Waverley Acquires Lauder and Tin City Projects in British Columbia
TORONTO, April 13, 2021 (GLOBE NEWSWIRE) — Waverley Resources Ltd. (“Waverley”) is pleased to announce that it has acquired the Lauder copper-gold project located 40 km south of Kamloops in south-central British Columbia and the Tin City tungsten-silver-lead-zinc project located approximately 90 km north of Kaslo in south-eastern British Columbia.
The 867-hectare Lauder property is largely till covered and was acquired based on Geoscience BC data releases including an airborne gravity survey, historical soil geochemical mobile metal ion (“MMI”) results, as well as RGS data that indicates the potential for buried copper-gold mineralization in the area.
The 965-hectare Tin City property comprises an extensive amphibolite unit that host scheelite-bearing skarn lenses and horizons, as well as a number of reported historic mining shafts and several open cuts made on a sedimentary package hosting quartz veins with pyrite, pyrrhotite, sphalerite and galena. Work by Newmont Exploration of Canada Limited in 1984-85 included geochemical soil, silt and rock chip surveys, a magnetometer survey, trenching and 794 metres of diamond drilling in 13 holes. In 2008, Roca Mines Inc. drilled two additional drill holes into the amphibolite unit. During 2007 through 2009, Braveheart Resources Canada Inc. completed programs of prospecting and geochemical sampling in the area and in 2011 completed an airborne geophysical survey over a portion of the current Tin City property.
Both projects were acquired through an internal staking program and are 100% owned by Waverley.
Qualified Persons
The foregoing disclosure has been reviewed, compiled and is the responsibility of Richard A. Graham, P. Geol., a “qualified person” for the purpose of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Cautionary Note Regarding Forward-Looking Statements
Certain of the statements made and information contained herein is “Forward-looking information” within the meaning of applicable securities laws, including statements concerning our plans, future financings and operations, and the timing and completion of any acquisition or future business opportunities. Such forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Corporation, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, general economic, market and business conditions, including in light of the COVID-19 pandemic, changes in national and local government legislation or regulations regarding environmental factors, taxation or foreign investment; political or economic instability; terrorism; inflation; changes in currency exchange rates; fluctuations in commodity prices; dependency on equity market financings to fund operations; and other risks and uncertainties, including those described in each management’s discussion and analysis released by the Corporation. In addition, forward-looking information is based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements, which speak only as of the date they are made. Except as required under applicable securities legislation, the Corporation undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
For Further Information:
Fraser Buchan
Chief Executive Officer
Telephone: (416) 473-4099
