Western Exploration was born out of a 25-year history of advancing exploration projects in Nevada as a private company. Its principal asset is its 100%-owned, 6,000-hectare Aura gold-silver project, located in Elko County, Nevada, approximately 120 kilometers north of the city of Elko.
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I’m Katriina Cotten for Investmentpitch Media
Today’s feature company is Western Exploration (TSXV:WEX) (OTCQX:WEXPF), a Nevada-focused precious metals exploration company, aiming to be a premier gold and silver development company in North America.
Western Exploration began trading on the TSX Venture Exchange on January 19th, following its RTO of Crystal Peak Minerals.
The company was born out of a 25-year history of advancing exploration projects in Nevada as a private company.
Its principal asset is its 100%-owned, 6,000-hectare Aura gold-silver project, located in Elko County, Nevada, approximately 120 kilometers north of the city of Elko.
In 2017, Agnico Eagle Mines became a partner and has invested more than US$14 million and currently owns approximately 18% and provides technical expertise through a joint technical committee with Western Exploration's management team.
The Aura Project, accessible year-round by highway and county roads with access to water and electricity nearby, is located 32 kilometers north of the Jerritt Canyon mine, which has been in continual operation since 1981.
Aura Project is unique in the junior mining space as it has a NI 43-101 Resource Estimate technical report reflecting an indicated resource of 652,271 gold equivalent ounces at 1.43 grams per tonne and an inferred resource of 665,357 gold equivalent ounces at 1.71 grams per tonne.
The Resource Estimate was based on three different deposits, the Doby George, Gravel Creek, and Wood Gulch, a former operating mine.
At Doby George, the current mineral resource is defined by more than 800 drill holes completed between 1997 and 2017.
Results from the previous metallurgical testing completed on 26 bottle rolls and 23 column leach samples indicate that heap leach gold recoveries approaching 70% can be expected.
A synthesis of exploration work conducted at the Aura Project from 1997 to 2021 has resulted in the creation of a robust geologic model, which offers significant potential for resource expansion and new discovery.
In the last two years, the company has compiled all historic data to develop a three-dimension model and establish a focused exploration program for the Aura Project.
It has also advanced the project to a stage where limited additional metallurgical work can lead to the commencement of a pre-feasibility study.
Darcy Marud, Western Exploration’s CEO has joined us today to discuss the company and its upcoming plans. Welcome Darcy
Thank you Darcy.
The shares are trading at $1.70.
For more information please visit the company’s website, www.WesternExploration.com, contact Nichole Cowles, Investor Relations, at 775-240-4172 or by email at NicholeCowles@WesternExploration.com.
I’m Katrina Cotten for Investmentpitch Media
