Mr. Nader Vatanchi reports
WEST MINING CORP. ANNOUNCES EXPLORATION PROGRAM ON JUNKER COPPER GOLD SILVER PROPERTY
West Mining Corp.'s continuing compilation of multiple geological, geophysical and geochemical data sets has identified targets for further exploration in a planned summer field program at the Junker copper-gold-silver property in north-central British Columbia.
The field program will follow up and expand upon targets identified from limited rock sampling in 2021 that yielded significant copper, gold and silver results. A total of 10 rock/float samples returned highest copper values of 5.53, 2.29, 2.20 and 1.38 per cent, as well as silver values of 24.00, 5.12, 8.46 and 11.85 parts per million from the same samples. A high value of 0.85 ppm gold was returned from another sample from the same area. All of these mineralized samples are from the vicinity of the Junker mineral showing established in 2004 based on a grab sample carrying 1.08 ppm Au (B.C. Minfile No. 094E 299).
A recently completed multispectral satellite data analysis adds new targets for West Mining's 2025 field program. The multispectral analysis independently identified the Junker mineral showing based on principal component analysis and another 46 sites worthy of follow-up field inspection. Images from three multispectral satellites (Sentinel-2 MSI, Landsat-8 and Aster), as well as radar from the Alos Palsar sensor to create a digital terrain model, were analyzed leading to the new PCA targets. The multispectral analysis was completed for West by Avant Exploration. As noted above, these multispectral targets independently identified the Junker mineral showing with its strong Cu, Au and Ag mineralization, as well as new locations to follow up in the 2025 field program.
These new multispectral targets are being integrated with a recently completed detailed geophysical interpretation of the high-resolution heliborne magnetic survey completed by Precision Geosurveys for West in 2021. The most favourable targets will be followed up in the field for further sampling and evaluation.
Nader Vatanchi, West Mining's chief executive officer, said: "The recent work we have done is a positive step as it gives us new targets in addition to the previous work done in 2021. We look forward to our field program and continued progress on our Junker project."
Harrison Cookenboo, PhD, PGeo, a qualified person for the purpose of National Instrument 43-101, has reviewed and approved the contents of this news release.
The company also announces that it has issued an aggregate of 1.3 million restricted share units, with 300,000 RSUs being issued to an officer of the company and the remaining one million RSUs being issued to consultants for the company. The RSUs vest immediately and, along with any common shares issued thereunder, are subject to a four-month hold period in accordance with the policies of the Canadian Securities Exchange.
The issuance of RSUs to the officer of the company is a related-party transaction as defined under Multilateral Instrument 61-101. The issuance is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the transaction does not exceed 25 per cent of the market capitalization of the company as determined in accordance with MI 61-101.
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