Westridge Resources Identifies Additional Epithermal Veins at its Charay Project, Mexico
VANCOUVER, British Columbia, March 12, 2012 /PRNewswire/ — Westridge Resources Inc. (the “Company“) (TSX-V: WST) announces that geological mapping and trenching has identified several new epithermal veins south of the main El Padre Vein. This field work is being conducted concurrently with the diamond drill program underway on the Charay Project.
“Our mapping and trenching program has now demonstrated that the total, cumulative strike length of all vein features identified and inferred on the property is now reaching a total of 3,000 meters, more than ten times the strike length previously identified for the El Padre Vein,” commented Peter Schulhof, President & CEO of Westridge Resources. “Worth noting is that we have explored far less than 1% of our 105 square kilometer Charay Project and we expect surface work to continue to identify more vein targets on the property.”
As reported previously, surface exploration had extended the known strike length of the El Padre Vein system from 250 meters to over 1,000 meters. The ongoing surface mapping and trenching program has now identified three new epithermal veins located 350 meters and up to 650 meters south of the El Padre Vein. Assays are pending.
Mount Sicker Option Terminated
The Company also announces that it has terminated its option with respect to the Mount Sicker Project on Vancouver Island in order to focus its resources on the Charay Project. No further share or cash issuances are required with respect to the Mount Sicker Project.
About Westridge Resources
Westridge Resources Inc. is a Canadian-based mineral exploration company focused on the acquisition, evaluation and exploration of mineral resource properties. Westridge has an option to acquire up to a 100% interest in the Charay Gold/Silver Project, located in Sinaloa State, Mexico.
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Forward Looking Statements
Statements contained in this news release that are not historical facts constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws and are based on expectations, estimates and projections as of the date of this release. Forward-looking statements include, without limitation, possible events, statements with respect to possible events, the future price of gold and other commodities, the realization of mineral resource estimates and success of exploration activities. The words “is expected” or “estimates” or variations of such words and phrases or statements that certain actions, events or results “may” or “could” occur and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold or certain other commodities; changes in national and local government legislation, taxation, controls, regulations and political or economic developments in Canada; business opportunities that may be presented to, or pursued by, the Company; operating or technical difficulties in connection with mining activities; the speculative nature of gold exploration and development, including the risks of obtaining necessary licenses and permits; diminishing quantities or grades of reserves; and contests over title to properties, particularly title to undeveloped properties. In addition, there are risks and hazards associated with the business of gold exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance, or the inability to obtain insurance, to cover these risks). Many of these uncertainties and contingencies can affect the Company’s actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. All of the forward-looking statements made in this release are qualified by these cautionary statements and those made in our other filings with the securities regulators in Canada. These factors are not intended to represent a complete list of the factors that could affect the Company. Although the Company believes that the expectations in the forward-looking statements are reasonable, actual results may vary, and future results, levels of activity, performance or achievements cannot be guaranteed.
SOURCE Westridge Resources Inc.