Western Copper joins Teck in Mexico

Further exploration and development of the copper property known as El Salvador, in the Mexican state of Zacatecas, will be carried out by Teck (TEK-T) and Western Copper Holdings (WTC-T) in a 55-45 joint venture.

Teck, the operator, can boost its interest by an additional 10% by arranging all production financing upon completion of a bankable feasibility study. It also holds an option to buy an additional 5% interest from Western Copper.

The agreement applies to all mining rights acquired by either company within a 225-sq.-km area. To date, 40,000 hectares have been secured.

Surface sampling on El Salvador and on the nearby Virgen property have identified stratabound copper oxide mineralization grading 1-2% copper over considerable widths. Diamond drilling will begin in September.

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