Business
Western Star Resources Announces Entry into Agreement to Acquire Toad River Copper-Cobalt Property and Announces Grant of Incentive Awards
TheNewswire - July 20, 2023 - Western Star Resources Inc. (CSE:WSR) (the “Company” or “Western Star”) is pleased to announce that it has entered into an agreeme
About this update from Western Star Resources, Inc.
[{"type":"text","content":"TheNewswire - July 20, 2023 - Western Star Resources Inc. (CSE:WSR) (the “Company” or “Western Star”) is pleased to announce that it has entered into an agreement (the “Agreement”) to acquire (the “Acquisition”) the Toad River Copper-Cobalt property (the “Property”) located in the Peace River North area of British Columbia. The Property is located 56km south of Muncho Lake (Alaska Highway) and 16km west of the historically producing Churchill Copper Mine. Property highlights1: Assays of 15.60 % and 14.80% Copper; Measured 730 meters of known strike length; Copper Mineralization Chalcopyrite Bornite; and Possible Erythrite (a Hydrous cobalt arsenate). Blake Morgan, the CEO and President of Western Star, stated “The 100% acquisition of the Toad River Copper-Cobalt Property is a huge accomplishment and a move in the right direction for the Company. The 730 meters of strike length and the identification of copper and cobalt minerals indicate that a much larger mineralized system is proximal. With extremely high-grade copper values on this asset, our team is going to crunch the data and then work to get crews on the ground to follow up on these numbers. With the demand for copper set to outstrip supply, I am looking forward to beginning exploration for cobalt and copper on the Property.” The Property hosts approximately 730 meters in length of dissentious vein type copper mineralization, in the form of Chalcopyrite, Bornite, and Pyrite within the Proterozoic rocks of the Aida formation. In 1970 Canadian Superior Exploration Limited collected fifteen (15) continuous chip samples across various sections of the mineralized veins. Their copper assay values, along with the sample widths, are given below1: Sample No Meters Cu % ME- 1 1.34 4.10 ME- 2 1.16 2.40 ME- 3 0.15 13.80 ME- 4 0.43 7.40 ME- 5 0.30 4.80 ME- 6 1.01 8.20 ME- 7 0.61 1.07 ME- 8 0.55 5.45 ME- 9 0.85 2.70 ME-10 0.18 1.98 ME-11 0.61 15.60 NE-12 1.13 14.80 ME-I3 0.30 2.40 ME-14 0.30 5.35 ME-15 0.67 1.55 The veins occur as discontinuous, lens-shaped pods of variable dimensions with widths between 15 and 90 centimeters and lengths of less than 25 meters. Situated primarily along the northwest margin of a steeply dipping, northeast-striking dyke which transects a number of north trending dykes. Less significant veins occur in proximity or adjacent ...