www.weststarresources.com
Weststar Resources Corp. (WER: TSX-V) is a mineral exploration company focused on discovering and advancing mineral properties with known historical resources . By utilizing modern geological science to evaluate historical known discoveries and deposits, Weststar offers the potential for rapid corporate growth and asset appreciation. Weststar's portfolio is currently focused in Canada and is primarily invested in coal and copper-gold properties.
Weststar Resources expands Yukon McKinnon gold claims
Weststar Resources Corp (TSX-V: WER, FSE: HN3) said it is acquiring a 100 percent interest in the Morgan claim group, tied on to the north of its McKinnon property in the Yukon.
The Morgan claims contain numerous historical workings. Since the early 1900s, exploration has included numerous trenches, three adits and three shafts and, more recently, three percussion holes and seven diamond drill holes, of which only four were systematically sampled and assayed for gold.
The McKinnon property, situated approximately 45 kilometres north of the White Gold property, includes an area of 13.5 square kilometers. The company carried out a soil sampling program over 11.5 line kilometers, obtaining 168 soil samples. Soil samples, at 50-metre intervals, were collected from two widely spaced parallel lines which traverse the claim area from north to south over a distance of approximately five kilometres. In addition, silts were collected along drainages in the northwest corner of the claim block.
An anomalous zone approximately 1,600 metres in length is demonstrated by samples with elevated gold values to 70 parts per billion and associated arsenic with up to 240 parts per billion.
The McKinnon property has had intermittent work since 1899 when explorers first found disseminated gold within a conglomerate sequence. Assessment reports from various authors suggest either a paleoplacer source for gold or possibly tectonic and related to a fault structure and/or a carbonaceous-rich portion of an extensive conglomeratic unit.
The next phase of work entails mobilizing a soil and rock sampling crew at first melt. A 100-metre grid soil-sampling program will concentrate on infilling between these new anomalies and will be combined with geological mapping and rock sampling to target follow-up backhoe trenching.
The Morgan claims can be acquired for acquisition costs of C$15,000 and 1.5 million Weststar shares. The property is subject to a 2 percent net smelter royalty, and the company has the option to acquire half of the NSR for C$1 million.
Weststar Resources focuses on discovering and advancing mineral properties by utilizing modern geological science to evaluate historical known discoveries. Its portfolio is currently focused in Canada.
