VANCOUVER, British Columbia, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Winshear Gold Corp. (TSXV: WINS) (‘Winshear’ or the ‘Company’), has signed contracts with Energold Drilling Peru S.A.C. and Servicios Aereos de los Andes S.A.C. to provide drilling and helicopter services in advance of an inaugural drill program at the Gaban Gold Project in south eastern Peru. The drill programme is expected to commence before the end of September, with mobilization of the drill equipment scheduled for the 21st of September.
Gaban is located in the Puno Orogenic Gold Belt (“POGB”) at the juncture of the San Gaban and Inambari rivers, which drain into the Madre de Dios basin. This basin covers a 1,900 square kilometer area known for extensive alluvial gold mining (Figure 1). Winshear is exploring for one of the hard rock sources of the alluvial gold at Madre de Dios.
Work completed at Gaban includes high-resolution airborne magnetics (2018) and stream sediment sampling which has identified a 5 km-long series of anomalous stream sediment samples (up to 5 g/t Au) overlying a regional magnetic anomaly referred to as the Coritiri target (Figure 2 and Figure 3).
Ground-truthing of these stream sediment anomalies led to the discovery of outcropping quartz veins hosted in meta-sediments (siltstones and sandstones). Numerous channel sampling campaigns were conducted, resulting in the definition of the 2,200 x 1,000-metre Coritiri Zone (Figure 4). Channel samples (typically 1-metre long) returned assays up to 11.2 g/t Au. The Coritiri zone remains open along strike to the east and southeast.
Technical Information
J. Patricio Varas, P. Geo. Is Winshear’s President and is a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the contents of this news release. Mr. Varas has visited Winshear’s Gaban exploration project and has reviewed the data from sampling programs .
About Winshear Gold Corp.
Winshear Gold Corp. is a Canadian-based minerals exploration company advancing the Gaban Gold Project in the Puno region of south-eastern Peru. The Company considers Gaban to be one of the hard-rock sources of gold contributing to the 1,900 km2 Madre de Dios alluvial goldfields, located 50km north and downstream from the Gaban gold project.
For more information, please contact Irene Dorsman at +1 (604) 200 7874 or visit www.winshear.com
ON BEHALF OF THE BOARD OF DIRECTORS
“Richard D. Williams”
Richard Williams, CEO
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Cautions Regarding Forward-Looking Statements
This news release includes certain statements and information that may contain forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, are forward-looking statements and contain forward-looking information.
Generally, forward-looking information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including the risks normally associated with mineral exploration. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws.
