- West Mining (WES) has finalized a deal to acquire 100 per cent interest in its Kena and Daylight properties, collectively known as the Kena Project
- The project is located in the Nelson Mining District in southeastern British Columbia
- West now holds a 100 per cent interest in the Kena Project, subject to a one per cent Net Smelter Return (NSR) granted to Apex
- Over 37,000 metres of drilling have been completed to date on the project
- West Mining is up 4.76 per cent on the day, with shares of the company trading at $0.33 at 9:52 am ET
West Mining (WES) is acquiring a 100 per cent interest in its Kena and Daylight properties, collectively known as the Kena Project.
The Kena Project is located in the Nelson Mining District in southeastern British Columbia.
West now holds a 100 per cent interest in the Kena Project, subject to a Net Smelter Return (NSR) granted to Apex.
Apex holds a one per cent smelter returns royalty on the project, with West having the right to repurchase the NSR for C$500,000 at any time prior to the commencement of commercial production on the project.
Currently, over 37,000 metres of drilling have been completed to date on the project.
The Kena Project comprises three adjoining properties: Kena, Daylight and Athabasca. The Kena Property hosts the Kena Gold, Gold Mountain and Copper King showings together with the historic Euphrates and Gold Cup gold mines. The Daylight property contains the historic past producing Daylight, Starlight, Victoria and Great Eastern gold mines. Along trend to the north is the Athabasca Property, with the historic Athabasca Gold Mine. The historic mines and known mineralized zones on these three properties are structurally controlled along a 15 kilometre strike as identified by strong geophysical signatures.
“Securing 100 per cent ownership of our flagship Kena Project is a monumental step for the company. Historic gold production at Daylight bodes well for its future development. Coupled with data from over 37,000 metres of drilling and results of previous exploration programs outlining the copper potential at the Kena Copper Zone, West Mining Corp. is in an excellent position to advance the project with our first class Geological team and the treasury we have in place,” said West Mining President and CEO Nicholas Houghton.
West Mining is a mineral exploration company acquiring and developing advanced and prospective early stage exploration projects. It is fully focused on its 100 per cent owned 8,000 hectare Kena Project.
West Mining is up 4.76 per cent on the day, with shares of the company trading at $0.33 at 9:52 am ET.
