on Aurwest Resources Corporation (CVE:AWR)
Aurwest Resources Secures Interest in Weaver Lake Gold Project
Aurwest Resources Corporation has signed a non-binding Letter of Intent with Pacific Bay Minerals Ltd. This agreement allows Aurwest to earn a 50% interest in Pacific Bay's Weaver Gold Project in British Columbia over three years. The project, located in the East Harrison Lake Belt, is known for its high-grade gold and silver mineralization. Historical exploration has shown promising results, bolstered by excellent infrastructure and further potential for nickel-copper sulphide mineralization.
Under the terms, Aurwest will make cash and share payments and invest in exploration. Payments include $10,000 and 500,000 shares initially, followed by subsequent payments and exploration work over three years. The project represents a strategic move for Aurwest into the British Columbia gold sector.
R. E.
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