WCB Resources : Intersects 48m @ 4.09 g/t Au, 15.82 g/t Ag and 0.22% Cu from Drill Hole GDD002 at the Misima Porphyry Copper Prospect, PNG

12/17/2014 | 03:02am AEDT

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 16, 2014) -

Key Points:

• GDD002 intersects 48m @ 4.09 g/t Au, 15.82 g/t Ag and 0.22% Cu from 38 m, including:4m @ 47.6 g/t Au, 90.55 g/t Ag and 0.57% Cu from 60 m.
• This mineralisation is predominantly hosted in skarn and can be correlated on section to previously reported high-value surface channel samples ~250m to the south-west.
• Three broad zones of highly elevated copper with associated gold and silver geochemistry returned in assays for the top 228m of this hole, which was completed to 768m. Assays are awaited for the rest of the hole.
• The significant intersection in GDD002, in combination with GDD001, provides further evidence of a large, strongly mineralised porphyry system at Misima.
• The new results have helped define a structural corridor within which upper level propylitic or halo alteration and associated porphyry mineralisation occurs, suggesting that this is the priority target area for further deep diamond drilling.
• Scout diamond hole GDD003, located 500m to the south-east from GDD0002, is currently at a depth of 631m.

WCB Resources Ltd("WCB" or the "Company") (TSX VENTURE:WCB) is pleased to report significant assay results from the second scout diamond drill hole, GDD002, completed at theMisima Porphyry Copper Prospectin PNG, where it is testing a potential Tier-1 copper-gold porphyry target with an ongoing 4,000m scout diamond drilling program.

Assay results have now been received for GDD002 to a depth of 224m. Assays from 224m to 768m are expected within the next couple of weeks. As reported previously, hole GDD001 was completed to a depth of 723m and drilled down the shoulder of the porphyry system intersecting strong propylitic alteration with strong fracturing.

Diamond hole GDD002, located approximately 250m to the south-west of GDD001, encountered inter-bedded skarn and marble to a depth of 85m. Underlying the skarn zone, a sequence of inter-bedded metamorphics and intrusives contain variable sulphide accumulations including pyrite and accessory chalcopyrite to 550m. At 550m, the hole intersected a post-mineral intrusive to 768m.

Assay results to 224m include:
			8m @ 22.45 g/t Ag, 0.27% Cufrom 4m
			48m @ 4.09 g/t Au, 15.82 g/t Ag and 0.22% Cufrom 38m including
					4m @ 47.6 g/t Au, 90.55 g/t Ag and 0.57% Cufrom 60m
Additional results down-hole include:
			20m @ 0.49 g/t Au, 1.93 g/t Ag and 0.1% Cufrom 96m

WCB is encouraged by these excellent results as they are located in the interpreted halo to the central region of the porphyry. The identification of the structural corridor and the recognition of the erosive level now enable the team to focus on testing the deeper regions of the system for the potential high grade zone.

Cameron Switzer, WCB's President and CEO, said:"This is an important development in our maiden diamond drilling program at Misima and in our efforts to locate the central high-grade core of the porphyry system. Hole GDD002 has returned a thick zone of high-grade gold with copper which, together with previous channel sample data has enabled us to define a broad region of upper skarn mineralisation over several hundred metres.

"Skarn mineralisation often forms a very important component of porphyry systems worldwide, hosting high-grade mineralisation which can be mined in the early stages of the operation. Importantly, as we start to unravel the depth dimensions of this system we increase our understanding of the target zone and where best to focus our efforts. This is a large, robust system which is now delivering significant results in the outer halo regions. This has given us significant confidence in our targeting ability and we remain focused on finding the high-grade, high-value copper-gold core."