Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • West Mining (WEST) has acquired 17 mineral claims, totalling 856 hectares
  • The claims are contiguous to the company’s flagship Kena Gold and Copper project
  • The project is located in the Nelson Mining District in southeastern British Columbia
  • The claims include the historic Athabasca Mine, a portion of the historic California Mine
  • West Mining is down 14.71 per cent on the day, with shares of the company trading at C$0.87 at 1:13 pm ET

West Mining (WEST) has acquired 17 mineral claims, totalling 856 hectares.

The claims are contiguous to the company’s flagship Kena Gold and Copper project.

The project is located in the Nelson Mining District in southeastern British Columbia.

The claims include the historic Athabasca Mine, a portion of the historic California Mine and the Princess Reverted Crown Grant.

West Minerals paid $27,087 and issued 85,000 of its common shares with an aggregate value of $85,000, representing an issue price of $1.00 per share, as part of the agreement. Those shares are subject to a four-month hold period in accordance with securities laws.

“We are truly excited to get on the ground and evaluate these new claims with the goal of extending our flagship Kena Property’s gold mineralization further to the north. When opportunities arise such as this with the accompanying knowledge of historical production it can only be beneficial for the Company and our shareholders as we continue to build our gold and copper portfolio,” said West Mining Corp. President and CEO Nicholas Houghton.

The historic Athabasca Mine was discovered in 1896 and had intermittent production through the early 1900s. Total production was 41,779 tonnes mined and 20,219 tonnes milled at an average milled grade of 30 grams of gold per tonne of material mined, 10 grams of silver per tonne of material and with minor credits of lead, zinc and copper. Gold occurs as predominantly as free grains and also within sulphide minerals in quartz veins ranging from 0.3 to 1.5 metre widths.

West Mining Corp. is a mineral exploration company with a portfolio of highly prospective projects in world class mining camps.

West Mining is down 14.71 per cent on the day, with shares of the company trading at C$0.87 at 1:13 pm ET.

More From The Market Herald

" Osino Resources (TSXV:OSI) upsizes private placement

Osino Resources (OSI) has increased the size of its private placement due to strong investor demand.

" South Star Battery Metals (TSXV:STS) increases non-brokered private placement

South Star Battery Metals (STS) has announced an increase to its non-brokered private placement of units to raise approximately $2,300,000.

" EMX (TSXV:EMX) closes royalty portfolio acquisition from SSR Mining

EMX Royalty Corp. (EMX) closed its acquisition of royalty interest and deferred payments from SSR Mining Inc. and certain subsidiaries.

" Omai Gold (TSXV:OMG) continues outlining gold mineralization

Omai Gold Mines (OMG) is reporting additional results from the drilling program currently underway at the Omai Gold Project in Guyana.