Penasquito continuity confirmed (August 05, 2002)

Vancouver — The latest assay results from a recently completed 6,900-metre drill program on the Penasquito base metal property in Mexico have prompted Western Copper Holdings (WTC-T) to drill an additional 7,000 metres.

The 15-hole program tested the continuity and extent of mineralization previously intersected in the Chile Colorado zone. The results outline a 500-by-350-metre zone of continuous mineralization. All of the holes intersected high-grade zones within the broad interval of mineralization.

Kilborn/SNC Lavalin has been hired to calculate a geological resource for the property. Drilling is slated to resume in August in an attempt to delineate the extent of mineralization southwest of Chile Colorado and in the area to the northeast, between holes 23 and 24.

Mineralization occurs in veins, stockworks and disseminations.