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| March 20, 2014 --- Vol. 08, No. 12 | March 2014
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Yukon Territory
PGM/NICKEL/COPPER – Wellgreen Platinum Ltd. March 18 reported further results from its most recent field program at the Wellgreen platinum group metal-nickel-copper project in southwestern Yukon Territory. These latest results from the West Zone within the main Wellgreen deposit extend mineralization more than 1,400 meters west of the easternmost drilling in the Far East Zone. Mineralization in the West zone is continuous from surface to more than 350 meters depth and is open at depth and along strike. Like other zones to the east at Wellgreen, the West zone includes areas of significant higher grade material both near surface and in close proximity to the existing underground workings. This updated interpretation of the West Zone is based on new drilling and new assay results from historic drill core that was previously only selectively sampled for high grade massive sulphide intervals. Continuous assays from these drill holes confirm that, like elsewhere in the Wellgreen deposit, significant platinum group metals-nickel-copper mineralization occurs throughout the ultramafic package associated with areas within 50-100 meters of the sedimentary contact, as well as within much broader bands of higher grade mineralization within the layered ultramafic intrusions. Highlights include hole 139 which intercepted 371.3 meters of PGM-nickel-copper mineralization grading 2.76 grams per metric ton platinum-equivalent, or 0.66 percent nickel-equivalent, for a grade thickness value of more than 1,000-gram-meters. The lower interval in this hole intercepted 140.6 meters at 3.99 g/t platinum-equivalent, or 0.95 percent nickel-equivalent, and ended in high-grade mineralization of more than 5 g/t platinum-equivalent. This 140.6-meter intercept of higher grade material is located less than 50 meters from the existing main adit level in the underground workings, making it an attractive potential target for bulk underground extraction. Mineralization remains open below this intercept, and this area represents a high potential target for resource expansion from future programs. As discussed in previous news releases on the Far East, East and Central Zones, the extent of mineralization at Wellgreen continues to expand with new drill results and systematic incorporation of those results into the updated geologic model. Thick bands of higher grade mineralization have been interpreted to be up to 500 meters in width in the core of the ultramafic body in the Far East zone and in the Central zone. There has been no deep drilling in the West Zone to test the system at depth or to fully test the potential continuity of the higher grade material identified in the Central zone nearly 300 meters to the east. These areas represent priority targets for future drilling campaigns and this material, which is located near existing underground workings could make this area amenable to low cost development. Re-interpretation and continuous assaying of historic drill core from the West Zone that was previously only selectively sampled has also confirmed the presence of zones near surface that have substantially higher grade mineralization than average in the deposit, which make them potential starter pit targets. Greg Johnson, Wellgreen Platinum’s president and CEO, commented, “We are excited to continue to report broad higher grade zones at Wellgreen that are either near surface along the trend or close to existing underground workings particularly in the West, Central and East zones. The results are demonstrating the impressive scale of mineralization at Wellgreen with it shaping up to be a ‘porphyry-scale’ PGM-nickel-copper system. The company is not aware of any other ultramafic PGM-containing deposits anywhere in the world with continuous mineralization over comparable grades and widths. The upcoming PEA update, targeted to be finished in (the second quarter of) 2014, will evaluate these higher grade zones as potential mill feed from starter pits and selective areas of bulk underground mining in the early years of the mine life. Pursuing these higher grades in the early years of the operations at Wellgreen may enable us to achieve significant PGM production with a much reduced initial capital investment.”
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