Business
ArcWest Provides Exploration and COVID-19 Health and Safety Update
Vancouver, British Columbia--(Newsfile Corp. - May 21, 2020) - ArcWest Exploration Inc. (TSXV:...
About this update from Arcwest Exploration Inc.
[{"type":"text","content":"ArcWest Provides Exploration and COVID-19 Health and Safety UpdateVancouver, British Columbia--(Newsfile Corp. - May 21, 2020) - ArcWest Exploration Inc. (TSXV: AWX) (\"ArcWest\") is pleased to provide an update on partner-funded exploration activities planned for 2020. Collectively, ArcWest's porphyry copper-gold-molybdenum projects will undergo a minimum of $1,050,000 CAD in partner-funded exploration in 2020 including a first phase drill program at Teeta Creek (optioned to Teck Resources Limited \"Teck\" in October 2019); as well as mapping, sampling and geophysical programs at NVI (optioned to Teck in December 2019) and the Oxide Peak projects (optioned to Locrian Resources Inc. \"Locrian\" in December 2019). Details regarding the Teeta Creek, NVI and Oxide Peak earn-in and joint venture agreements can be found in ArcWest 2019 press releases dated October 15th, December 20th and December 23rd respectively.Tyler Ruks, President and CEO of ArcWest commented: \"ArcWest is pleased to explore its northern Vancouver Island and Kemess district porphyry copper-gold-molybdenum projects in partnership with Teck and Locrian, respectively. These agreements are consistent with ArcWest's goal of attracting partners to explore and develop projects while minimizing shareholder dilution. Advanced stage discussions with prospective partners for ArcWest's additional porphyry copper-gold projects throughout British Columbia are ongoing.\"Teeta CreekArcWest's 100% owned, road accessible Teeta Creek project is located near Port Alice on Northern Vancouver Island. Teeta Creek is 23 kilometers south of BHP-Billiton's past producing Island Copper porphyry copper-molybdenum-gold mine and 40 km south of NorthIsle Copper and Gold's advanced stage Hushamu porphyry copper-gold project, currently being explored under an earn-in agreement with Freeport McMoRan. Porphyry copper mineralization at Teeta Creek was explored between 1967 and 1976 by Newmont, Cities Service Mineral Corp. and others. Eleven diamond drill holes completed during this period outlined a 950 by 500 meter zone of porphyry copper mineralization which remains open in all directions. Highlight drill intercepts include 0.35% Cu over 67.1 meters in S75-1, and 0.36% Cu over 36.5 meters in S68-3. Recent work by ArcWest and Seven Devils Exploration identified broad zones of intensely altered po...