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Western Copper and Gold Announces Acquisition of Canadian Creek Property from Cariboo Rose
(via TheNewswire) VANCOUVER, B.C. - TheNewswire - July 30, 2019 - Cariboo Rose Resourc...
About this update from Cariboo Rose Resources Ltd.
[{"type":"text","content":"Western Copper and Gold Announces Acquisition of Canadian Creek Property from Cariboo Rose(via TheNewswire)\n\n \nVANCOUVER, B.C. - TheNewswire - July 30, 2019 - Cariboo Rose Resources Ltd. (TSXV:CRB) (\"Cariboo Rose\") and Casino Mining Corp. (\"Casino Mining\"), a wholly owned subsidiary of Western Copper and Gold Corp. (TSX:WRN) (NYSE MKT:WRN) (\"Western\") are pleased to announce that they have entered into a property purchase agreement dated July 29, 2019 (the \"Agreement\") whereby Casino Mining has agreed to purchase the 311 mineral claims that comprise the Canadian Creek Property (the \"Property\") owned by Cariboo Rose (the \"Acquisition\"). The Property lies directly adjacent to Western's Casino Project (\"Casino\").\n\n \n \nThe total consideration to be paid to Cariboo Rose for the Property will consist of the issuance of 3 million common shares of Western (the \"Shares\") at a deemed price of C$0.928 per Share for an aggregate Acquisition cost of C$2.78 million.\n\n \n \nKEY HIGHLIGHTS\n\n \n \n\n\n- Potential Extension of the Casino Project: The Acquisition would secure critical ground immediately adjacent to the Company's Casino Project, and there is likelihood that the Casino deposit will extend into the Property. The immediate plan following closing would be to begin drilling on Canadian Creek as part of the current drill program at Casino in hopes of identifying additional mineralization. The primary target is a 700 meter untested area between the most westerly Casino drill holes and the closest drill-holes on the Canadian Creek Property. The nearest four holes on the Canadian Creek Property to Casino have moderate potassic alteration to strong propylitic alteration, leach capping or incipient leaching, weak enrichment and hypogene copper-gold-molybdenum mineralization, which are typical of that occurring at the outer edges of a porphyry copper - gold - molybdenum deposit.\n\n\n\n- Additional Exploration Potential: An additional target for porphyry copper-gold-molybdenum mineralization is the Ana Zone lying 1.5 kilometers west of the primary target. The historical drill holes testing the Ana Zone show consistent moderate to strong propylitic to potassic alteration associated with anomalous levels of copper, gold and molybdenum. Within this alteration are small bodies of intrusion breccia and Patton Porphyry, bo...