Halted, WER-don't own it:
WESTSTAR ACQUIRES "18 METER" COAL PROPERTY, ANNOUNCES PRIVATE PLACEMENT AND APPOINTS NEW DIRECTOR
WeststarResources Corp., subject to regulatory approval, has entered into aletter of intent with a group of arm's-length vendors, pursuant towhich the company has acquired 72 coal permit applications, known asthe 18 Meter property, located approximately 70 kilometres northwest ofthe recent coal discovery of Goldsource Mines Inc. coal discovery, nearthe community of Hudson Bay, Sask. The coal lease applicationsencompass approximately 138,240 acres or 55,944 hectares. The coallease applications have been granted priority status by theSaskatchewan ministry, and the company has been informed thatprocessing of these permits should be completed within the next two tothree weeks.
The coal permits are underlain by sandstones andshales of the Cretaceous-aged Mannville group. During a 1994exploration program conducted by Consolidated Pine Channel GoldCorporation, an approximately 18.84-metre-thick coal interval between47.70 metres and 66.54-metre depth was identified, at the property. Thediscovery was made while testing a magnetic geophysical anomaly forkimberlite. The historical drill log (TL02-2, assessment report63E-0004) indicates: |
