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Gold/Mining/Energy : East West Res. -- Ignore unavailable to you. Want to Upgrade?

To: dave brown who wrote (249)	2/22/1999 6:20:00 PM
From: dave brown	Read Replies (1) \| Respond to of 253

East West acquires platinum-palladium property East West Resource Corp EWR Shares issued 25,494,421 1999-02-19 close $0.13 Monday Feb 22 1999 Mr. A.K. Crossley reports The company has purchased a second property consisting of 112 claim units in the Lake Nipigon region of Northern Ontario, approximately 20 miles northeast of the Lac des Iles platinum-palladium mine near Thunder Bay. The property covers a five-kilometre-long magnetic feature that is interpreted to reflect a large zoned ultramafic body which is the favourable host for nickel-copper-platinum-palladium deposits. A number of other ultramafic bodies occur in the region containing significant PGE values which are now being actively explored by other companies. The only producing platinum-palladium mine in Canada, located at Lac des Iles, is hosted in a zoned ultramafic-gabbro intrusion near the boundary of the Quetico fault, but is also on the fringe of the Nipigon plate where a number of favourable structures occur that create an ideal setting for PGE bearing host rocks. The claims were purchased for $15,000 and 25,000 shares with three more equal share instalments every six months totalling 100,000 shares over 1.5 years. A 1 per cent net smelter royalty which may be purchased for $500,000 has been retained by the vendor. Exploration using ground magnetics and IP is planned for March 1999, followed by drilling. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)