October 15, 1997 - Western Copper Holdings Limited (the ''Company'') is pleased to announce the appointment of
Mr. Michael Halvorson to the Board of Directors. Mr. Halvorson is the principal of Halcorp
Capital Ltd., a private firm that provides corporate finance and development services. Other
directorships include Trillion Resources Ltd., Viceroy Resource Corporation, Gentry Resources
Ltd. and Oro Belle Resources Corporation. Mr. Halvorson replaces Mr. Brian Bayley who
recently resigned from the Board to pursue other business interests.
In the State of Zacatecas, the El Salvador Joint Venture Project with Teck Corporation continues
to show promise. Recent diamond drilling has extended the massive sulfide zone an additional 50
meters to the northwest. Diamond drill hole SAL 22, drilled 50 meters north of SAL 13 on line
200 at 250 west, intersected 4.5 meters grading 0.7 grams per ton gold, 76 grams per ton silver,
0.97% copper 0.79% lead and 1.42% zinc. Contained within this intersection was .7 meters of
4.2 grams per ton gold, 455 grams per ton of silver, 6.1% copper, 4.34% lead and 7.62% zinc.
SAL 23, drilled 75 meters west of SAL 22, intersected 2.2 meters grading 0.27 grams per ton
gold, 47.4 grams per ton silver, 0.44% copper, 1.89% lead and 4.58% zinc. Diamond drill hole
SAL 20, drilled on line 00 at 100 west, intersected 2.2 meters grading 0.634 grams of gold per
ton, 138 grams per ton silver, 0.26% copper, 1.19% lead, and 2.12% zinc, The El Salvador
zone remains open both to the northwest and southeast. A recent ground based Induced
Polarization survey indicates the zone continuing to the northwest for an undefined distance.
Large Induced Polarization anomalies both to the west and east of the El Salvador zone have also
been detected. Diamond drilling is to commence towards the end of October to test both the
extension of the El Salvador zone and the other anomalies.
At the Company's Nieves District property, one of eight properties in the Faja de Plata land
package (1,000 square miles in the State of Zacatecas) optioned from Minera Kennecott, a
subsidiary of Kennecott Exploration Company, recent diamond drilling has confirmed the
continuation of high-grade silver values encountered earlier in a reverse circulation hole drilled by
Kennecott and diamond drilling done by the Company. A detailed geochemical survey is
currently underway to better define the lateral extent of this and other zones contained within the
property. An additional 150 square miles have been staked by Kennecott at Nieves (subject to the
Western/Kennecott option agreement) to ensure that the known mineralized zones are adequately
protected. Drilling of the high grade silver zone and other mineralized zones will commence
following completion of the geochemical survey.
For further information: F. Dale Corman, President (916) 265-0653 or (604) 684-9497 or
Robert J. Gayton, Vice President (Finance) (604) 684-9497 |
