, with up to five holes per pad. Additional drill access road and pad construction has been completed for this current and future drill programs.

About the Lapon Gold Project

The Lapon Gold Project consists of 147 claims (2940 acres) situated in the Wassuk Range, within the Walker Lane shear zone, a 100 km wide structural corridor extending in a southeast direction from Reno, Nevada. The Project is easily accessible by secondary state roads from the main highway (25 kilometres), and is located approximately 60 kilometres southeast of Yerington, Nevada. A state power grid transmission line passes within three kilometres of the Project.

The Lapon Gold Project includes Lapon Canyon, the Pikes Peak claims located 4 kilometres to the north, and the Rattlesnake and Range Front claims 3 kilometres to the west and over 600 meters lower than the present drilling at Lapon Canyon. The Rattlesnake, Range Front, and Pikers Peak claims cover over 8 km of possible extensions of the range front zones to the west, north, and south of Lapon Canyon, adding several additional drill target areas to the project. Rattlesnake and Pikes Peak contain numerous historical mining and milling areas that consist of adits at different levels, shafts and underground workings, and a network of existing roads providing access throughout.  Little or no exploration work has been carried out on these claims prior to Walker’s arrival. It is notable that the Rattlesnake area and adits are on strike with the Lapon Canyon discoveries located 3 km on strike and 600 meters above.

Lapon Canyon hosts historical high grade gold mining with approximately 2000 feet of undergoing workings in three adits. Historical underground work returned numerous assay values in the one ounce per ton range, with a sample at the end of the A adit returning 20.6 ounces per ton Au. (NI43-101, Montgomery and Barr, 2004).

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by E. Gauthier, geol., Eng (OIQ) a Qualified Person as defined by NI 43-101, Standards of Disclosure for Mineral Projects.

ON BEHALF OF THE BOARD OF DIRECTORS

 

“Michel David”

________________________
Michel David,

Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT:

 

Walker River Resources Corp.

Tel: 819 874-0030

Fax: 819 825-1199

Email: info@wrrgold.com

Website: www.wrrgold.com

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 release.

Walker to Close Private Placement

Vancouver, B.C. September 26, 2022 – Walker River Resources Corp. (“Walker” or the “Company”) (TSX-V: WRR) is pleased to announce that it intends to close a non-brokered private placement offering this week with the issuance of a total of 2,500,000 units (the “Units”) of the Company at a price of $0.25 per Unit for proceeds of $625,000.00 (the “Private Placement”).

Each Unit shall consist of one common share (“Share”) in the capital of the Company and one Share purchase warrant (“Warrant”), whereby each Warrant shall be exercisable into an additional Share for a period of 24 months from the date of issuance at an exercise price of $0.30.

All securities issued to be issued in connection with the Private Placement will be subject to a statutory four-month hold period in accordance with applicable securities legislation. Completion of the Private Placement is subject to receipt of applicable regulatory approvals, including final acceptance by the TSX Venture Exchange, and a further news release will be issued the date of closing disclosing the expiration date of the hold period.

Proceeds of the Private Placement will be used for work on the Company’s mineral properties and general working capital.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

ON BEHALF OF THE BOARD OF DIRECTORS

 

“Michel David”

________________________
Michel David,

Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT:

 

Walker River Resources Corp.

Tel: 819 874-0030

Fax: 819 825-1199

Email: info@wrrgold.com

Website: www.wrrgold.com

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 release.

 

Cautionary Statements Regarding Forward Looking Information

This news release contains certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements in this news release relate to, among other things, closing of the Private Placement, receipt of all necessary approvals in connection therewith, and use of proceeds of the Private Placement. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, social and regulatory uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, an inability on the part of the Company to obtain TSX Venture Exchange acceptance of the Private Placement and management’s discretion to reallocate the use of proceeds. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

Walker Announces Share Consolidation

Vancouver, B.C. July 21, 2022 – Walker River Resources Corp. (“Walker” or the “Company”) (TSX-V: “WRR”) announces a consolidation of its common shares on a six (6) for one (1) basis (the “Share Consolidation”). The Company currently has 205,961,178 common shares issued and outstanding. Following the Share Consolidation, the Company expects to have 34,326,863 common shares issued and outstanding.

The TSX Venture Exchange (“TSXV”) has accepted the Share Consolidation and confirmed that the Company’s common shares will commence trading, effective market open on July 25, 2022, on the TSX.V on a post-consolidated basis. The Company’s name and trading symbol remain unchanged.

On the effective date, the Company’s new CUSIP number will be 931778203 and ISIN will be CA9317782030. Letters of transmittal describing the process by which shareholders may obtain new share certificates or Direct Registration System (DRS) advices representing their consolidated common shares will be mailed shortly to registered shareholders. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their name will not be required to complete a letter of transmittal. The letter of transmittal will be filed under the Company’s profile on SEDAR at www.sedar.com.

Pursuant to the provisions of the Business Corporations Act (British Columbia) and the Articles of the Company, the Share Consolidation was approved by way of resolutions passed by the board of directors of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

 

“Michel David”

________________________
Michel David,

Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT:

 

Walker River Resources Corp.

Tel: 819 874-0030

Fax: 819 825-1199

Email: info@wrrgold.com

Website: www.wrrgold.com

Neither 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 News Release.

Drill Results From New Discovery At Lapon Canyon Return 7.62 g/t Au Over 48.8 Meters And 77.14 g/t Au Over 4.5 Meters

Vancouver, B.C. March 31, 2022 – Walker River Resources Corp. (“Walker” or the “Company”) (TSX-V: “WRR”) is pleased to announce drill results from the late 2021 reverse circulation (“RC”) drill program at the Lapon Canyon portion, of its 100% owned Lapon Gold Project located approximately 60 kilometres southeast of Yerington, Nevada.

Drill results confirm the discovery of a new high grade gold mineralized zone (the “Hotspot”).

LC 21-80 returned 7.62 g/t Au over 48.8 meters, including 77.16 g/t Au over 4.5 meters.

LC 21-81 returned 5.68 g/t Au over 60.9 meters, including 17.76 g/t Au over 18.3 meters, and 99.7 g/t Au over 1.5 meters.

LC 21-82 returned 1.84 g/t Au over 122 meters including 8.61 g/t Au over 9.2 meters, and 4.28 g/t Au over 47.3 meters, the latter two results being in granite. The hole ended in gold mineralization at 122 meters.

Key Highlights 

  • The presence of significant gold mineralization in granite (LC 21-82), demonstrates new and significant potential to the project. Previously the granite was thought to be barren. The Company will now undertake to assay granites from the previous drillhole samples not sent to the lab.
  • It is now warranted to drill longer and deeper holes at Lapon Canyon, with significant gold mineralization recently discovered within the granite at the Hotspot, previously unknown to exist on the Project.
  • Hole 21-65 (1.88 g/t over 54.5 meters) was the initial discovery hole. The zone is not visible at surface, as it is covered by a blanket of colluvium and granite boulders
  • Holes LC 20-35 (1.35 g/t over 22.9 meters) and LC 21-67, located some 100 meters NW of the new Hotspot zone confirmed its discovery.
  • The unanticipated robust nature of gold mineralization discovered at the Hotspot zone, allows the Company to apply the same methodologies at Lapon Canyon’s other known mineralized zones. Including, follow up drilling at the mineralized zones discovered in holes LC 19-42 and 43.
  • The 2022 drill programs at Lapon Canyon will now consist of systematic drilling on section for geological modelling purposes, as well as exploration drilling to discover new gold mineralization and extend known gold mineralization, including, now at depth.

Assay Table: Summary of Drill Results:

Hole   

 

From

(m)

To

(m)

Length*

(m)

Assay (Au g/t)* Gold Metal Factor

(g/t x m)

Notes:
LC 21-80 10.7 59.5 48.8 7.62 372
incl 55 59.5 4.5 77.62 347
and 55 56.5 1.5 166.37 249
and 58 59.5 1.5 65.00 97.5
LC 21-81 10.7 71.6 60.9 5.68 346
incl 41.2 59.5 18.3 17.76 325
and 47.3 48.8 1.5 99.78 150
and 53.4 54.9  1.5 39.98 60
and 57.9 59.4 1.5 50.98 76
LC 21-82 0 122 122** 1.84 224
incl 64 111.3 47.3 4.28 202
and 85.3 122 36.7 3.46 127 In Granite
and 85.3 94.5 9.2 8.61 79 In Granite
LC 21-76 13.7 15.2 1.5 25.57 38

* The above drill results are presented uncapped and lengths represent sampled lengths. True width is estimated to be between 60 and 80 percent of sampled widths.

** LC 21-82 ended at 122 meters in gold mineralization

The new Hotspot zone is located some 200 meters above and 250 meters SE, on strike with the high-grade mineralization at the historic mine workings, with previously reported high grade drill results (LC 16-10 77.62 g/t over 12.2 meters, among others).

Other drill holes include LC 21-76 and LC 21-84 where a second altered zone was discovered below granite. The two altered zones show anomalous to low grade gold throughout, with LC 21-76 returning a high-grade value of 25.57 g/t over 1.5 meters. The granites also show anomalous gold values throughout, an excellent indicator for future exploration. The presence of a second altered zone below granite is very significant as it increases the potential of Lapon Canyon. Hole LC 21- 84 was lost at 140 meters in intense fracturing, an indicator of potential gold mineralization at Lapon Canyon.

Drillholes LC 21-73 to 75 were drilled in the barren late-stage diorite intrusive at the bottom of Lapon Canyon, for geological informational purposes, obtaining thicknesses and angles within the intrusive, important geological information for future drilling.

Drillholes LC 21-85 and 86, were drilled in the lower granites, in preparation for follow up drilling of the high-grade mineralization discovered in Holes LC 19-42 and 43.

Finally, holes LC 21-77 to 79 were drilled to ascertain geological parameters for the drilling of the discovery at the new Hotspot zone. Unexpectedly this led to the discovery of the Upper Granite, which is well mineralized in LC 21-82 (Hotspot).

Now that the late 2021 drill program assay results have been received, planning of the continuation of drilling at Lapon Canyon is underway. Due to the robust nature of the gold mineralization at the new Hotspot zone discovery, both unexpected and surprising, the Company will shift its focus here, and using the same methodologies, follow up drilling at the discoveries encountered in holes LC 19-42 and 43.

Drilling at the Pikes Peak portion of the Lapon Gold Project, which was interrupted in late 2021, due to poor road access conditions, will begin as soon as possible, subject to road access conditions and drill contractor availability. Significant historical mining activities are present (shafts, adits, mill) in a copper gold environment. Sampling by Walker returned values of 9 g/t Au, and 2.2% Cu from outcrop. It is significant that there are no reported drilling or exploration activities from Pikes Peak.

The gold mineralization at Lapon Canyon is contained in a wide (300 meters), long (over 4km strike length), intensely altered (sericite, iron oxides) sheared and faulted NE trending fault zone. Gold mineralization is present pervasively throughout as an envelope of lower grade mineralization (0.5 to 2.0 g/t Au) enveloping distinct high-grade structures, that have been drilled over a strike length of over 850 meters and a vertical extent of 400 meters.

The high-grade gold mineralization is encountered in discrete, traceable zones located at the intersection of flat lying porphyry dikes and vertical stockwork fracture chimneys.

About the Lapon Gold Project

The Lapon Gold Project consists of 147 claims (2940 acres) situated in the Wassuk Range, within the Walker Lane shear zone, a 100 km wide structural corridor extending in a southeast direction from Reno, Nevada. The Project is easily accessible by secondary state roads from the main highway (25 kilometres), and is located approximately 60 kilometres southeast of Yerington, Nevada. A state power grid transmission line passes within three kilometres of the Project.

The Lapon Gold Project includes Lapon Canyon, the Pikes Peak claims located 4 kilometres to the north, and the Rattlesnake and Range Front claims 3 kilometres to the west and over 600 meters lower than the present drilling at Lapon Canyon. The Rattlesnake, Range Front, and Pikers Peak claims cover over 8 km of possible extensions of the range front zones to the west, north, and south of Lapon Canyon, adding several additional drill target areas to the project. Rattlesnake and Pikes Peak contain numerous historical mining and milling areas that consist of adits at different levels, shafts and underground workings, and a network of existing roads providing access throughout.  Little or no exploration work has been carried out on these claims prior to Walkers arrival. It is notable that the Rattlesnake area and adits are on strike with the Lapon Canyon discoveries located 3 km on strike and 600 meters above.

Lapon Canyon hosts historical high grade gold mining with approximately 2000 feet of undergoing workings in three adits. Historical underground work returned numerous assay values in the one ounce per ton range, with a sample at the end of the A adit returning 20.6 ounces per ton Au. (NI43-101, Montgomery and Barr, 2004).

Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance

All sampling was conducted under the supervision of the Company’s project geologists and the chain of custody from the drill to the sample preparation facility was continuously monitored. A blank or certified reference material was inserted approximately every tenth sample. The Lapon Canyon samples were delivered to American Assays Laboratories’ certified laboratory facilities in Sparks, NV. The samples were crushed, pulverized and the sample pulps digested and analyzed for gold using fire assay fusion and a 50g gravimetric finish. Intensely altered samples used a 1 kg pulp screened to 100 microns. Duplicate assay on screen undersize. Assay of entire oversize fraction.

Samples are taken and bagged directly at the drill rig at every 1.5 meter interval, standard in the exploration industry. A small sample is also taken at the drill rig and put into a chip tray for examination purposes and to determine those sample bags that should be sent to the lab for assay purposes. Often this work is carried out using a microscope for the examination of the rock chips. The full sample bag from the interval chosen for assay purposes is then sent directly from the drill site to the lab, located in Sparks, NV.

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by E. Gauthier, geol., Eng (OIQ) a Qualified Person as defined by NI 43-101, Standards of Disclosure for Mineral Projects.

ON BEHALF OF THE BOARD OF DIRECTORS

 

“Michel David”

________________________
Michel David,

Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT:

 

Walker River Resources Corp.

Tel: 819 874-0030

Fax: 819 825-1199

Email: info@wrrgold.com

Website: www.wrrgold.com

Neither 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 News Release.

Walker Updates Drilling Program at the Lapon Gold Project

Vancouver, B.C. December 16, 2021 – Walker River Resources Corp. (“Walker” or the “Company”) (TSX-V: “WRR”) is pleased to provide an update on its 2021 reverse circulation (“RC”) drill program at the 100% owned Lapon Gold Project located approximately 60 kilometres southeast of Yerington, Nevada.

A total of 14 holes (1750 meters) were completed. Sample preparation of the drill holes has been finalized, with 816 samples submitted to the certified laboratory facilities in Sparks, NV.

Significantly, visible gold (VG) was observed in hole LC 21-76 at a depth of 18 meters (see news release 11/15/21) and in Hole LC 21-80 at 51 meters depth, in chip trays used for visual logging purposes at the drill rig.

The 2021 drilling programs were designed to determine structure and morphology for 3D geological modelling. Follow up drilling also targeted the extensions of the high-grade zones and corridors, both at depth and along strike, as discovered in previous drilling at Lapon Canyon. The Company will await further assay results prior to the positioning of new additional holes in these areas.

Most recently, following up drilling targeted the previous discovery of hole LC 21-65 (1.88 g/t over 54.8 meters, see news release 08/18/21). Significantly, drilling encountered fresh granite, varying in thickness from 4 to 20 meters overlying the altered and silica rich mineralized zone. In hole LC 21-84, a second mineralized zone was encountered underneath fresh granite at a depth of 120 meters. This second alteration has an apparent thickness of over 30 meters.

Assays are pending from the recently submitted samples, results will be released as they become available.

The Company also attempted drilling at the Pikes Peak portion of the Lapon Gold Project. However, with deteriorating weather conditions (snow & rain) and water damage to the steep grade portions of the drill access road, it was deemed unsafe in consultations with the drill contractor. Drilling will be undertaken as soon as possible when deemed safe to do so. Significant historical mining activities are present (shafts, adits, mill) in a copper-gold setting. Sampling by the Company returned values of 9 g/t gold and 2.2% copper from outcrop here. It is also significant that there are no records of past drilling or modern-day exploration ever carried out at Pikes Peak.

To date the Company has received assay results from 72 drillholes at the Lapon Canyon project. Of these, 19 returned significant higher grades, 23 returned significant lower grades, 16 were carried out in unaltered granite, and 12 were lost/abandoned.

The gold mineralization at Lapon Canyon is contained in a wide (300 meters), long (over 4km strike length), intensely altered (sericite, iron oxides) sheared and faulted NE trending zone. Gold mineralization is present pervasively throughout as an envelope of lower grade mineralization (0.5 to 2.0 g/t Au) enveloping distinct high-grade structures, that have been drilled over a strike length of over 850 meters and a vertical extent of 400 meters.  The high-grade gold mineralization is encountered in discrete, traceable zones located at the intersection of flat lying porphyry dikes and vertical stockwork fracture chimneys.

Finally, the Company announces Michael Hackman has resigned as a director of the Company. Walker would like to thank Mr. Hackman for his contributions to the Company and wishes him well in his future endeavors.

About the Lapon Gold Project

The Lapon Gold Project consists of 147 claims (2940 acres) situated in the Wassuk Range, within the Walker Lane shear zone, a 100 km wide structural corridor extending in a southeast direction from Reno, Nevada. The Project is easily accessible by secondary state roads from the main highway (25 kilometres), and is located approximately 60 kilometres southeast of Yerington, Nevada. A state power grid transmission line passes within three kilometres of the Project.

The Lapon Gold Project includes Lapon Canyon, the Pikes Peak claims located 4 kilometres to the north, and the Rattlesnake and Range Front claims 3 kilometres to the west and over 600 meters lower than the present drilling at Lapon Canyon. The Rattlesnake, Range Front, and Pikers Peak claims cover over 8 km of possible extensions of the range front zones to the west, north, and south of Lapon Canyon, adding several additional drill target areas to the project. Rattlesnake and Pikes Peak contain numerous historical mining and milling areas that consist of adits at different levels, shafts and underground workings, and a network of existing roads providing access throughout.  Little or no exploration work has been carried out on these claims prior to Walker’s arrival. It is notable that the Rattlesnake area and adits are on strike with the Lapon Canyon discoveries located 3 km on strike and 600 meters above.

Lapon Canyon hosts historical high grade gold mining with approximately 2000 feet of undergoing workings in three adits. Historical underground work returned numerous assay values in the one ounce per ton range, with a sample at the end of the A adit returning 20.6 ounces per ton Au. (NI43-101, Montgomery and Barr, 2004).

Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance

All sampling was conducted under the supervision of the Company’s project geologists and the chain of custody from the drill to the sample preparation facility was continuously monitored. A blank or certified reference material was inserted approximately every tenth sample. The Lapon Canyon samples were delivered to American Assays Laboratories’ certified laboratory facilities in Sparks, NV. The samples are crushed, pulverized and the sample pulps digested and analyzed for gold using fire assay fusion and a 50g gravimetric finish. Intensely altered samples used a 1 kg pulp screened to 100 microns. Duplicate assay on screen undersize. Assay of entire oversize fraction.

Samples are taken and bagged directly at the drill rig at every 1.5 meter interval, standard in the exploration industry. A small sample is also taken at the drill rig and put into a chip tray for examination purposes and to determine those sample bags that should be sent to the lab for assay purposes. Often this work is carried out using a microscope for the examination of the rock chips. The full sample bag from the interval chosen for assay purposes is then sent directly from the drill site to the lab, located in Sparks, NV.

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by E. Gauthier, geol., Eng (OIQ) a Qualified Person as defined by NI 43-101, Standards of Disclosure for Mineral Projects.

ON BEHALF OF THE BOARD OF DIRECTORS

 

“Michel David”

________________________
Michel David,

Chief Executive Officer and Director

 FOR FURTHER INFORMATION PLEASE CONTACT:

Walker River Resources Corp.

Tel: 819 874-0030

Fax: 819 825-1199

Email: info@wrrgold.com

Website: www.wrrgold.com

Neither 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 News Release.

Walker Begins Drilling at the Lapon Gold Project

Vancouver, B.C. November 15, 2021 – Walker River Resources Corp. (“Walker” or the “Company”) (TSX-V: “WRR”) is pleased to announce drilling has restarted on the 2021 reverse circulation (“RC”) drilling program at the Lapon Canyon portion, of the 100% owned Lapon Gold Project located approximately 60 kilometres southeast of Yerington, Nevada.

Significant, visible gold (VG) was noted at a depth of 18.3 meters in hole LC 21-76, in the chip tray used for visual logging purposes at the drill rig.

The 2021 drilling programs have been designed to determine structure and morphology for 3D geological modelling. Drilling has concentrated on the boundary contacts of the gold mineralization with the surrounding country rock (granite). To date, drilling has been successful in determining the gold mineralization continuing to be open along strike both to the NE and SW, including the discovery of new mineralization. Drill hole LC 21-65 (previously announced) was very important in this regard, it opened up mineralization to the NE, potentially being the continuation of the high-grade corridor some 500 meters to the west.

The present drilling will now follow up and target the extensions of the high-grade zones and corridors, both at depth and along strike, as discovered in previous drilling at Lapon Canyon.

To date, the Company has received assay results from 72 drillholes at the Lapon project. Of these, 19 returned significant higher grades, 23 returned significant lower grades, 16 were carried out in unaltered granite, and 12 were lost/abandoned.

Drill Highlights (among others) from higher grade drill holes (previously announced) include:

  • 7.84 g/t Au over 22.9 meters in LC 15-02 including 66.8 g/t over 1.5 meters, and 43.7 g/t over 1.56 m
  • 48.02 g/t over 13.7 meters in LC 16-10 including 451 g/t over 1.5 meters
  • 77.62 g/t over 12.2 meters in LC 16-10 incl 227g/t over 1.5 m, 207 g/t over 1.5 m, and 106 g/t over 1.5 m
  • 39.12 g/t over 9.2 m in LC 16-12 incl 201g/t over 1.5 m
  • 32.07 g/t over 6.1 m in LC 17-19 incl 53.4 g/t over 1.5 m
  • 31.1 g/t over 13.7 m in LC 18-29 incl 198 g/t over 1,5 m and 78.1 g/t over 1.5 m
  • 96.03 g/t over 13.7 m in LC19-42 incl 547 g/t over 1.5m, 115 g/t over 1.5 m, and 199 g/t over 1.5 m
  • 94.g/t over 6.1 m in LC 19-43 incl 305 g/t over 1.5 m and73.8 g/t over 1.5m
  • 1.04 g/t over 59.5 m in LC 20-53

The gold mineralization at Lapon Canyon is contained in a wide (300 meters), long (over 4km strike length), intensely altered (sericite, iron oxides) sheared and faulted NE trending zone. Gold mineralization is present pervasively throughout as an envelope of lower grade mineralization (0.5 to 2.0 g/t Au) enveloping distinct high-grade structures, that have been drilled over a strike length of over 850 meters and a vertical extent of 400 meters.

The high-grade gold mineralization is encountered in discrete, traceable zones located at the intersection of flat lying porphyry dikes and vertical stockwork fracture chimneys.

About the Lapon Gold Project

The Lapon Gold Project consists of 147 claims (2940 acres) situated in the Wassuk Range, within the Walker Lane shear zone, a 100 km wide structural corridor extending in a southeast direction from Reno, Nevada. The Project is easily accessible by secondary state roads from the main highway (25 kilometres), and is located approximately 60 kilometres southeast of Yerington, Nevada. A state power grid transmission line passes within three kilometres of the Project.

The Lapon Gold Project includes Lapon Canyon, the Pikes Peak claims located 4 kilometres to the north, and the Rattlesnake and Range Front claims 3 kilometres to the west and over 600 meters lower than the present drilling at Lapon Canyon. The Rattlesnake, Range Front, and Pikers Peak claims cover over 8 km of possible extensions of the range front zones to the west, north, and south of Lapon Canyon, adding several additional drill target areas to the project. Rattlesnake and Pikes Peak contain numerous historical mining and milling areas that consist of adits at different levels, shafts and underground workings, and a network of existing roads providing access throughout.  Little or no exploration work has been carried out on these claims prior to Walker’s arrival. It is notable that the Rattlesnake area and adits are on strike with the Lapon Canyon discoveries located 3 km on strike and 600 meters above.

Lapon Canyon hosts historical high grade gold mining with approximately 2000 feet of undergoing workings in three adits. Historical underground work returned numerous assay values in the one ounce per ton range, with a sample at the end of Adit A returning 20.6 ounces per ton Au. (NI43-101, Montgomery and Barr, 2004).

Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance

 All sampling was conducted under the supervision of the Company’s project geologists and the chain of custody from the drill to the sample preparation facility was continuously monitored. A blank or certified reference material was inserted approximately every tenth sample. The Lapon Canyon samples are delivered to American Assays Laboratories, certified laboratory facilities in Sparks NV. The samples are crushed, pulverized and the sample pulps digested and analyzed for gold using fire assay fusion and a 50g gravimetric finish. Intensely altered samples used a 2 kg pulp screened to 100 microns. Duplicate assay on screen undersize. Assay of entire oversize fraction.

Samples are taken and bagged directly at the drill rig at every 1.5-meter interval, an industry standard on Reverse Circulation (“RC”) exploration drill programs. A small sample is also taken at the drill rig and put into a chip tray for examination purposes and to determine those sample bags that should be sent to the lab for assay purposes. Often this work is carried out using a microscope for the examination of the rock chips. The full sample bag from the interval chosen for assay purposes is then sent directly from the drill site to American Assays Laboratories, certified laboratory facilities in Sparks NV.

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by E. Gauthier, geol., Eng (OIQ) a Qualified Person as defined by NI 43-101, Standards of Disclosure for Mineral Projects.

ON BEHALF OF THE BOARD OF DIRECTORS

 

“Michel David”

________________________
Michel David,

Chief Executive Officer and Director

 FOR FURTHER INFORMATION PLEASE CONTACT:

Walker River Resources Corp.

Tel: 819 874-0030

Fax: 819 825-1199

Email: info@wrrgold.com

Website: www.wrrgold.com

Neither 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 News Release.

Walker Announces Drill Results From The Lapon Gold Project

Vancouver, B.C. October 26, 2021 – Walker River Resources Corp. (“Walker” or the “Company”) (TSX-V: “WRR”) is pleased to announce additional drill results from the 2021 reverse circulation (“RC”) drill programs at its 100% owned Lapon Gold Project located approximately 60 kilometres southeast of Yerington, Nevada.

This latest phase of drilling was necessary to determine structure and morphology for 3D geological modelling. Drilling was concentrated on the boundary contacts of the gold mineralization with the surrounding country rock (granite). The mineralization continues to be open along strike both to the NE and SW. The previously reported results of high grade and significant widths encountered in RC drillhole LC 21-65 is very important in this regard. It opens mineralization to the NE and may be the continuation of the high-grade corridor some 500 meters to the east. Infill and follow up drilling will target this discovery in the next phase of drilling scheduled to begin at the end of the month.

RC drillhole LC 21-67 returned 1.61 g/t Au over 29 meters beginning at 26 meters from surface, a further significant width of mineralization. RC drillhole LC 21-64 returned notable widths as shown in the assay table below. RC drillhole LC 21-62 returned 1.32 g/t Au over 1.5 meters at 36 meters from surface in granite. This hole is significant as another unexpected gold discovery in unaltered granite which has occurred some 10 times since the beginning of the project.

Key Highlights:

  • The results from the drilling expand the gold mineralization at Lapon Canyon, further define the direction and dip of the higher-grade structures and expanded gold mineralization both laterally and to depth as shown in LC 21-65 (previously announced) and in LC 21-70.
  • The drill program is designed to ascertain granite contacts and their relationships with the altered gold mineralized alteration zones. We continue to intercept gold assay results in what was previously believed to be barren granite (LC 21-62).
  • This phase of the 2021 drill program will now target the higher-grade trends and expand the new gold mineralization previously discovered at the 8800-foot elevation, and at the Honeypot, Holes LC19-42 and 43, lateral extension and infill of LC 21-65, among other targets.
  • The 2021 drill programs at Lapon Canyon consist of systematic drilling on section for geological modelling purposes, as well as exploration drilling to discover new gold mineralization and extend known gold mineralization.

As of this news release the Company has received assay results from 72 drillholes at the Lapon Project. Of these, 19 returned significant higher grades, 23 returned significant lower grades, 16 were carried out in unaltered granite, and 12 were lost/abandoned. The most recent drill results from the Lapon Gold Project are summarized in the table below.

Assay Table: Summary of Drill Results:

Hole   

 

From

(m)

To

(m)

Length**

(m)

Assay (Au g/t) Notes:
LC 21-64 18.3 32 13.7 1.12
42.7 56.4 13.7 1.83
LC 21-67 25.9 54.9 29 1.61
LC 21-70 54.9 62.5 7.6 1.86
LC 21-62 36.5 38  1.5 1.32 granite

**True widths approx.  75-80%

Holes LC 21-66, 71, and 72 did not reach their intended target.

The next phase of drilling is scheduled to begin at the end of this month, following up and targeting the extensions of the high-grade zones and corridors, both at depth and along strike, as discovered in previous drilling at Lapon Canyon.

The Company will also complete an initial drill program at the Pikes Peak portion of the Lapon Gold Project. Significant historical mining activities are present (shafts, adits, mill) in a copper-gold setting. Sampling by the Company returned values of 9 g/t gold and 2.2% copper from outcrop here. It is significant that there are no records of past drilling or modern-day exploration ever carried out at Pikes Peak.

The gold mineralization at Lapon Canyon is contained in a wide (300 meters), long (over 4km strike length), intensely altered (sericite, iron oxides) sheared and faulted NE trending zone. Gold mineralization is present pervasively throughout as an envelope of lower grade mineralization (0.5 to 2.0 g/t Au) enveloping distinct high-grade structures, that have been drilled over a strike length of over 850 meters and a vertical extent of 400 meters. The high-grade gold mineralization is encountered in discrete, traceable zones located at the intersection of flat lying porphyry dikes and vertical stockwork fracture chimneys.

About the Lapon Gold Project

The Lapon Gold Project consists of 147 claims (2940 acres) situated in the Wassuk Range, within the Walker Lane shear zone, a 100 km wide structural corridor extending in a southeast direction from Reno, Nevada. The Project is easily accessible by secondary state roads from the main highway (25 kilometres), and is located approximately 60 kilometres southeast of Yerington, Nevada. A state power grid transmission line passes within three kilometres of the Project.

The Lapon Gold Project includes Lapon Canyon, the Pikes Peak claims located 4 kilometres to the north, and the Rattlesnake and Range Front claims 3 kilometres to the west and over 600 meters lower than the present drilling at Lapon Canyon. The Rattlesnake, Range Front, and Pikers Peak claims cover over 8 km of possible extensions of the range front zones to the west, north, and south of Lapon Canyon, adding several additional drill target areas to the project. Rattlesnake and Pikes Peak contain numerous historical mining and milling areas that consist of adits at different levels, shafts and underground workings, and a network of existing roads providing access throughout.  Little or no exploration work has been carried out on these claims prior to Walker’s arrival. It is notable that the Rattlesnake area and adits are on strike with the Lapon Canyon discoveries located 3 km on strike and 600 meters above.

Lapon Canyon hosts historical high grade gold mining with approximately 2000 feet of undergoing workings in three adits. Historical underground work returned numerous assay values in the one ounce per ton range, with a sample at the end of the A adit returning 20.6 ounces per ton Au. (NI43-101, Montgomery and Barr, 2004).

Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance

All sampling was conducted under the supervision of the Company’s project geologists and the chain of custody from the drill to the sample preparation facility was continuously monitored. A blank or certified reference material was inserted approximately every tenth sample. The Lapon Canyon samples were delivered to American Assays Laboratories’ certified laboratory facilities in Sparks, NV. The samples were crushed, pulverized and the sample pulps digested and analyzed for gold using fire assay fusion and a 50g gravimetric finish. Intensely altered samples used a 2 kg pulp screened to 100 microns. Duplicate assay on screen undersize. Assay of entire oversize fraction.

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by E. Gauthier, geol., Eng (OIQ) a Qualified Person as defined by NI 43-101, Standards of Disclosure for Mineral Projects.

ON BEHALF OF THE BOARD OF DIRECTORS

 

“Michel David”

________________________
Michel David,

Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT:

 

Walker River Resources Corp.

Tel: 819 874-0030

Fax: 819 825-1199

Email: info@wrrgold.com

Website: www.wrrgold.com

Neither 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 News Release.