PRINCETON CREATES NEW EXPLORATION COMPANY
VANCOUVER, Jan. 28 /CNW/ - Princeton Mining Corporation
announces the formation of Aquest Minerals Corporation to hold
all of its exploration interests and activities in Chile. It is
Princeton's intention to have Aquest become a publicly traded
company in the second quarter of 1997.
In conjunction with the formation of Aquest, Princeton is
pleased to announce the appointment of Dr. Thomas I. Vehrs as
President and Chief Operating Officer of Aquest Minerals
Corporation and its wholly owned Chilean subsidiary, Minera
Princeton Chile Ltda. Mr. Don Graham, P.Eng., will continue in
his role as Vice President. Both Dr. Vehrs and Mr. Graham are
based in Santiago.
Dr. Vehrs graduated in geology from the University of
Wisconsin-Oshkosh in 1968 and completed his doctorate degree in
geology at Syracuse University in 1975. In 1980, Dr. Vehrs was
appointed Exploration Manager for Anaconda in Chile and directed
the successful exploration program at the world class Los Pelambres
porphyry copper deposit as well as the initial exploration leading
to the identification and discovery of the San Cristobal
disseminated gold deposit.
More recently, as the South American Exploration Manager for
Cyprus Amax Minerals Company, he led acquisition and exploration
efforts resulting in the discovery of a major porphyry copper
deposit in Peru and also participated in the evaluation and
successful acquisition of the Cerro Verde and El Abra porphyry
copper deposits in Peru and Chile. Dr. Vehrs has also been
involved in major gold discoveries in northern Mexico and in
central Nevada.
Minera Princeton has been actively exploring in Chile since
1989 and has acquired and advanced numerous attractive projects.
Projects being advanced include the Elenita manto copper deposit,
the Tierra de Oro gold/copper prospect, the Rio Lluta porphyry
copper prospect, and promising gold prospects at the El Milagro
and Nancagua properties. Additional properties are currently
being evaluated for possible acquisition.
Mr. J.C. O'Rourke, Chairman of Princeton, welcomes Tom Vehrs
as President to Aquest Minerals Corporation. The Directors are
confident that his strong discovery record and extensive South
American experience will bring benefit and value to our shareholders.
For further information: Susanne Gallant, Corporate Relations, tel. (604) 688-2511, fax (604) 688-4772 |
