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 appoints executive chairman
Weststar Resources (CVE:WER) announced Tuesday the appointment of David Michaud to the company's board of directors as executive chairman.
Michaud brings over 20 years of experience in mining engineering, and has field experience in the mining industry in both North and South America, having worked for several large-scale mining companies.
For the last year, Michaud has been doing consulting work for MetallurgyInMotion. Prior to this, he was acting as operations manager to Corriente Resources, and was involved in the feasibility study of the large-tonnage copper-gold project in South America.
Michaud's appointment comes less than one month after Weststar announced its initiation of a $9 million private placement financing, to go towards its acquisition of the past-producing La Paloma concession in Jalisco State, Mexico.
Weststar entered a Letter of Intent (LOI) agreement in March with Lekona Minerals, under which Weststar is currently exercising its option to acquire an 80% undivided stake in the La Paloma property.
Gold and silver production at the La Paloma mine dates back over 400 years. Samples taken from the area in late March indicate up to 49.2 grams per tonne (g/t) gold and up to 385 g/t silver.
Weststar's shares on the TSX Venture Exchange have been rising all year, hitting $1.30 in early May, after its LOI announcement. On Tuesday afternoon, its shares were trading at $1.04 each.
