DESCRIPTION: Western Pacific is a well-managed junior resource company focused on acquiring and drilling quality gold projects in the Western United States—one of the most mining-friendly jurisdictions around the globe. Upside for shareholders lies in the prospect of discovering a multimillion-ounce gold deposit at one or both of the core assets, Mineral Gulch in Idaho and South Lida in Nevada. Risk for shareholders is mitigated through the JV model.
The information provided below is based on the most recent information we have received from analysts, newsletters and other contributors to Streetwise Reports' The Gold Report or The Energy Report. We encourage you to visit the company's web site and call the company for more specifics on this company before you decide to invest.
"One of the things that attracted me to Western Pacific Resources is its management team. This is a pretty special set of people that I think stands a very good chance at making this company successful. The company has its projects situated in Nevada and Idaho. The projects are Mineral Gulch, South Lida, Meridian Ridge, Bombardier and Rock Springs. Mineral Gulch seems to be of the highest priority as it has had previous mining on it of around 500 Koz. This mining was primarily oxide material out of multiple pits. Most of the defined pits have been mined with the exception of a few. That said, there is a strike length in excess of 3.2 km. and depths varying from 120–300 ft. for the pits. The sampling that has been done was primarily channel sampling that has returned grades as good as 15 g/t over 3m in the Tallman Pit. There are other results that have produced nearly 6 g/t over similar sample lengths.
The company plans on drilling this project in the near future, and I would suspect the bulk of the upward movement on this company would come from this project. . .I would look for positive results coupled with a strong market in the months to come, which would bode favorably for Western Pacific Resources."
The Gold Report Interview with James West (08/13/10)
"The asset that I'm most excited about is this Mineral Gulch in Idaho, which had historical production of 525,000 ounces. . .Collectively, [Curt Everson and Eric Sanderholm are] responsible for the discovery of over 30 million ounces of gold in their careers. I get very excited when I see a team like that get together with guys like Simon Ridgway and Warwick Smith, who have financed over $300 million in deals in the last three years—when a lot of people couldn't raise a dime. Then I see a project like Mineral Gulch that produced 525,000 ounces in oxide mineralization in a Carlin-style system, where deposits start off small and often get bigger as they get deeper. They could be into 5–20 million ounces in sulfides. That's what they're about to drill on. That's what gets me excited about that company."
View Entire Article: James West: Financial System Headed South
Lawrence Roulston, Resource Opportunities
(08/12/10)
"Western Pacific is a new exploration company formed around a highly successful geological team. The company has several enticing gold targets in and around Nevada. The most interesting target is located just across the border in Idaho: A past-producing mine with considerable gold left in place by the previous operator. More importantly, the geological team sees exploration potential that could dwarf the half million ounces recovered from that mine in the 1990s. . .Based on [Mineral Gulch] results to date, chances are good that the work this year will support a preliminary estimate in excess of 1 Moz., with the ultimate potential well beyond that figure.
At this time, Western Pacific is, strictly speaking, an exploration play. However, the historic information on the Mineral Gulch property provides considerable evidence that there is a historic resource on the project that can be quickly worked into a compliant resource, with the potential to eventually outline a multimillion-ounce deposit. The Nevada gold projects provide a great deal of blue-sky exploration potential."
Greg McCoach, Mining Speculator
(07/31/10)
"Western Pacific Resources Corp. has released the first pass sampling at the company's Mineral Gulch project, which has returned excellent gold assays over significant sample widths. Highlights include the following channel samples:
MG-ES-005, which returned 15 g/t Au over 3m from the Tallman pit (carbonaceous sample);
MG-ES-007, which returned 5.8 g/t Au over 3m from the Tallman pit (oxide sample);
MG-ES-025, which returned 1.6 g/t Au over 9.1m from the D pit (oxide sample).
The average grade is in line with the historical average production head grade of about 1.5 g/t Au reported by Pegasus Gold. . .The best gold results were returned from carbon-rich rocks collected at the northwest end of the Tallman pit. Structurally deformed areas such as folded shales also returned good results. The results confirm management's belief that significant potential exists at Mineral Gulch. This will be investigated by additional mapping and sampling and a planned drill program later in the field season (pending permits). I am anxious for results to come from this project, which I believe will dramatically grow our resource once serious drilling can begin. This mine has a lot more life to it as gold prices head much higher. The company needs to demonstrate this to the market and the investors will come."
Bob Moriarty, 321gold (05/26/10)
"Western Pacific is a new company that comes with no baggage, no rollbacks. . .The project I went to see is their primary focus even though they have three secondary projects in Nevada. They want to focus on Nevada even if Mineral Gulch, formerly the Black Pine Mine, happens to be located just inside the Idaho border. Eric Sanderholm and Curt Everson literally took a ruler and extended the Bald Mtn./Long Canyon trend onto the map of Idaho and there was Black Pine. They picked it up for the cost of staking and vended it into the new Western Pacific Resources in exchange for shares. That was probably the best move I have seen made by a company in years. That's teamwork.
Western Pacific [is a] young company operated out of an office with a lot of successful operations under [its] belt. The management is highly experienced. . .they have much of the old data from Noranda, so [they] can hit the ground running."
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