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Weststar's Red Chris Property, Lithium MAIM Permits Map |
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WestStar Claims Location Map |
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WestStar Claims Location Map |
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WestStar Claims Location Map |
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Red Chris Property: All Claims Map |
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Google Image Terrain Map |
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Google Image Terrain Map |
WESTSTAR ACQUIRES PROPERTY ADJOINING IMPERIAL METALS CORP. RED CHRIS, BC PROPERTY
Weststar Resources Corp. has purchased a 100-per-cent interest in 27 strategic claims in the Red Chris area of British Columbia. The claims are within 10 kilometres of the Red Chris copper-gold property owned by Imperial Metals Corp.
In a recent announcement (see the news release in Stockwatch dated Dec. 20, 2009, of Imperial Metals), results of drilling assays from Imperial Metals' Deep East zone at Red Chris included the following.
"Drill hole RC09-350 previously reported the highest grade intercepted at Red Chris to date (Stockwatch news, Nov. 9, 2009: RC09-350 returned 152.5 metres grading 4.12 per cent copper and 8.83 grams per tonne gold starting at a depth of 540 metres). The higher-grade material extends to 962.5 metres and averages 2 per cent copper and 3.8 grams per tonne gold over 432.5 metres. With all intervals assayed, drill hole RC09-349 intercepted 625.3 metres of 0.82 per cent copper and 0.93 gram per tonne gold starting at a depth of 390 metres."
The 27 claims acquired by Weststar cover an area of approximately 26,544.48 acres located to the northwest of the Red Chris property. Terms of the agreement include a cash payment of $10,000 and the issuance of one million shares of Weststar upon TSX Venture Exchange approval. A finder's fee is payable on this transaction. The acquisition is subject to the acceptance of the TSX-V.
The company is planning an exploration program to follow up on numerous historic copper showings located on the northwest portion of the newly acquired claims.
The company is also in preliminary discussions to acquire additional claims in the area, which if successfully concluded will be announced in Stockwatch in a timely manner.
Weststar acquires Additional 10 mineral claims near Red Chris
WESTSTAR ACQUIRES MORE CLAIMS IN RED CHRIS AREA
Weststar Resources Corp. has purchased a 100-per-cent interest in 10 mineral claims which are immediately adjacent and contiguous to the Red Chris copper-gold property owned by Imperial Metals Corp., in northwestern British Columbia. The 10 claims acquired by the company cover an area of approximately 2,175.7 acres. Results of drilling assays from Imperial metals Deep East zone at Red Chris included the following: "Drill hole RC09-350 previously reported the highest grade intercepted at Red Chris to date (Stockwatch news, Nov. 9, 2009: RC09-350 returned 152.5 metres grading 4.12 per cent copper and 8.83 grams per tonne gold starting at a depth of 540 metres). The higher-grade material extends to 962.5 metres and averages 2 per cent copper and 3.8 g/t gold over 432.5 metres. With all intervals assayed, drill hole RC09-349 intercepted 625.3 metres of 0.82 per cent copper and 0.93 g/t gold starting at a depth of 390 metres." Terms of the agreement include cash payments totalling of $40,000 and the issuance of two million common shares of the company upon TSX Venture Exchange approval. A finder's fee is payable on this transaction. The acquisition is subject to the acceptance of the TSX-V. The company is planning an exploration program to follow up on numerous historic copper showings located on the northwest portion of the newly acquired claims. The company has arranged, subject to the approval of the TSX-V, a private placement of up to 666,667 units at six cents per unit for total gross proceeds of $400,000. Each unit will consist of one common share and one transferable share purchase warrant, each warrant exercisable into one additional common share at a price of 10 cents per share for a period of two years from the date of closing. A portion of the proceeds will be used for acquisition of the property described above. The remaining proceeds of the placement will be used for general working capital. Finders' fees may be payable in whole or in part on the units issued under the financing, in accordance with TSX-V policy.
We seek Safe Harbor.
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