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WCP Resources to drill test Yalgoo gold project on promising rock chip results

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WCP Resources (ASX: WCP) has received promising rock chip assays including 9.36 grams per tonne (g/t) gold, 9.98g/t gold, 25.1g/t gold and 60.4g/t gold at its 100% owned Yalgoo tenement in Western Australia.

The company believes the results warrant a scout style drilling program to investigate the potential for narrow vein high grade gold style mineralisation.

Last quarter the company undertook a mapping and rock chip sampling program of quartz veins hosted in Archean metamorphosed mafic intrusive rocks.

The recent results were returned from a north-south striking zone of about three kilometres length between the Kings Find and Nyngan historic workings.

Several “surface scratching’s” have been mapped along this trend despite there being no record of previous drilling. However, previous drilling at the Nyngan’s Prospect at the southern end returned 2 metres at 17g/t gold.

The project covers an area of 75 square kilometres and is located 330 kilometres northeast of Perth. The tenement wholly contains the old Nyngan gold workings and several small groups of historical gold workings.

Yalgoo is located within 70 kilometres of the Mount Gibson gold mine, the Golden Grove base metal mine, Karara Magnetite Project and the Kirkalocka gold mine.

The Mount Gibson gold mine has gold resources in excess of 559,000 ounces and produced 870,000 ounces of gold between 1986 and 1998. Between 2002 and 2008 the Kirkalocka gold mine produced 294,000 ounces of gold.

WCP Resources is now planning to apply for Native Title clearance for an initial rotary air blast drill program to test the prospective Kings Find to Nyngan trend.

Driling will also test the strike extension of potential mineralisation undercover near faults and major contacts, south of the Nyngan Prospect and west of the McLaughlin’s Prospect as well as test further westwards out to the western granite contact – targeting felsic subvolcanic/volcanic rocks.

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