The 2016 Program will consist of approximately 2,500 meters of drilling designed to:
test resource expansion potential along the North Arm and the Middle Arm of the deposit, some of which was unclassified in the 2014 resource model and, therefore, categorized as waste in the Company's 2015 Wellgreen PEA
test for the potential conversion of a portion of Inferred Mineral Resources in the Central Zone into the Measured & Indicated categories and assess expansion of the starter pit detailed in the 2015 PEA; and
continue testing of the continuity of higher grade intercepts in the Central Zone in the lower portion of the 2015 PEA Base Case pit.
A successful limited borehole electromagnetic survey conducted at the Wellgreen Project in the fourth quarter of 2015 identified previously drilled massive sulphides several tens of metres off-hole. Therefore, the Company plans to conduct additional borehole EM surveys in the 2016 Program to assist with targeting potential massive sulphides in the North Arm and Middle Arm.
In parallel with the 2016 Program and metallurgical review program, the Company is continuing environmental baseline, assessment and mitigation studies.
Diane R. Garrett, President and CEO, commented, "Over the past several months the Company has taken significant steps to putting in place a strong platform for advancing the Wellgreen Project.
"The addition of new directors with significant technical expertise and the cornerstone investment by Electrum Strategic Opportunities Fund L.P. are tremendous assets to all Wellgreen stakeholders. The metallurgical test work initiated earlier this year and the 2016 field program will continue to de-risk the project in order to efficiently realize the full potential of this unique asset."
