Latin America-focused copper miner now eyeing Canada
Mining News Pro - Latin America-focused Westminster Resources (TSX.V: WMR) announced today that it has signed a letter of intent to acquire a land package in the La Ronge district of Saskatchewan, central Canada.
In a press release,
the miner said that the project package consists of two contiguous
claims 60 kilometres northeast of the town of La Ronge. The land
extends for 10,858 hectares and historically its focus has been on
nickel-PGE, orogenic gold and VMS deposit types.
Westminster reports that the property has numerous mineral occurrences, including copper, nickel, gold, lead, zinc and uranium.
Under the terms of the acquisition, the Vancouver-based company has
committed to 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.
“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
dataset to be recompiled and reinterpreted to advance the project
quickly and cost-effectively,” the firm’s President and CEO, Glen Indra,
said in the media brief.
Westminster`s main assets are two deposits called Ilo Este and Ilo
Norte in Peru`s coastal copper belt, and the El Cobre property in
Mexico`s Sonora state.