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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (130318)	8/7/2022 7:50:26 AM
From: Goose94	Read Replies (1) of 202936

Western Alaska Minerals (WAM-V) gyrations follow word that the company is offering two million shares at $4.10. The $8.2-million to be raised is for extending the company's drill program at the Illinois Creek project in western Alaska through to the end of the year. With two rigs present and working, the company expects the new cash will bring the full 2022 drill program to 10,500 metres. Most of the work is focused on the Waterpump Creek area, where stepout drilling seeks to gauge the overall footprint of the bonanza silver and base metals mineralization that the company discovered last year, and which has delivered more good news so far this year. Mr. Marrs, founder, president and chief executive officer, says that some of the cash will also go to exploration in the Last Hurrah area, in anticipation of drilling there in 2023. (Drilling years ago at Last Hurrah produced up to 22 grams of silver per tonne plus 6 per cent zinc and 2.2 per cent lead.) This year's focus remains Waterpump, a five-kilometre-long trend stretching from the main Illinois Creek area to the Last Hurrah region. The area became a focus after the company produced what it called "bonanza-grade" assays in one hole that returned 522 grams of silver per tonne plus 22.5 per cent zinc and 14.5 per cent lead across a true thickness of 9.1 metres. That encounter was hardly a shock, as the musty old records show that Anaconda Minerals Co. had drilled the area in the mid-1980s and hit a 6.8-metre true-thickness zone that averaged 771 grams of silver per tonne plus 10.5 per cent zinc and 9.8 per cent lead -- and with two other holes coming close to those numbers Business Reporter

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