Walker River drills 1.65 g/t gold over 97.6 metres at Lapon, Nevada

Walker River Resources Corp. [WRR-TSXV] reported drill results from the late 2022 reverse circulation (RC) drill program at the 100%-owned Lapon gold project located approximately 60 km southeast of Yerington, Nevada.

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

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

RC Drill hole LC 22-94 returned 1.10 g/t gold over 73.2 metres at a depth of 32 metres. RC Drill hole LC 22-93 returned 1.25 g/t gold over 24.4 metres at a depth of 39.6 metres. RC Drill hole LC 22-91 returned 1.05 g/t gold over 35.5 metres at a depth of 27.4 metres.

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 metres) and LC 21-67 located some 100 metres 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.

This present drilling has extended the strike length and width of the Hotspot zone. The intercepts reported are a minimum of 60 metres apart. Drill holes LC 22- 90 to LC 22-96 were completed from two drill pads, located some 40 metres above and 50 metres 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 metres 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 metres down but did return 0.89 g/t over 7 metres.

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 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).

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-metre level but was abandoned due to extensive fracturing and ground water at 107 metres. PP 22-01 returned 0.946 g/t gold over 10.6 metres from 96 to 107 metres.

Most notably, the final 4.5 metres returned 1.5 g/t with the final assay at the bottom returning 1.93 g/t over 1.5 metres at 107 metres down.

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.

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 gold, and 2.2% copper from outcrop. It is significant that until Walker’s arrival, there are no reported modern-day drilling or exploration activities from Pikes Peak.

The Lapon Gold Project consists of 147 claims (2,940 acres) in the Wassuk Range, within the Walker Lane shear zone, a 100-km-wide structural corridor extending southeast from Reno. The project is easily accessible by secondary state roads from the main highway (25 km) and is about 60 km southeast of Yerington. A state power grid transmission line passes within 3 km of the project.