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Gold/Mining/Energy : Western Copper Holdings Ltd. T.WTC
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To: Triumph Street Capital Corp. who wrote ()3/20/1998 2:46:00 PM
From: Rocky510  Read Replies (1) of 401
 
***NEWS RELEASE*** 20 MAR 98 - Assay results from San Nicolas deposit

Western Copper Holdings Limited WTC
Shares issued 10,726,393 Mar 19 close $7.60
Fri 20 Mar 98 News Release
See Teck Corp (TEK.B) News Release
Mr William Meyer reports
Teck Corporation and Western Copper Holdings have received assay results
for holes SAL-44, 45, 46 and 47 from the San Nicolas deposit in Zacatecas,
Mexico. Teck and Western are very pleased with results to date and future
drilling is targeted at determining the dimensions of the deposit.

Thick
>From To ness Cu Zn Ag Au
(m) (%) (%) g/t

Hole SAL-44

194.8-202.7 7.9 3.51 18.29 125.9 0.89
216.4-243.6 27.2 1.45 10.52 106.6 1.28
459.3-473.5 14.2 2.25 0.79 18.5 0.20

Hole SAL-45

161.6-176.5 14.9 0.94 5.48 73.4 1.32
297.7-325.7 28.0 4.02 0.74 15.4 0.18

Hole SAL-46

267.0-285.6 18.6 0.71 0.88 16.8 0.34

Hole SAL-47

239.6-251.6 12.0 0.21 3.46 36.4 1.10

Teck and Western have an arrangement whereby Teck will finance Western's
portion of exploration and development costs to be incurred under the El
Salvador joint venture up to a maximum of US$3,000,000 for a period of one
year. Western and Canaccord Capital Corporation have mutually agreed to
terminate the previously announced special warrant financing.
These funds will initially finance the further exploration and delineation
of the volcanogenic massive sulphide San Nicolas deposit.
The facility is for a one year term, terminable by Teck on 30 days notice,
after an initial 90 day term, and re-payable no later than 60 days after
the end of the one year term. The loan under the facility will be payable,
at the election of Western, in cash or shares of Western valued at the
weighted average price for a Western common share on the TSE for a 10
trading day (20 trading days at maturity) period.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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