10:48:08 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



Westminster Resources Ltd (4)
Symbol WMR
Shares Issued 25,320,495
Close 2018-07-30 C$ 0.105
Market Cap C$ 2,658,652
Recent Sedar Documents

Westminster to acquire 10,858 hectares in Saskatchewan

2018-08-07 10:45 ET - News Release

Mr. Glen Indra reports

WESTMINSTER ACQUIRES NEW COPPER PROPERTY IN CANADA

Westminster Resources Ltd. has entered into a letter of intent to acquire an attractive land package in the promising La Ronge district of Saskatchewan. The project package consists of 10,858 hectares within a group of claims historically focused on nickel/platinum group element, orogenic gold and VMS (volcanogenic massive sulphide) deposit types.

Glen Indra, Westminster's president and chief executive officer, commented: "We continue to think this is a good time to acquire interesting projects in the copper space. The La Ronge district has long been prospective for numerous metals, and its copper potential is now only being studied. I'm particularly excited that there is an extensive data set to be recomplied and reinterpreted to advance the project quickly and cost-effectively."

The 10,858-hectare land package consists of two contiguous claims within the La Ronge and Rottenstone domains and are located approximately 60 kilometres northeast of the town of La Ronge, Sask., with nearby road access from Highway 102. The property has numerous mineral occurrences, which include copper, but also nickel, gold, lead, zinc and uranium. In addition, there are several known historical geophysical conductors identified on the southern part of the package which are of interest.

Regionally, the La Ronge domain comprises dominantly the 150-kilometre-long-by-10-kilometre-to-20-kilometre-wide Central Metavolcanic belt, bordered by the Crew Lake belt of metasedimentary assemblages to the northwest and the MacLean Lake belt of meta-arkosic rocks to the southwest.

Terms of the acquisition include making exploration expenditures totalling $400,000 over three years and issuing four million shares in two equal tranches to earn an 80-per-cent interest in the property, subject to TSX Venture Exchange approval. Westminster will be receiving additional historical data for compilation and reinterpretation within the 30-day due diligence period.

This news release has been reviewed and approved by Derrick Strickland, PGeo, a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Westminster Resources Ltd.

Westminster Resources is a Latin American-focused mining exploration company. The company is in the process of acquiring a 100-per-cent interest in a package of highly prospective copper properties in southern Peru. These properties total over 36,000 hectares within the country's prolific coastal copper belt -- the source of nearly half of Peru's copper production. The company also holds a 100-per-cent interest in the 18,000-hectare El Cobre property in Sonora, Mexico, prospective for world-class epithermal and copper-gold porphyry systems.

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