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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 Inc. (TSXV: WEX, OTCQX: WEXPF) has amended its share structure, changing the name of its outstanding shares from 'Common Shares' to 'Variable Voting Shares' to comply with U.S. regulations for foreign private issuers (FPI). This change aims to reduce compliance costs and clarify share voting rights without altering shareholder rights. Due to the Voting Reduction triggered by U.S. shareholder holdings exceeding 50%, each Variable Voting Share held by U.S. residents will have reduced voting power, decreasing from 23,371,969 votes to 7,292,054 votes.
Western Exploration (TSXV:WEX) (OTCQX:WEXPF) has initiated its 2022 diamond drill program at the Aura gold-silver project in Nevada. The company, which operates a 6,000-hectare site, benefits from a partnership with Agnico Eagle Mines, which has invested over US$14 million. The Phase 1 Drill Program aims to conduct large diameter core drilling to assess areas around the Doby George deposit, which has favorable metallurgical results. The project holds significant resources, with a report indicating over 652,000 gold equivalent ounces.
Western Exploration Inc. (TSXV: WEX; OTCQX: WEXPF) has officially started its 2022 diamond drill program at the 100% owned Aura Project in Elko County, Nevada. This Phase 1 Drill Program consists of approximately 2,000 meters of drilling across 10 to 12 drill holes at the Doby George mineral deposit. The main objectives are to validate current mineral resources, explore expansion potential, and conduct metallurgical testing. The results will inform the Phase 2 exploration program, which aims to progress towards a pre-feasibility study.
Western Exploration Inc. (TSX-V: WEX, OTCQX: WEXPF) has announced the issuance of 1,596,025 stock options and 125,000 Restricted Share Units (RSUs) to directors, officers, employees, and consultants under its equity incentive plan. Each stock option is exercisable at $2.65 per share for a period of five years. The vesting schedule includes half immediately, one quarter at 12 months, and the remaining quarter at 24 months. These securities are subject to TSX Venture Exchange regulations and a four-month hold period as per Canadian securities laws.
Western Exploration Inc. (TSX-V: WEX, OTCQX: WEXPF) announces its participation in the PDAC conference in Toronto, Canada, from June 13-15, 2023. The company's CEO, Darcy Marud, will host discussions about the Aura Project, a key gold-silver asset located in Northern Nevada. The PDAC event anticipates over 1,100 exhibitors and 20,000 attendees, emphasizing its significance in the mining industry.
For details about the conference, visit PDAC registration.
Western Exploration (TSXV:WEX) (OTCQX:WEXPF), a Nevada-focused precious metals exploration company, aims to become a leading gold and silver developer in North America. The company’s main asset is the 6,000-hectare Aura project, boasting significant indicated and inferred resources of gold equivalent ounces. Agnico Eagle Mines, a partner since 2017, has invested over US$14 million, acquiring an 18% stake. The Aura project is positioned for potential resource expansion, with heap leach gold recoveries of nearly 70% expected. Current shares are trading at $1.70.
Western Exploration Inc. has successfully completed the up-listing of its common shares to the OTCQX Best Markets, now trading under the ticker symbol WEXPF. This milestone aims to enhance liquidity and broaden its investor base in the U.S. The company is also working towards securing DTC eligibility for its shares, facilitating electronic clearing and settlement in the U.S. and beyond. The CEO highlighted this listing as a significant achievement in expanding market reach and investor participation in the company’s growth.