VANCOUVER, B.C. Western Copper and Gold Corporation (“Western” or the “Company”) (TSX: WRN; NYSE American: WRN) is pleased to announce an update to its 2021 exploration and drilling program at its wholly owned Casino Copper-Gold Project (“Casino”) and the formal launching of a feasibility study on the Casino Project.
Exploration and Drilling Program
The 2021 exploration and drilling program (the “Program”) was developed with input from Rio Tinto as outlined in the Investor Rights Agreement and Subscription Agreement, entered into as part of an investment by Rio Tinto Canada in Western (see news release dated May 17, 2021). The field component of the Program was completed on September 30, 2021.
The Program was comprised of several components. A summary of the status of these components follows:
Metallurgical and Geotechnical Drilling
All planned metallurgical and geotechnical drilling was completed. Diamond drilling of 1,001.3 metres of large-diameter core in three holes was completed to test amenability of the mineralization to mineral processing. Geotechnical and hydrological drilling in the Casino Deposit (the “Casino Deposit” or “Deposit”) area, as well as a geotechnical program designed by Knight Piésold, targeting the ground conditions of the proposed tailings management and heap leaching facilities were also completed.
Resource Confirmation Drilling
All planned resource confirmation drilling was completed. Five holes totaling 1,484.1 metres were drilled to confirm the lithological and mineralogical settings of the deposit. Core obtained will undergo metallurgical testing as well as conventional gold and multi-element analyses.
Exploration Drilling
Exploration diamond drilling comprising 1,634.7 metres in 6 holes was completed. All holes targeted peripheral areas of the Deposit, and three of the drill targets were determined from on-site XRF analysis of soil samples collected as part of the soil sampling program.
Soil Sampling
The planned soil sampling program was completed. The soil sampling program focused on areas east and south of the Casino Deposit. The program comprised of the collection of 2.502 “B-horizon” soil samples on a 200 m by 200 m grid spacing. All samples underwent XRF analysis on site and have been sent for full geochemical analysis.
Enersoft Logging
“GeologicalAI” robotic scanning, using a device built by Enersoft Inc. of Calgary, Alberta, was completed on all core drilled in 2021 and approximately 40% of the historical core. A total of 48,673.0 metres of core was scanned. The scanning includes “LIDAR” (Light Detection and Ranging) scanning, XRF analysis, hyperspectral analysis and some geotechnical analyses.
With the completion of this field program, the focus of further technical work developed with input from Rio Tinto will move to metallurgical studies. Metallurgical programs are under development for both the sulphide material targeted for the concentrator, and oxide material targeted for heap leach extraction, and will be executed once geochemical assays on the 2021 core have been received.
Feasibility Study
The Company has engaged the services of M3 Engineering & Technology Corporation of Tucson, Arizona (“M3”) to conduct a feasibility study on Casino (the “Feasibility Study”). M3 is a full-service engineering, procurement and construction management firm, recognized for its experience in copper processing and capability in development and construction of mines and mineral processing plants. M3 also completed the Preliminary Economic Assessment on the Casino Project dated June 22, 2021 (the “PEA”). Targeted completion of the Feasibility Study is 2nd quarter of 2022.
The Feasibility Study will be based on the PEA and will include: a large open-pit operation, a concentrator to recover copper, gold, silver and molybdenum minerals, and a solid waste facility to store mine waste rock and mill tailings. The project will also include a heap leach facility to recover gold, silver, and copper from oxide ore. Project infrastructure will include approximately 130 km of access road, and an on-site power generation facility to meet the project’s electrical power demand.
The principal objective of the Feasibility Study will be to demonstrate positive economic indicators for the Casino Project at a feasibility study level. The Feasibility Study will also form the basis of the Environmental and Socio-economic Statement, the submission of which is the next step in the environmental assessment process under the Yukon Environmental and Socio-economic Assessment Act.
“We are pleased that the work program that we developed with input from Rio Tinto is going smoothly – we have completed the field program and are now moving on to the metallurgical program.”, said Paul West-Sells, President and CEO. “We are equally excited to launch a Feasibility Study on the Casino Project. This will build on the PEA released earlier this year and provide a foundation for permitting and other activities as we move the Casino Project forward.”
Technical information in this news release relating to the Exploration and Drilling Program has been reviewed and approved by Carl Schulze, P.Geo., and a ‘Qualified Person’ as defined under Canadian National Instrument 43-101. Technical information in this news release relating to the Feasibility Study has been reviewed and approved by Cameron Brown, P.Eng., and a ‘Qualified Person’ as defined under Canadian National Instrument 43-101
ABOUT WESTERN COPPER AND GOLD CORPORATION
Western Copper and Gold Corporation is developing the Casino Project, Canada’s premier copper-gold mine in the Yukon Territory and one of the most economic greenfield copper-gold mining projects in the world. For more information, visit www.westerncopperandgold.com.
On behalf of the board,
“Paul West-Sells”
Dr. Paul West-Sells
President and CEO
Western Copper and Gold Corporation
For more information, please contact:
Sandy Noyes
Director, Investor Relations
604.638.2520 or snoyes@westerncopperandgold.com
