Welcome to our dedicated page for Western Exploration news (Ticker: WEXPF), a resource for investors and traders seeking the latest updates and insights on Western Exploration stock.
Western Exploration Inc. reports on mineral exploration and development activity at its wholly owned Aura gold-silver project in Elko County, Nevada. Recurring updates cover drilling and assay results at Gravel Creek, the Jarbidge Vein Zone, the Tomasina Fault Zone, Saddle, Wood Gulch and related targets, including geochemical and spectral studies tied to epithermal gold-silver mineralization.
Company news also includes Doby George development and permitting work, including Mine Plan of Operations preparation, U.S. Forest Service process updates and baseline environmental, cultural, hydrology and biology studies. Additional corporate updates may address capital structure, governance matters and operating or financial disclosures.
Western Exploration announced the closing of a non-brokered private placement, raising approximately CDN $1.7 million from TXAU Ventures. The offering involved 1,603,773 units at CDN $1.06 per unit, each comprising one share and one-half of a warrant. Each warrant allows the purchase of one share at CDN $1.36 within 24 months. The funds will support the pre-feasibility and permitting of the Doby George Deposit and further exploration at Gravel Creek. All securities are subject to a hold period of four months and one day. The offering awaits final TSX Venture Exchange approval.
Western Exploration Inc. (TSXV: WEX; OTCQX: WEXPF) has announced positive metallurgical test results from the Gravel Creek deposit's Jarbidge rhyolite hanging wall zone. Key highlights include:
1. Locked-cycle flotation tests showed 94.8% gold and 89.8% silver recoveries in a combined gravity and flotation concentrate.
2. The combined concentrate was 10.9% of feed weight, averaging 57.1 g/t Au and 1,725 g/t Ag.
3. Gravity concentration before rougher flotation recovered 22.4% of gold and 4.4% of silver in 0.16% of total feed weight, with grades of 920 g/t Au and 5,750 g/t Ag.
4. The flotation concentrate averaged 29.1% sulphide sulphur.
CEO Darcy Marud stated that these results demonstrate a potential path to economic recovery for precious metals at Gravel Creek.
Western Exploration Inc. (TSXV: WEX; OTCQX: WEXPF) has announced a non-brokered private placement of 1,603,773 units at CDN $1.06 per unit, raising approximately CDN $1.7 million. Each unit includes one variable voting share and half a warrant, with each full warrant allowing purchase of one share at CDN $1.36 within 24 months of closing. The offering is fully allocated to TXAU Ventures, , a new strategic investor from Houston, Texas.
The closing is expected around September 24, 2024, subject to TSX Venture Exchange approval. Proceeds will fund a pre-feasibility study of the Doby George Deposit, baseline studies for permitting, and general corporate purposes. Securities will have a four-month hold period post-closing.
Western Exploration Inc. (TSXV: WEX; OTCQX: WEXPF) has granted 1,265,000 stock options to directors, officers, employees, and consultants. These options are exercisable at $1.10 per Common Share for a 3-year period, with a staggered vesting schedule. Additionally, the company issued 150,000 stock options to Peak Investor Marketing Corp. for investor relations services, also exercisable at $1.10 per share for 3 years, with a different vesting schedule. All options are subject to TSXV policies and a four-month hold period in accordance with Canadian securities laws.
Western Exploration Inc. (TSXV: WEX; OTCQX: WEXPF) has initiated its 2024 drill program at the Aura gold-silver project in Nevada. The 4,000 m program targets high-grade Au-Ag veins discovered in 2023 east of the Gravel Creek deposit. Key points:
1. Two core drills will be used for oriented core drilling.
2. 2023 drilling identified a North-South trending zone with multiple high-grade Au-Ag bearing veins.
3. Multiple +20 g/t AuEq intercepts traced along a dip length of over 200 meters.
4. 2024 drilling will bracket the 2023 discovery section with 80-meter step-outs.
5. The program aims to add this new area to future Gravel Creek resource updates.
The company also clarified details about its contract with Peak Investor Marketing Corp. for investor relations services.
Western Exploration Inc. unveils the proposed 2024 exploration program at Gravel Creek with a focus on resource expansion drilling targeting high-grade Au-Ag veins in the Jarbidge rhyolite. Assay results indicate significant zones with multiple high-grade Au-Ag bearing structures. Major Drilling will conduct a 4,000-meter core drill program to further explore the area. CEO Darcy Marud highlights the potential for expanding the Gravel Creek resource base with the new drilling program.
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