Significant news today... this historical data set from the former operator (Pegasus Mining) of the Mineral Gulch property would have cost substantially more than what was paid in order to reproduce it. Important drill-hole location maps included!
Western Pacific buys Mineral Gulch drill data
2012-05-09 07:03 ET - News Release
Mr. Warwick Smith reports
WESTERN PACIFIC RECEIVES PEGASUS DRILL DATA
Western Pacific Resources Corp. has received historic proprietary data compiled by Pegasus Mining for the Mineral Gulch property, formerly known as the Black Pine mine.
Included in the information are comprehensive drill-hole location maps, topographic maps generated during the mining process, various drill-hole gold assay sheets and useful mine permitting reports.
The data was purchased for a cost of $5,000.
"We are extremely pleased to have acquired the historical data. It has been a long process trying to track down this partial data set. Now that we have this information, we will use it to help with our planned summer drill program. This is a very important step in refining our exploration plan moving forward," said Eric Saderholm, Director.
Western Pacific is commencing a detailed review of the historical data and expects to announce its plans to advance the Mineral Gulch project shortly.
Mineral Gulch is located in Cassia County, Idaho, along the southeast edge of the Black Pine Mountains, approximately 128 km southeast of Burley, Idaho. Western Pacific Resources Corp. controls 100% of the project which it acquired through staking.
The project encompasses the historic Black Pine Mining District and surrounding exploration ground. Western Pacific previously acquired the historical proprietary data for the property from Newmont Mining Corporation.
Sporadic small-scale gold and base-metal mining occurred in the area as early as 1915. Noranda conducted exploration programs at Black Pine between 1984 and 1990. Pegasus Mining entered into a joint venture with Noranda in 1990 and became the majority owner and operator of the mining effort between 1992 and 1998. The Black Pine Property produced over 500,000 ounces of gold at an average head grade of 1.5 grams from several small open pits. Historic exploration and mining efforts have generally focused on near-surface, oxidized ore bodies.