First Western busy in Quebec

Two base metal properties in northern Quebec will be explored under an agreement between Band-Ore Resources (CDN) and First Western Minerals (VSE).

In return for a 51% working interest, First Western has agreed to spend $2.5 million on the two properties and make certain cash and share payments to Band-Ore.

Airborne geophysics, budgeted at $450,000, will be undertaken immediately.

An additional 29% interest can be earned in either property by making further cash payments to Band-Ore.

The properties are near Ungava Bay in the Labrador Trough. The OBC property features 10 base metal occurrences in volcanic host rocks. The Due Diligence property has two zones of copper-nickel mineralization, with some gold, platinum and palladium values as well. Band-Ore reports a possible resource of 1.2 million tons grading 1.38% copper and 0.32% nickel.

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