Western Copper & Gold Corp 6-K, filed Nov 29, 2021
Western Copper & Gold Corp (WRN)
About this 6-K
Western Copper & Gold Corp filed this 6-K on November 29, 2021.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of November 2021
Commission File Number: 001-35075
WESTERN COPPER AND GOLD CORPORATION
(Translation of registrant's name into English)
15th Floor – 1040 West Georgia Street, Vancouver, BC V6E 4H1
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
☐ Form 20-F ☒ Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
SUBMITTED HEREWITH
Exhibits
| 99.1 | News Release dated November 29, 2021 |
|---|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Western Copper and Gold Corporation | ||
|---|---|---|
| (Registrant) | ||
| Date: November 29, 2021 | By: | /s/ Paul West-Sells |
| Paul West-Sells | ||
| Title: | Chief Executive Officer |
Exhibit 99.1
Western Copper and Gold Intersects 2.53% CuEq Over 65.8 m and 1.01% CuEq Over 289.6 m at Casino
VANCOUVER, BC, Nov. 29, 2021 /CNW/ - Western Copper and Gold Corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) is pleased to announce assay results from the initial nine holes of the 2021 diamond drilling program at its wholly-owned Casino Project in the Yukon Territory, Canada. The program, developed with input from Rio Tinto, comprised a total of 6,074.97 metres in 22 holes.
Highlights
- The importance of the core of the deposit to the overall resource
at Casino ("Deposit Core", see news release dated February 2, 2021) was reinforced by long intercepts of above-resource grades
in both the Leached Cap and Sulphide zones (Table 1):
- DDH21-02, -04, and -06 encountered over 200 metres of 0.86%, 0.97%, and 0.81% CuEq^1^, respectively, in the Sulphide zone within the Deposit Core.
- DDH21-02 and -04 intersected over 100 m of higher-grade Leached Cap in the Deposit Core with grades of 0.47 g/t and 0.61 g/t Au, respectively.
- DDH21-07 and -09 intercepted above-resource grades in the Sulphide
zone just east of the Deposit Core:
- Hole DDH21-07 returned a 289.6 m intercept of 1.01% CuEq^1^ from 36.6 m. This intercept confirmed the higher-grade nature of the upper zones of sulphide mineralization within previous holes and extended those higher grades zones by approximately 100 m of true vertical depth.
- DDH21-09 returned a 65.8 m intercept of 2.53% CuEq^1^ from 10.6 m, one of the highest-grade intercepts drilled to date on the property.
Summary
The results from these nine drill holes essentially confirmed or, in some cases, improved upon historical drilling in the area. This confirmation, and in some cases an increase in grades and/or extension of higher-grade zones, are important achievements of these initial results.
At Casino, higher grades are hosted mostly by intrusive breccias and, in the Deposit Core, also by Patton Porphyry intrusive rock. DDH21-07, -08, and -09, which were drilled east of the Deposit Core, indicate that higher grades also occur in the Dawson Batholith proximal to the brecciated rocks.
"The results from the first holes drilled as part of the 2021 drilling campaign clearly outline the importance of the Deposit Core at Casino.", said Paul West-Sells, President & CEO, "Intercepted grades encountered in and around this area are some of the highest drilled to date on the property, and importantly occur at the top of the Sulphide zone in these areas, representing material that will be mined early on during operations."
Table 1: Initial drill intercepts from 2021 drill program.
| Hole | To (m) | Width^2^ (m) | Zone^3^ | Cu (%) | Au (g/t) | Ag (g/t) | Mo (%) | CuEq^1^ (%) | |
|---|---|---|---|---|---|---|---|---|---|
| DDH21-01 | 57.3 | 56.8 | LC | 0.07 | 0.15 | 0.98 | 0.035 | 0.33 | |
| and | 352.0 | 294.8 | SUL | 0.19 | 0.22 | 1.00 | 0.025 | 0.48 | |
| DDH21-02 | 109.9 | 104.7 | LC | 0.01 | 0.47 | 3.92 | 0.010 | 0.46 | |
| and | 350.2 | 240.3 | SUL | 0.28 | 0.44 | 2.69 | 0.050 | 0.86 | |
| DDH21-03 | 115.5 | 115.5 | LC | 0.01 | 0.20 | 1.39 | 0.039 | 0.34 | |
| and | 228.6 | 113.1 | SUL | 0.19 | 0.22 | 3.34 | 0.012 | 0.45 | |
| DDH21-04 | 115.9 | 112.9 | LC | 0.05 | 0.61 | 3.67 | 0.020 | 0.65 | |
| and | 350.5 | 234.6 | SUL | 0.36 | 0.53 | 4.20 | 0.037 | 0.97 | |
| DDH21-05 | 82.0 | 79.0 | LC | 0.04 | 0.48 | 2.23 | 0.008 | 0.48 | |
| and | 300.2 | 218.2 | SUL | 0.21 | 0.33 | 1.89 | 0.015 | 0.55 | |
| DDH21-06 | 39.6 | 39.6 | LC | 0.11 | 0.19 | 0.77 | 0.007 | 0.30 | |
| and | 324.6 | 285.0 | SUL | 0.29 | 0.48 | 2.20 | 0.028 | 0.81 | |
| DDH21-07 | 36.6 | 18.3 | LC | 0.05 | 0.53 | 2.82 | 0.019 | 0.58 | |
| and | 326.1 | 289.6 | SUL | 0.45 | 0.52 | 2.10 | 0.031 | 1.01 | |
| DDH21-08 | 18.6 | 17.0 | LC | 0.06 | 0.12 | 1.02 | 0.004 | 0.18 | |
| and | 256.0 | 237.5 | SUL | 0.18 | 0.23 | 1.24 | 0.005 | 0.39 | |
| DDH21-09 | 10.6 | 16.7 | LC | 0.05 | 0.18 | 1.11 | 0.005 | 0.23 | |
| and | 225.6 | 214.9 | SUL | 0.54 | 0.55 | 3.13 | 0.008 | 1.05 | |
| including | 76.4 | 65.8 | SUL | 1.32 | 1.33 | 7.09 | 0.019 | 2.53 | |
| including | 35.7 | 1.0 | SUL | 3.27 | 4.20 | 112.00 | 0.018 | 7.75 | |
| ^1^ | CuEq Metal Prices: US2.75/lb copper, US1,500/oz gold, US11/lb molybdenum, US18/oz silver with no adjustment for metallurgical recovery. | ||||||||
| ^2^ | Widths are core length, not true width of mineralized intersection | ||||||||
| ^3^ | Zone refers to oxidation zone. LC designates material from the "Leached Cap" zone and SUL to material from the "Sulphide" zone comprised of the supergene and hypogene zones. |
All values are in US Dollars.
Table 2: Collar data DDH21-01 through DDH21-09, 2021 program
| Drill Hole | Easting | Northing | Elevation (masl) | Azimuth | Inclination | Location |
|---|---|---|---|---|---|---|
| DDH21-01 | 611067 | 6958785 | 1239.2 | 225 | -60 | NE of Deposit Core |
| DDH21-02 | 611101 | 6958375 | 1286.8 | 195 | -60 | Deposit Core |
| DDH21-03 | 611222 | 6958506 | 1269.1 | 315 | -60 | E. Edge Deposit Core |
| DDH21-04 | 610941 | 6958341 | 1359.0 | 35 | -60 | Deposit Core |
| DDH21-05 | 610894 | 6958219 | 1393.1 | 240 | -60 | Deposit Core |
| DDH21-06 | 610974 | 6958744 | 1287.6 | 215 | -60 | Deposit Core |
| DDH21-07 | 611432 | 6958707 | 1177.1 | 170 | -55 | E. Edge Deposit Core |
| DDH21-08 | 611522 | 6958674 | 1168.5 | 60 | -60 | E. Edge Deposit Core |
| DDH21-09 | 611512 | 6958620 | 1161.9 | 100 | -60 | E. Edge Deposit Core |
Figure 1: Drill-hole map showing 2021 drilling (CNW Group/Western Copper and Gold Corporation)
Carl Schulze, P.Geo. is the qualified person responsiblefor the execution of the Casino Project exploration program and the preparation of the technical information in this news release.
QA/QC including assurance of chain of custody hasbeen implemented. Split core samples are prepared and analyzed by ALS Geochemistry. Prepared samples are initially run using a four aciddigestion process and conventional multi-element ICP-AES analysis. Additional assaying for total copper and molybdenum is run using a4-acid digestion – AES or AAS method to a 0.001% detection limit. Gold assays are run using 30-gram sample fire assay with an AAfinish to a 0.005 ppm detection limit, with samples greater than 10 ppm finished gravimetrically. The QA/QC procedure involves regularsubmission of Certified Analytical Standards and property specific duplicates.
ABOUT WESTERN COPPER AND GOLD CORPORATION
Western Copper and Gold Corporation is developing the Casino Project, Canada's premier copper-gold mine in the Yukon Territory and one of the most economic greenfield copper-gold mining projects in the world. For more information, visit www.westerncopperandgold.com.
On behalf of the board,
"Paul West-Sells"
Dr. Paul West-Sells
President and CEO
Western Copper and Gold Corporation
Cautionary Disclaimer Regarding Forward-LookingStatements and Information
This news release contains certain forward-lookingstatements concerning anticipated developments in Western's operations in future periods. Statements that are not historical fact are"forward-looking statements" as that term is defined in the United States Private Securities Litigation Reform Act of 1995 and"forward looking information" as that term is defined in National Instrument 51-102 ("NI 51-102") of the CanadianSecurities Administrators (collectively, "forward-looking statements"). Certain forward looking information should also be consideredfuture-oriented financial information ("FOFI") as that term is defined in NI 51-102. The purpose of disclosing FOFI is to providea general overview of management's expectations regarding the anticipated results of operations and capital expenditures and readers arecautioned that FOFI may not be appropriate for other purposes. Forward-looking statements are frequently, but not always, identified bywords such as "expects", "anticipates", "believes", "intends", "estimates", "potential","possible" and similar expressions, or statements that events, conditions or results "will", "may", "could"or "should" occur or be achieved. These forward-looking statements may include, but are not limited to, statements regardingperceived merit of properties; mineral reserve and resource estimates; capital expenditures; feasibility study results (including projectedeconomic returns, operating costs, and capital costs in connection with the Casino Project); exploration results at the Company's property;budgets; permitting or other timelines; economic benefits from the mine and/or the access road; strategic plans; market price of preciousand base metals; or other statements that are not statement of fact. The material factors or assumptions used to develop forward-lookingstatements include prevailing and projected market prices and foreign exchange rates, exploration estimates and results, continued availabilityof capital and financing, construction and operations, the Company not experiencing unforeseen delays, unexpected geological or othereffects, equipment failures, permitting delays, and general economic, market or business conditions and as more specifically disclosedthroughout this document, and in the AIF and Form 40-F.
Forward-looking statements are statements aboutthe future and are inherently uncertain, and actual results, performance or achievements of Western and its subsidiaries may differ materiallyfrom any future results, performance or achievements expressed or implied by the forward-looking statements due to a variety of risks,uncertainties and other factors. Such risks and other factors include, among others, risks involved in fluctuations in gold, copper andother commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuityand grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimatedeconomic return; risks related to joint venture operations; risks related to cooperation of government agencies and First Nations in thedevelopment of the property and the issuance of required permits; risks related to the need to obtain additional financing to developthe property and uncertainty as to the availability and terms of future financing; the possibility of delay in construction projects anduncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals;and other risks and uncertainties disclosed in Western's AIF and Form 40-F, and other information released by Western and filed with theapplicable regulatory agencies.
Western's forward-looking statements are basedon the beliefs, expectations and opinions of management on the date the statements are made, and Western does not assume, and expresslydisclaims, any intention or obligation to update or revise any forward-looking statements whether as a result of new information, futureevents or otherwise, except as otherwise required by applicable securities legislation. For the reasons set forth above, investors shouldnot place undue reliance on forward-looking statements.
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For further information: Sandy Noyes, Director, Investor Relations, 604.638.2520 or snoyes@westerncopperandgold.com
CO: Western Copper and Gold Corporation
CNW 06:00e 29-NOV-21